Energy

Verdo Energy establishes, operates and services all types of energy plants that contribute to the green transition, with a focus on the industrial market and utilities.

- Annual revenue has been impacted by the postponement of several orders. These include projects for Kvitebjørn Varme and Haslev Fjernvarme. The Kvitebjørn project was ultimately launched in late 2022, while the Haslev project is still delayed. Rising material prices and the Norwegian krone have also had a negative impact on earnings, as Verdo has several large projects in Norway. As a result, Verdo Energy had a loss of DKK 22 million after tax in 2022.

- 2022 has looked good in terms of orders. Verdo Energy has accepted orders valued at more than DKK 500 million. These include two large orders for ‘Waste to Energy’ facilities in Norway. These are a waste-fired boiler plant for Kvitebjørn Varme in Tromsø and a CHP plant for Senja Avfall in northern Norway. We have also won orders for biomass plants for Skive and Aabybro. We saw biomass plants make a strong comeback in 2022 due to rising gas prices. Right after the end of the financial year, we contracted with the Region of Southern Denmark to supply district cooling based on a heat pump for the new super hospital in Odense. The many new orders will be realised during 2023-2025.

- The Automation and Service & Industri business areas saw satisfactory growth in 2022. With the appointment of many new employees the current buildings in Storvorde have become too small. We are therefore planning the construction of a more modern new head office in Aalborg, where we will gather the employees from Storvorde along with those currently in Aalborg.

- Throughout Verdo Energy, we are working hard to introduce and better utilise digitalisation, so we can help make life easier for customers. Digitalisation must also contribute to streamlining and optimising the business.

- We now have a strong business and a foundation on which we can build future district heating solutions. Verdo will therefore be able to make a strong contribution to the green transition in Denmark, Northern Europe and Eastern Europe in the future. We have also won the orders we have assumed in the budget. Our expectations for Verdo Energy in 2023 are therefore very positive.

RATIOS: Energy

The table covers: Verdo Energy Systems A/S, Verdo Energy Systems GL ApS and Verdo Energy Systems Sp Z.o.o