The controversial biogas group BioCirc has lost 200 million. DKK in 2024. This is shown by the company's accounts for the fourth quarter. The year before, the company's deficit was 11 million DKK, and this is a significantly larger deficit in 2024. Since the new year, internal disputes between the management, the board of directors and the owners of BioCirc have unfolded in full public view.
On the one hand, five out of a total of seven board members have stood. Just before the new year, they announced together that CEO Bertel Maigaard had been fired. They wanted to remove him because the parties had different views on management. Børsen and Finans have previously described how Maigaard has been accused of having a tough management style.
The following day, BioCirc wrote on its website that Bertel Maigaard had not been fired. In an email to Børsen, the five board members then confirmed that Maigaard had been fired. Maigaard again opposed the firing, and it was announced that the dissenting board members would be removed.
Among the five board members were chairman Michael Haaning and the two members of the food group DLG. All three were dismissed in advance and resigned shortly after the New Year. In a press release on January 6, Maigaard commented on the writings about his management style.
- I must admit that my ambitions and passion have contributed to frustration among some employees at BioCirc. Of course, we need to resolve this so that going to work at BioCirc is not only professionally interesting, but also something you look forward to on Monday morning, it was said.
In 2024, BioCirc's revenue has increased to almost 1.5 billion. DKK from 1.15 billion. DKK the year before. In the financial statements, management calls the financial results in the fourth quarter "mixed". It is mentioned that an "unexpected write-down" due to a "terminated trading partner" has affected the result in the fourth quarter. In the fourth quarter, the company lost 63 million. DKK. BioCirc describes itself as one of the world's largest producers of biogas. The company was founded in 2021 and has, among other things, been called a growth comet in the area.
In 2024, the group secured support of almost 900 million. DKK from the Danish Energy Agency. The money is scheduled to be paid out continuously between 2026 and 2032.
jel /ritzau/
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