Ørsted Wind Power Holding A/S — Financial report

Ørsted Wind Power Holding A/S (CVR 18936674). Reporting period: 2025-01-01 – 2025-12-31. Gross profit -73M DKK, profit after tax -6.3B DKK, equity 100.7B DKK.

CVR 18936674

Latest financial period

  • 2025 • 2025-01-01 • 2025-12-31 • entity • DKK • -72982000 • -72982000 • -6309371000 • 178776038000 • 100654446000 • 1000

Financial history

  • 2024 • 2024-01-01 • 2024-12-31 • entity • DKK • -79512000 • -79512000 • -2601471000 • 157013714000 • 88463817000 • 1000
  • 2023 • 2023-01-01 • 2023-12-31 • entity • DKK • 0 • -87548000 • -87548000 • -2488669000 • 116220404000 • 41065288000 • 1000
  • 2022 • 2022-01-01 • 2022-12-31 • entity • DKK • 0 • -832000 • -832000 • -356766000 • 107836218000 • 43553957000 • 1
  • 2021 • 2021-01-01 • 2021-12-31 • entity • DKK • 0 • 9193000 • 9193000 • 7922623000 • 47913927000 • 47910723000 • 1
  • 2020 • 2020-01-01 • 2020-12-31 • entity • DKK • 0 • -18000 • -18000 • 20362463000 • 52011312000 • 51988100000 • 1
  • 2019 • 2019-01-01 • 2019-12-31 • entity • DKK • -380000 • -380000 • 25403125000 • 39655309000 • 39625637000 • 1
  • 2018 • 2018-01-01 • 2018-12-31 • entity • DKK • 3285000 • 3285000 • 3813032000 • 17776217000 • 17722511000 • 1
  • 2017 • 2017-01-01 • 2017-12-31 • entity • DKK • -209000 • -1209000 • 3725926000 • 17471638000 • 17409479000 • 1

Annual report highlights

  • primary activities • The purpose of the company is to hold shares in subsidiaries. • entity
  • development in activities and financial affairs • The company's income statement for the year ended 31 December 2025 shows a loss of (6.309.371) TDKK (2024: loss of (2.601.471) TDKK), and the balance sheet at 31 December 2025 shows equity of 100.654.446 TDKK (2024: 88.463.817 TDKK). During 2025, the Company received dividend income of TDKK 3,575,666 from subsidiaries.The financial performance for the year was impacted by an impairment loss of TDKK 3,774,237 on investments in subsidiaries. The impairment was driven mainly by a deterioration in the valuation of US projects following construction delays, cost inflation, and expected project termination costs. Management continuously monitors project economics and market conditions, and the impairment reflects updated expectations regarding the future recoverability of these investments. During 2025, the Company divested its entire investment in Hornsea Three Holdings Limited as part of Ørsted's transaction with Apollo concerning Hornsea 3. The transaction resulted in a loss on disposal of subsidiaries of TDKK 4,332,595, recognised in the income statement for the year. • entity
  • development in activities and financial affairs • The company's income statement for the year ended 31 December 2025 shows a loss of (6.309.371) TDKK (2024: loss of (2.601.471) TDKK), and the balance sheet at 31 December 2025 shows equity of 100.654.446 TDKK (2024: 88.463.817 TDKK). During 2025, the Company received dividend income of TDKK 3,575,666 from subsidiaries. The financial performance for the year was impacted by an impairment loss of TDKK 3,774,237 on investments in subsidiaries. The impairment was driven mainly by a deterioration in the valuation of US projects following construction delays, cost inflation, and expected project termination costs. Management continuously monitors project economics and market conditions, and the impairment reflects updated expectations regarding the future recoverability of these investments. During 2025, the Company divested its entire investment in Hornsea Three Holdings Limited as part of Ørsted's transaction with Apollo concerning Hornsea 3. The transaction resulted in a loss on disposal of subsidiaries of TDKK 4,332,595, recognised in the income statement for the year. • entity
  • expected development • Profit before taxes for 2026 is expected to be a loss of about 1,300-1,700 TDKK. No dividend income is expected for 2026. No divestment is expected for 2026. • entity
  • recognition measurement uncertainty • The Company's financial performance for the year was affected by management estimates and assumptions applied in connection with the valuation of investments in subsidiaries and the divestment of the Hornsea 3 (HOW03) project. Impairment of investments in subsidiaries The impairment assessment required management judgement, particularly regarding the determination of the recoverable amount of the underlying investments. The valuation is subject to uncertainties related to future project economics, including expected construction costs, project execution timelines, anticipated power prices, discount rates and expected project termination costs. The impairment recognised during the year was primarily driven by a deterioration in the valuation of certain US projects following construction delays, cost inflation and updated estimates of project termination costs. As changes in the underlying assumptions could materially affect future valuations, uncertainty remains regarding the ultimate recoverability of these investments. Hornsea 3 (HOW03) divestment The accounting for the divestment of the Company's interest in Hornsea 3 involved judgement and estimates, including the determination of the transaction consideration, allocation of proceeds and assessment of the resulting gain or loss on disposal. The measurement of the transaction is subject to uncertainties relating to the final settlement of transaction-specific provisions and the valuation assumptions underlying the transaction. • entity
  • unusual matters • In pursuance of Section 99d of the Danish Financial Statements Act, the Company has omitted information on data ethics. Reference is made to the 2025 Data Ethics statement of Ørsted A/S: https://cdn.orsted.com/-/media/annual-2025/report-on-data-ethics-section-99d-for-2025.pdf? rev=c28130d4a1dd469fb5bba112520f0489&hash=6C0F331EF4CF9683C587F95E4DF93C0” • entity
  • unusual matters • In pursuance of Section 99d of the Danish Financial Statements Act, the Company has omitted information on data ethics. Reference is made to the 2025 Data Ethics statement of Ørsted A/S: https://cdn.orsted.com/-/media/annual-2025/report-on-data-ethics-section-99d-for-2025.pdf? rev=c28130d4a1dd469fb5bba112520f0489&hash=6C0F331EF4CF9683C587F95E4DF93C0” • entity
  • subsequent events • No events have occurred after the balance sheet date which could significantly affect the company's financial position. • entity
  • contingent liabilities • The group's Danish companies are jointly and severally liable for tax on group jointly taxes income, etc. Reference is made to the annual report for Ørsted A/S, the administration company in relation to joint taxation. The group's Danish companies are also jointly and severally liable for Danish withholding taxes on dividends, royalties and interests within the group of jointly taxed entities. Any subsequent corrections to income and withholding taxes may result in an increase in the entities' liability. The group's danish entities are jointly and severally liable for joint VAT registration. • entity