For the energy group EWII, 2024 was a year of investments in everything from battery plants to foreign energy markets. The result was a profit of 219 million. DKK – and an expectation of a billion-dollar profit in 2025. EWII writes in a press release.
– 2024 was a whirlwind year for EWII. We set off with a new group strategy that paved the way for several large investments and green ambitions – among other things, we have clearly announced that we want to remove the burning of wood from the energy system. We have not yet been able to reap the fruits of all the investments, but they are crucial for EWII to be well equipped for the coming years, says CEO of EWII Lars Bonderup Bjørn.
The group invested, among other things, in battery storage, where the largest project is a plant on Bornholm with a capacity of 30 megawatts and 43 megawatt-hours. In addition, smaller plants are on the way in four other cities.
– It costs to be the first to take the lead, and batteries have also been new territory for fire authorities, grid companies, Energinet – well, actually everyone. The area is complex, and the authorities are still figuring out how to handle it. A process that has unfortunately taken much longer than expected, and that is why we will not receive income from our batteries until 2025, says Lars Bonderup Bjørn.
2024 also saw a historic sale of the fiber network in the Triangle area to Norlys. The transaction for DKK 2.85 billion has not yet been approved by the competition authorities and is therefore not included in the annual result.
– For 20 years, EWII has worked to establish and roll out the fiber network to all addresses in the Triangle area. We are now in the middle of selling the completed fiber network. The next step is the approval of the competition authorities, which we are still waiting for. The significant costs related to the sale affect the accounts for 2024, while we still have the income to our credit, explains Lars Bonderup Bjørn.
At the same time, EWII took its first steps into the international market. A German breakthrough was marked by a software agreement with Stadtwerke Bonn, and the group's energy trading entered three new markets: Germany, England and the Netherlands.
- We have expanded, established and invested massively in the past year. Batteries, fiber sales and digitalization. This leaves costly footprints here and now, but is also a clear expression of EWII's ambitions for a realistic green future. Investments that have a positive impact in the current year. Our expectation for 2025 is a result of more than 1 billion. kr. - says Lars Bonderup Bjørn.
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