Orsted Keeps Profit Guidance As It Seeks to Reassure Investors

(Bloomberg) -- Orsted A/S confirmed its full-year profit guidance, seeking to reassure investors of its financial stability after setbacks in the US forced the offshore wind developer to raise more than $9 billion from shareholders.

The company expects earnings before interest, taxes, depreciation and amortization and excluding new partnerships and cancellation fees to be in a range of 24 billion to 27 billion Danish kroner ($4.2 billion). Orsted already slashed that guidance in September from a previously expected range of as much as 28 billion Danish kroner due to lower-than-expected offshore wind speeds during the summer. 

Orsted is pushing to deliver on a turnaround after its US ambitions backfired, resulting in a string of expensive failures. The company’s troubles deepened when the Trump administration intervened to stall offshore wind development, briefly halting one of its flagship projects until a court cleared the way forward. Having weathered those setbacks, Orsted aims to complete two major US wind farms before turning its attention back to Europe, where it sees stronger prospects for growth.

Earlier this week, the company announced a $6.5 billion deal with Apollo Global Management Inc. for investment in Orsted’s Hornsea 3 offshore wind farm in the UK, its largest project under construction. The deal was critical for the company to prove that there’s still appetite from major investors to buy stakes in offshore wind farms. 

Shares in Orsted are down over 70% so far in 2025, driven lower by actions against the offshore wind sector in the US as well as a major drop when it announced the capital raise that diluted existing shareholders. 

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