DONG Energy announces biggest loss in Denmark’s history

Despite of record-breaking operating profit, the company experienced impairment loss of 12,1 billion kroner in 2015

Lucie Rychla

Feb 5, 2016

DONG Energy has announced the largest financial loss of any Danish company in the history of Denmark, reports Berlingske.

DONG has posted a 12.1 billion kroner net loss for 2015, following a 5.3 billion loss in 2014.

It took a massive hit in the form of an impairment loss of 15.8 billion kroner after tax – 14.8 billion of which was related to a reduction in its oil and gas reserve estimates and a general fall in price.

Otherwise healthy
“Despite strong headwinds in the commodity markets, we delivered a record-breaking operating profit in 2015, which was up 13 percent [to 18.5 billion kroner]. This makes DONG Energy one of the fastest-growing energy groups in Europe,” stated Henrik Poulsen, the CEO of DONG.

“However, deteriorating oil and gas prices and significant challenges with the Hejre project regrettably led to substantial impairment losses in our oil and gas business.”

Focus on renewables
According to Berlingske, the 12.1 billion kroner loss makes DONG the all-time record holder, beating GN Store Nord, which reported a 9 billion kroner loss in 2001.

“The focus on renewables has created a unique platform for continued growth and value creation,” Poulsen said.

How is Denmark addressing violence against women

According to a report from the Ministry of Justice, partner killing is the second most common type of murder, and women are victims in 83% of the cases, all of them killed by men. Regarding the gender gap, women earn, on average, 12.4% less than men. While Denmark is one of the safest places for women in the world, the issues are far from being solved.
Danish climate minister disappointed with new global climate agreement

The UN climate summit COP29 ended with a new target for climate financing. However, the world’s countries could not agree on an agreement on fossil fuels. Denmark’s climate minister and NGOs criticize the outcome of the climate summit
The intuition trap: leading Danes in cross-cultural teams

Signe Biering, an executive coach trained in psychology with a background in diplomacy, explains how over-reliance on intuition in decision-making can hinder cross-cultural collaboration. She highlights Denmark’s cultural tendency to trust gut feelings and authenticity but warns of its risks in diverse teams. Biering advocates for leaders to challenge instincts, embrace differences, and balance intuition with analytical thinking to foster trust, collaboration, and growth.
Swedish households receiving brochure on crisis and war preparedness these weeks

The brochure offers advice on how to prepare for crises or war and respond to serious incidents, and its aim is to “remind people of the importance of considering and strengthening their preparedness.”
“Talents, start using AI tools now,” says Siri and Change.org founder

In an exclusive interview with The Copenhagen Post, the founder of Siri and Change.org, and currently VP of AI Experience at Airbnb, gives young talents advice on how to deal with the job market changed by artificial intelligence.
Testing free school meals for 20,000 kids and tax deduction for homeowners in 2025 Finance Act

The government has reached an agreement on next year’s Finance Act with SF and Radikale Venstre. A test on free school meals for a limited number of children will be introduced. Homeowners will get more options for deductions for home improvements

Connect Club is your gateway to a vibrant programme of events and an international community in Denmark.

Career

The intuition trap: leading Danes in cross-cultural teams

Signe Biering, an executive coach trained in psychology with a background in diplomacy, explains how over-reliance on intuition in decision-making can hinder cross-cultural collaboration. She highlights Denmark’s cultural tendency to trust gut feelings and authenticity but warns of its risks in diverse teams. Biering advocates for leaders to challenge instincts, embrace differences, and balance intuition with analytical thinking to foster trust, collaboration, and growth.
“Talents, start using AI tools now,” says Siri and Change.org founder

In an exclusive interview with The Copenhagen Post, the founder of Siri and Change.org, and currently VP of AI Experience at Airbnb, gives young talents advice on how to deal with the job market changed by artificial intelligence.
“Without internationals, we wouldn’t have the people we need,” says Fujifilm Diosynth Biotechnologies

Fujifilm’s Hillerød facility thrives with a diverse workforce, employing over 1,800 people from more than 65 nationalities. Morten Munk, Director of Global Alliance Management, highlights how the company’s rapid growth relies on attracting international talent due to Denmark’s limited pool of scientific professionals.

Want to advertise your job with CPH Post?

Jobs