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COPENHAGEN - Danish renewable energy company Ørsted A/S (CPSE:ORSTED) has reduced its full-year 2025 earnings outlook following lower-than-normal offshore wind speeds during July and August, according to a company statement released Friday.
The wind farm developer now expects EBITDA excluding new partnerships and cancellation fees to range between DKK 24 billion and DKK 27 billion, down from its previous guidance of DKK 25 billion to DKK 28 billion.
The company cited weaker wind conditions across its offshore portfolio as the primary factor behind the adjustment, which has negatively impacted earnings by approximately DKK 1.2 billion compared to normalized wind speeds. Additionally, a delay in the Greater Changhua 2b construction project in Taiwan will adversely affect EBITDA by about DKK 0.3 billion.
Despite the earnings adjustment, Ørsted maintained its gross investment guidance for 2025 at DKK 50 billion to DKK 54 billion. The company stated that the revised outlook is not expected to impact its medium-term targets.
Ørsted, which develops and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, reported revenue of DKK 71.0 billion (EUR 9.5 billion) in 2024. The company employs approximately 8,200 people and is headquartered in Denmark.
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