Bekanntmachung • Mar 19
Ørsted A/S Announces Directors Not Seeking Re-Election Ørsted A/S announced that at the annual general meeting of Ørsted A/S to be held on 9 April 2026, Judith Hartmann and Annica Bresky are not seeking re-election for board of directors. Bekanntmachung • Feb 24
Ørsted A/S to Report Q4, 2025 Results on Feb 26, 2026 Ørsted A/S announced that they will report Q4, 2025 results Pre-Market on Feb 26, 2026 Bekanntmachung • Feb 03
Ørsted A/S Announces Board Changes Ørsted A/S announced that Leticia Mandiola, one of the employee-elected members of the board of directors has stepped down as board member. The first alternate, Arul Gynasegaran(Senior Project Lead, Engineering) has replaced Leticia Mandiola employee-elected board member. Bekanntmachung • Nov 24
Ørsted A/S Announces Board Changes Ørsted A/S announced that Ian McCalder, one of the employee-elected members of the Board of Directors of Ørsted A/S, has stepped down as board member. The first alternate, Pawel Matysiak (Solution Manager, IT), has replaced Ian McCalder as employee-elected board member of Ørsted A/S. Bekanntmachung • Nov 12
Ørsted A/S, Annual General Meeting, Apr 09, 2026 Ørsted A/S, Annual General Meeting, Apr 09, 2026. Bekanntmachung • Sep 17
Ørsted A/S has filed a Follow-on Equity Offering in the amount of DKK 59.994386 billion. Ørsted A/S has filed a Follow-on Equity Offering in the amount of DKK 59.994386 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 900,816,600
Price\Range: DKK 66.6
Transaction Features: Regulation S; Rights Offering Bekanntmachung • Aug 12
Ørsted A/S has filed a Follow-on Equity Offering in the amount of DKK 60 billion. Ørsted A/S has filed a Follow-on Equity Offering in the amount of DKK 60 billion.
Security Name: Shares
Security Type: Common Stock
Transaction Features: Rights Offering Bekanntmachung • Jun 12
Ørsted Reportedly Seeks to Sell Large Onshore-Wind Portfolio Danish renewable energy giant Ørsted A/S (CPSE:ORSTED) is selling its large onshore-wind portfolio, which includes a clutch of assets in Ireland. The entire 800MW platform, which also includes windfarms in the UK, Germany and Spain, could fetch as much as EUR 2 billion. Orsted's European onshore headquarters are based in Cork city, where it employs about 100 people. The group has invested EUR 800 million in Ireland across a portfolio of wind and solar projects. Of the 27 operational onshore windfarms that are up for sale by Orsted, 21 are in Ireland. They include windfarms across the country, stretching from Donegal to Kerry. The company is currently building a 50MW windfarm in Co Tipperary and has six projects in development. The planned sale of Orsted's onshore wind assets was first reported by industry publication PeakLoad. Orsted declined to comment. PeakLoad noted that BNP Paribas is advising on the proposed sale of the assets, dubbed Project Grace. Non-binding offers are slated to be submitted next month. The entire portfolio includes more than 600MW of power from windfarms, with up to 371MW being generated by the operational Irish units. The sale will also include windfarm sites under development. Bekanntmachung • Apr 23
Ørsted A/S Appoints Amanda Dasch as Chief Development Officer and Godson Njoku as Chief Generation Officer, Effective from 1 May 2025 Effective from 1 May 2025, Orsted expands its Group Executive Team and appoints two new members, reporting to Group President and CEO, Rasmus Errboe. With today's appointments, the full offshore wind value chain, including development, construction, and generation, will be represented in Orsted's Group Executive Team. Amanda Dasch is appointed Chief Development Officer (CDO) and will head up Orsted Commercial, which covers commercial development activities across Orsted's three regions (Europe, Americas, and APAC)as well as Trading & Revenue, Group Strategy & Innovation, and Group Stakeholder Relations. Amanda Dasch is currently CEO of Region Americas at Orsted and has 20 years of leadership experience from the energy industry. She will relocate to Denmark and will continue as interim CEO of Region Americas until her successor has been found. Godson Njoku is appointed Chief Generation Officer(CGO)and will be leading Orsted Generation holding the overall responsibility for the performance of Orsted's European fleet of energy-generating assets. Godson Njoku will be based in the UK and joins Orsted after 20 years with Shell, where he held a number of senior executive roles, including serving as Executive Vice President with responsibility for Global Production Excellence in Shell's Upstream Business Leadership Team. With the changes to the Group Executive Team, Orsted will discontinue the Deputy CEO function. Bekanntmachung • Mar 13
Ørsted A/S Announces Dieter Wemmer and Peter Korsholm Not Seeking Re-Election to the Board of Directors Ørsted A/S announced that Dieter Wemmer and Peter Korsholm are not seeking re-election to the Board of Directors at the AGM to be held on April 3, 2025. Bekanntmachung • Feb 01
Ørsted A/S Announces CEO Changes Ørsted A/S announced that on January 31, 2025, the Board of Directors has appointed Rasmus Errboe, current Deputy CEO and Chief Commercial Officer, as new CEO of the company replacing Mads Nipper who will step down from his position as CEO. Mads Nipper joined Ørsted in January 2021. He will step down as CEO on 1 February 2025, at which time Rasmus Errboe will step into the role of CEO. As Deputy CEO and CCO, and former Regional Head of European market and former CFO for the global offshore business, he has a deep understanding of business and an extensive knowledge of the energy industry. I’m therefore convinced that Rasmus is the right person to lead the company through the challenges facing the industry and Ørsted. Bekanntmachung • Jan 31
Ørsted A/S Announces Executive Changes, Effective 1 February 2025 Ørsted A/S announced that on January 31, 2025, the Board of Directors approved appointment of Rasmus Errboe, current Deputy CEO and Chief Commercial Officer, as new Group President replacing Mads Nipper who will step down from his position as Group President. As of 1 February 2025, Rasmus Errboe steps into the role of Group President. As Deputy CEO and CCO, and former Regional Head of European market and former CFO for the global offshore business, he has a deep understanding of business and an extensive knowledge of the energy industry. I’m therefore convinced that Rasmus is the right person to lead the company through the challenges facing the industry and Ørsted. Bekanntmachung • Jan 01
Brookfield Infrastructure Fund V managed by Brookfield Corporation (TSX:BN), Brookfield Asset Management Ltd. (TSX:BAM) and its institutional partners and Brookfield Renewable Partners L.P. (TSX:BEP.UN) completed the acquisition of 12.45% stake in Four UK Offshore Wind Farms from Ørsted A/S (CPSE:ORSTED). Brookfield Infrastructure Fund V managed by Brookfield Corporation (TSX:BN), Brookfield Asset Management Ltd. (TSX:BAM) and its institutional partners and Brookfield Renewable Partners L.P. (TSX:BEP.UN) agreed to acquire 12.45% stake in Four UK Offshore Wind Farms from Ørsted A/S (CPSE:ORSTED) for transaction valued at £1.8 billion on October 30, 2024. Under the terms of agreement, buyers will acquire 12.45% minority stakes in four of Ørsted’s operational U.K. offshore wind farms: Hornsea 1, Hornsea 2, Walney Extension, and Burbo Bank Extension, which have a combined total capacity of approximately 3.5 GW. The value of transaction is £1.745 billion. Brookfield is pursuing this transaction through Brookfield Infrastructure Fund V, the world’s largest infrastructure fund.
Ørsted will retain a 37.55% ownership interest in the four assets and will continue to exercise a similar level of control and governance as before the transaction. Ørsted will also continue to oversee the operations and maintenance of the wind farms, according to the current service agreements. All four assets are fully operational under long-term inflation-linked contracts for difference (CfD). The agreement includes a call option, providing Ørsted with the opportunity, but no obligation, to repurchase the assets from Brookfield between two and seven years from the closing of the transaction at a pre-agreed price. The transaction is expected to close by the end of 2024, subject to customary regulatory approvals.
Richard Ginks, Alistair Fraser, Rhian Parker and Anna Mitchell of Linklaters acted as legal advisor to Ørsted in the transaction. Morgan Stanley acted as the financial advisor to Ørsted A/S.
Brookfield Infrastructure Fund V managed by Brookfield Corporation (TSX:BN), Brookfield Asset Management Ltd. (TSX:BAM) and its institutional partners and Brookfield Renewable Partners L.P. (TSX:BEP.UN) completed the acquisition of 12.45% stake in Four UK Offshore Wind Farms from Ørsted A/S (CPSE:ORSTED) on December 31, 2024. Bekanntmachung • Dec 20
Energy Capital Partners, LLC agreed to acquire 50% stake in Eleven Mile Solar Center, Llc,Mockingbird Solar Center, LLC and Sparta Solar, LLC from Ørsted A/S (CPSE:ORSTED) in a transaction valued at $570 million. Energy Capital Partners, LLC agreed to acquire 50% stake in Eleven Mile Solar Center, Llc,Mockingbird Solar Center, LLC and Sparta Solar, LLC from Ørsted A/S (CPSE:ORSTED) in a transaction valued at $570 million on December 18, 2024. The financial closing of the transaction is across different project companies and that the total impact from the transaction will be recognized across the reporting periods Q4 2024 and Q1 2025, subject to certain conditions precedent. Bekanntmachung • Nov 21
Ørsted A/S, Annual General Meeting, Apr 03, 2025 Ørsted A/S, Annual General Meeting, Apr 03, 2025. Bekanntmachung • Nov 01
Brookfield Infrastructure Fund V managed by Brookfield Corporation (TSX:BN), Brookfield Asset Management Ltd. (TSX:BAM) and its institutional partners and Brookfield Renewable Partners L.P. (TSX:BEP.UN) agreed to acquire 12.45% stake in Four UK Offshore Wind Farms from Ørsted A/S (CPSE:ORSTED) for transaction valued at £1.8 billion. Brookfield Infrastructure Fund V managed by Brookfield Corporation (TSX:BN), Brookfield Asset Management Ltd. (TSX:BAM) and its institutional partners and Brookfield Renewable Partners L.P. (TSX:BEP.UN) agreed to acquire 12.45% stake in Four UK Offshore Wind Farms from Ørsted A/S (CPSE:ORSTED) for transaction valued at £1.8 billion on October 30, 2024. Under the terms of agreement, buyers will acquire 12.45% minority stakes in four of Ørsted’s operational U.K. offshore wind farms: Hornsea 1, Hornsea 2, Walney Extension, and Burbo Bank Extension, which have a combined total capacity of approximately 3.5 GW. The value of transaction is £1.745 billion. Brookfield is pursuing this transaction through Brookfield Infrastructure Fund V, the world’s largest infrastructure fund.
Ørsted will retain a 37.55% ownership interest in the four assets and will continue to exercise a similar level of control and governance as before the transaction. Ørsted will also continue to oversee the operations and maintenance of the wind farms, according to the current service agreements. All four assets are fully operational under long-term inflation-linked contracts for difference (CfD). The agreement includes a call option, providing Ørsted with the opportunity, but no obligation, to repurchase the assets from Brookfield between two and seven years from the closing of the transaction at a pre-agreed price. The transaction is expected to close by the end of 2024, subject to customary regulatory approvals.
Richard Ginks, Alistair Fraser, Rhian Parker and Anna Mitchell of Linklaters acted as legal advisor to Ørsted in the transaction. Bekanntmachung • Oct 04
Ørsted A/S Announces Board Changes Ørsted A/S announced that Lara Jewinat, one of the employee-elected members of the Board of Directors, has stepped down as board member. The first alternate, Leticia Torres Mandiola (Lead Strategy Consultant, Commercial), has replaced Lara Jewinat as employee-elected board member. Bekanntmachung • Jun 18
Norges Bank Investment Management agreed to acquire 37.50% stake in 573 MW Race Bank Offshore Wind Farm from Ørsted A/S (CPSE:ORSTED), Macquarie European Infrastructure Fund 5 LP, fund managed by Macquarie Infrastructure and Real Assets (Europe) Limited and Spring Infrastructure 1 Investment Limited Partnership a fund management by Spring Infrastructure Capital Co., Ltd for approximately £330 million. Norges Bank Investment Management agreed to acquire 37.50% stake in 573 MW Race Bank Offshore Wind Farm from Ørsted A/S (CPSE:ORSTED), Macquarie European Infrastructure Fund 5 LP, fund managed by Macquarie Infrastructure and Real Assets (Europe) Limited and Spring Infrastructure 1 Investment Limited Partnership a fund management by Spring Infrastructure Capital Co., Ltd for approximately £330 million on April 9, 2024. The wind farm includes a debt facility with an outstanding balance of approximately £644 million at Norges Bank Investment Management’s ownership share.Macquarie Asset Management, via Macquarie European Infrastructure Fund 5 (25.0%), and Spring Infrastructure 1 Investment Limited Partnership, a fund managed by Spring Infrastructure Capital Co., Ltd. (12.5%). Arjun Infrastructure Partners will remain co-investor for 12.5% of the wind farm, and Ørsted will remain as a 50% owner and operator of the wind farm. Following this transaction, funds managed by Macquarie Asset Management will continue to manage stakes in the Gwynt y Môr, Sheringham Shoal, Lincs, Lynn, Inner Dowsing, Rhyl Flats and East Anglia One offshore wind farms. Macquarie Group and its partners are also supporting the development of the next generation of projects, including the 2 GW West of Orkney, 1.5 GW Outer Dowsing, 1.2 GW Rampion 2, and 353 MW Five Estuaries offshore wind farms. The terms of the transaction imply an equity value of approximately £880 million on a 100 per cent basis. The transaction has now reached financial close.
Norges Bank Investment Management agreed to acquire 37.50% stake in 573 MW Race Bank Offshore Wind Farm from Ørsted A/S (CPSE:ORSTED), Macquarie European Infrastructure Fund 5 LP, fund managed by Macquarie Infrastructure and Real Assets (Europe) Limited and Spring Infrastructure 1 Investment Limited Partnership a fund management by Spring Infrastructure Capital Co., Ltd on June 14, 2024. Bekanntmachung • Mar 28
U.S. Department of Energy Selects Ørsted to Receive Industrial Decarbonization Funding Ørsted announced it has been selected by the Department of Energy (DOE) Office of Clean Energy Demonstrations to begin award negotiations for up to $100 million in federal funding to construct a Power-to-X facility, called Star e-Methanol, along the Texas Gulf Coast. The U.S. industrial and transportation sectors accounts for 65% of U.S. greenhouse gas emissions. Ørsted is leveraging its renewable power portfolio to produce green hydrogen and e-methanol to reduce emissions from these sectors. Star e-Methanol is estimated to produce up to 300,000 metric tons of e-methanol annually which can be used directly as a marine shipping fuel, or as an input in sustainable aviation fuel or in chemical production, which all currently rely on energy-intensive fossil-derived fuels. The Star e-Methanol project consists of multiple components to reach a net-neutral carbon solution. This includes building new onshore wind and solar projects in Texas to power the electrolysis of green hydrogen, capturing biogenic carbon from an industrial facility, and synthesizing the captured biogenic carbon with green hydrogen to create e-methanol. The resulting e-methanol will reduce CO2 emissions by more than 90% compared to conventional marine fuel. The project is estimated to create 300 construction jobs and 50 permanent jobs for operations and maintenance. Many employees supporting the project will be based in Houston, where Ørsted opened a new office in early 2024. Ørsted has also committed to working with the University of Houston to create a meaningful community benefits plan that incorporates workforce development training, furthering STEM at educational institutions, and supporting environmental justice initiatives. Bekanntmachung • Mar 22
Ørsted A/S Appoints Rasmus Errboe as Deputy CEO and Chief Commercial Officer Ørsted A/S announced that as part of the new management structure, Ørsted establishes a new Commercial organisation under Rasmus Errboe, who is appointed Deputy CEO and Chief Commercial Officer (CCO). Due to his new role, Rasmus Errboe will be part of the registered management of Ørsted A/S. Rasmus Errboe is currently interim CFO and was previously CEO of Region Europe at Ørsted. Ørsted’s Group Executive Team, effective as of 1 April 2024: Mads Nipper, Group President and Chief Executive Officer (CEO). Rasmus Errboe, Deputy CEO and Chief Commercial Officer (CCO). Trond Westlie, Executive Vice President and Chief Financial Officer (CFO). Patrick Harnett, Executive Vice President and Chief Operating Officer (COO). Henriette Fenger Ellekrog, Executive Vice President and Chief HR Officer (CHRO). Bekanntmachung • Feb 19
Ørsted A/S Announces Board Resignations Ørsted A/S announced On 7 February 2024, Ørsted announced that Thomas Thune Andersen, Chair of the Board of Directors of Ørsted A/S, decided not to seek re-election at the annual general meeting on 5 March 2024. Thomas Thune Andersen has served as Chair of Ørsted A/S for ten years, and in anticipation of a forthcoming chair succession, the Nomination & Remuneration Committee of Ørsted A/S has been evaluating the best chair succession scenarios for Ørsted, including evaluating internal and external candidates for the position. Based on this process, and when Thomas Thune Andersen informed the Board of Directors on 7 February 2024 of his decision to step down at the upcoming annual general meeting, the Board of Directors concluded that the best candidates for the positions as new Chair and Deputy Chair would be Lene Skole and Andrew Brown, respectively. Jorgen Kildahl is not seeking re-election as deputy chair. Bekanntmachung • Feb 08
Ørsted A/S Announces Board Appointments Ørsted A/S announced that employees in Ørsted have selected their employee-elected members to the Board of Directors. The following employees were elected as employee-elected board members for the next two years: Benny Gøbel, Senior Mechanical Specialist, EPCO & IT (re-elected) Anne Cathrine Collet Yde, Global HR Business Partner, People & Development (re-elected) Ian McCalder, Radio Communication Project Specialist, EPCO & IT Lara Jewinat, Engineering Director, EPCO & IT The four employee-elected board members will join the Board of Directors after the annual general meeting on 5 March 2024. Bekanntmachung • Dec 24
Ørsted A/S, Annual General Meeting, Mar 05, 2024 Ørsted A/S, Annual General Meeting, Mar 05, 2024. Bekanntmachung • Dec 03
Ørsted Secures 1.6 Gw Electricity Business License for Offshore Wind Project Off the Coast of Incheon, Korea Ørsted has been granted a 1.6 GW electricity business license (EBL) by the Ministry of Trade, Industry & Energy of Korea for an offshore wind project located 70 km off the coast of Incheon City. The license grants Ørsted exclusive development rights for its gigawatt-scale Incheon offshore wind project, which is set to become the largest in Korea on completion and will contribute to the country’s goal of being carbon-neutral by 2050. The Ørsted project has the potential to support Incheon City’s net-zero target with a capacity to provide renewable energy to over a million Korean households while reducing carbon emissions by approximately 4 million tonnes annually. Next steps: The next steps for Ørsted’s Incheon offshore wind project include environmental impact assessments, site investigations, and preparations for participating in Korea’s annual fixed-price wind auction. Subject to the successful outcome of these processes and Ørsted taking the final investment decision, the project is expected to be completed in the early 2030s. Bekanntmachung • Nov 16
Ørsted A/S Announces Change of CFO Ørsted A/S announced that Daniel Lerup has stepped down as Chief Financial Officer. Rasmus Errboe will serve as interim CFO and member of the Executive Board. Currently, Rasmus Errboe is CEO of Region Europe and Executive Vice President at Ørsted and has been with the company since 2012 in different management positions, including as CFO for Ørsted’s offshore wind business. Together with the Finance team and the Group Executive Team, Rasmus Errboe will lead the work on supporting Ørsted’s capital structure and long-term commitment to its credit rating. While Rasmus Errboe serves as interim CFO, Olivia Breese will act as CEO of Region Europe while continuing in her current role as Senior Vice President and Head of Power-to-X at Ørsted. Andrew Brown, member of Ørsted’s Board of Directors, has been appointed interim COO and member of the Group Executive Team, expectedly until 1 March 2024. Andrew Brown has extensive international executive experience from leading positions in large global organizations such as Shell and most recently as CEO of the Portuguese energy company Galp. Together with the EPC & Operations team, Andrew Brown will ensure a continued focus on managing the delivery of our EPC projects while also further advancing and implementing a strengthened project management and supply chain strategy to reflect anticipated industry developments. Buying Opportunity • Oct 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 46%. The fair value is estimated to be Mex$1,040, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 3.5%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings is also forecast to grow by 24% per annum over the same time period. Bekanntmachung • Aug 18
Greencoat Capital LLP completed the acquisition of 25% stake in London Array Offshore Wind Farm in UK from Ørsted A/S (CPSE : ORSTED). Greencoat Capital LLP agreed to acquire a 25% stake in London Array Offshore Wind Farm in UK from Ørsted A/S (CPSE : ORSTED) for approximately £720 million on July 24, 2023. Transaction is expected to close at the end of July.
Greencoat Capital LLP completed the acquisition of 25% stake in London Array Offshore Wind Farm in UK from Ørsted A/S (CPSE : ORSTED) on August 17, 2023. Bekanntmachung • Jul 26
Greencoat UK Wind PLC (LSE:UKW), managed by Greencoat Capital LLP agreed to acquire a 25% stake in London Array Offshore Wind Farm in UK from Ørsted A/S (CPSE : ORSTED) for approximately £720 million. Greencoat Capital LLP agreed to acquire a 25% stake in London Array Offshore Wind Farm in UK from Ørsted A/S (CPSE : ORSTED) for approximately £720 million on July 24, 2023. Transaction is expected to close at the end of July. Reported Earnings • Feb 03
Full year 2022 earnings released: EPS: kr.34.62 (vs kr.24.33 in FY 2021) Full year 2022 results: EPS: kr.34.62 (up from kr.24.33 in FY 2021). Revenue: kr.132.3b (up 70% from FY 2021). Net income: kr.14.5b (up 42% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). Revenue is expected to decline by 14% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in South America are expected to grow by 4.6%. Bekanntmachung • Feb 02
Ørsted A/S Recommends Dividend for the Year 2022 Ørsted A/S recommends dividend of DKK 13.5 per share up 8.0 % and in line with dividend policy. Reported Earnings • May 01
First quarter 2022 earnings released: EPS: kr.13.22 (vs kr.2.80 in 1Q 2021) First quarter 2022 results: EPS: kr.13.22 (up from kr.2.80 in 1Q 2021). Revenue: kr.33.8b (up 78% from 1Q 2021). Net income: kr.5.56b (up 373% from 1Q 2021). Profit margin: 17% (up from 6.2% in 1Q 2021). Over the next year, revenue is expected to shrink by 25% compared to a 8.6% decline forecast for the industry in Mexico. Upcoming Dividend • Apr 04
Upcoming dividend of kr.12.50 per share Eligible shareholders must have bought the stock before 11 April 2022. Payment date: 13 April 2022. Payout ratio is a comfortable 51% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of Mexican dividend payers (5.2%). Lower than average of industry peers (5.1%). Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 16% share price gain to Mex$2,430, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 8x in the Electric Utilities industry in South America. Total loss to shareholders of 29% over the past year. Reported Earnings • Feb 04
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: kr.24.30 (down from kr.36.00 in FY 2020). Revenue: kr.77.7b (up 55% from FY 2020). Net income: kr.10.2b (down 32% from FY 2020). Profit margin: 13% (down from 30% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 32%. Over the next year, revenue is expected to shrink by 26% compared to a 7.4% decline forecast for the industry in Mexico. Reported Earnings • Feb 04
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: kr.24.30 (down from kr.36.00 in FY 2020). Revenue: kr.77.7b (up 55% from FY 2020). Net income: kr.10.2b (down 32% from FY 2020). Profit margin: 13% (down from 30% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 32%. Over the next year, revenue is expected to shrink by 26% compared to a 7.4% decline forecast for the industry in Mexico. Reported Earnings • Nov 09
Third quarter 2021 earnings released: EPS kr.1.10 (vs kr.26.86 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: kr.14.5b (up 66% from 3Q 2020). Net income: kr.490.0m (down 96% from 3Q 2020). Profit margin: 3.4% (down from 129% in 3Q 2020). The decrease in margin was primarily driven by lower expenses. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS kr.11.31 (vs kr.5.16 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr.13.6b (up 36% from 2Q 2020). Net income: kr.5.57b (up kr.7.76b from 2Q 2020). Profit margin: 41% (up from net loss in 2Q 2020). Executive Departure • Aug 12
Executive VP & CEO Onshore Declan Flanagan has left the company During their tenure, the company went from making losses to turning a profit. We don't have any record of a personal shareholding under Declan's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 3.58 years. Reported Earnings • May 03
First quarter 2021 earnings released: EPS kr.2.80 (vs kr.12.87 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: kr.18.9b (up 3.9% from 1Q 2020). Net income: kr.1.17b (down 78% from 1Q 2020). Profit margin: 6.2% (down from 30% in 1Q 2020). Bekanntmachung • Mar 11
Aker Carbon Capture, Ørsted and Microsoft Commits to Explore Development of Carbon Capture Aker Carbon Capture, Ørsted and Microsoft have signed a memorandum of understanding (MoU) to explore ways to support the development of carbon capture and storage at biomass-fired heat and power plants in Denmark. Carbon capture and storage is widely accepted as an important instrument to meet both the Danish climate targets of 70 % carbon reduction by 2030 and to meet the Paris Agreement's goal to limit global temperature increases to 1.5 degrees Celsius. By capturing the carbon emitted by biomass-fired heat and power plants and storing it underground, it is possible to not only reduce, but also remove carbon from the atmosphere, as carbon from sustainable biomass is part of a natural biogenic carbon cycle. The three companies will cooperate to address technological, regulatory, and commercial challenges and opportunities for creating negative emissions by capturing and storing carbon emitted by biomass-fired heat and power stations, with each party playing crucial and distinct commercial roles. Explore the possibility to jointly develop a negative emission project at one of Ørsted's biomass plants in Denmark, potentially using Northern Lights where Microsoft is an existing partner. Explore a technology collaboration to integrate Microsoft's digital expertise into a biogenic carbon capture project with Aker Carbon Capture's health, safety & environment (HSE) friendly capture technology. Explore ways for Microsoft, Aker Carbon Capture, and Ørsted to jointly accelerate the development of a biogenic carbon capture project Explore and establish advocacy of policies that help accelerate the negative emission frameworks in European countries. Through the successful completion of activities within these four areas, it is the ultimate vision of the parties to drive forward the process of facilitating negative emissions and reaching actual operation of a commercial and technical setup creating substantial negative emissions. Bekanntmachung • Mar 03
Ørsted A/S Announces Executive Changes Ørsted A/S announced that Julia King, Baroness Brown of Cambridge, and Henrik Poulsen were elected as new members of the Board of Directors at its AGM. Bekanntmachung • Jan 31
Ørsted Reorganises to Position for Future Growth Ørsted has decided to change its organisational structure. The current corporate structure with three business units, Offshore, Onshore, and Markets & Bioenergy, will be replaced by a primarily functional structure comprising Commercial and EPC & Operations. The Onshore business will continue to be organised in one business unit, Onshore. The Commercial area will bring together commercially focused functions from the current Offshore and Markets & Bioenergy organisations, including Hydrogen. Commercial will be headed by Martin Neubert who will become Chief Commercial Officer (CCO), Deputy Group CEO of Ørsted, and new member of the Executive Board. The EPC & Operations area will bring together the EPC, offshore operations, and bioenergy organizations from the current Offshore and Markets & Bioenergy organisations. EPC & Operations will be headed by a Chief Operating Officer (COO). The search for this role is ongoing. CEO Mads Nipper will lead the area until the position has been filled. Onshore will remain a separate business unit. The Onshore business differs from the rest of Ørsted when it comes to its business model and strategic focus and will be best positioned to realise its full potential continuing as a separate business unit. Onshore will continue to be headed by Declan Flanagan. Bekanntmachung • Jan 29
Ørsted Announces Management Changes, Effective from 4 February 2021 Ørsted has decided to change its organisational structure. The company announced that the Commercial area will bring together commercially focused functions from the current Offshore and Markets & Bioenergy organisations, including Hydrogen. Commercial will be headed by Martin Neubert who will become Chief Commercial Officer (CCO), Deputy Group CEO of Ørsted, and new member of the Executive Board. The EPC & Operations area will bring together the EPC, offshore operations, and bioenergy organizations from the current Offshore and Markets & Bioenergy organisations. EPC & Operations will be headed by a Chief Operating Officer (COO). The search for this role is ongoing. CEO Mads Nipper will lead the area until the position has been filled. Onshore will remain a separate business unit. The Onshore business differs from the rest of Ørsted when it comes to its business model and strategic focus and will be best positioned to realise its full potential continuing as a separate business unit. Onshore will continue to be headed by Declan Flanagan. Going forward, Ørsted’s Executive Board will consist of CEO Mads Nipper, CFO Marianne Wiinholt, and CCO and Deputy Group CEO Martin Neubert. Ørsted’s Executive Committee will consist of CEO Mads Nipper, CFO Marianne Wiinholt, CCO and Deputy Group CEO Martin Neubert, the new Chief Operating Officer, Onshore CEO Declan Flanagan, and CHRO Henriette Fenger Ellekrog. Since the strategic streamlining of Markets & Bioenergy has been finalised, and as Markets & Bioenergy will no longer exist as a separate business area in Ørsted, Markets & Bioenergy CEO and Executive Vice President Morten Buchgreitz has decided to leave Ørsted with effect from 4 February. Executive Vice President and Head of Offshore EPC and QHSE Anders Lindberg has accepted a position in his native country Sweden and will leave Ørsted with effect from mid-February. All organisational changes will be effective from 4 February 2021. Bekanntmachung • Jan 13
Ørsted A/S Revises Earnings Guidance for the 2020 Ørsted A/S based on their preliminary and unaudited reporting, they expect an operating profit (EBITDA) of DKK 18.0 billion for 2020, which is above their latest guidance of DKK 16-17 billion. Bekanntmachung • Dec 30
Caisse de dépôt et placement du Québec and Cathay Private Equity Co., Ltd. entered into an agreement to acquire a 50% stake in 605 MW Greater Changhua 1 Offshore Wind Farm in Taiwan from Ørsted A/S (CPSE:ORSTED) for TWD 75 billion. Caisse de dépôt et placement du Québec and Cathay Private Equity Co., Ltd. entered into an agreement to acquire a 50% stake in 605 MW Greater Changhua 1 Offshore Wind Farm in Taiwan from Ørsted A/S (CPSE:ORSTED) for TWD 75 billion on December 28, 2020. The consideration will be paid during 2021 and 2022. Caisse de dépôt et placement du Québec and Cathay Private Equity’s 50% stake in Greater Changhua 1 will be funded through a combination of equity and senior long-term debt facilities from 15 international and Taiwanese banks and 2 Taiwanese life insurance companies as well as 5 export credit agencies providing lending and guarantees. Namely, Cathay United Bank, CTBC Bank, E-SUN Bank, Taipei Fubon Bank, Cathay Life Insurance Co., Taiwan Life Insurance Co., BNP Paribas, Crédit Agricole, Deutsche Bank, DZ Bank, HSBC, Oversea-Chinese Banking Corporation, Korea Development Bank, Siemens Bank, Société Générale, Standard Chartered and Sumitomo Mitsui Banking Corporation. Post completion, Caisse de dépôt et placement du Québec will the majority owner among the two new partners and Ørsted will own 50% of the wind farm. The transaction is subject to regulatory approval from the Taiwanese authorities. The proceed will be used to pay for the EPC services for Greater Changhua 1. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 20% share price gain to kr.3,960, the stock is trading at a trailing P/E ratio of 32.2x, up from the previous P/E ratio of 26.9x. This compares to an average P/E of 11x in the Electric Utilities industry in South America. Bekanntmachung • Dec 13
Ørsted and Amazon Sign Offshore Wind Corporate Power Purchase Agreement Amazon has signed a 10-year corporate power purchase agreement with Ørsted to offtake the output of 250MW from Ørsted's planned 900MW Borkum Riffgrund 3 offshore wind farm in Germany. This CPPA will contribute to Amazon’s target of being 100% renewable by 2030 as part of the company’s goal to reach net zero carbon emissions by 2040. The 250MW CPPA, the largest ever for offshore wind in Europe, will help Amazon achieve their commitment to be net zero carbon by 2040 as set out in their Climate Pledge. This is Ørsted’s second CPPA with Amazon, following the 2016 agreement on the 253MW Amazon Onshore Wind Farm Texas in Scurryv County, Texas. With this agreement with Amazon, Ørsted has over the past 12 months signed CPPAs for an accumulated capacity of 1,301MW across its global offshore wind portfolio. Bekanntmachung • Dec 03
Glencore Energy UK Ltd completed the acquisition of LNG Business of Ørsted A/S (CPSE:ORSTED). Glencore Energy UK Ltd entered into an agreement to acquire LNG Business of Ørsted A/S (CPSE:ORSTED) on December 18, 2019. The transaction involves a payment from Orsted to Glencore. Completion of the transaction is dependent on the fulfillment of a number of conditions. As of March 19, 2020, the transaction is approved by the European Commission. The transaction is expected to take place in the summer of 2020. Orsted is expecting the agreement to result in a positive impact on its earnings before interest, tax, depreciation and amortization (EBITDA) starting from 2020. John Balsdon and Simon Tysoe of Latham & Watkins (London) LLP acted as legal advisors to Glencore Energy UK Ltd. James Green and Joshua Spry of K&L Gates LLP acted as legal advisors for Ørsted A/S.
Glencore Energy UK Ltd completed the acquisition of LNG Business of Ørsted A/S (CPSE:ORSTED) on December 1, 2020. Bekanntmachung • Nov 20
Ørsted A/S to Report Nine Months, 2021 Results on Nov 03, 2021 Ørsted A/S announced that they will report nine months, 2021 results on Nov 03, 2021 Analyst Estimate Surprise Post Earnings • Oct 29
Third-quarter earnings released: Revenue misses expectations Third-quarter revenue missed analyst estimates by 9.8% at kr.10.0b. Revenue is forecast to grow 7.1% over the next year, compared to a 3.6% decline forecast for the Electric Utilities industry in Mexico. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of kr.15.5b, down 28% from the prior year. Total revenue was kr.56.8b over the last 12 months, down 26% from the prior year. Bekanntmachung • Oct 03
Total Gas & Power Limited signed an agreement to acquire B2B-portfolio of natural gas and power customers in the UK from Ørsted A/S (CPSE:ORSTED). Total Gas & Power Limited signed an agreement to acquire B2B-portfolio of natural gas and power customers in the UK from Ørsted A/S (CPSE:ORSTED) on October 1, 2020. The portfolio includes approximately 3,800 natural gas customers and 2,200 power customers with a contracted volume of 28 TWh. Ørsted will keep a small number of B2B customers in the UK. Closing of the transaction is subject to approval by the EU competition authorities. Closing is expected to take place during winter 2020/21. Bekanntmachung • Sep 10
Ørsted Announces Executive Changes The Board of Directors of Ørsted appointed Mads Nipper as CEO of Ørsted as of 1 January 2021. Mads Nipper is currently CEO and Group President at Grundfos. The appointment follows the decision by Henrik Poulsen, announced on 15 June 2020, to resign his position and step down as CEO of Ørsted no later than 31 January 2021. Mads Nipper will take office on 1 January 2021.