Bunker Holding reports USD 46 million pre-tax profit in ‘highly competitive and shifting market’

Despite a tough year, and notwithstanding recent challenges, Bunker Holding on Tuesday (24 June) said it has succeeded in maintaining volumes and in delivering a profit before tax from continuing operations of USD 46 million. 

The company said the financial year 2024/2025 has presented a new set of challenges. In addition to a year shaped by intensified competition, oil prices reaching a four-year low, and limited volatility, Bunker Holding has also conducted write-downs on assets originating from discontinued operations in the last financial year.

“In many ways, it has been a very demanding year. The market conditions and competition have been tough, and we have seen margins under pressure across the board. Therefore, I am pleased that we have managed to pull through what has been a trying year while maintaining our volumes and our strong customer relations,” said Keld R. Demant, CEO of Bunker Holding.

Last year, Bunker Holding had to make the difficult but necessary decision to exit cargo activities in Africa and close select operations. Contrary to own expectations, further investigation led to additional write-downs on assets originating from the business area closed last year. In total, write-downs from discontinued operations amounted to USD 36 million.

Bunker Holding’s financial result also reflected the Group’s continued investments in supporting the maritime industry’s transition to lower emissions. Over the past year, the Group strengthened partnerships with producers of new fuel and expanded its biofuel footprint, resulting in the industry’s largest biofuel supply network now covering more than 150 ports worldwide.

In late 2024, Bunker Holding relaunched and accelerated its strategy under the banner ‘Fit for Future’. The strategic framework, which also involved restructuring Bunker Holding’s operations and commercial organisation, is designed to better position Bunker Holding to respond to an increasingly complex market.

“With the acceleration of our strategy, we have taken important steps to position the company for growth and to build a world-class organisation to help us prepare for the future and create value today. While a transformation of this scale is never without its challenges, the high level of engagement from our employees gives me strong confidence in the direction we are heading and in what we will achieve together,” said Keld R. Demant.

Bunker Holding’s expectations for the financial year 2025/2026 include continued strong market competition as well as macroeconomic uncertainty.

As the industry continues to evolve, Bunker Holding remains committed to delivering stable results and adapting to regulatory and customer-driven demands.

“I am confident that the operations we continue to invest in remain strong, and that we are heading into the future with purpose and a clear direction of where value can be created,” said Keld R. Demant.

Photo credit: Bunker Holding
Published: 25 June, 2025