Annual Report 2018

In 2018, Danske Commodities lived up to the company creed 'Challenge. Compete. Repeat.' by repeating another record year and exceeding the 2017 EBIT by 28% at an impressive EUR 72 million in 2018.

 

ANNUAL REPORT IN SHORT

  • Danske Commodities' 2018 financial results show a 28% increase in EBIT to EUR 72 million – a record result for the company.
  • The performance was driven by periods with high price volatility as well as an increase in traded volumes, which produced a 71% revenue improvement from EUR 5,472 million in 2017 to EUR 9,377 million in 2018.
  • Gross profit grew 19% to EUR 123 million, while the cost base remained stable with a slight increase of 9%, resulting in both top and bottom-line growth. 
  • Free cash flow about doubled compared to 2017 and ended at EUR 46 million in 2018. We maintained a solid cash position, amounting to EUR 70 million at 31 December 2018.
  • Return on equity was a record-high 61.5% in 2018. The significant increase compared to 2017 was explained by the strong profit for the year in 2018 and continuous optimisation of our balance sheet.

The extraordinary EBIT performance of 72 million EUR was driven by our market expertise, fast response time and scalable business model

Helle Østergaard Kristiansen, CFO

Leadership

A clear direction

A solid performance requires a clear direction. Our experienced Senior Management Group and board provide the framework for how we conduct business.

Energy Trading Services
Services

Energy Trading Services

Trading activities are the engine of our business, while our trading capabilities enable us to offer a range of flexible, value-adding services.

Trading

Our core business

Our core business has always been energy trading. We currently trade in more than 30 countries, specialising in renewable energy and emerging markets.

EBIT

72

EURm in 2018

GROSS PROFIT

123

EURm in 2018

RETURN ON EQUITY

62

% in 2018