Mind Energy delivers solid results for the year

Mind Energy (formerly Energi Danmark) publishes its 2024 financial statements today. With a profit of DKK 376 million before tax, the 2024 financial statements constitute the company's second best results ever; only outperformed by the turbulent financial year 2022, which was heavily influenced by the international energy crisis.

"The financial statements we're presenting today show good and robust results. Profit before tax of DKK 376 million exceeds our expected profit, which was between DKK 250 million and DKK 300 million. It is satisfactory that we're attracting new customers and that our positive results are supported by a healthy development in both our customer-oriented business, where we help producers get their energy on the market and Nordic companies buy energy, and in the part of our business where we engage in market trading using our own capital and at our own risk," says Louise Hahn, CEO of Mind Energy.

In 2024, revenue was approximately DKK 76 billion, while profit after tax totalled about DKK 292 million.

A steady hand in troubled times

Although the energy market storm may have calmed down since the energy crisis hit with a vengeance in 2022, the energy sector is still facing a changed reality. One example is the energy price volatility, which has almost quadrupled compared to before 2021. This leads to greater uncertainty in the market.

"The 2024 results confirm our ability to steer both our customers and our own business through unstable times of considerable market volatility and uncertainty. In combination with our strong financial position, this proves that we are well prepared for the challenges and opportunities in the market in the coming years,"

Louise Hahn says.

The turbulent international energy markets and the uncertain geopolitical conditions have increased companies' need for advice and consulting in general, and especially companies with high energy consumption. Therefore, being able to offer customers a transparent, efficient and robust energy strategy is a significant part of the business strategy launched by Mind Energy in 2024.

New strategy, new identity

Last year, Mind Energy launched a new pan-Nordic business strategy to prepare the company for the new reality after the international energy crisis. A strategy which, at the beginning of this month, resulted in the consolidation of the group's four companies in Denmark, Norway, Sweden and Finland under the new joint name; Mind Energy.

"Based on our strategy 'Switch 2028' from 2024, we've introduced a number of changes. Both in the way we are organised and especially in the way we operate and work across the group. We have been working on closer integration between the four countries, which in early April culminated in a new common identity in Mind Energy," says Louise Hahn.

As a group, Mind Energy is an international energy company with significant energy trading activities throughout Europe, the UK, the Balkans and Australia.

"Across the four Nordic countries, we are the largest independent energy supplier in the Nordics. We're bringing all these skills, data and experience closer together to provide our customers with valuable advice and even sharper execution in increasingly dynamic energy markets. That's what we want to reflect in one common identity and one common name,"

says Louise Hahn.

Louise Hahn has been with Mind Energy since August 2023, when she joined as CEO.