Ørsted reported stronger offshore earnings in the first quarter of 2026 while continuing construction work across major offshore wind projects in the US, Europe, and Taiwan.
EBITDA from the offshore business increased by €160m / DKK 1.2 billion year-on-year to €1bn / DKK 7.5 billion. Net profit for the period was €340m / DKK 2.6 billion, affected by non-cash tax effects and impairments linked to higher long-dated US interest rates.
The company maintained its full-year EBITDA guidance.
During the quarter, Ørsted continued progress across its 8.1GW offshore wind construction portfolio. In the US, Revolution Wind delivered its first power, while the first wind turbines were installed at Sunrise Wind off New York.
In Europe, monopile foundation installation started at Hornsea 3 in the UK and Baltica 2 in Poland. In Taiwan, commissioning at Greater Changhua 2b and 4 remains on schedule for the third quarter of 2026.
Rasmus Errboe, group president and chief executive of Ørsted, said the company delivered strong operational performance in the quarter. He also said Ørsted produced more renewable energy than ever before during the period.
Errboe added that events in the Middle East showed the need to accelerate Europe’s energy transition and reduce dependence on fossil fuel imports.
