Orsted reported lower second-quarter profit, hit by write-downs, but said all projects are on schedule and within planned costs. The Danish renewable-energy company said Thursday that quarterly net profit sank to 518 million Danish kroner ($79.9 million) from 3.10 billion kroner previously.

Higher taxes and noncash impairment charges this year due to increases in long-dated U.S. interest rates, as well as last year's gains on asset sales, caused the drop. Operating profit before depreciation, amortization, and impairment losses fell to 5.42 billion kroner from 6.64 billion kroner in the year-earlier period.

This was above the consensus of 5.10 billion kroner provided by the company. Revenue was up 21% at 20.65 billion kroner, mainly due to higher generation and prices.