Danish companies register record high profits

More money should be invested in new production, urge industry experts

Lucie Rychla

Dec 22, 2016

Danish companies earned record high profits since the financial crisis last year, reveals a new analysis of the Danish auditor organisation FSR Danske Revisorer.

Profits increased by 19 percent to 269 billion kroner before tax compared to 226 billion in 2014.

“Already prior to the financial crisis, we had many companies that were not viable and could only exist in [an environment of] huge overspending,” Tom Vile Jensen, the industrial policy director at FSR Danske Revisorer, told DR.

“These companies are now gone, while those that are still here are smart and have managed to find the formula to make money.”

More investments encouraged
With the larger profits, companies should invest more into new production instead of paying more money to shareholders and owners, believes Jonas Schytz Juul, a head analyst at the economic think-tank AE-Rådet.

The confederation of Danish industry, Dansk Industri (DI), agrees and urges Danish politicians to lower taxes on business investment.

“It is about making it more attractive for companies to invest money in Denmark and create good jobs in Denmark with the most modern equipment for the benefit of the Danes,” said the vice-president of DI, Kent Damsgaard.

FSR’s analysis is based on data from more than 140,000 financial statements from Danish companies, excluding banks and oil companies.

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Danish companies register record high profits

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