Topsoe has released its financial results for 2023 which revealed record revenue and earnings, combined with an all-time high in investments in technologies and solutions that support the energy transition.
Revenue increased by 38% to DKK 9,416 million driven mainly by a strong demand for Topsoe catalysts especially in EMEA and North America and strong market growth in technology solutions.
20% of revenue, around DKK 1,900 million, came from business related to technologies and solutions that enable the production of e-fuels, low-carbon fuels and renewable fuels.
EBIT before special items increased by 59% to DKK 964 million due to double-digit growth in both the catalyst and technology business, with an EBIT margin of 10.2% (2022: 9%).
Roeland Baan, CEO, Topsoe, said: “Last year was a significant year for Topsoe. We grew our business across segments, while delivering on our own transformation. The past few years, we have invested heavily in technologies that enable net-zero and made significant progress to be the preferred partner for customers who want to reduce their carbon emissions. Today, we have strong market positions within low-carbon and renewable fuels and are involved in some of the most innovative Power-to-X projects globally.
“We are well positioned to utilise our strong knowledge to enable the massive decarbonisation of energy-intensive and long-distance transportation sectors such as aviation, shipping, and heavy industry. The decarbonisation of these industries are the key for society to reach global net zero targets by 2050.”
Topsoe reports record financial results
