In 2017 we continued on our path of planned growth, generating the strongest financial results in the history of Danske Commodities. We generated EBT of EUR 60 million, up 79% from last year, and grew our gross profit by 22% to EUR 103 million, showing both top- and bottom-line growth.
Danske Commodities' 2017 financial results show a 79% increase in EBT to EUR 60 million – a record result for the company.
Higher trading volumes and a lower cost base drove a 79% increase in EBT, demonstrating the scalability of our business model.
Revenue increased 65% from EUR 3,321 million in 2016 to EUR 5,472 million in 2017.
Gross profit was up by 22% to EUR 103 million while costs declined by 7%.
As expected, pressure on margins continued in 2017 with the gross margin declining to 1.9% from 2.6% in 2016. The impact of lower margins was offset by the higher volumes traded.
Helle Østergaard Kristiansen, CFO
A solid performance requires a clear direction. Our experienced Senior Management Group and board provide the framework for how we conduct business.
Trading activities are the engine of our business, while our trading capabilities enable us to offer a range of flexible, value-adding services.
Our core business has always been energy trading. We currently trade in more than 30 countries, specialising in renewable energy and emerging markets.
EURm in 2017
EURm in 2017
RETURN ON EQUITY
% in 2017