UPDATED: Another energy trading company has made billions on the turbulent energy market during 2022. The Aarhus-based company InCommodities earned around 7.9 billion kroner after tax last year. This is shown in InCommodities' annual accounts for 2022.
This corresponds to almost ten times as much as the year before, when the company had a profit of just over 800 million kroner. During the year, the company made more than twice as many trades as the year before. At the same time, it also earned more on individual trades.
- There is no doubt that our earnings per trade were higher, and also somewhat higher in 2022, than we have seen before, says Jesper Severin Johanson, CEO and co-founder of InCommodities, to Børsen.
- It just doesn't change the fact that we are still a high-volume, low-margin business, even though we had higher margins last year.
In the accounts, the company's management itself describes 2022 as a year that turned out to be a so-called centennial event.
InCommodities is mainly owned by three of the original founders. These are Jeppe Bülow Højgaard, Jesper Severin Johanson and Christian Bach, who each own 20-25 percent of the company according to the CVR register. The fourth co-founder, Emil Kildegaard Gerhardt, owns between 10 and 15 percent of the company.
In addition, the company is partly owned by investor Jesper Aggerholm and a fund that, according to Finans, is controlled by Goldman Sachs.
Double-digit million in average
In 2022, InCommodities had an average of 118 employees. The company's personnel costs amounted to just over 13 million kroner on average per employee, writes Børsen.
- We have a tradition of sharing the journey with our employees at InCommodities. We have had that ever since we founded the company, and we continue to do so, the CEO tells the media.
Of all InCommodities' transactions in 2022, 97 percent were made in Europe outside Denmark. InCommodities is just one of several energy trading companies that have delivered record financial results for 2022.
The two largest, Energi Danmark and Danske Commodities, earned 8.8 and 10.9 billion kroner respectively after tax last year.
The high earnings come as a result of large fluctuations in the energy market. This means that the companies that make money by trading electricity and gas across borders have in some cases been able to reap large gains.
/ritzau/
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