
Ørsted Share Drop Causes Andel Billion Loss
Andel, an energy and fiber network corporation, faced an unrealized loss of 5.4 billion Danish Kroner on Ørsted shares in 2023. The resulting pre-tax figure for Andel is a deficit of 5.2 billion Kroner. Andel’s 5.01 percent stake in Ørsted previously garnered a positive adjustment of 11.9 billion Kroner since Ørsted’s IPO in 2016. Before the Ørsted stock adjustment, Andel had an operational pre-tax result of 176 million Kroner. Andel’s turnover dropped to 124.3 billion Kroner in 2023, approximately a third of its 2022 turnover due to the prior year’s high energy prices. CEO Jesper Hjulmand declared the year’s results satisfactory and is pleased with Andel’s sustainable development investments, amounting to 3.4 billion Kroner in solar parks, EV charging, and electricity network expansion. Andel projects over five billion Kroner investments in 2024, focusing on Eastern Denmark’s power network and renewable energy production.