Dan-Bunkering posts profit rise in 2023-24

Tue 9 Jul 2024, 12:14 GMT | Updated: Wed 10 Jul 2024, 14:22 GMT

Dan-Bunkering posts profit rise in 2023-24

EBT climbs to $46.8m, whilst revenue dips from previous year's all-time high.

Claus Bulch Klausen, CEO of Dan-Bunkering.

Claus Bulch Klausen, CEO, said he was "proud" of the group's performance, noting that "geopolitical tensions and shifting demands across shipping segments" were key issues in 2023-24. Image credit: Dan-Bunkering

Dan-Bunkering has posted a profit before tax of $46.8m for the 2023-24 fiscal year, up 1% from $46.3m in 2022-23.

Revenue over the same period fell by $289.9m, or 7.1%, from the firm's all-time high of $4.06bn to $3.77bn.

Dan-Bunkering began presenting its financial performance in a combined group format last year, with results dating back to 2018-19. Pre-tax profit for 2023-24 is the best over this six-year period, whilst revenue is the second highest.

Chart

Chart: Bunker Index. Data credit: Dan-Bunkering

Annual profit before tax with YoY changes for Dan-Bunkering, 2018/19 - 2023/24

Profit before tax in $m.

Year	Profit before tax ($m)	Change ($m)	Change (%)
2018-19	24.334
2019-20	24.627	0.293	1.2
2020-21	18.304	-6.323	-25.7
2021-22	19.586	1.282	7.0
2022-23	46.308	26.722	136.4
2023-24	46.790	0.482	1.0

Table: Bunker Index. Data credit: Dan-Bunkering

Chart

Chart: Bunker Index. Data credit: Dan-Bunkering

Annual revenue with YoY changes for Dan-Bunkering, 2018/19 - 2023/24

Revenue in $m.

Year	Revenue ($m)	Change ($m)	Change (%)
2018-19	2503.755
2019-20	2373.982	-129.773	-5.2
2020-21	2000.608	-373.374	-15.7
2021-22	3280.563	1279.955	64.0
2022-23	4059.604	779.041	23.7
2023-24	3769.732	-289.872	-7.1

Table: Bunker Index. Data credit: Dan-Bunkering

"This year's result Dan-Bunkering continues to build on strong financial performances of the past fiscal year," Dan-Bunkering said.

Claus Bulch Klausen, CEO of Dan-Bunkering, remarked: "In a year characterised by geopolitical tensions and shifting demands across shipping segments, we are immensely proud of the results we have achieved. They are a testament to the great work from the teams around the world in navigating these challenges.

"The past financial year saw an increased focus on the transition towards decarbonisation. We have put increased effort into assisting our clients and suppliers in adapting to the recently implemented environmental regulations, such as the EU ETS scheme, and demands within for instance the alternative fuels space. We are therefore investing time and resources to assist our partners with finding the best way forward."

Dan-Bunkering EU ETS


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Dan-Bunkering posts profit rise in 2023-24

EBT climbs to $46.8m, whilst revenue dips from previous year's all-time high.

Fuels & Propulsion

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