Topsoe reports record financial results

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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.”

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