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Orsted shareholders vote yes to $9.4 billion rights issue
Orsted faces financial strain from project delays, political opposition, and lower wind speeds, leading shareholders to approve a $9.4 billion capital increase to stabilize operations.
- On Friday, Orsted shareholders approved an emergency 60 billion Danish krone rights issue at an extraordinary general meeting, backed by major owners.
- Orsted cut its 2025 operating profit outlook and issued a profit warning shortly before the vote, citing "lower-than-normal offshore wind speeds" as the main cause for adjusted EBITDA guidance amid mounting pressures.
- Financially, the firm has trimmed guidance to EBITDA of 24 billion–27 billion Danish crowns , citing export cable damage at the Greater Changhua 2b wind farm .
- Market reaction showed Orsted shares, down nearly 90% from a 2021 peak, trading up around 2.2% after the company said the warning would not hit its medium-term targets.
- Against a backdrop of U.S. political pressure, Orsted, Danish wind farm developer, faces risks on its two remaining projects off the US east coast after the White House ordered a halt to a near-complete windfarm last month.
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11 Articles
Orsted cuts profit outlook ahead of rights issue vote
Danish wind farm developer Orsted has cut its operating profit outlook for 2025, shortly before shareholders were set to vote on a crucial capital raise as the company battles US President Donald Trump's News Story to wind power.
·Ireland
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Total News Sources11
Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 17%
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