Half-yearly report 2020 for the Energi Danmark Group

During the first half of 2020 the Energi Danmark Group realised a profit before tax of DKK 130.6 million. This corresponds to a yearly return on equity before tax of 22%. The revenue of DKK 21.5 billion in the first half of 2020 is on the same level as the previous year. 

2020 was off to a challenging start with rapidly falling energy prices and the COVID-19 virus affecting the society and economy in all countries. In the 1st quarter of 2020 the sale of the subsidiary Energi Danmark Vind A/S was completed and recognized in the financial statement with an amount of DKK 147.7 million. 

The effect of the COVID-19 virus resulted in lower energy consumption than expected, especially in the 2nd quarter of 2020 on the German and Swedish markets, resulting in a loss for the Group. The 2020 halfyear result is in line with the plan, and the expectations for the year 2020 as a whole are maintained. Despite intensive competition The Energi Danmark Group have had a solid first half-year in terms of sales to its customers in the Nordic and German markets for future delivery in the next five years. 

Find the half-yearly report 2020 here