Ørsted increased EBITDA excluding new partnerships and cancellation fees by 11% in the first quarter of 2026.
The company said the higher earnings of €1.3bn (DKK 9.5 billion) were primarily driven by a 27% increase in offshore generation compared with the same period last year following ramp-up at Borkum Riffgrund 3 and Greater Changhua 4 alongside slightly higher wind speeds.
Ørsted added that EBITDA from its offshore business rose by €160m (DKK 1.2 billion) year-on-year to €1bn (DKK 7.5 billion).
Net profit for the period totalled €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.
Ørsted said it continued progress across its 8.1GW offshore wind construction portfolio during the quarter.
The company delivered first power from the Revolution Wind project in the US and installed the first wind turbines at Sunrise Wind off New York.
In Europe, Ørsted started installation of monopile foundations at Hornsea 3 in the UK and Baltica 2 in Poland, while commissioning at Greater Changhua 2b and 4 in Taiwan remains on track for the third quarter of 2026.
“I’m pleased with the strong operational performance,” said Rasmus Errboe (pictured), group president and chief executive at Ørsted.
“During the first quarter of 2026, we produced more renewable energy than ever before, delivering secure, affordable, and green power to millions of households and businesses.
“Our EBITDA result of DKK 9.5 billion show that we have firm ground under our feet and are delivering on our plan.”
Errboe said events in the Middle East underlined the need to accelerate Europe’s energy transition and reduce dependence on fossil fuel imports.