Ørsted（0RHE）株式概要Ørsted A/Sは、その子会社とともに、洋上・陸上風力発電所、太陽光発電所、エネルギー貯蔵・熱電併給（CHP）プラントを所有、開発、建設、運営している。 詳細0RHE ファンダメンタル分析スノーフレーク・スコア評価2/6将来の成長3/6過去の実績0/6財務の健全性4/6配当金0/6報酬当社が推定した公正価値より14.7%で取引されている 収益は年間30.43%増加すると予測されています リスク分析過去1年間で株主の希薄化は大幅に進んだ すべてのリスクチェックを見る0RHE Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueDKK Current PriceDKK 168.46141.9% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-21b106b2016201920222025202620282031Revenue DKK 93.2bEarnings DKK 11.4bAdvancedSet Fair ValueView all narrativesØrsted A/S 競合他社Drax GroupSymbol: LSE:DRXMarket cap: UK£2.9bSSESymbol: LSE:SSEMarket cap: UK£29.3bNational GridSymbol: LSE:NG.Market cap: UK£63.7bCentricaSymbol: LSE:CNAMarket cap: UK£9.0b価格と性能株価の高値、安値、推移の概要Ørsted過去の株価現在の株価DKK 168.4652週高値DKK 330.0052週安値DKK 104.30ベータ0.641ヶ月の変化3.58%3ヶ月変化10.84%1年変化-37.06%3年間の変化-72.55%5年間の変化-82.01%IPOからの変化-34.36%最新ニュースBuy Or Sell Opportunity • May 20Now 20% undervaluedOver the last 90 days, the stock has risen 8.7% to kr.165. The fair value is estimated to be kr.206, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.4% over the last 3 years. Meanwhile, the company became loss making.Reported Earnings • May 07First quarter 2026 earnings released: EPS: kr.1.60 (vs kr.10.57 in 1Q 2025)First quarter 2026 results: EPS: kr.1.60 (down from kr.10.57 in 1Q 2025). Revenue: kr.27.6b (up 33% from 1Q 2025). Net income: kr.2.32b (down 48% from 1Q 2025). Profit margin: 8.4% (down from 22% in 1Q 2025). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings.お知らせ • Mar 19Ørsted A/S Announces Directors Not Seeking Re-ElectionØrsted 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.お知らせ • Feb 24Ørsted A/S to Report Q4, 2025 Results on Feb 26, 2026Ørsted A/S announced that they will report Q4, 2025 results Pre-Market on Feb 26, 2026Reported Earnings • Feb 07Full year 2025 earnings released: EPS: kr.2.00 (vs kr.2.20 loss in FY 2024)Full year 2025 results: EPS: kr.2.00 (up from kr.2.20 loss in FY 2024). Revenue: kr.73.2b (up 3.1% from FY 2024). Net income: kr.1.73b (up kr.2.65b from FY 2024). Profit margin: 2.4% (up from net loss in FY 2024). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 39% per year, which means it is performing significantly worse than earnings.お知らせ • Feb 03Ørsted A/S Announces Board ChangesØrsted 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.最新情報をもっと見るRecent updatesBuy Or Sell Opportunity • May 20Now 20% undervaluedOver the last 90 days, the stock has risen 8.7% to kr.165. The fair value is estimated to be kr.206, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.4% over the last 3 years. Meanwhile, the company became loss making.Reported Earnings • May 07First quarter 2026 earnings released: EPS: kr.1.60 (vs kr.10.57 in 1Q 2025)First quarter 2026 results: EPS: kr.1.60 (down from kr.10.57 in 1Q 2025). Revenue: kr.27.6b (up 33% from 1Q 2025). Net income: kr.2.32b (down 48% from 1Q 2025). Profit margin: 8.4% (down from 22% in 1Q 2025). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings.お知らせ • Mar 19Ørsted A/S Announces Directors Not Seeking Re-ElectionØrsted 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.お知らせ • Feb 24Ørsted A/S to Report Q4, 2025 Results on Feb 26, 2026Ørsted A/S announced that they will report Q4, 2025 results Pre-Market on Feb 26, 2026Reported Earnings • Feb 07Full year 2025 earnings released: EPS: kr.2.00 (vs kr.2.20 loss in FY 2024)Full year 2025 results: EPS: kr.2.00 (up from kr.2.20 loss in FY 2024). Revenue: kr.73.2b (up 3.1% from FY 2024). Net income: kr.1.73b (up kr.2.65b from FY 2024). Profit margin: 2.4% (up from net loss in FY 2024). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 39% per year, which means it is performing significantly worse than earnings.お知らせ • Feb 03Ørsted A/S Announces Board ChangesØrsted 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.お知らせ • Nov 24Ørsted A/S Announces Board ChangesØrsted 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.お知らせ • Nov 13+ 3 more updatesØrsted A/S to Report First Half, 2026 Results on Aug 13, 2026Ørsted A/S announced that they will report first half, 2026 results on Aug 13, 2026お知らせ • Nov 12Ørsted A/S, Annual General Meeting, Apr 09, 2026Ørsted A/S, Annual General Meeting, Apr 09, 2026.Reported Earnings • Nov 06Third quarter 2025 earnings released: kr.4.20 loss per share (vs kr.12.03 profit in 3Q 2024)Third quarter 2025 results: kr.4.20 loss per share (down from kr.12.03 profit in 3Q 2024). Revenue: kr.12.3b (down 22% from 3Q 2024). Net loss: kr.1.79b (down 135% from profit in 3Q 2024). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings.New Risk • Oct 12New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 214% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (16% average weekly change). High level of non-cash earnings (29% accrual ratio). Shareholders have been substantially diluted in the past year (214% increase in shares outstanding).Valuation Update With 7 Day Price Move • Sep 22Investor sentiment deteriorates as stock falls 44%After last week's 44% share price decline to kr.110, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Renewable Energy industry in Europe. Total loss to shareholders of 69% over the past three years.New Risk • Sep 17New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (15% average weekly change). High level of non-cash earnings (29% accrual ratio).お知らせ • Sep 17Ørsted 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 OfferingValuation Update With 7 Day Price Move • Aug 18Investor sentiment deteriorates as stock falls 26%After last week's 26% share price decline to kr.206, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Renewable Energy industry in Europe. Total loss to shareholders of 73% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr.321 per share.Buy Or Sell Opportunity • Aug 12Now 35% undervalued after recent price dropOver the last 90 days, the stock has fallen 14% to kr.214. The fair value is estimated to be kr.330, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 17% per annum over the same time period.お知らせ • Aug 12Ørsted 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 OfferingBoard Change • Aug 07High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Judith Hartmann was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.お知らせ • Jun 12Ørsted Reportedly Seeks to Sell Large Onshore-Wind PortfolioDanish 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.Reported Earnings • May 07First quarter 2025 earnings released: EPS: kr.10.60 (vs kr.5.70 in 1Q 2024)First quarter 2025 results: EPS: kr.10.60 (up from kr.5.70 in 1Q 2024). Revenue: kr.20.7b (up 8.0% from 1Q 2024). Net income: kr.4.44b (up 86% from 1Q 2024). Profit margin: 22% (up from 13% in 1Q 2024). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Europe are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance.New Risk • May 07New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). High level of non-cash earnings (24% accrual ratio).お知らせ • Apr 23Ørsted A/S Appoints Amanda Dasch as Chief Development Officer and Godson Njoku as Chief Generation Officer, Effective from 1 May 2025Effective 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.Board Change • Apr 08Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Annica Bresky was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.お知らせ • Mar 13Ørsted A/S Announces Dieter Wemmer and Peter Korsholm Not Seeking Re-Election to the Board of DirectorsØrsted 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.Reported Earnings • Feb 07Full year 2024 earnings released: kr.2.20 loss per share (vs kr.50.11 loss in FY 2023)Full year 2024 results: kr.2.20 loss per share (improved from kr.50.11 loss in FY 2023). Revenue: kr.71.0b (down 10% from FY 2023). Net loss: kr.923.0m (loss narrowed 96% from FY 2023). Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance.お知らせ • Feb 01Ørsted A/S Announces CEO ChangesØrsted 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.お知らせ • Jan 31Ørsted A/S Announces Executive Changes, Effective 1 February 2025Ørsted 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.New Risk • Jan 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). High level of non-cash earnings (23% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change).Valuation Update With 7 Day Price Move • Jan 23Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to kr.257, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Renewable Energy industry in Europe. Total loss to shareholders of 62% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr.163 per share.お知らせ • Jan 01Brookfield 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.お知らせ • Dec 20Energy 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.お知らせ • Nov 21Ørsted A/S, Annual General Meeting, Apr 03, 2025Ørsted A/S, Annual General Meeting, Apr 03, 2025.お知らせ • Nov 20+ 3 more updatesØrsted A/S to Report Fiscal Year 2024 Final Results on Feb 06, 2025Ørsted A/S announced that they will report fiscal year 2024 final results at 8:00 AM, Central European Standard Time on Feb 06, 2025Reported Earnings • Nov 05Third quarter 2024 earnings released: EPS: kr.12.00 (vs kr.53.80 loss in 3Q 2023)Third quarter 2024 results: EPS: kr.12.00 (up from kr.53.80 loss in 3Q 2023). Revenue: kr.15.8b (down 17% from 3Q 2023). Net income: kr.5.11b (up kr.27.7b from 3Q 2023). Profit margin: 32% (up from net loss in 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance.New Risk • Nov 05New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). High level of non-cash earnings (23% accrual ratio).お知らせ • Nov 01Brookfield 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.Board Change • Oct 23Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Julia King was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Oct 04Ørsted A/S Announces Board ChangesØrsted 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.New Risk • Aug 16New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company.Reported Earnings • Aug 16Second quarter 2024 earnings released: kr.4.10 loss per share (vs kr.1.40 loss in 2Q 2023)Second quarter 2024 results: kr.4.10 loss per share (further deteriorated from kr.1.40 loss in 2Q 2023). Revenue: kr.15.0b (down 8.8% from 2Q 2023). Net loss: kr.1.72b (loss widened 188% from 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance.お知らせ • Jun 18Norges 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.Reported Earnings • May 02First quarter 2024 earnings released: EPS: kr.5.70 (vs kr.4.60 in 1Q 2023)First quarter 2024 results: EPS: kr.5.70. Revenue: kr.19.2b (down 35% from 1Q 2023). Net income: kr.2.39b (down 15% from 1Q 2023). Profit margin: 13% (up from 9.6% in 1Q 2023). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat.お知らせ • Mar 28U.S. Department of Energy Selects Ørsted to Receive Industrial Decarbonization FundingØrsted 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.お知らせ • Mar 22Ørsted A/S Appoints Rasmus Errboe as Deputy CEO and Chief Commercial OfficerØrsted 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).Board Change • Mar 07Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Julia King was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Mar 06+ 1 more updateØrsted A/S Approves No Dividend Payment for the Financial Year 2023Ørsted A/S approved that in accordance with the proposal of the Board of Directors, no dividend is paid out to the shareholders for the financial year 2023, at its AGM, held on 5 March 2024.お知らせ • Feb 28+ 1 more updateØrsted A/S Announces CFO ChangesØrsted A/S has appointed Trond Westlie as Ørsted’s next Group Chief Financial Officer (CFO) effective as of 1 April 2024. Trond Westlie has served as Group CFO at A.P. Moller-Maersk, at VEON, at Telenor, and at Aker Kvaerner, and he holds a master’s degree in auditing. Trond Westlie is currently Chair of the board at Arendals Fossekompani, a Norwegian industrial investment company focused on forward-looking technologies within the green energy transition, and board member at Wilhelmsen group, a Norwegian multinational maritime company. Rasmus Errboe, who has acted as interim CFO since 14 November 2023, will return to his position as CEO of Region Europe by the end of March 2024.お知らせ • Feb 19Ørsted A/S Announces Board ResignationsØrsted 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.Recent Insider Transactions • Feb 17Independent Director recently bought kr.1.5m worth of stockOn the 15th of February, Peter Korsholm bought around 4k shares on-market at roughly kr.409 per share. This transaction amounted to 82% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr.5.9m more in shares than they have sold in the last 12 months.お知らせ • Feb 08Ørsted A/S Announces Board AppointmentsØrsted 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.Reported Earnings • Feb 08Full year 2023 earnings released: kr.50.10 loss per share (vs kr.34.62 profit in FY 2022)Full year 2023 results: kr.50.10 loss per share (down from kr.34.62 profit in FY 2022). Revenue: kr.79.3b (down 40% from FY 2022). Net loss: kr.20.5b (down 241% from profit in FY 2022). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings.Buy Or Sell Opportunity • Feb 08Now 20% undervaluedOver the last 90 days, the stock has risen 38% to kr.378. The fair value is estimated to be kr.474, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 6.3% in a year. Earnings are forecast to grow by 100% in the next year.お知らせ • Dec 24Ørsted A/S, Annual General Meeting, Mar 05, 2024Ørsted A/S, Annual General Meeting, Mar 05, 2024.お知らせ • Dec 23+ 3 more updatesØrsted A/S to Report First Half, 2024 Results on Aug 15, 2024Ørsted A/S announced that they will report first half, 2024 results on Aug 15, 2024お知らせ • Dec 03Ørsted Secures 1.6 Gw Electricity Business License for Offshore Wind Project Off the Coast of Incheon, KoreaØrsted 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.お知らせ • Nov 16Ørsted A/S Announces Change of CFOØrsted 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.Valuation Update With 7 Day Price Move • Nov 01Investor sentiment deteriorates as stock falls 24%After last week's 24% share price decline to kr.252, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total loss to shareholders of 73% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr.413 per share.Buying Opportunity • Nov 01Now 39% undervalued after recent price dropOver the last 90 days, the stock is down 56%. The fair value is estimated to be kr.413, 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 2.1% per annum. Earnings is also forecast to grow by 11% per annum over the same time period.Buying Opportunity • Oct 16Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 48%. The fair value is estimated to be kr.408, 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.Valuation Update With 7 Day Price Move • Oct 06Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to kr.330, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total loss to shareholders of 65% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr.400 per share.Valuation Update With 7 Day Price Move • Sep 07Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to kr.371, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total loss to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr.406 per share.お知らせ • Aug 18Greencoat 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.Reported Earnings • Aug 11Second quarter 2023 earnings released: kr.1.40 loss per share (vs kr.0.31 profit in 2Q 2022)Second quarter 2023 results: kr.1.40 loss per share (down from kr.0.31 profit in 2Q 2022). Revenue: kr.16.5b (down 37% from 2Q 2022). Net loss: kr.546.0m (down kr.678.0m from profit in 2Q 2022). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.9% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.お知らせ • Jul 26Greencoat 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.Recent Insider Transactions • Jun 12Member of Executive Board recently bought kr.1.5m worth of stockOn the 8th of June, Daniel Lerup bought around 2k shares on-market at roughly kr.634 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Daniel's only on-market trade for the last 12 months.Reported Earnings • May 03First quarter 2023 earnings released: EPS: kr.4.60 (vs kr.13.22 in 1Q 2022)First quarter 2023 results: EPS: kr.4.60 (down from kr.13.22 in 1Q 2022). Revenue: kr.29.4b (down 13% from 1Q 2022). Net income: kr.2.96b (down 47% from 1Q 2022). Profit margin: 10% (down from 17% in 1Q 2022). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.4% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.Upcoming Dividend • Mar 01Upcoming dividend of kr.13.50 per share at 2.2% yieldEligible shareholders must have bought the stock before 08 March 2023. Payment date: 10 March 2023. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (4.5%).Reported Earnings • Feb 02Full year 2022 earnings released: EPS: kr.34.60 (vs kr.24.33 in FY 2021)Full year 2022 results: EPS: kr.34.60 (up from kr.24.33 in FY 2021). Revenue: kr.132.3b (up 70% from FY 2021). Net income: kr.15.1b (up 48% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 13% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.お知らせ • Feb 02Ørsted A/S Recommends Dividend for the Year 2022Ørsted A/S recommends dividend of DKK 13.5 per share up 8.0 % and in line with dividend policy.Reported Earnings • Aug 12Second quarter 2022 earnings released: EPS: kr.0.30 (vs kr.12.90 in 2Q 2021)Second quarter 2022 results: EPS: kr.0.30 (down from kr.12.90 in 2Q 2021). Revenue: kr.26.3b (up 94% from 2Q 2021). Net income: kr.280.0m (down 95% from 2Q 2021). Profit margin: 1.1% (down from 40% in 2Q 2021). Over the next year, revenue is expected to shrink by 27% compared to a 4.3% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.Reported Earnings • May 01First quarter 2022 earnings released: EPS: kr.13.20 (vs kr.2.80 in 1Q 2021)First quarter 2022 results: EPS: kr.13.20 (up from kr.2.80 in 1Q 2021). Revenue: kr.33.8b (up 78% from 1Q 2021). Net income: kr.5.70b (up 386% 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 4.7% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.Upcoming Dividend • Apr 04Upcoming dividend of kr.12.50 per shareEligible 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 British dividend payers (4.7%). Lower than average of industry peers (4.2%).Valuation Update With 7 Day Price Move • Feb 26Investor sentiment improved over the past weekAfter last week's 17% share price gain to kr.795, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 72% over the past three years.Reported Earnings • Feb 04Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull 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 9.5% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.Reported Earnings • Nov 04Third 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. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings.Reported Earnings • Aug 18Second 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). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings.Executive Departure • Aug 12Executive VP & CEO Onshore Declan Flanagan has left the companyDuring 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.株主還元0RHEGB Renewable EnergyGB 市場7D3.7%5.2%2.5%1Y-37.1%17.8%19.4%株主還元を見る業界別リターン: 0RHE過去 1 年間で17.8 % の収益を上げたUK Renewable Energy業界を下回りました。リターン対市場: 0RHEは、過去 1 年間で19.4 % のリターンを上げたUK市場を下回りました。価格変動Is 0RHE's price volatile compared to industry and market?0RHE volatility0RHE Average Weekly Movement4.5%Renewable Energy Industry Average Movement5.3%Market Average Movement5.7%10% most volatile stocks in GB Market11.9%10% least volatile stocks in GB Market3.1%安定した株価: 0RHE 、 UK市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: 0RHEの 週次ボラティリティ ( 5% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト19727,675Rasmus Errboeorsted.comØrsted A/Sは、子会社とともに、洋上・陸上風力発電所、太陽光発電所、エネルギー貯蔵・熱電併給（CHP）プラントを所有、開発、建設、運営している。オフショア、オンショア、バイオエネルギー＆その他の各セグメントを通じて事業を展開している。オフショア部門は、欧州、米国、アジア太平洋地域で洋上風力発電所を所有、開発、建設、運営している。陸上部門は、米国で陸上風力発電所および太陽光発電所を所有、開発、建設、運営している。バイオエネルギー＆その他部門は、デンマークのCHPプラントから熱と電力を生成し、付帯サービスを提供し、ガスポートフォリオを最適化し、デンマークとスウェーデンのB2B事業を管理している。同社は以前はDONG Energy A/Sとして知られていたが、2017年11月にØrsted A/Sに社名を変更した。Ørsted A/Sは1972年に設立され、デンマークのフレデリシアに本社を置いている。もっと見るØrsted A/S 基礎のまとめØrsted の収益と売上を時価総額と比較するとどうか。0RHE 基礎統計学時価総額DKK 221.21b収益（TTM）-DKK 540.00m売上高(TTM)DKK 80.16b2.8xP/Sレシオ-409.7xPER（株価収益率0RHE は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計0RHE 損益計算書（TTM）収益DKK 80.16b売上原価DKK 44.83b売上総利益DKK 35.33bその他の費用DKK 35.87b収益-DKK 540.00m直近の収益報告Mar 31, 2026次回決算日May 26, 2026一株当たり利益（EPS）-0.41グロス・マージン44.07%純利益率-0.67%有利子負債／自己資本比率59.1%0RHE の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/23 00:47終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Ørsted A/S 19 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。33 アナリスト機関null nullABG Sundal CollierVirginia Sanz de Madrid GrossBanco SantanderDominic NashBarclays30 その他のアナリストを表示
Buy Or Sell Opportunity • May 20Now 20% undervaluedOver the last 90 days, the stock has risen 8.7% to kr.165. The fair value is estimated to be kr.206, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.4% over the last 3 years. Meanwhile, the company became loss making.
Reported Earnings • May 07First quarter 2026 earnings released: EPS: kr.1.60 (vs kr.10.57 in 1Q 2025)First quarter 2026 results: EPS: kr.1.60 (down from kr.10.57 in 1Q 2025). Revenue: kr.27.6b (up 33% from 1Q 2025). Net income: kr.2.32b (down 48% from 1Q 2025). Profit margin: 8.4% (down from 22% in 1Q 2025). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings.
お知らせ • Mar 19Ørsted A/S Announces Directors Not Seeking Re-ElectionØrsted 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.
お知らせ • Feb 24Ørsted A/S to Report Q4, 2025 Results on Feb 26, 2026Ørsted A/S announced that they will report Q4, 2025 results Pre-Market on Feb 26, 2026
Reported Earnings • Feb 07Full year 2025 earnings released: EPS: kr.2.00 (vs kr.2.20 loss in FY 2024)Full year 2025 results: EPS: kr.2.00 (up from kr.2.20 loss in FY 2024). Revenue: kr.73.2b (up 3.1% from FY 2024). Net income: kr.1.73b (up kr.2.65b from FY 2024). Profit margin: 2.4% (up from net loss in FY 2024). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 39% per year, which means it is performing significantly worse than earnings.
お知らせ • Feb 03Ørsted A/S Announces Board ChangesØrsted 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.
Buy Or Sell Opportunity • May 20Now 20% undervaluedOver the last 90 days, the stock has risen 8.7% to kr.165. The fair value is estimated to be kr.206, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.4% over the last 3 years. Meanwhile, the company became loss making.
Reported Earnings • May 07First quarter 2026 earnings released: EPS: kr.1.60 (vs kr.10.57 in 1Q 2025)First quarter 2026 results: EPS: kr.1.60 (down from kr.10.57 in 1Q 2025). Revenue: kr.27.6b (up 33% from 1Q 2025). Net income: kr.2.32b (down 48% from 1Q 2025). Profit margin: 8.4% (down from 22% in 1Q 2025). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings.
お知らせ • Mar 19Ørsted A/S Announces Directors Not Seeking Re-ElectionØrsted 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.
お知らせ • Feb 24Ørsted A/S to Report Q4, 2025 Results on Feb 26, 2026Ørsted A/S announced that they will report Q4, 2025 results Pre-Market on Feb 26, 2026
Reported Earnings • Feb 07Full year 2025 earnings released: EPS: kr.2.00 (vs kr.2.20 loss in FY 2024)Full year 2025 results: EPS: kr.2.00 (up from kr.2.20 loss in FY 2024). Revenue: kr.73.2b (up 3.1% from FY 2024). Net income: kr.1.73b (up kr.2.65b from FY 2024). Profit margin: 2.4% (up from net loss in FY 2024). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 39% per year, which means it is performing significantly worse than earnings.
お知らせ • Feb 03Ørsted A/S Announces Board ChangesØrsted 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.
お知らせ • Nov 24Ørsted A/S Announces Board ChangesØrsted 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.
お知らせ • Nov 13+ 3 more updatesØrsted A/S to Report First Half, 2026 Results on Aug 13, 2026Ørsted A/S announced that they will report first half, 2026 results on Aug 13, 2026
お知らせ • Nov 12Ørsted A/S, Annual General Meeting, Apr 09, 2026Ørsted A/S, Annual General Meeting, Apr 09, 2026.
Reported Earnings • Nov 06Third quarter 2025 earnings released: kr.4.20 loss per share (vs kr.12.03 profit in 3Q 2024)Third quarter 2025 results: kr.4.20 loss per share (down from kr.12.03 profit in 3Q 2024). Revenue: kr.12.3b (down 22% from 3Q 2024). Net loss: kr.1.79b (down 135% from profit in 3Q 2024). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings.
New Risk • Oct 12New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 214% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (16% average weekly change). High level of non-cash earnings (29% accrual ratio). Shareholders have been substantially diluted in the past year (214% increase in shares outstanding).
Valuation Update With 7 Day Price Move • Sep 22Investor sentiment deteriorates as stock falls 44%After last week's 44% share price decline to kr.110, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Renewable Energy industry in Europe. Total loss to shareholders of 69% over the past three years.
New Risk • Sep 17New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (15% average weekly change). High level of non-cash earnings (29% accrual ratio).
お知らせ • Sep 17Ørsted 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
Valuation Update With 7 Day Price Move • Aug 18Investor sentiment deteriorates as stock falls 26%After last week's 26% share price decline to kr.206, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Renewable Energy industry in Europe. Total loss to shareholders of 73% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr.321 per share.
Buy Or Sell Opportunity • Aug 12Now 35% undervalued after recent price dropOver the last 90 days, the stock has fallen 14% to kr.214. The fair value is estimated to be kr.330, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 17% per annum over the same time period.
お知らせ • Aug 12Ørsted 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
Board Change • Aug 07High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Judith Hartmann was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Jun 12Ørsted Reportedly Seeks to Sell Large Onshore-Wind PortfolioDanish 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.
Reported Earnings • May 07First quarter 2025 earnings released: EPS: kr.10.60 (vs kr.5.70 in 1Q 2024)First quarter 2025 results: EPS: kr.10.60 (up from kr.5.70 in 1Q 2024). Revenue: kr.20.7b (up 8.0% from 1Q 2024). Net income: kr.4.44b (up 86% from 1Q 2024). Profit margin: 22% (up from 13% in 1Q 2024). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Europe are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance.
New Risk • May 07New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). High level of non-cash earnings (24% accrual ratio).
お知らせ • Apr 23Ørsted A/S Appoints Amanda Dasch as Chief Development Officer and Godson Njoku as Chief Generation Officer, Effective from 1 May 2025Effective 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.
Board Change • Apr 08Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Annica Bresky was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
お知らせ • Mar 13Ørsted A/S Announces Dieter Wemmer and Peter Korsholm Not Seeking Re-Election to the Board of DirectorsØrsted 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.
Reported Earnings • Feb 07Full year 2024 earnings released: kr.2.20 loss per share (vs kr.50.11 loss in FY 2023)Full year 2024 results: kr.2.20 loss per share (improved from kr.50.11 loss in FY 2023). Revenue: kr.71.0b (down 10% from FY 2023). Net loss: kr.923.0m (loss narrowed 96% from FY 2023). Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance.
お知らせ • Feb 01Ørsted A/S Announces CEO ChangesØrsted 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.
お知らせ • Jan 31Ørsted A/S Announces Executive Changes, Effective 1 February 2025Ørsted 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.
New Risk • Jan 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). High level of non-cash earnings (23% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change).
Valuation Update With 7 Day Price Move • Jan 23Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to kr.257, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Renewable Energy industry in Europe. Total loss to shareholders of 62% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr.163 per share.
お知らせ • Jan 01Brookfield 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.
お知らせ • Dec 20Energy 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.
お知らせ • Nov 21Ørsted A/S, Annual General Meeting, Apr 03, 2025Ørsted A/S, Annual General Meeting, Apr 03, 2025.
お知らせ • Nov 20+ 3 more updatesØrsted A/S to Report Fiscal Year 2024 Final Results on Feb 06, 2025Ørsted A/S announced that they will report fiscal year 2024 final results at 8:00 AM, Central European Standard Time on Feb 06, 2025
Reported Earnings • Nov 05Third quarter 2024 earnings released: EPS: kr.12.00 (vs kr.53.80 loss in 3Q 2023)Third quarter 2024 results: EPS: kr.12.00 (up from kr.53.80 loss in 3Q 2023). Revenue: kr.15.8b (down 17% from 3Q 2023). Net income: kr.5.11b (up kr.27.7b from 3Q 2023). Profit margin: 32% (up from net loss in 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance.
New Risk • Nov 05New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). High level of non-cash earnings (23% accrual ratio).
お知らせ • Nov 01Brookfield 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.
Board Change • Oct 23Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Julia King was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Oct 04Ørsted A/S Announces Board ChangesØrsted 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.
New Risk • Aug 16New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company.
Reported Earnings • Aug 16Second quarter 2024 earnings released: kr.4.10 loss per share (vs kr.1.40 loss in 2Q 2023)Second quarter 2024 results: kr.4.10 loss per share (further deteriorated from kr.1.40 loss in 2Q 2023). Revenue: kr.15.0b (down 8.8% from 2Q 2023). Net loss: kr.1.72b (loss widened 188% from 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance.
お知らせ • Jun 18Norges 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.
Reported Earnings • May 02First quarter 2024 earnings released: EPS: kr.5.70 (vs kr.4.60 in 1Q 2023)First quarter 2024 results: EPS: kr.5.70. Revenue: kr.19.2b (down 35% from 1Q 2023). Net income: kr.2.39b (down 15% from 1Q 2023). Profit margin: 13% (up from 9.6% in 1Q 2023). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat.
お知らせ • Mar 28U.S. Department of Energy Selects Ørsted to Receive Industrial Decarbonization FundingØrsted 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.
お知らせ • Mar 22Ørsted A/S Appoints Rasmus Errboe as Deputy CEO and Chief Commercial OfficerØrsted 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).
Board Change • Mar 07Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Julia King was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Mar 06+ 1 more updateØrsted A/S Approves No Dividend Payment for the Financial Year 2023Ørsted A/S approved that in accordance with the proposal of the Board of Directors, no dividend is paid out to the shareholders for the financial year 2023, at its AGM, held on 5 March 2024.
お知らせ • Feb 28+ 1 more updateØrsted A/S Announces CFO ChangesØrsted A/S has appointed Trond Westlie as Ørsted’s next Group Chief Financial Officer (CFO) effective as of 1 April 2024. Trond Westlie has served as Group CFO at A.P. Moller-Maersk, at VEON, at Telenor, and at Aker Kvaerner, and he holds a master’s degree in auditing. Trond Westlie is currently Chair of the board at Arendals Fossekompani, a Norwegian industrial investment company focused on forward-looking technologies within the green energy transition, and board member at Wilhelmsen group, a Norwegian multinational maritime company. Rasmus Errboe, who has acted as interim CFO since 14 November 2023, will return to his position as CEO of Region Europe by the end of March 2024.
お知らせ • Feb 19Ørsted A/S Announces Board ResignationsØrsted 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.
Recent Insider Transactions • Feb 17Independent Director recently bought kr.1.5m worth of stockOn the 15th of February, Peter Korsholm bought around 4k shares on-market at roughly kr.409 per share. This transaction amounted to 82% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr.5.9m more in shares than they have sold in the last 12 months.
お知らせ • Feb 08Ørsted A/S Announces Board AppointmentsØrsted 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.
Reported Earnings • Feb 08Full year 2023 earnings released: kr.50.10 loss per share (vs kr.34.62 profit in FY 2022)Full year 2023 results: kr.50.10 loss per share (down from kr.34.62 profit in FY 2022). Revenue: kr.79.3b (down 40% from FY 2022). Net loss: kr.20.5b (down 241% from profit in FY 2022). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings.
Buy Or Sell Opportunity • Feb 08Now 20% undervaluedOver the last 90 days, the stock has risen 38% to kr.378. The fair value is estimated to be kr.474, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 6.3% in a year. Earnings are forecast to grow by 100% in the next year.
お知らせ • Dec 24Ørsted A/S, Annual General Meeting, Mar 05, 2024Ørsted A/S, Annual General Meeting, Mar 05, 2024.
お知らせ • Dec 23+ 3 more updatesØrsted A/S to Report First Half, 2024 Results on Aug 15, 2024Ørsted A/S announced that they will report first half, 2024 results on Aug 15, 2024
お知らせ • Dec 03Ørsted Secures 1.6 Gw Electricity Business License for Offshore Wind Project Off the Coast of Incheon, KoreaØrsted 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.
お知らせ • Nov 16Ørsted A/S Announces Change of CFOØrsted 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.
Valuation Update With 7 Day Price Move • Nov 01Investor sentiment deteriorates as stock falls 24%After last week's 24% share price decline to kr.252, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total loss to shareholders of 73% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr.413 per share.
Buying Opportunity • Nov 01Now 39% undervalued after recent price dropOver the last 90 days, the stock is down 56%. The fair value is estimated to be kr.413, 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 2.1% per annum. Earnings is also forecast to grow by 11% per annum over the same time period.
Buying Opportunity • Oct 16Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 48%. The fair value is estimated to be kr.408, 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.
Valuation Update With 7 Day Price Move • Oct 06Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to kr.330, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total loss to shareholders of 65% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr.400 per share.
Valuation Update With 7 Day Price Move • Sep 07Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to kr.371, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total loss to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr.406 per share.
お知らせ • Aug 18Greencoat 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.
Reported Earnings • Aug 11Second quarter 2023 earnings released: kr.1.40 loss per share (vs kr.0.31 profit in 2Q 2022)Second quarter 2023 results: kr.1.40 loss per share (down from kr.0.31 profit in 2Q 2022). Revenue: kr.16.5b (down 37% from 2Q 2022). Net loss: kr.546.0m (down kr.678.0m from profit in 2Q 2022). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.9% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.
お知らせ • Jul 26Greencoat 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.
Recent Insider Transactions • Jun 12Member of Executive Board recently bought kr.1.5m worth of stockOn the 8th of June, Daniel Lerup bought around 2k shares on-market at roughly kr.634 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Daniel's only on-market trade for the last 12 months.
Reported Earnings • May 03First quarter 2023 earnings released: EPS: kr.4.60 (vs kr.13.22 in 1Q 2022)First quarter 2023 results: EPS: kr.4.60 (down from kr.13.22 in 1Q 2022). Revenue: kr.29.4b (down 13% from 1Q 2022). Net income: kr.2.96b (down 47% from 1Q 2022). Profit margin: 10% (down from 17% in 1Q 2022). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.4% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Mar 01Upcoming dividend of kr.13.50 per share at 2.2% yieldEligible shareholders must have bought the stock before 08 March 2023. Payment date: 10 March 2023. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (4.5%).
Reported Earnings • Feb 02Full year 2022 earnings released: EPS: kr.34.60 (vs kr.24.33 in FY 2021)Full year 2022 results: EPS: kr.34.60 (up from kr.24.33 in FY 2021). Revenue: kr.132.3b (up 70% from FY 2021). Net income: kr.15.1b (up 48% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 13% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
お知らせ • Feb 02Ørsted A/S Recommends Dividend for the Year 2022Ørsted A/S recommends dividend of DKK 13.5 per share up 8.0 % and in line with dividend policy.
Reported Earnings • Aug 12Second quarter 2022 earnings released: EPS: kr.0.30 (vs kr.12.90 in 2Q 2021)Second quarter 2022 results: EPS: kr.0.30 (down from kr.12.90 in 2Q 2021). Revenue: kr.26.3b (up 94% from 2Q 2021). Net income: kr.280.0m (down 95% from 2Q 2021). Profit margin: 1.1% (down from 40% in 2Q 2021). Over the next year, revenue is expected to shrink by 27% compared to a 4.3% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.
Reported Earnings • May 01First quarter 2022 earnings released: EPS: kr.13.20 (vs kr.2.80 in 1Q 2021)First quarter 2022 results: EPS: kr.13.20 (up from kr.2.80 in 1Q 2021). Revenue: kr.33.8b (up 78% from 1Q 2021). Net income: kr.5.70b (up 386% 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 4.7% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.
Upcoming Dividend • Apr 04Upcoming dividend of kr.12.50 per shareEligible 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 British dividend payers (4.7%). Lower than average of industry peers (4.2%).
Valuation Update With 7 Day Price Move • Feb 26Investor sentiment improved over the past weekAfter last week's 17% share price gain to kr.795, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 72% over the past three years.
Reported Earnings • Feb 04Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull 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 9.5% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.
Reported Earnings • Nov 04Third 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. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 18Second 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). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings.
Executive Departure • Aug 12Executive VP & CEO Onshore Declan Flanagan has left the companyDuring 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.
