Profit drop for Aarhus energy firm after boon year

In 2023, MFT Energy’s operating profit plummeted to 71.7 million euros from over 576 million euros in 2022, marking an 87% decrease. 2022’s energy price volatility led to exceptional profits for traders like MFT Energy, which nearly ninefold increased its operating profit from 2021. CEO Bo Palmgren remarked that the market has normalized with steadier prices. Denmark’s largest energy traders, Energi Danmark and Danske Commodities, earned 8.8 and 10.9 billion DKK after tax in 2022. The sector has faced legal issues, with eight men arrested last year for manipulating energy trades for significant illicit gains.