Headlines
Orsted cuts profit outlook ahead of $9.4 billion rights issue vote
Published by Global Banking & Finance Review®
Posted on September 5, 2025
2 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on September 5, 2025
2 min readLast updated: January 22, 2026
Orsted cuts its 2025 profit forecast ahead of a $9.4 billion share issue vote, citing industry challenges and project delays.
COPENHAGEN (Reuters) -Danish wind farm developer Orsted cut its operating profit outlook for 2025 on Friday, shortly before shareholders were set to vote on a crucial capital raise as the company battles U.S. President Donald Trump's opposition to wind power.
Once celebrated as a trailblazer in offshore wind, Orsted now finds itself in dire straits, grappling with industry-wide challenges and the risk of further losses on its two remaining projects off the U.S. East Coast.
The company now expects earnings before interest, depreciation and amortisation excluding new partnerships and cancellations fees of between 24 billion and 27 billion Danish crowns ($3.76-$4.24 billion) compared to a previously guided range of 25-28 billion crowns.
"The primary driver for the adjustment to the EBITDA guidance is the impact from the lower-than-normal offshore wind speeds across the offshore portfolio," Orsted said in a statement.
Its profit outlook was also impacted negatively by a delay on its Greater Changhua 2b wind farm project under construction in Taiwan, where an export cable had been damaged, it said.
Orsted's shareholders are due to vote on Friday on a proposed emergency $9.4 billion share issue, which is backed by the company's major owners.
The earnings warning was not expected to impact Orsted's medium-term targets, the company said.
($1 = 6.3751 Danish crowns)
(Reporting by Stine Jacobsen, editing by Terje Solsvik)
Orsted now expects earnings before interest, depreciation, and amortization to be between 24 billion and 27 billion Danish crowns, which is approximately $3.76 to $4.24 billion.
The primary driver for the adjustment is the lower-than-normal offshore wind speeds across its portfolio, along with delays in the Greater Changhua 2b wind farm project in Taiwan.
The proposed emergency $9.4 billion share issue is crucial as it is backed by major shareholders and is intended to support the company's financial stability amid ongoing challenges.
According to Orsted, the earnings warning is not expected to impact the company's medium-term targets.
Orsted is grappling with industry-wide challenges, including the risk of further losses on its remaining projects and the impact of environmental factors on its operations.
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