Orsted A/S (DOGEF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Q4 2025 earnings call. For the first part of this call, all participants will be in listen-only mode, and afterwards there will be a question and answer session. You can register for questions at any time by pressing star and one. For operator assistance, please press star and zero. The conference must not be recorded for publication or broadcast. Today's speakers are Group President and CEO Rasmus Erbø and CFO Trond Westley. Speakers, please begin. Hello everyone and thank you for joining today's call. 2025 has been a defining year for Ørsted. We have taken significant steps to solidify our financial foundation and improve the robustness of our business. At the outset of the year, we stepped away from our long-term capacity ambitions and established four strategic priorities to secure a more focused and competitive Ørsted. We have sharpened our strategy to focus on maintaining our global leadership position within offshore wind, with an emphasis on our core markets in Europe and select markets in APAC, where we have a distinct competitive advantage and can leverage our unique offshore wind capabilities. As the global leader in offshore wind, we will continue working with governments, industry and investors to strengthen the conditions required to support future offshore wind development. At the recent North Sea Summit in Hamburg Monday last week, governments in our core markets demonstrated their willingness to strengthen these conditions when they signed the Joint Offshore Wind Investment Pact for the North Seas alongside the wind industry and transmission system operators. The pact will turn the North Sea into the green power plant of Europe, reaffirming 300 gigawatt of offshore wind capacity by 2050, and charging a path of more evenly distributed offshore build-o...