Danish group Ørsted recorded a net loss of 1.7 billion kroner (€228 million) in the third quarter, mainly due to restructuring measures designed to restore financial performance. The company confirmed the elimination of 2,000 jobs, representing about a quarter of its workforce, by 2027. The published results were nonetheless better than expected, as analysts had anticipated a loss of 2.7 billion kroner.
Sharp decline in revenue year-on-year
From July to September, Ørsted posted revenue of 12.27 billion kroner (€1.64 billion), a 28% decrease compared with the previous year. This drop reflects weakness in the US market and the reassessment of several large-scale projects. To strengthen its financial position, the company raised $9.4 billion as part of a major recapitalisation, including a rights issue and partial asset divestments.
Strategic projects resumed in the United States and the United Kingdom
At the end of September, a US court authorised the resumption of the Revolution Wind project, an offshore wind farm located off the coast of New England. This nearly completed site had been halted a month earlier. At the same time, Ørsted sold 50% of its Hornsea 3 project in the United Kingdom, a transaction aimed at reducing its financial exposure while maintaining a presence in Europe’s largest wind market.
Geographical reorientation and capital strengthening
Chief Executive Officer Rasmus Errboe stated that these operations strengthened Ørsted’s financial resilience. The company, 50.1% owned by the Danish state, announced plans to focus its investments in Europe and Asia, as the political environment in the United States remains unfavourable to offshore wind development. During the first nine months of the year, the group’s installed capacity reached 18.5 GW compared with 17.7 GW in 2024, showing sustained activity despite market constraints and margin pressures.
