Semco Maritime reported an increase in profit after tax to Dkr209m (€28m) compared with Dkr133m in 2022.
Renewables revenue grew by 104% to Dkr2406m, compared with Dkr1179m in 2022 on the back of strong demand and activity within offshore substations and services for offshore wind projects.
The acquisition of Wind Multiplikator Group in the renewables business contributed Dkr291m in revenue from the completion of the transaction in May.
The order inflow in renewables more than quadrupled to Dkr4505m (Dkr778m in 2022) following the signing of several offshore substation contracts and multi-year contracts for provisioning of services for offshore projects.
“We are pursuing our Sustainable Growth strategy by applying our extensive expertise and in-depth experience from the offshore sector to capitalise on opportunities in the energy markets and shift the balance of our operations further in favour of the Renewables business.
“In 2023, we executed on the strategy through organic growth and with the acquisition and integration of the highly complementary German full-service provider Wind Multiplikator Group, which added 250 employees based in Bremen, an operational centre in Emden and additional weight for Semco Maritime in the offshore wind service market,” said CEO Steen Brodbaek.
Brodbaek added: “We see a clear path ahead of us and continue to leverage our competitive advantages in the Renewables and Conventional energy segments in markets impacted by geopolitical tensions and intensified focus on energy security as well as rising political attention on accelerating the green transition.”