Ørsted posted a loss in the third quarter due to restructuring

From July to September, the group, which plans to cut some 2.000 jobs—a quarter of its workforce—by 2027, reported net losses of 1,7 billion kroner (€228 million). Analysts polled by Factset had forecast losses of 2,7 billion kroner.

For the quarter, Ørsted's revenue amounted to 12,27 billion crowns (1,64 billion euros), a decrease of 28% year-on-year.

In recent months, the group has raised $9,4 billion for its recapitalization.

At the end of September, a US court authorized the resumption of work on Revolution Wind, a huge offshore project off the coast of New England, which was nearly completed but had been blocked a month earlier by the Donald Trump administration.

"We have significantly strengthened Ørsted's financial robustness with the completion of the rights issue and the agreement to sell a 50% stake in our Hornsea 3 project in the UK," said the group's CEO, Rasmus Errboe.

In the first nine months of the year, Ørsted, 50,1% owned by the Danish state, installed more turbines than a year earlier with a capacity of 18,5 GW compared to 17,7 in 2024.

The group also confirmed its intention to focus its development in Europe and certain Asian markets, given the current US administration's opposition to wind power development. It currently has construction projects underway on three continents (America, Asia, and Europe).