Orsted A/S (DOGEF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.773 -- 00:00:06.721 Ladies and gentlemen, welcome to the Orsted Q1 2025 earnings call. 00:00:06.721 -- 00:00:11.488 For the first part of this call, all participants will be listened on remote, and afterwards, 00:00:11.488 -- 00:00:14.873 there will be a question and answer session. 00:00:14.873 -- 00:00:20.260 Today's speakers are Group President and CEO, Rasmus Erboe, and CFO, 00:00:20.260 -- 00:00:24.283 Trond Wesley. Speakers, please begin. 00:00:24.486 -- 00:00:29.570 Hello, everyone, and thank you for joining today's presentation. 00:00:29.765 -- 00:00:34.688 During the first quarter of the year, we have focused on execution 00:00:34.851 -- 00:00:38.155 of the business plan that we presented in February. 00:00:38.155 -- 00:00:42.960 As part of the updated plan, we established four key business priorities for Ørsted, 00:00:42.960 -- 00:00:47.025 which will be the core focus as we execute on our strategy. 00:00:47.025 -- 00:00:51.129 First, it is the strengthening of our capital structure. 00:00:51.129 -- 00:00:57.136 Secondly, it is the delivery of more than 8 GW offshore construction portfolio. 00:00:57.136 -- 00:01:02.325 And thirdly, it is a focused and disciplined approach towards capsule allocation 00:01:02.325 -- 00:01:07.674 with value over volume. And finally, we will ensure that Ørsted is even more competitive 00:01:07.674 -- 00:01:09.376 in the future. 00:01:09.376 -- 00:01:15.426 We will continue to focus on progressing all four priorities to deliver on our plan. 00:01:15.426 -- 00:01:20.254 With that said, the offshore wind industry continues to be challenged in the short term 00:01:20.254 -- 00:01:25.461 with headwinds relating to supply chain, regulatory uncertainty, and macroeconomic 00:01:25.461 -- 00:01:26.963 developments. 00:01...