Top credit rating boosts Danske Commodities' business growth

Aarhus, Danmark, 22 June 2020

Danish energy trading company Danske Commodities announced today that it has received a Baa1-rating from Moody's Investor Service, one of the world's biggest credit rating agencies. The strong rating will support the future growth of the company.

The Baa1-rating is two notches above investment grade and underlines Danske Commodities’ strengthened financial position under the ownership of energy major Equinor.

In its report, Moody’s Investor Service states that the rating reflects “Danske Commodities’ solid stand-alone credit profile with a good track record of strong revenue growth and satisfactory profitability, a lowly leveraged balance sheet with no external financial debt and a well-established risk management with relatively low risk appetite.”

The rating also takes into consideration the company’s strategic importance to owner Equinor, and Equinor’s parent oversight.

“We are thrilled to receive a strong first-time credit rating from Moody’s. It is a great recognition of the strength of our business and of the successful integration of Danske Commodities into Equinor, clearly illustrating Danske Commodities’ position as a financially solid partner in the market,” said Danske Commodities’ CFO Lars Troen Sørensen.

“The rating will support the continued growth of our business. We can continue to expand our product range and we will be able to expand further geographically. At the same time, the credit rating means that Danske Commodities can participate in tenders where only rated companies are invited and it will influence our ability to engage in longer-term supply and off-take agreements faster and more cost-effectively,” Lars Troen Sørensen concluded.

Danske Commodities is currently trading in 39 countries, including Australia, the US and all major European energy markets.

WHO IS DANSKE COMMODITIES

Danske Commodities is an energy trading company that specialises in short-term power and gas trading and offers balancing, optimisation and hedging services to energy producers and suppliers. Every day, the company completes more than 5750 trades across 39 countries, constantly moving energy from where there is more than needed to where it is needed most. Danske Commodities is a wholly-owned subsidiary to Norwegian energy company Equinor, operating under its own name and brand.

DOWNLOAD MEDIA RELEASES

Get in touch

Mads Schmidt Christensen Danske Commodities

MADS SCHMIDT CHRISTENSEN
Director, Head of Strategy & Communications

For more information please contact Mads Schmidt Christensen.

CONTACT

Direct contact information:

Mads Schmidt Christensen

T: +45 2794 2249

E: msc@danskecommodities.com

Thanks for your enquiry. We will get back to you as soon as possible.

Two employees looking thoughtfully at screen
Financials

Financial overview

Innovation, speed to market and business acumen have been key factors in Danske Commodities' solid financial performance over the years.

Danske Commodities Annual Report 2019
Annual Report

Annual Report 2019

Benefitting from increased scale and automation, we delivered a strong financial performance in a transformative year, when we became part of Equinor.

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.