We mind energy

During 2024, a slowing energy transition, a more uncertain geopolitical landscape, and financial turmoil impacted the European energy markets.

Our unique and robust business model and strong financial results are a testament to how we are well-positioned to support our customers in navigating increasingly complex energy markets.

Get a sneak peek of the Execute Review and results below and download our Annual Report for the full version.

Summary

Executive Review of 2024

Our new strategy, Switch28, is guided by a clear objective: to create value for our customers, owners, employees, and society. With Switch28, we will focus further on our core business, leveraging our legacy and competence to strengthen the important role we have always played in the energy markets. Get more info about the strategy and goals in the Annual Report.
Our customer business performed well in 2024. It is a healthy business with large volumes, small margins and a significant working capital requirement. We are very satisfied to have profitably grown our customer base, particularly in our markets outside Denmark. Simplicity and transparency are key values for us, and in an increasingly complex energy market, our task is to make energy simple for our customers.
Our market trading business had a very strong year; we achieved our third-best result ever, with over 98% of earnings generated outside the Nordics. While our market trading and customer businesses operate separately and transparently, they benefit from strong platform and competence synergies. Our deep trading expertise benefits energy producers and consumers alike, while the diversification of earnings strengthens our overall business.
Central to our transformation and our new direction is a new company identity and brand. It is one of many carefully considered steps to successfully develop the company. Defining a new identity is not solely a branding exercise, far from it. To us, brand, culture, leadership, and how we do business are deeply interconnected. Mind Energy expresses our position as a truly pan-Nordic energy trader. It reflects who we are and who we want to be – it is a promise to our customers, to society, and to our people.
Image of Louise Hahn, CEO in Mind Energy

Download the 2024 Annual Report

Louise Hahn, CEO

"The financial result confirms that we are on track to deliver on the new strategy and on our mission: to work for efficient, resilient and sustainable energy markets – for customers and for society.”

Strong results despite an uncertain market

We delivered strong financial results in 2024 despite uncertain and complex energy markets. The profit before tax landed on DKK 376 m, exceeding expectations for the year of DKK 250-300m.

The result is at the highest level in more than a decade, excluding the turbulent year in 2022. The result was driven by strong performance in both our Market Trading and Customer Business, supported by customer growth and strong trading capabilities.

Financial highlights for 2024
Image of Dorthe Rømer Frost, SVP Brand, People and Sustainability in Mind Energy
Dorthe Rømer Frost, SVP, Brand, People & Sustainability

"Everything we have achieved in 2024 ultimately rests on our exceptional people. Our people’s competencies, intelligence and teamwork are the true driving force that will allow us to deliver on our strategy and our mission."

We mind our people and their development

We provide an inclusive learning environment for professional and personal growth. We are mindful that our culture emphasizes innovation, personal growth and freedom, and collective success, guided by low hierarchy and inspired leadership.

The future of our business and our contribution to an efficient, green and resilient energy system depends on our ability to continue to attract, develop, and motivate the best people. We grew from 262 to 312 employees during 2024 and investing in them continues to be a key priority.

People highlights for 2024
Image of Andreas Wenshøj Gaur, Head of Sustainability in Mind Energy
Andreas Wenshøj Gaur - Head of Sustainability

"Sustainability is not a separate initiative but embedded in how we do business every day. We continuously seek to conduct our business in a manner that is both commercially viable and contributes to a more sustainable energy market that benefits everyone."

Making sustainable energy work for everyone

We work for an efficient and reliable energy market that promotes social and societal benefits, while actively working to accelerate a sustainable transition of the energy sector. A significant focus of 2024 has been to embed our sustainability ambitions as an integral part of our new Switch28 corporate strategy.

Check out the interview with our Head of Sustainability in the Annual Report to understand our approach to sustainability – from our mission to help accelerate the energy transition to operating our business in a sustainable manner.

Sustainability highlights for 2024

Download the 2024 Annual Report

Want to dive into annual reports from previous years? Find them in the archive.

Go to archive