CS WIND Offshore reports strong profit for 2025
For the financial year ending 31 December 2025, CS WIND Offshore A/S achieved EBIT of DKK 120 million, in line with expectations at the beginning of the year.
PRESS RELEASE
Aalborg, Denmark, 12 May 2026
For the financial year ending 31 December 2025, CS WIND Offshore A/S achieved EBIT of DKK 120 million, in line with expectations at the beginning of the year. The result includes a significant impairment of DKK 675 million recognized at the Lindø monopile production facility at Odense Port, reflecting the continued lack of orders for monopile foundations in a challenging market environment.
The impairment had a material impact on the reported figures for 2025; nevertheless, the company is proud to report a notable improvement in profit. Before impairment, EBIT amounted to DKK 795 million, demonstrating an outstanding underlying performance.
- Considering the market developments and the significant impairment recognized in 2025, the underlying results demonstrate the resilience of our company. CS WIND Offshore stands on a solid financial and operational foundation and remains well positioned to move forward as market conditions improve, says Mr. Hee Joung Moon, CEO of CS WIND Offshore and continues:
- I would like to thank our employees for their professionalism and commitment throughout a demanding year, as well as our customers, suppliers, and other partners for their continued trust and collaboration. Their efforts have been essential in delivering projects safely and efficiently despite challenging market conditions.
Solid liquidity position
During 2025, CS WIND Offshore adjusted its cost structure to align with prevailing market conditions and maintained a focus on operational efficiency and disciplined project execution. As a result, the company has in recent years strengthened its liquidity position significantly, with cash holdings exceeding credit liabilities. As of 31 December 2025, equity amounted to DKK 379 million.
Strategic investments and role of Aalborg facility
The Aalborg facility has been designated as the central foundation hub within the CS Wind Group. In parallel, CS WIND Offshore’s owners invested approximately DKK 65 million in the Aalborg facility during 2025. The investments strengthened the site’s capabilities and operational effectiveness and support its long‑term role in the global market for offshore wind transition pieces. This represents one of the most significant capital investments in the Aalborg facility in recent years. Further investments of DKK 50 million for modernization and optimization activities are planned for 2026.
Project execution in 2025
Operationally, several significant projects were completed during the year. These included the delivery of the largest transition piece project to date comprising 176 transition pieces for Coastal Virginia Offshore Wind, two monopile foundation projects, among them the largest monopile produced for the offshore wind sector, weighing 2,515 tons and two offshore substations for the Baltic Power offshore wind farm in Poland. Offshore substation activities are being phased out as planned, with 2025 primarily focused on finalizing the remaining projects. CS Wind Offshore A/S has not pursued any new offshore substation orders during 2025 as this business area does not strategically fit with the competencies and capabilities of the CS Wind Group.
Lindø impairment and financial outlook for 2026
The impairment related to Lindø was driven by external market developments, including project cancellations from the US market, which consequently resulted in no order intake for the Lindø facility during 2025. The outlook for Lindø remains uncertain, and several future scenarios are currently under evaluation.
- By recognizing the significant impairment for the Lindø facility in 2025, we are taking a conservative and disciplined financial position which reflects current market conditions. We stand on a solid financial position while we are executing our pipeline of TP projects in Aalborg. We are well prepared for the rebound of the offshore wind market supported by strong political commitment, requesting more renewable energy based on a resilient and independent European supply chain for offshore wind, says Mr. Hee Joung Moon.
Despite ongoing market uncertainty, CS WIND Offshore expects to deliver a stronger financial result for 2026 than for 2025.
About CS WIND Offshore
CS WIND Offshore is headquartered in Aalborg, Denmark, and focuses on manufacturing offshore wind foundations. It operates as part of the CS Wind Corporation, a leading global supplier of wind turbine towers. Established in 1965 as Bladt Industries, CS WIND Offshore has participated in over 50 wind farm projects and delivered more than 3,200 foundations worldwide.
Contact
Anne Rahn, Communication Partner
ara@cswind.com
Tel.: +45 2054 2611
Photos for download: https://www.cswoffshore.com/media/
