Semco Maritime reported Dkr204m (€27m) in profit, before amortisation and depreciation and special items, compared with Dkr80m.
The group continued to generate strong growth in 2022, as combined revenue was up by 38% to Dkr3.4bn, compared with Dkr2.46bn, driven by a particularly strong performance in the renewables business, which accounted for 65% of the revenue share.
The renewables business reported a 101% increase in revenue to Dkr1.17bn, compared with Dkr586m in 2021, driven by strong business activity related to the provision of services for a number of offshore wind projects and offshore substations and related services.
The business area secured a solid order inflow of Dkr790m in 2022, compared with Dkr2.8bn in 2021, after concluding a number of large, multi-year offshore wind projects in the previous year.
“In 2022, we built a stronger platform for the future growth and development of Semco Maritime in a market impacted by geopolitical tensions, an energy crisis and an intensified focus on energy security from existing oil and gas installations as well as a much greater political commitment to accelerate investments for the green transition.
“We launched the Sustainable Growth strategy, which is intended to accelerate our growth and drive up our Renewables business’ share of our overall revenue to about 65%, thereby strengthening Semco Maritime’s contribution to the transition of the global energy sector,” said CEO Steen Brødbæk.
He added: “We have set ambitious targets for the coming years and expect to take the next steps in 2023 towards achieving our goals by lifting revenue and earnings based on our long-standing track record in the offshore market and strong positions in both the Renewables and Oil & Gas areas.”