Danish shipowner achieves impressive results
The family-owned shipping company, Rhode Nielsen, known for its coastal protection along the Jutland’s west coast, concluded 2023 with a pre-tax profit of DKK 740 million—a significant increase of DKK 620 million compared to the previous year, as reported in the company’s recently published financial statements on Finans.dk.
The substantial profit was largely driven by one-time revenues from settlements and compensations with overseas customers who had overdue payments spanning more than a decade, according to the management’s report. Concurrently, net revenue increased by DKK 700 million to DKK 2.1 billion.
The return-on-investment ratio also rose from 6.9% in 2022 to 28.8% currently.
Despite these impressive figures, the management does not anticipate a similar outcome in 2024. They foresee activity levels and results returning to those seen before 2023, largely due to the absence of last year’s one-time revenues.
Additionally, Rhode Nielsen’s strong financial performance in 2023 boosted equity from DKK 988 million to over DKK 1.5 billion.
Rhode Nielsen specializes in coastal protection, land reclamation, port development, dredging, cleaning, and offshore services.
For more information about the company, click here: www.rohde-nielsen.com
