In 2024, the Verdo Group delivered a deficit of 163 million DKK after tax – the worst result in the company's history. At the same time, debt has grown significantly, which is putting pressure on the Group's ability to invest in future green solutions. Therefore, a total of around 70 positions will be cut across Verdo Energy Systems, Verdo Teknik and Verdo Trading.
The extensive organizational changes in the various commercial business areas come after several years of unsatisfactory financial results. Verdo has previously launched initiatives to ensure profitability, but this has not been enough, which is why layoffs have now been made. The measure is intended to reduce costs by around 50 million DKK. Verdo states this.
- We can no longer justify having business areas that do not contribute positively to our overall value creation. The decisions we are making now are necessary to ensure a stronger and financially sustainable Verdo, which can continue to deliver value to customers, members and local communities and play an active role in the green transition – as well as being an attractive workplace for current and future employees. Even if it means that we will have to cut around 70 positions and today have unfortunately had to say goodbye to a number of talented employees, says Jesper Vinter Barslund, CEO of Verdo.
In concrete terms, the changes mean that Verdo Energy Systems will no longer enter into large turnkey projects in the future. The lower future business volume has resulted in the closure of 29 positions, Verdo Teknik is being reduced by 21 positions. Verdo Trading is being gradually wound down through divestment and closure, which affects 20 positions. The changes will have no consequences for Verdo's utility customers within heating, water and electricity.
At the same time as the many layoffs, Kenneth R. H. Jeppesen is resigning from his position as CFO at Verdo to seek new challenges.
Verdo's board of directors and group management are in the process of setting a clear direction for the company and will soon begin a strategy process.
- We must be a less complex organization with stronger business areas, all of which contribute positively to the bottom line. This is an essential prerequisite for us to continue to deliver high security of supply and invest in the green transition within Verdo's business areas. With the organizational changes implemented, we are better equipped to deliver on our strategic goals and continue as a central player in the green transition, says Jesper Vinter Barslund.
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