Danske Commodities A/S
A/SActiveCVR 28113951Kalkværksvej 16, 8000 Aarhus CTrade of electricity· NACE 3515Est. 2004 · 22 years old614 employeeshttps://www.danskecommodities.com
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Overview
Danske Commodities A/S is a Danish A/S based in Aarhus C, operating in the Trade of electricity sector. Incorporated in 2004, the company has 614 employees and reported revenue of DKK 2.4bn in its latest annual filing.
Revenue 2025
2.4B DKK
0% vs 2024
EBITDA margin
1.1 %
−85% vs 2024
Net profit 2025
0B DKK
-82% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
68.0 %
StrongAmong the 40% highest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
3.1×
StrongAmong the 30% highest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
0.9 %
StrongAmong the 40% highest rated companies in the industry
20212025
EBITDA — year on year
DKK millionsKey figures
Annual report 2025| Revenue | 2.4B DKK | 0% |
| EBITDA | 0B DKK | -85% |
| Net profit | 0B DKK | -82% |
| Total assets | 3B DKK | -8% |
| Equity | 2.1B DKK | -6% |
| Employees | 614 | — |
Company information
Legal name
DANSKE COMMODITIES A/S
CVR number
28113951
Legal form
Aktieselskab
NACE code
3515 · Trade of electricity
Founded
23 September 2004 · 22 years
Share capital
DKK 175,000,000
Employees
614 (FTE)
VAT registered
Yes
Audit selected
Yes
Last report
2025-12-31
Financial year
January – December
Signatory rights
Selskabet tegnes af et medlem af direktionen, bestyrelsesformanden eller af den samlede bestyrelse.
Company purpose
Selskabets formål er at drive handel med energi og råvarer samt andre hermed forbundne forretningsaktiviteter, dels i eget regi og dels i koncernforbundne selskaber.
(no translation available)
Contact
Address
Kalkværksvej 16, 8000 Aarhus C
Phone
+45 8833 8181
Email
legal@danskecommodities.com
Website
https://www.danskecommodities.com
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Financial development
In its most recent annual report (2025), Danske Commodities A/S reported revenue of DKK 2.4bn, broadly in line with the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net profit of DKK 26.9m, and the EBITDA margin stood at 1.1%.
At the end of 2025, equity financed 68% of the balance sheet, and current assets covered short-term debt 3.1 times.
Financials
Revenue
DKK millionsEBITDA
DKK millionsIncome statement
DKK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 2,436,749 | 2,425,209 | 3,046,453 | 6,362,909 | 2,437,891 |
| Staff expenses | -77,798 | -77,239 | -57,607 | -72,020 | -49,729 |
| EBITDA | 27,409 | 182,089 | 315,547 | 1,892,188 | 398,695 |
| Depreciation & amort. | -13,697 | -12,875 | -11,925 | -13,490 | -16,537 |
| EBIT | 13,712 | 169,214 | 303,622 | 1,878,698 | 382,158 |
| Net financials | 26,954 | 30,880 | 144,643 | -12,421 | 2,941 |
| Profit before tax | 40,666 | 200,094 | 448,265 | 1,863,277 | 385,099 |
| Tax | 13,804 | 50,791 | 91,145 | 396,071 | 82,190 |
| Net profit | 26,862 | 149,303 | 357,120 | 1,467,206 | 302,909 |
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Balance sheet
DKK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 3,029,259 | 3,294,865 | 4,352,903 | 14,938,306 | 7,496,236 |
| Equity | 2,060,670 | 2,185,576 | 2,795,018 | 5,599,884 | 634,498 |
| Long-term debt | 44,461 | 84 | 676 | 3,928 | 19,528 |
| Short-term debt | 923,411 | 1,100,421 | 1,555,288 | 9,327,111 | 6,839,413 |
| Total debt | 967,872 | 1,100,505 | 1,555,964 | 9,331,039 | 6,861,738 |
Financial ratios
5-year trendEBITDA margin
1.1 %
20212025
Equity ratio
68.0 %
StrongAmong the 40% highest rated companies in the industry
20212025
Return on equity
1.3 %
AverageAround the average of companies in the same industry
20212025
Net profit margin
1.1 %
AverageAround the average of companies in the same industry
20212025
Asset turnover
0.80×
Very strongAmong the 20% highest rated companies in the industry
20212025
Debt / equity
0.47×
AverageAround the average of companies in the same industry
20212025
Sector performance
28 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginWeak
Among the 30% lowest rated companies in the industry
The gross result as a share of revenue — how much of the revenue is left after variable costs to cover the company's fixed costs.
Operating marginWeak
Among the 40% lowest rated companies in the industry
EBIT as a share of revenue — the share of revenue remaining as earnings once all operating costs are covered. A key measure of earning power.
Net profit marginAverage
Around the average of companies in the same industry
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Return on equity (ROE)Average
Around the average of companies in the same industry
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on assets (ROA)Strong
Among the 40% highest rated companies in the industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Return on net assets (RONA)Average
Around the average of companies in the same industry
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Basic earning power (BEP)Strong
Among the 40% highest rated companies in the industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioAverage
Around the average of companies in the same industry
Shows how strongly fixed costs weigh on the gross result — a high ratio means fixed costs take only a small bite out of the earnings from basic operations.
Liquidity
Current ratioStrong
Among the 30% highest rated companies in the industry
Current assets relative to short-term debt — the ability to settle short-term obligations with current assets alone. Around 150% is considered satisfactory from a credit perspective.
Quick ratioStrong
Among the 40% highest rated companies in the industry
Current assets excluding inventory relative to short-term debt — whether the most liquid assets alone can cover the short-term obligations. A value of 1 or above signals a healthy liquidity position.
Cash ratioAverage
Around the average of companies in the same industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityWeak
Among the 30% lowest rated companies in the industry
Current assets relative to equity — an indicator of the balance-sheet structure and of the company's short- and long-term financing. The healthy level is highly industry-dependent.
Fixed assets to long-term capitalStrong
Among the 30% highest rated companies in the industry
Fixed assets relative to long-term capital (equity plus long-term liabilities). Below 100% means the long-term capital finances more than just the fixed assets — a healthier liquidity position.
Cash conversion ratioAverage
Around the average of companies in the same industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioStrong
Among the 40% highest rated companies in the industry
Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.
Debt ratioStrong
Among the 40% highest rated companies in the industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Debt to equityAverage
Around the average of companies in the same industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityAverage
Around the average of companies in the same industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtStrong
Among the 40% highest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtAverage
Around the average of companies in the same industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageStrong
Among the 40% highest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtStrong
Among the 40% highest rated companies in the industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginStrong
Among the 40% highest rated companies in the industry
The return on assets minus the interest rate on debt. Positive means the company benefits from operating with debt; negative means the debt makes it worse off.
Efficiency & development
Asset turnoverVery strong
Among the 20% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverStrong
Among the 30% highest rated companies in the industry
Revenue relative to inventory — how many times a year the inventory is sold and replaced. A low value can indicate weak sales or excess inventory.
Equity to contributed capitalStrong
Among the 40% highest rated companies in the industry
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
One-year change in equityWeak
Among the 40% lowest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtStrong
Among the 30% highest rated companies in the industry
The size of this year's increase or decrease in the company's debt.
Annual reports & filings
- Annual report 2025Filed via CVR / Virk · Period 2025-01-01 – 2025-12-31
- Annual report 2024Filed via CVR / Virk · Period 2024-01-01 – 2024-12-31
- Annual report 2023Filed via CVR / Virk · Period 2023-01-01 – 2023-12-31
- Annual report 2022Filed via CVR / Virk · Period 2022-01-01 – 2022-12-31
- Annual report 2021Filed via CVR / Virk · Period 2021-01-01 – 2021-12-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (2) | ||
RH Management | Management | 2025 |
JM Chief Executive Officer | Chief Executive Officer | 2025 |
Former (8)
TN Management | Management | 2010 – 2014 |
LR Management | Management | 2019 – 2021 |
KF Management | Management | 2011 – 2014 |
HL Chief Executive Officer | Chief Executive Officer | 2016 – 2019 |
OM Management | Management | 2021 – 2021 |
HØ Chief Executive Officer | Chief Executive Officer | 2019 – 2025 |
DE Management | Management | 2015 – 2015 |
DE Management | Management | 2015 – 2016 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (6) | ||
TF Board of Directors | Board of Directors | 2020 |
RK Board of Directors | Board of Directors | 2022 |
KT Board of Directors | Board of Directors | 2026 |
OK Board of Directors | Board of Directors | 2021 |
TB Board of Directors | Board of Directors | 2023 |
HØ Chairman | Chairman | 2025 |
Former (19)
JH Board of Directors | Board of Directors | 2011 – 2013 |
KH Board of Directors | Board of Directors | 2010 – 2013 |
BV Deputy Chairman | Deputy Chairman | 2016 – 2019 |
HH Chairman | Chairman | 2020 – 2025 |
PD Board of Directors | Board of Directors | 2013 – 2013 |
MS Board of Directors | Board of Directors | 2019 – 2025 |
JP Board of Directors | Board of Directors | 2017 – 2017 |
SH Board of Directors | Board of Directors | 2019 – 2020 |
SV Deputy Chairman | Deputy Chairman | 2013 – 2015 |
JO Board of Directors | Board of Directors | 2019 – 2021 |
HL Deputy Chairman | Deputy Chairman | 2015 – 2016 |
KØ Board of Directors | Board of Directors | 2004 – 2010 |
JS Board of Directors | Board of Directors | 2014 – 2023 |
TM Chairman | Chairman | 2019 – 2020 |
DS Board of Directors | Board of Directors | 2013 – 2014 |
AB Board of Directors | Board of Directors | 2016 – 2019 |
PL Chairman | Chairman | 2014 – 2019 |
KE Board of Directors | Board of Directors | 2021 – 2022 |
FS Board of Directors | Board of Directors | 2020 – 2022 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
Equinor Midstream & Trading AS | Company | 100% | 100% | 2025 |
Equinor Refining Norway AS | Company | 100% | 100% | 2019 |
| Company | 15–19.99% | 15–19.99% | 2015 | |
| Individual | 90–99.99% | 90% | 2014 | |
| Company | 50–66.65% | 50–66.65% | 2015 | |
| Company | 20–24.99% | 20–24.99% | 2015 |
Beneficial ownership (UBO) data access is restricted in Denmark as of September 2025 per the EU 6th AML Directive. Learn more.
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Company hierarchy
Equinor Midstream & Trading AS100%Equinor Refining Norway AS100%
Danske Commodities A/S (this company)Board network connections
Board members of Danske Commodities A/S also hold positions in 364 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Knud Erik Andersen | Board of Directors | 232 companiesMany roles |
| Lars Raagaard Troen Sørensen | Management | 47 companiesMany roles |
| Henrik Lind | Chief Executive Officer | 30 companiesMany roles |
| Torben Nordal Clausen | Management | 18 companiesMany roles |
| Kasper Herrestrup | Board of Directors | 8 companiesMany roles |
| Helle Østegaard Kristiansen | Chief Executive Officer | 6 companiesMany roles |
| Anne Broeng | Board of Directors | 6 companiesMany roles |
| Jakob Møller Sørensen | Chief Executive Officer | 3 companies |
| Trine Borum Bojsen | Board of Directors | 3 companies |
| Jan Heyn Stubberup | Board of Directors | 2 companies |
| Per Damborg Skovhus | Board of Directors | 2 companies |
| Jørn Peter Jensen | Board of Directors | 2 companies |
| Dion Sørensen | Board of Directors | 2 companies |
| Kim Frode Bendixen | Management | 1 company |
| Søren Vestergaard-Poulsen | Deputy Chairman | 1 company |
| Peter Lorens Ravn | Chairman | 1 company |
Frequently asked questions
What is the CVR number of Danske Commodities A/S?
Danske Commodities A/S is registered with CVR / Virk under CVR 28113951.
What is the revenue of Danske Commodities A/S?
Danske Commodities A/S reported revenue of DKK 2.4bn in 2025.
How many employees does Danske Commodities A/S have?
Danske Commodities A/S employs 614 people as of the latest annual report.
Who is the CEO of Danske Commodities A/S?
Jakob Møller Sørensen is the CEO of Danske Commodities A/S, in role since 2025.
Who is the chairman of Danske Commodities A/S?
Helle Østegaard Kristiansen chairs the board of Danske Commodities A/S, in role since 2025.
Where is Danske Commodities A/S headquartered?
Danske Commodities A/S's registered address is Kalkværksvej 16, 13..