In the second quarter of the year, offshore wind giant Ørsted experienced an 8% drop in earnings before interest, tax, depreciation, and amortisation (EBITDA), excluding new partnerships, reaching £384 million (3.32 billion Danish crowns).
This figure fell short of the expected £436 million (3.85 billion Danish crowns) projected by analysts surveyed by Refinitiv.
During the quarter, Ørsted reached significant milestones – it secured development consent for Hornsea 4, an expansive offshore wind farm with a potential capacity of 2.6GW, cementing its position among the world’s largest.
Additionally, Ørsted joined forces with Ireland’s ESB to collaborate on an Irish offshore wind portfolio.
Mads Nipper, Ørsted’s Group President and Chief Executive Officer, has affirmed that the company sustains its EBITDA guidance, ranging from £2.3-£2.6 billion, excluding earnings from new partnerships this year.
Mr Nipper added that there is an adjustment to projections: while offshore earnings are anticipated to surpass previous expectations, earnings from Combined Heat and Power (CHP) plants are forecasted to decrease by around £460 million compared to 2022, a slight shift from the initial estimate of £345 million.
