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Dan-Bunkering delivers ‘solid results’ for FY 2020/21; EBT at USD 19.5 million, volume up 7.2%

17 Jun 2021

Middelfart-based Dan-Bunkering on Wednesday (16 June) announced its annual results for the fiscal year 2020/21, ending April 30th, 2021.

The company reported earnings before tax at USD 19.5 million, which is an increase of 28%; volume increased by 7.2% year-over-year.

“In a most unprecedented year, our employees around the world have shown tremendous grit,” said CEO Claus Bulch Klausen.

“Like everyone else they have been working from home, in and out of isolation, and forced to embrace new digital ways to connect with clients and suppliers. I am very impressed with the way they have tackled these challenges while demonstrating constant commitment and dedication.

“We are very satisfied with the year’s financial results. World-wide demand dropped but we still managed to gain decent market shares, especially in Asia where we saw a significant rise in volume supplied compared to the previous year. Even though the industry in some segments and regions is still struggling, we are confident that as COVID-19 loosens its grip, we will see the market picking up and demand rising. We therefore look to the coming fiscal year with optimism.”

Earlier this year, Claus Bulch Klausen was appointed Dan-Bunkering’s new Chief Executive Officer.

He has been with the company for 17 years making him an industry veteran and aware of the value in preserving close customer relations.

With the recent transition to IMO-compliant fuels and challenges caused by the global pandemic, Dan-Bunkering increased its focus on building and maintaining strong partnerships.

The company will continue to enhance value creation for its customers and ensure they are provided with guidance and security when they need to cover their requirements and get quality market insights. This also applies to the new fuels space.

“Creating value for our clients has always been at the centre of our attention. With the recent IMO 2020 transition well implemented, the interest from clients and suppliers to gain knowledge on alternative fuels is rapidly increasing especially when it comes to supply options, pricing, and regulations,” says Claus Bulch Klausen.

Going forward, Dan-Bunkering will continue to execute on its long-term strategy of adding value in the supply space of traditional fuels while ensuring guidance and optimal solutions for its business partners on new fuels and digital transition.

 

Photo credit: Dan-Bunkering
Published: 17 June, 2021

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