Ørsted (ORSTED) AGM 2025 summary

Opening remarks and agenda

• AGM opened with safety instructions and confirmation of legal convening in Copenhagen, with 85.02% of share capital represented; agenda and voting procedures outlined.

Financial performance review

• Operational EBITDA reached DKK 32 billion, with underlying EBITDA at DKK 24.8 billion, in line with guidance.

• Net profit was DKK 16 million, heavily impacted by DKK 14 billion in U.S. impairments; adjusted net profit DKK 6.4 billion.

• Gross investments totaled DKK 42.8 billion, mainly in offshore wind; divestments reached DKK 22 billion.

• Net debt increased to DKK 58 billion, with credit metrics affected by cancellation fees.

• No dividend proposed for 2024 to strengthen capital structure.

Board and executive committee updates

• Rasmus Errboe appointed CEO in February 2025, bringing 13 years of company experience.

• Board established a new project committee for enhanced project risk oversight.

• Two new board members, Judith Hartmann and Julian Waldron, elected; two members stepped down.