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Thu 20 Jun 2019, 13:58 GMT

Bunker Holding sees annual profit almost double


Earnings before tax skyrockets from $40m to $77.3m.

Keld Demant, CEO of Bunker Holding.
Image: Bunker Holding A/S
Bunker Holding reports that profit before tax increased by $37.3m, or 93.3 percent, to $77.3m for the fiscal year 2018-19.

The Danish group also posted a year-on-year jump in revenue of $2.491bn, or 30.6 percent, to $10.644bn.

Equity, meanwhile, increased by $64m, or 25.2 percent, to $318m.

Financial results (in $m)

2018-19 2017-18 2016-17
Profit before tax 77.3 40 35
Revenue 10,644 8,153 6,459
Equity 318 254 253

Commenting on the results, Keld Demant, CEO of Bunker Holding Group, remarked: "I am very pleased with this year's strong financial performance which is a result of our solid business model and focused strategy execution - achieved through the unique skills and hard work of our dedicated employees."

Demant added: "The solid financial position and our new industry-leading credit facility give us an exceptional position and, combined with the trust and support we experience from the market, we are prepared for taking on the 2020 challenge."

Looking ahead, Bunker Holding stated: "The company will continue its investment in innovative solutions and experts to facilitate the creation of more value, not only for the Group's customers, but for the entire value chain."

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