BWSC Case stories

BWSC Annual Report 2023

25 Mar 2024

In our just released 2023 financial report, we report a revenue of 1,3 billion DKK alongside a net profit of 66 million DKK. The substantial portion of our revenue is derived from renewable energy businesses, currently standing at 76%, up from 58% in 2022. This emphasizes our success in promoting sustainable energy solutions. Our commitment to sustainability has already yielded tangible results, as demonstrated by the successful delivery of two green hydrogen projects in 2023.

During the year we have been dedicated to enhancing the performance of the power plants we operate and maintain (O&M sites) through substantial investments. As a result, we have achieved the highest power production availability ever recorded across the power plants we operate and maintain. Investments herein have impacted negatively on our result for the year, while a strategic sale of shares has had a positive impact on the result.

While our cash flow from operations has shown improvement compared to the previous year, it remained negative in 2023. Efforts are continuing to improve this aspect further as part of the ongoing turnaround of BWSC.

Furthermore, our increased customer focus has led to significant improvements, with our Service order intake experiencing a remarkable 48% increase compared to 2022. This growth is attributed to both a higher volume of orders and the expansion of our customer base, reaffirming our dedication to operating as a dedicated Service provider catering to a diverse clientele rather than relying solely on large orders.

Find all BWSC Annual Reports here.

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