Hofor increased investments and lifted results in 2025

Hofor increased investments to 3.4 billion DKK in 2025, which is around 350 million DKK more than the previous year, while the profit before tax increased to DKK 1,092 million from DKK 622 million the previous year. This is stated by the utility company in a press release.

Revenue increased to DKK 8.2 billion from DKK 7.6 billion the previous year, driven by increased energy production and higher revenues from, among other things, district heating and drinking water. At the same time, the company expects the investment level to continue to increase and exceed DKK 4 billion in 2026.

- We are in the midst of a historic transformation of our supplies. The investments are necessary to ensure a robust supply and to continue to maintain and develop the infrastructure that is absolutely central to the capital area. We do this with a continuous focus on energy-efficient solutions for our customers, says Mads Grønvall, Director of Finance and Customers at Hofor.

The investments are related to, among other things, the electrification of district heating with heat pumps and electric boilers, climate protection such as cloudburst tunnels, as well as the renovation of waterworks and the protection of drinking water. In addition, the investments also include the expansion of wind turbine and solar farms.

- We are investing to be able to supply heat, even when the energy system is under pressure. More heat pumps, electric boilers and heat storage give us both robustness, flexibility and the opportunity to reduce the use of biomass, says Mads Grønvall.

Hofor also points out that operations are affected by a volatile electricity market, where fluctuations in electricity prices affect the value of the company's electricity production from, among others, the Amager Power Plant and wind and solar farms. At the same time, global unrest is affecting the energy markets and creating uncertainty about prices and production.

At the same time, Hofor highlights a significant uncertainty in the accounts linked to a dispute with the Water Sector Authority over a right to collect DKK 1.5 billion. The amount concerns recognised receivables from consumers in the company's water, treatment and wastewater activities. The Authority has rejected the right to collect the amount, and the case has been brought before the Competition Appeals Board. If the Board upholds the Authority's claim, it may mean that Hofor will have to repay the amount.

For 2026, Hofor expects revenue of around DKK 7.5 billion and a profit before tax of around DKK 400 million. DKK.