Danske Nitor Energy is the latest in a series of energy trading companies to have emerged from 2022 with significant profits. More precisely, the company earned DKK 2.9 billion before tax. This is reported by the business media Finans on Friday, after the relatively new company published its annual accounts. This shows that Nitor Energy's profit before tax in 2022 was 33 times greater than in 2021.
- The result is significantly higher than expected due to the exceptional conditions on the energy markets in 2022, Nitor Energy writes in its annual accounts.
The energy market functions like the market for shares and other goods, when electricity and gas are bought and sold across national borders. This happens on energy exchanges, where traders try to predict developments and thus make money from fluctuations in prices. Last year there were very large fluctuations.
Large bonuses for employees
The CEO of Nitor Energy, Simon Birch Hansen, explains to Finans the result with the conditions in the market, and that the company is new and has just started.
- This is our first result where we are up to speed. Last year was an interesting and challenging year in the energy markets with great uncertainty, he tells the business media.
The company was founded in 2017, but the first full year of energy trading was 2021. Nitor Energy, which is headquartered in Aarhus, increased the average number of employees from 19 to 31 from 2021 to 2022. The year ended with 47 employees. The accounts show that approximately 363 million kroner in wages were paid to employees in 2022.
- This year's significant increase in profits has triggered a large bonus, writes Nitor Energy in its accounts.
- The bonus payments are the reason why the company's average wage costs have increased significantly.
Bonus and wages in the industry have been the subject of great political discussion after last year's developments. In particular, a case involving three energy traders who received bonuses in the three-digit million range in Energi Danmark has received a lot of attention after Finans wrote about the story.
/ritzau/
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