Q8 Denmark, which has 241 gas stations and 1,700 employees, is to be sold. The chain, which is owned by the energy group OKQ8 Scandinavia, wrote this in a press release on Thursday.
The group also has a Swedish business unit, which will be a focus area going forward. The desire to sell off the Danish gas stations is due to the energy market being transformed, the explanation is. According to the owner, this requires that investments be focused.
Helle Dahlgren Skov, head of Q8 Denmark, says in the announcement that daily operations in Denmark will continue unchanged.
- Our focus is on developing and running the company as before and ensuring stability and security for both customers and employees throughout the process.
She explains to the media outlet Finans that they are not negotiating with anyone yet. The owner group does not disclose the price for the Danish business.
Turnover in billions
In its latest annual accounts, which cover the period from March 2024 to the end of February the following year, the Danish chain had a turnover of just over 6.2 billion kroner. This was a decrease of 800 million kroner from the previous year. The Danish boss denies that it was a distress sale.
- Q8 Denmark is a profitable business with stable results for many years. We have a strong and well-run company. Therefore, the timing is right if the right owner is found at the right price, she tells the media.
In its most recent financial year, the chain also came out with a profit after tax of just over 125 million kroner. The year before, it was approximately 206 million kroner.
Q8 Denmark is both a fuel company and a retail chain. In 2012, it merged with OKQ8 in Sweden. Together they became the OKQ8 Scandinavia group. The group is owned 50 percent by OK ekonomisk förening and 50 percent by the company Kuwait Petroleum International.
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