2024 was a challenging year for Crossbridge Energy A/S with a loss of DKK 274.1 million. The result is due, among other things, to lower margins on the world market, increased competition and an extensive maintenance stop, which also included a fire at the refinery in Fredericia. The company states this in a statement.
- It has been a year with extremely low margins and increased competition. The world market situation has had a huge impact on us, and we have had to act as a responsible company and adapt, says Finn Schousboe, CEO of Crossbridge Energy.
The adjustments meant, among other things, that 30 employees were laid off during 2024, and a number of cost-saving measures were implemented. According to the company, this is necessary in order to navigate a future market characterized by low margins and new national taxes. Crossbridge Energy believes that the Danish taxes distort competition, as foreign products can be imported without these burdens.
- The national tax pressure that is currently being introduced does not benefit our competitiveness. Solutions must be found to ensure the continued Danish security of supply, because it unnecessarily distorts competition, as products can be imported without these taxes. So we are running a marathon against the world elite, but we have to do it wearing a lead vest, says Finn Schousboe.
During the year, Crossbridge Energy invested over 490 million DKK in plants and equipment, including energy-saving solutions and noise reduction. The maintenance stoppage in Fredericia involved over 600 external workers and resulted in oil intake falling to 2.7 million tonnes – against 3 million. tons the year before.
The company has also continued to work on implementing ESG reporting in line with the EU's upcoming requirements, even though the rules have been changed. Crossbridge Energy produces over 35 percent of Denmark's liquid fuel and is the country's only producer of jet fuel.
amp
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
