Orsted A/S (DOGEF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Orsted Q1 2025 earnings call. For the first part of this call, all participants will be listened on remote, and afterwards, there will be a question and answer session. Today's speakers are Group President and CEO, Rasmus Erboe, and CFO, Trond Wesley. Speakers, please begin. Hello, everyone, and thank you for joining today's presentation. During the first quarter of the year, we have focused on execution of the business plan that we presented in February. As part of the updated plan, we established four key business priorities for Ørsted, which will be the core focus as we execute on our strategy. First, it is the strengthening of our capital structure. Secondly, it is the delivery of more than 8 GW offshore construction portfolio. And thirdly, it is a focused and disciplined approach towards capsule allocation with value over volume. And finally, we will ensure that Ørsted is even more competitive in the future. We will continue to focus on progressing all four priorities to deliver on our plan. With that said, the offshore wind industry continues to be challenged in the short term with headwinds relating to supply chain, regulatory uncertainty, and macroeconomic developments. We follow the developments around further potential tariffs and other regulatory changes closely. Despite the significant challenges across certain geographies, the long-term fundamentals for offshore wind are strong, given the increasing global electricity demand, a strengthened focus on energy security and affordability through renewables, and improvements in framework conditions in several major markets. With that, let me walk you through our progress on each of the four strategic priorities. During the first quarter, we have seen solid operational resul...