It has proven to be a very lucrative business to trade energy in times of crisis. The energy group Andel - like many other energy groups - is proof of this. On Friday, Andel can present a profit of 8.3 billion. DKK for 2022. That is 28 times as much as the year before.
The profit is a direct result of the subsidiary Energi Danmark, which in isolation has come out with a profit before tax of 11.3 billion. DKK, it says. Energi Danmark does not sell energy to private customers, but has instead earned its money by being a kind of middleman in the energy market outside Denmark's borders.
Andel makes it clear that the money has not been earned on the group's private customers. At the subsidiary Andel Energi, which has 1.2 million energy customers, it ended up with an operating loss of 324 million. kr.
- At the turn of the year, we embarked on a year that was far more dramatic and turbulent than anyone had imagined just months before, says Andel's CEO, Jesper Hjulmand, in the financial statements.
- There was a comprehensive energy crisis, where we as an industry and as Denmark's leading energy group were placed right in the middle of the eye of the hurricane.
An extraordinary year has also led to an extraordinarily high turnover. In 2022, Andel as a group had a turnover of 369.1 billion. kr. In comparison, turnover was 56.3 billion. the year before.
Employees with high bonuses fired
In 2023, the energy trading company Energi Danmark - and other similar companies - have been the focus of great interest regarding the company's bonus agreements. Three employees who have since been fired had entered into bonus agreements without a ceiling behind the back of their board of directors.
However, in Friday's financial statements, Andel makes it clear that it is the group's clear policy that such bonus agreements must have a ceiling.
- Three employees from Energi Danmark have had a share and bonus agreement without a ceiling. It was entered into without the board of directors' knowledge and under circumstances that make it invalid.
The employees were suspended at the end of March this year.
/ritzau/
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