”ZITON plays a vital role in ensuring that installed capacity remains operational, reliable, and productive. Keeping turbines running is not only a commercial opportunity for us - it is a contribution to Europe’s energy security and climate objectives.”
Thorsten Jalk, CEO at ZITON, presents the annual report of 2025, and reflects on a year of strong performance, strategic investments, and a strengthened foundation for future growth.
ZITON is the market-leading service provider in offshore wind operations and maintenance, specialising in major component replacements. We have completed over 2,100 MCRs at 88 wind farms across 8 countries.
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JANUARY - DECEMBER
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FEBRUARY - NOVEMBER
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With the currently known and relevant projects, the number of installed offshore turbines in Europe is expected to reach a total of around 11,800 within the next five years, and all of these will require servicing during their lifespan of at least 30 years.
The strategic direction
for ZITON contains
four key elements.
In 2025, we continued to operate in line with the ESG targets set out in the ESG-linked loan agreement signed in June 2023. During the year, the Executive Management Team and the Board of Directors developed ZITON Direct Compliance, a net zero plan targeting 2040. Under this plan, ZITON will comply with the EU’s FuelEU Maritime regulation from 2025, followed by IMO Direct Compliance from 2028. As part of this initiative, we began using HVO100 renewable fuel, supporting a reduction in the fleet’s well-to-wake emissions in line with the plan’s objectives to promote renewable and low-carbon fuels and progress towards net zero.
We remain committed to reducing emissions through SEEMP and continue to explore solutions such as hybrid systems and operational improvements to optimise fuel consumption. In parallel, we are actively pursuing our long-term strategy, which includes overall emissions targets aligned with our ambition to become net zero. This strategy also encompasses potential new-build programmes, the adoption of new propulsion systems, and the continued use of alternative fuels such as HVO100.
In 2025, we continued to see strong demand for full-service solutions for major component replacements and decommissioning projects. This reflects a growing customer preference for comprehensive service offerings. Throughout the year, we maintained high levels of customer satisfaction, successfully delivering complex projects as full-service solutions that address technical challenges and mitigate risk for our clients.
In 2026, the focus remains on further enhancing and expanding our full-service solutions for major component replacements, with particular emphasis on strengthening and increasing our WTG technician workforce. This will enable us to serve more customers, deliver greater value, and further strengthen ZITON’s market differentiation.
In 2025, J/U WIND DISCOVERY completed her upgrade programme in Denmark, after being acquired in China, and commenced her long-term charter. J/U WIND DISCOVERY is owned by ZITON’s sister company, DiscoveryCo ApS.
The initial focus for 2026 is to ensure that J/U WIND PIONEER and J/U WIND DISCOVERY completes their maintenance programmes in the beginning of the year. In addition, we are committed to minimising unplanned off-hire by maintaining our remaining vessels in optimal condition to meet the requirements of their current contracts. We will also continue to explore opportunities to expand our fleet in order to support the growing demand for servicing larger turbines.
During 2025, we revisited our machine learning platform to keep leveraging on Microsoft’s advancements in artificial intelligence and to integrate the latest market developments related to major component replacements. In addition, we continued to strengthen our cybersecurity measures to safeguard our digital infrastructure and ensure the integrity and security of our data-driven operations. We also made progress in developing a comprehensive data platform, with the first areas already incorporated.
In 2026, we will continue investing in digitalisation and our data platform to improve operational efficiency, decision making, workflow streamlining, data accessibility, and collaboration, with further development already underway. At the same time, we will strengthen cybersecurity in response to evolving threats and in line with the NIS2 Directive to protect critical systems, operational data, and customer information. We are also implementing a warehouse management system to enhance control, transparency, and efficiency in warehouse operations, while preparing a broader assessment of how AI can be applied across the business.
ZITON’s core business is to own and operate specialised jack-up vessels. ZITON provides full-service solutions for major component replacements, including maritime project planning & execution, lift planning & execution, specialised tools & lifting equipment, and technicians in addition to jack-ups with experienced crews.
We care for our environment, and our vessels are relatively less harmful to the environment compared to many of the other vessels in the market.
Jens Michael Haurum, CFO
Annual report for ZITON
Want to get the full overview of our 2025 financial results?
You can download the annual report below.
Dear stakeholders,
As CEO, I am pleased to present ZITON’s Annual Report for 2025. It has been a year of strong operational performance and significant strategic progress. Demand for our services has remained high throughout the year, driven by the growing number and ageing profile of offshore wind turbines across Europe. As a result, our financial performance exceeded our guidance, reflecting both strong vessel utilisation and the continued need for major component replacements in our core markets.
In January 2025, Macquarie Asset Management formally completed its acquisition of the ZITON Group, marking the beginning of a new and exciting chapter for the company. With a strong and committed owner, we have strengthened our platform for growth and long-term value creation.
A key milestone in 2025 was the acquisition of J/U WIND DISCOVERY, which is owned by our sister company DiscoveryCo ApS. Following her arrival in Europe, the vessel underwent a comprehensive upgrade programme, including the reinstatement of her helideck, before being successfully introduced into offshore wind O&M service. With six specialised vessels in operation, ZITON now operates the largest fleet dedicated to major component replacements in Europe, enabling us to support a broad range of turbine sizes and customer requirements.
During the year, we inaugurated our new, state-of-the-art warehouse facility at the Port of Esbjerg – a strategically important location at the heart of Europe’s offshore wind industry. This facility enhances our logistical capabilities, brings us closer to our vessels and customers, and strengthens our position as a full-service O&M provider. In addition, we have commenced construction of a new headquarters in Horsens, designed to accommodate our growing organisation and to provide a modern and collaborative working environment for the years ahead.
We continue to operate in a world affected by geopolitical uncertainty, conflict, and economic volatility. At the same time, Europe’s determination to strengthen its energy independence and accelerate the renewable energy transition has never been more evident. Offshore wind remains a cornerstone of this ambition. In this context, ZITON plays a vital role in ensuring that installed capacity remains operational, reliable, and productive. Keeping turbines running is not only a commercial opportunity for us – it is a contribution to Europe’s energy security and climate objectives.
I would like to thank our customers, partners, and dedicated employees offshore and onshore for their commitment and collaboration throughout the year. Together with our new ownership and a strong market outlook, we are well positioned to continue building on this momentum in 2026 and beyond.
Sincerely,
Thorsten Jalk,
CEO, ZITON A/S
Set out below are the key financial figures we use in decision-making and to evaluate our performance including prior-year comparative figures.
ZITON prepares its consolidated financial statements in accordance with IFRS. Key figures and ratios are presented following CFA Society Denmark’s online version of “Recommendations & Ratios.” In addition to IFRS reporting, ZITON applies alternative performance measures (“APMs”) in line with the European Securities and Markets Authority (ESMA) directives.
Want to get the full overview of our 2025 financial results?
You can download the annual report below.