Ørsted, a Denmark-based PV and renewable energy developer, has reported its Q4 FY2025 financial results. According to the investor presentation, EBITDA was DKK 3,869 million (~ $619 million), compared with DKK 8,353 million (~ $1,336 million) previously. EBITDA excluding new partnerships and cancellation fees was DKK 8,095 million (~ $1,295 million), compared with DKK 7,554 million (~ $1,208 million) earlier, reflecting underlying operational performance. Operating profit was a loss of DKK 1,041 million (~ $167 million loss), compared with a loss of DKK 6,345 million (~ $1,015 million loss). Net profit was a loss of DKK 3,371 million (~ $539 million loss), reflecting partnership and impairment-related impacts. Operating cash flow increased to DKK 17,087 million (~ $2,734 million), compared with DKK 10,306 million (~ $1,649 million), while net interest-bearing debt declined to DKK 18,978 million (~ $3,036 million). The company expects EBITDA excluding partnerships and cancellation fees to exceed DKK 28 billion in 2026.