Our numbers
Gross Profit
In 2022, we generated €1.6 billion in gross profit, marking a nearly 9-fold increase from €178.8 million in 2021. The rise in gross profit can be attributed to various factors, primarily the notable price fluctuations and volatility observed in the power and gas markets throughout the year. Additionally, in 2022, we deployed the highest amount of capital in the market in InCommodities’ history. Through strategic risk management, we traded profitably while maintaining a commitment to ensuring European supply security.
Our numbers
Earnings Before Tax
In 2022, we achieved EBT of €1,369.3 million, which compares favorably to our 2021 EBT of €144.1 million. Although, we substantially increased our costs by hiring 52 people during the year, EBT grew 850% percent compared to last year driven by the increased market volatility and our scalable, tech-oriented business model.
Our numbers
Energy Traded
InCommodities is active in 13 gas markets and 20 power markets in Europe, trading 24 hours a day, 365 days a year. We have been on a growth trajectory since our foundation in 2017 and have increased the volume of energy traded each year, significantly contributing to the European energy supply.
The need for balancing and redistributing energy is greater than ever. We need to push the transition towards more green energy, and we need to move power and gas across time and geographies in real time to accommodate fluctuations in supply and demand. As energy traders, we play a crucial role in making this happen.
Jesper Severin Johanson, CEO, InCommodities
When we founded InCommodies, it was with a strong desire not just to advance, but to create a culture and a community our people would thrive in.
Our purpose is to move forward, develop and challenge ourselves with determination, skill and technology.
We believe we will create the strongest results of all, through our culture, community and autonomy.
Through deep market insight and cutting-edge technologies, we are committed to pioneering the energy trading landscape by leveraging the power of algorithms to optimize trading efficiency and renewable asset management.
Our values are grounded in everything we do and in how we run our business:
Honesty
We are a team driven by our ambition to be the best company with the best people. We work towards this by being direct and honest with each other.
We see honesty as the key element to growth, and we use sincere feedback, sparring, and direct communication to excel on every level.
Transparency
We see transparency as the key to building trust. We encourage and invite the entire team to join us at the table, because only with the doors opened to all, do we become empowered.
Rethink
Our ability to be an agile organization that welcomes change makes us resilient.
We seek to improve and to realise that improvement is a circular process. Think, then rethink.
When we founded InCommodies, it was with a strong desire not just to advance, but to create a culture and a community our people would thrive in.
Our purpose is to move forward, develop and challenge ourselves with determination, skill and technology.
We believe we will create the strongest results of all, through our culture, community and autonomy.
Through deep market insight and cutting-edge technologies, we are committed to pioneering the energy trading landscape by leveraging the power of algorithms to optimize trading efficiency and renewable asset management.
Our values are grounded in everything we do and in how we run our business:
Honesty
We are a team driven by our ambition to be the best company with the best people. We work towards this by being direct and honest with each other.
We see honesty as the key element to growth, and we use sincere feedback, sparring, and direct communication to excel on every level.
Transparency
We see transparency as the key to building trust. We encourage and invite the entire team to join us at the table, because only with the doors opened to all, do we become empowered.
Rethink
Our ability to be an agile organization that welcomes change makes us resilient.
We seek to improve and to realise that improvement is a circular process. Think, then rethink.
Committed to Spend 5% of our Earnings to Support Net–Zero
We want to help drive the world towards a more sustainable future – not just by the way we do business, but also with a dedicated net-zero initiative. In the future, part of our earnings will be invested in advancing the green transition across different initiatives.
Committed to Spending 5% of our Earnings to Support Net–Zero
In 2023, we are taking further steps to support the movement towards net-zero emissions.
Through a new commitment called the InCommodities Sustainable Investment Initiative, we are targeting to spend 5% of our earnings every year on investment in infrastructure, companies, or renewable assets that support the transition towards net-zero.
The initiative is in part driven by our experiences in the energy market, which have given us a unique insight into investing intelligently by spending resources where they have the biggest impact. This ability imposes a duty on us. But in addition, we want to create a lasting impact across more dimensions than we do today.
Our 5% contribution will be implemented in various ways. For example, we will invest in infrastructure such as solar parks, where our active ownership can make a difference for the climate, the environment, and society. We will also investigate our options for investing in start-ups with interesting green technology, or in foundations which excel at investing in technology that makes a real difference.
We believe that technological development needs to accelerate progress. There is a need to develop new solutions that are unknown to us today. And we need to scale the technologies we already know. We want to be an active part of these processes.
Building Our First Solar Park
As one of the first projects under the InCommodities Sustainable Investment Initiative, we are currently developing a solar project in Favrskov municipality outside Aarhus, approximately 15km from our headquarters.
We plan to transform a closed plant nursery into a 5.5 MW solar park, which will be able to provide power to 1,200 households or approximately 26 times InCommodities’ own electricity consumption. The park is expected to be operational in the first half of 2024.
We are excited to invest in projects that have a net positive impact on the climate, the local community, and society, which is in line with our goal to focus on sustainable solutions that benefit both our internal and external business.
