iso4217:DKK xbrli:pure 27256821 2024-01-01 2024-12-31 27256821 2024-12-31 27256821 2024-12-31 fsa:ContributedCapitalMember 27256821 2024-12-31 fsa:ProposedDividendRecognisedInEquityMember 27256821 2024-12-31 fsa:RetainedEarningsMember 27256821 2024-12-31 fsa:InvestmentsInGroupEnterprisesMember 27256821 2024-01-01 2024-12-31 1 27256821 2024-01-01 2024-12-31 1 27256821 2024-01-01 2024-12-31 fsa:ContributedCapitalMember 27256821 2024-01-01 2024-12-31 fsa:ProposedDividendRecognisedInEquityMember 27256821 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 27256821 2024-01-01 2024-12-31 fsa:ProposedDividendRecognisedInEquityMember 27256821 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 27256821 2023-12-31 27256821 2023-12-31 fsa:ContributedCapitalMember 27256821 2023-12-31 fsa:ProposedDividendRecognisedInEquityMember 27256821 2023-12-31 fsa:RetainedEarningsMember 27256821 2023-12-31 fsa:InvestmentsInGroupEnterprisesMember 27256821 2023-01-01 2023-12-31 27256821 2023-12-31 27256821 2023-12-31 fsa:InvestmentsInGroupEnterprisesMember 27256821 2023-01-01 2023-12-31 fsa:ProposedDividendRecognisedInEquityMember 27256821 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 27256821 2022-12-31 fsa:InvestmentsInGroupEnterprisesMember Annual report Reporting class B 36213728 Ørsted A/S Ørsted A/S 7000 Fredericia 2023-01-01 2023-12-31 Auditor's report on audited financial statements Opinion Basis for Opinion 2025-06-26 Jeppe Skov Andersen Ørsted Vind A/S Kraftværksvej 53 Skærbæk 7000 Fredericia 27256821 2024-01-01 2024-12-31 2025-06-26 Lars Brinch Danielsen, Executive board PricewaterhouseCoopers Strandvejen 44 2900 Hellerup The Board of Directors and the Executive Board have today discussed and approved the annual report of Ørsted Vind A/S for the financial year 1 January - 31 December 2024. The annual report is prepared in accordance with the Danish Financial Statements Act. In our opinion, the company financial statements give a true and fair view of the company's financial position at 31 December 2024 and of the results of the company's operations for the financial year 1 January - 31 December 2024. Management recommends that the annual report should be approved at the annual general meeting. In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at31 December 2024 and of the results of the Company’s operations for the financial year 1 January - 31 December 2024 in accordance with the Danish Financial Statements Act.We have audited the Financial Statements of Ørsted Vind A/S for the financial year 1 January - 31 December 2024, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies ("the Financial Statements"). We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the “Auditor’s responsibilities for the audit of the Financial Statements" section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.In preparing the Financial Statements, Management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the Financial Statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Financial Statements.As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the Financial Statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.Evaluate the overall presentation, structure and contents of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Copenhagen 2025-06-20 PricewaterhouseCoopers 33771231 Frederik Tvedeskov Jantzen mne47815 The annual report of Ørsted Vind A/S for 2024 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to Reporting class B entities, as well as selected rules applying to reporting class C.The accounting policies used in the preparation of the financial statements are consistent with those of last year. The annual report for 2024 is presented in TDKK.Pursuant to sections §112, of the Danish Financial Statements Act, the company has not prepared consolidated financial statements. Income is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including depreciation and impairment losses, are also recognised in the income statement.Assets are recognised in the balance sheet when it is probable that future economic benefits will flow to the company and the value of the asset can be measured reliably.Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow from the company and the value of the liability can be measured reliably.On initial recognition, assets and liabilities are measured at cost. On subsequent recognition, assets and liabilities are measured as described below for each individual accounting item.Certain financial assets and liabilities are measured at amortised cost using the effective interest method. Amortised cost is calculated as the historic cost less any installments and plus/less the accumulated amortisation of the difference between the cost and the nominal amount.On recognition and measurement, allowance is made for predictable losses and risks which occur before the annual report is presented and which confirm or invalidate matters existing at the balance sheet date. Other external expenses include expenses related to administration. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Net financials include interest income and expenses, financial expenses relating to realised and unrealised capital/exchange gains and losses on securities and foreign currency transactions and surcharges and allowances under tax payments, etc. Dividend from investments is recognised in the reporting year in which the dividend is declared. The company is subject to the Danish rules on mandatory joint taxation of the Group's Danish subsidiaries. Subsidiaries are included in the joint taxation arrangement from the date when they are included in the consolidated financial statements and up to the date when they are no longer consolidated.The ultimate parent company acts as management company for the joint taxation arrangement and consequently settles all corporate income tax payments with the tax authorities. On payment of joint taxation contributions, the Danish corporate income tax charge is allocated between the jointly taxed entities in proportion to their taxable income. Entities with tax losses receive joint taxation contributions from entities that have been able to use the tax losses to reduce their own taxable income.The tax expense for the year, which comprises the year's current tax charge, joint taxation contributions and changes in the deferred tax charge - including changes arising from changes in tax rates - is recognised in the income statement as regards the portion that relates to the profit/loss for the year and directly in equity as regards the portion that relates to entries directly in equity. Investments in subsidiariesInvestment in subsidiaries are measured at cost. If cost exceeds the recoverable amount, a write-down is made to this lower value.Where the parent company has a legal or constructive obligation to cover the companies' negative balances or obligations, such obligation is recognised in liabilities. Impairment of fixed assetsThe carrying amount of investments in subsidiaries is reviewed for impairment, other than what is reflected through normal amortisation and depreciation, on an annual basis.Where there are indications of impairment, an impairment test is performed for each individual asset or group of assets, respectively. The carrying amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount).The value in use is determined as the present value of the anticipated net cash flows from the use of the asset or group of assets and the anticipated net cash flows from the disposal of the asset orgroup of assets after the end of their useful life. ReceivablesReceivables are measured at amortised cost.An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual basis. Income tax and deferred taxCurrent tax liabilities and current tax receivables are recognised in the balance sheet as the estimated tax on the taxable income for the year, adjusted for tax on the taxable income for previous years and tax paid on account.The company and all its Danish group entities are taxed on a joint basis. The current income tax charge is allocated between the jointly taxed entities relative to their taxable income. Tax losses are allocated based on the full absorption method. The jointly taxed entities are eligible for the Danish Tax Prepayment Scheme.Joint taxation contributions payable and receivable are recognised in the balance sheet as 'Corporation tax receivable' or 'Corporation tax payable'.Deferred tax is measured according to the liability method in respect of temporary differences between the carrying amount of assets and liabilities and their tax base, calculated on the basis of the planned use of the asset and settlement of the liability, respectively. Deferred tax is measured at net realisable value. Liabilities, which include trade payables, payables to group entities and other payables, are measured at amortised cost, which is usually equivalent to nominal value. On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and at the date of payment are recognised in the income statement as financial income or financial expenses.Receivables and payables and other monetary items denominated in foreign currencies are translated at the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the latest financial statements is recognised in the income statement as financial income or financial expenses.Fixed assets acquired in foreign currencies are translated at the exchange rate at the transaction date. The purpose of the company is to hold shares in subsidiaries. The company's receivables from group companies includes TDKK 11.676.675 in a cash pool scheme with the ultimate parent company Ørsted A/S (2023: TDKK 2.621.522). The share capital consists of 7 shares of a nominal value of TDKK 1.000. No shares carry any special rights.There have been no changes in the share capital during the last 5 years. No events have occurred after the balance sheet date which could significantly affect the company's financial position. 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. Controlling interestØrsted A/S, Kraftværksvej 53, 7000 Fredericia (parent company)Other related partiesØrsted A/S (Ultimate parent company)The Danish State represented by the Ministry of FinanceGroup enterprises and associatesBoard of directors, executive board and senior employee -32000 -13000 -32000 -13000 0 0 -32000 -13000 8713355000 0 368861000 85329000 -8519000 -312000 9073665000 85004000 -79259000 -18664000 8994406000 66340000 1770153000 1770153000 1770153000 1770153000 1770153000 1770153000 0 41000 11676675000 2621681000 11676675000 2621722000 11676675000 2621722000 13446828000 4391875000 7000000 7000000 13367526000 4373120000 18000 0 16000 54000 79268000 18701000 79302000 18755000 79302000 18755000 13446828000 4391875000 7000000 4366120000 0 4373120000 0 -2005594000 11000000000 7000000 2360526000 11000000000 1000 1000 360352000 85015000 2000 311000 8507000 3000 -8519000 -311000 -0 -1000 79268000 18701000 -9000 -46000 0 9000 11000000000 0 -2005594000 66340000 1770153000 1770153000 1770153000 1770153000 1770153000 1770153000