Orsted A/S (DOGEF) Q4 2025 Earnings Call

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WEBVTT 00:00:00.520 -- 00:00:03.343 Q4 2025 earnings 00:00:03.343 -- 00:00:08.628 call. For the first part of this call, all participants will be in listen-only 00:00:08.628 -- 00:00:14.051 mode, and afterwards there will be a question and answer session. 00:00:14.193 -- 00:00:20.319 You can register for questions at any time by pressing star and one. 00:00:20.319 -- 00:00:24.543 For operator assistance, please press star and zero. 00:00:24.543 -- 00:00:29.410 The conference must not be recorded for publication or broadcast. 00:00:29.410 -- 00:00:34.469 Today's speakers are Group President and CEO Rasmus Erbø and 00:00:34.469 -- 00:00:39.702 CFO Trond Westley. Speakers, please begin. 00:00:39.923 -- 00:00:43.106 Hello everyone and thank you for joining today's call. 00:00:43.106 -- 00:00:45.106 2025 00:00:45.809 -- 00:00:51.155 has been a defining year for Ørsted. We have taken significant steps to solidify our 00:00:51.155 -- 00:00:56.180 financial foundation and improve the robustness of our business. 00:00:56.180 -- 00:01:01.606 At the outset of the year, we stepped away from our long-term capacity ambitions 00:01:01.606 -- 00:01:06.911 and established four strategic priorities to secure a more focused and competitive 00:01:06.911 -- 00:01:08.911 Ørsted. 00:01:09.269 -- 00:01:13.879 We have sharpened our strategy to focus on maintaining our global leadership position 00:01:13.879 -- 00:01:18.889 within offshore wind, with an emphasis on our core markets in Europe and select 00:01:18.889 -- 00:01:24.240 markets in APAC, where we have a distinct competitive advantage and can leverage 00:01:24.240 -- 00:01:27.583 our unique offshore wind capabilities. 00:01:28.152 -- 00:01:33.304 As the global leader in offshore wind, we will continue working with governments, indust...