Danish energy company Ørsted on Friday lowered its full-year profit forecast, citing weaker-than-normal winds and a project delay in Taiwan.
The world's largest offshore wind developer said it now expects 2025 earnings before interest, taxes, depreciation, and amortization, excluding new partnerships, to be between 24 billion and 27 billion Danish kroner, down from a previous range of 25 billion to 28 billion Danish kroner.
The revision comes as the company grapples with significant setbacks in the U.S. market, including a government-ordered halt to its Revolution Wind project, and is planning a 60 billion Danish kroner share sale to strengthen its finances.
According to the company, the primary driver for the guidance cut was an adverse impact of approximately 1.2 billion Danish kroner from low wind speeds across its offshore portfolio in July and August.
A delay to its Greater Changhua 2b construction project in Taiwan will also negatively impact earnings by about 0.3 billion Danish kroner, the company said.
Ørsted reiterated its gross investment guidance for the year and said the adjustment is not expected to impact its medium-term targets.
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