Ørsted expects "significantly lower" results from offshore wind

The utility maintains its full-year guidance. Slow wind speeds and problems with offshore wind farm cables mean, however, that expectations for the core business in particular lie in the lower end of the spread.

Photo: Ørsted

As expected, Ørsted books a massive advancement for the second quarter of 2021. Revenue surged by 17 percent to DKK 13.55bn (EUR 1.82bn) for the Danish power company, with the bottom line catapulting from a deficit of DKK 825m in the same period last year to now DKK 5.54bn and operations increasing 177 percent to DKK 8.2bn.

However, this doesn't mean that Ørsted will up its expectations for the year, which target DKK 2-3bn less in operations than last year, as the increased bottom line is mainly attributable to the company's farm-down of Dutch offshore wind farm Borssele 1+2 rather than improvements to daily operations.

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