Semco Maritime has announced a significant increase in profit after tax, reaching Dkr209 million (€28 million) compared to Dkr133 million in the previous year. The company attributes this growth to its renewables business, which saw a remarkable 104% increase in revenue to Dkr2406 million, up from Dkr1179 million in 2022.
The surge in renewables revenue was fueled by strong demand and activity within offshore substations and services for offshore wind projects. Semco Maritime's acquisition of Wind Multiplikator Group in the renewables sector also played a significant role, contributing Dkr291 million in revenue following the completion of the transaction in May.
The company's order inflow in renewables more than quadrupled to Dkr4505 million, compared to Dkr778 million in 2022. This increase was driven by the signing of several offshore substation contracts and multi-year contracts for offshore project services.
CEO Steen Brodbaek highlighted the company's Sustainable Growth strategy, noting their focus on leveraging expertise and experience from the offshore sector to capitalize on energy market opportunities. He emphasized the strategic execution in 2023, including organic growth and the acquisition and integration of Wind Multiplikator Group.
Brodbaek expressed confidence in Semco Maritime's future, stating, “We see a clear path ahead of us and continue to leverage our competitive advantages in the Renewables and Conventional energy segments.” He noted that these efforts are particularly relevant in markets affected by geopolitical tensions and an increased focus on energy security and green transition acceleration.
