Ørsted remains on track with its updated strategy and reported solid operational performance in the first half of 2026. Ørsted generated 11.2 TWh of electricity from its offshore business in the first six months of 2026, an increase of 23% compared with the same period last year. The company also made progress across its construction portfolio, with all projects progressing according to schedule and within planned costs, including Hornsea 3 in the UK.
EBITDA excluding new partnerships and cancellation fees amounted to DKK 15.0 billion, DKK 1.1 billion higher than in the same period last year.
Offshore EBITDA excluding new partnerships and cancellation fees amounted to DKK 11.9 billion in the first half of 2026, compared with DKK 10.3 billion in the same period last year. The increase was mainly driven by higher wind speeds and higher prices. In the second quarter, offshore EBITDA was DKK 4.4 billion, compared with DKK 4.0 billion in the same quarter last year, with the increase primarily driven by earnings from the construction agreement for Hornsea 3.
Net profit for the first half of 2026 was DKK 3.3 billion, compared with DKK 8.2 billion in the same period last year. The decrease was mainly due to divestment gains recorded last year, as well as higher tax and non-cash impairment losses this year. Net profit for the second quarter was DKK 0.7 billion, compared with DKK 3.4 billion in the same quarter last year.
Based on its financial performance in the first half of 2026, Ørsted remains on track to achieve its 2026 guidance of EBITDA above DKK 28 billion, excluding new partnerships and cancellation fees. The company also maintains its gross investment guidance of DKK 50–55 billion.
Following measures to strengthen its capital structure and financial position, Ørsted plans to pursue new opportunities in offshore wind and reinstate dividend payments. The company targets the reinstatement of dividends for the 2026 financial year, with the first distribution expected in 2027. The proposed dividend level will be announced in the 2026 annual report.
