Ørsted’s profit for 2024 amounted to DKK 0.0 billion and excluding impairments (after tax) and cancellation fees, profit for the year was DKK 6.4 billion (around EUR 858 million).
Looking at the company’s operating profit for 2024, Ørsted’s EBITDA was DKK 32 billion (around EUR 4.3 billion), up from DKK 18.7 billion (approx. EUR 2.5 billion) in 2023, of which DKK 7.3 billion (approx. EUR 979 million) was related to a net reversal of provisions for cancelled projects. EBITDA excluding new partnerships and cancellation fees amounted to DKK 24.8 billion (around EUR 3.3 billion), an increase of DKK 700 million (approx. EUR 94 million) compared to 2023 and in line with the company’s guidance of DKK 24-26 billion (around EUR 3.2-3.5 billion).
“We are pleased with our operational performance and financials results, where we ended the year in line with our updated expectations. Furthermore, we successfully renegotiated and settled contracts related to the close-down of Ocean Wind with an outcome better than assumed, resulting in a net reversal of cancellation fees of DKK 7.3 billion”, said Rasmus Errboe , Group President and CEO of Ørsted.
“The year 2024 proved to be a challenging year for the industry and for Ørsted. We’ve experienced headwinds and have therefore taken necessary actions, including the adjustment of our business plan with a reduced investment programme, to strengthen our capital structure and value creation.”
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