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Semco Maritime beats its 2023 targets

18 April 2024

Semco Maritime accelerated growth, lifted profitability and boosted its order book in 2023, it said April 18, summarising its annual report. Both business areas – Renewables and Conventional – delivered operational and financial performances that beat its expectations. Revenue grew by 47% to DKr 5bn, lifting earnings 51% to DKr 305mn for a profit margin of 6%.

The acquisition and integration of German full-service provider Wind Multiplikator Group helped it grow in the offshore wind service market.

The strong performance was helped by a high-capacity utilisation rate, good project execution and prudent cost management combined with lower prices throughout the year.

“We continue to leverage our competitive advantages… in markets impacted by geopolitical tensions and intensified focus on energy security as well as rising political attention on accelerating the green transition,” the company said April 18.

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