---
title: "Ørsted Horns Rev I A/S — Financial report"
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locale: "en"
route_type: "company_financials"
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---

# Ørsted Horns Rev I A/S — Financial report

CVR 31164192

## Latest financial period

- 2025 • 2025-01-01 • 2025-12-31 • entity • DKK • 116833000 • 67053000 • 23221000 • 15964000 • 609310000 • 268039000 • 1000

## Financial history

- 2024 • 2024-01-01 • 2024-12-31 • entity • DKK • 102970000 • 74625000 • 58481000 • 51371000 • 568885000 • 252075000 • 1000

- 2023 • 2023-01-01 • 2023-12-31 • entity • DKK • 133971000 • 57891000 • 51743000 • 45567000 • 535933000 • 200704000 • 1000

- 2022 • 2022-01-01 • 2022-12-31 • entity • DKK • 297022000 • 244635000 • 228141000 • 170852000 • 650637000 • 255137000 • 1

- 2021 • 2021-01-01 • 2021-12-31 • entity • DKK • 126536000 • 83167000 • 73825000 • 52338000 • 302897000 • 84285000 • 1

- 2020 • 2020-01-01 • 2020-12-31 • entity • DKK • 49413000 • 7092000 • -27806000 • -27151000 • 234123000 • 31947000 • 1

- 2019 • 2019-01-01 • 2019-12-31 • entity • DKK • 59649000 • 17782000 • -30825000 • -29581000 • 243390000 • 59098000 • 1

- 2018 • 2018-01-01 • 2018-12-31 • entity • DKK • 65169000 • 26578000 • -35142000 • -33105000 • 271586000 • 88679000 • 1

- 2017 • 2017-01-01 • 2017-12-31 • entity • DKK • 76136000 • 43518000 • -67046000 • -58458000 • 298473000 • 121784000 • 1

## Annual report highlights

- primary activities • The Company's objects are to engage in activities in the energy sector and ancillary activities.

The Company holds 40% of the shares in the joint operation of Horns Rev 1.

The windfarm of Horns Rev 1 consists of 80 wind turbines with a total production capacity of 160MW. The windfarm of Horns Rev 1 is located in the North Sea approximately 15-20 kilometers off the west coast of Jutland. • entity

- primary activities • The Company's objects are to engage in activities in the energy sector and ancillary activities.

The Company holds 40% of the shares in the joint operation of Horns Rev 1.The windfarm of Horns Rev 1 consists of 80 wind turbines with a total production capacity of 160MW. The windfarm of Horns Rev 1 is located in the North Sea approximately 15-20 kilometers off the west coast of Jutland. • entity

- development in activities and financial affairs • The company's income statement for the year ended 31 December 2025 shows a profit of 15.964 TDKK \(2024: profit of 51.371 TDKK\), and the balance sheet at 31 December 2025 shows equity of 268.040 TDKK \(2024: 252.075 TDKK\). • entity

- expected development • Financial performance for 2026 is expected to be in line with 2025 due to continuing stable operations and power prices. Profit before taxes for 2026 is expected to be between 55.000-60.000 TDKK. • entity

- result compared with expectations • The development of the financial performance for 2025 has been as expected due to stable operation and power prices. Profit before taxes ended though lower than expected due to higher other external expenses and lower net financials. • entity

- recognition measurement uncertainty • Apart from the uncertainties surrounding future costs for decommissioning of production assets and restoring the seabed, the recognition and measurement of items in the annual report are not subject to any uncertainties. • 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.

The company participate at a rate of 40 % in a joint operation in respect of a project within renewable energy. The company is jointly and severally liable together with other participants for liabilities relating to agreements entered into. The company has no other material contingent liabilities. • entity