Ørsted's revenue rose 39% over the first nine months of 2026, but a sharp rise in project impairments pulled operating earnings lower, leaving the energy company with different trends in sales and profit.
Revenue for the nine months ended Sept. 30 totaled DKK 69.451 billion, compared with DKK 50.1 billion in the same 2025 period. The interim report separately listed DKK 21.183 billion in revenue for July through September, the third quarter. The DKK 69.5 billion figure reflects the nine-month period, not Q3 alone. Ørsted attributed the revenue growth to stronger output and prices, as well as increased construction-agreement revenue.
Earnings before interest and taxes (EBIT) came to DKK 6.8 billion for the nine months, down DKK 2.9 billion, or 30%, from a year earlier. Operating earnings declined even as reported revenue advanced. Ørsted identified impairment charges as the main factor behind the lower EBIT.
The company recorded DKK 6 billion in impairment losses, compared with DKK 1.5 billion in the year-earlier period. The losses were four times the previous year's level. Ørsted described them as noncash charges associated with its U.S. projects and said higher long-dated U.S. interest rates contributed. It said work on the affected projects remained on schedule and within budget.
The figures show revenue and EBIT moving in opposite directions over the same reporting period. Ørsted's explanation for the decline in operating earnings centered on the project impairments, despite the increase in revenue.
The company kept its 2026 outlook for earnings before interest, taxes, depreciation and amortization (EBITDA) above DKK 28 billion. The forecast excludes new partnerships and cancellation fees and assumes normal wind speeds for the rest of the year.
