Our numbers
Earnings Before Tax
In 2023, we achieved an EBT of €136.4 million. While this represent a significant decrease compared to the 2022 EBT, it remains a very satisfying result, indicating our strong ability to generate profit even in market conditions with low volatility and limited opportunities.
Our numbers
Equity
Equity decreased from €712.3 million in 2023 to €618.6 million in 2023, which corresponds to a return on equity of 17.2%.
Our numbers
Energy Traded
In 2023, the energy markets experienced a return to stability, characterized by decreased volatility and notably lower demand compared to the turbulent conditions of 2022. This shift is evident in the volume of energy traded throughout 2023 compared to 2022. Building on our momentum from previous years, including 2021, InCommodities continued to increase its share of energy trading in the markets where we are present. InCommodities operates in 16 gas markets and 35 power markets across Europe, Asia Pacific, and North America, trading 24 hours a day, 365 days a year.
Our commitment to supporting the transition towards net zero remains unwavering as we leverage our core strengths to pursue global opportunities to maximize our impact. The dedication and expertise of our team members have been and will continue to be instrumental in this progress.
Jesper Severin Johanson, CEO, InCommodities
Establishing a Center for Research in Energy
As committed in the InCommodities Sustainable Investment Initiative launched in 2022, we continuously aim to spend up 5% of our yearly earnings on investments in initiatives that support the transition towards net zero. In 2023, this included donating DKK 25 million to the establishment of the Center for Research in Energy situated at Aarhus University.
Committed to Spending 5% of our Earnings to Support Net–Zero
In 2023, InCommodities donated DKK 25 million to the establishment of the Center for Research in Energy (CoRE) at Aarhus University, Denmark.
The research center will unite research in energy, environmental and climate economics with a focus on quantitative methods and their development, thus providing the knowledge upon which future energy markets can be built. It will bring together various disciplines, reflecting the nature of energy systems, educate a considerable number of PhDs, host international conferences in Aarhus and collaborate with the most impactful researchers in the world.
Aarhus is home to a thriving cluster of energy trading companies that have significantly increased their market share in the global energy market in recent years. The sector's talent pool is highly educated, and the establishment of CoRE will contribute positively to its future development and sustainability efforts.
At InCommodities, we firmly believe in fostering knowledge about the global energy markets and their importance to the green transition is crucial for accelerating the transition towards net zero. The complexity of the energy markets and the increased level of sustainable energy sources calls for research and education at a new level. Supporting an innovative and future-oriented research center such as CoRE enables us to contribute to this goal.
The research center opened January 1st, 2024.
