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Annual Report 2020

In an unusual year, Danske Commodities delivered solid financial results with adjusted EBIT of EUR 44.3 million. Although energy markets and ways of working were seriously affected by the Covid-19 pandemic, earnings for 2020 were stable and level with the previous year.

ANNUAL REPORT IN SHORT

  • Reporting adjusted EBIT of EUR 44.3 million, Danske Commodities overcame tough trading conditions in an unpredictable year for energy markets
  • Driven by its scalable business model, Danske Commodities grew traded volumes by 94% to 2,170 TWh, resulting in an 18% increase in gross turnover while keeping costs stable
  • The amplified commercial activities were also reflected in the balance sheet total, which was up by 60% to EUR 1.2 billion at 31 December 2020
  • Danske Commodities has the necessary financial strength to support growth of this magnitude as available cash in 2020 more than doubled to EUR 162 million, combined with equity of EUR 332 million

Overcoming tough trading conditions, Danske Commodities kept up the pace and delivered solid earnings at the same level as the previous year

Helle Østergaard Kristiansen, CEO

CEO Helle Østergaard Kristiansen at Danske Commodities headquarters in Aarhus
Leadership

Clear direction

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

Energy trader looking at computer screens
Trading

Energy trading

Our core business has always been energy trading. We currently trade in 39 countries, specialising in renewable energy and emerging markets.

Transmission cables and blue sky
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.

ADJUSTED EBIT

44.3

EURm in 2020

GROSS TURNOVER

11.8

EURbn in 2020

EQUITY

332.4

EURm in 2020