In an otherwise quite unusual year, Danske Commodities ended at more or less the same level as in 2019 with an operating profit of just over DKK 330 million, with growth of one percent. 2020, however, saw an 18 percent increase in gross revenue, and Danske Commodities increased its trading volume by 94 percent to 2,710 TWh.
- Danske Commodities defied difficult trading conditions and kept the pace high in 2020 with solid earnings on par with the previous year. We reacted quickly when the pandemic hit and set up trading stations at our traders' homes to protect our business activities, says Danske Commodities' CEO Helle Østergaard Kristiansen.
It is especially the many national lockdowns that have created an unpredictable market with major changes in consumption patterns that forecasts could not foresee.
However, Danske Commodities can be pleased to have continued to increase the scope of business with its owner, Equinor, including a large PPA agreement.
- We were assigned a credit rating of Baa1 by Moody's Investor Service, which enabled us to undertake additional commercial activities. As part of our strategic ambition to expand our business with additional revenue streams, we entered into a 15-year PPA with the partly Equinor-owned offshore wind farm Dogger Bank in the UK, and we were given responsibility for the physical electricity supply to Equinor's onshore and offshore facilities in Norway, says Helle Østergaard Kristiansen.
In addition to being able to look back on a difficult year with many challenges, which Danske Commodities has ended up safely through, CEO Helle Østergaard Kristiansen can enjoy a bit of personal honor.
In October, Helle Østergaard Kristiansen was named one of the most influential women in the world by the media Fortune. It was not the first time that Helle Østergaard Kristiansen was on the prestigious list, where in 2020 she moved up to number 27.
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