Ørsted (ORSTED) AGM 2026 summary

Opening remarks and agenda

• AGM was lawfully convened with 86.5% of share capital represented and all legal requirements met.

• The agenda included board and financial reports, remuneration, profit appropriation, treasury share authorization, board elections, and auditor appointment.

Financial performance review

• EBITDA for 2025 was DKK 22.4 billion, lower than 2024 due to one-off cancellation fees; adjusted EBITDA was DKK 25.1 billion, slightly higher than 2024.

• Net profit reached DKK 3.1 billion, a significant improvement over 2024, with return on capital employed at 5.4%.

• Gross investments totaled DKK 55 billion, mainly in offshore wind projects in Europe, the U.S., and Taiwan.

• Interest-bearing net debt decreased to DKK 19 billion, mainly due to a DKK 60 billion rights issue.

Board and executive committee updates

• Rasmus Errboe was appointed CEO in February 2025.

• The board established an asset project committee in 2024 to enhance project reviews and risk monitoring.

• Changes in executive remuneration reflected performance, with a 45.9% STI score and 20% LTI vesting.