Ørsted A/S (DOGEF)
- Reuters
Wind farm developer Orsted confident about strategy after Q1 profit rises
Orsted, the world's biggest offshore wind farm developer, reported on Thursday a rise in first-quarter operating profit thanks to higher earnings from its offshore wind farms, and confirmed its full-year guidance. The offshore wind industry has been struggling with rising inflation, interest rate hikes and supply chain delays. Following a strategic review of its business, Orsted, which is 51%-owned by the Danish state, trimmed in February its investment and capacity targets, paused dividend payouts, and its finance and operations chiefs stepped down.
- Reuters
Orsted must restore investor confidence, says new chair
Denmark's Orsted must restore investor confidence, new chair Lene Skole said on Tuesday after a shareholder meeting elected her to oversee the offshore wind power giant's turnaround drive. She takes the role as the world's largest offshore wind farm developer looks to bounce back from a string of losses and project cancellations. Late last year, the company scrapped two U.S. offshore wind projects.
- Reuters
Wind power giant Orsted appoints CFO, head of operations
Denmark's Orsted announced a new chief financial officer and head of operations on Tuesday as the world's largest offshore wind farm developer looks to bounce back from a string of losses and project cancellations. Rising inflation, interest rate hikes and supply chain snags have squeezed offshore wind developers facing growing demand. Orsted appointed Trond Westlie as CFO, a post he held at Danish shipping giant A.P. Moller-Maersk and Norway's Telenor.
