Press releases | 21-03-2018

Annual report 2017

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“A year of challenge and organisational change”

The BWSC Annual Report 2017 has now been launched.

2017 was a challenging year for BWSC with a number of EPC projects performing below expectations. Costs relating to the Burmeister & Wain Energy (BWE) bankruptcy and issues with a key component supplier resulted in a negative profit development. The EPC projects, which have caused unsatisfactory financial performance in 2017, are now in operation, and the commercial negotiations with the clients are in the final stages. Despite the challenges, BWSC maintained a high activity level during the year and secured 2 engine-based projects in West Africa. The acquisition of BWE assets significantly added to BWSC’s competence pool, and BWSC enters 2018 with a profitable outlook.   

Highlights from the BWSC Annual Report 2017 are:

  • Negative profit development with a loss before tax of DKKm 22 
  • Revenue of DKKm 2,882 at a continued high level
  • The order intake for 2017 amounted to DKKm 3,769, and the order backlog at end-2017 amounted to DKKm 7,120, which is once again an all-time high
  • In February 2017, BWSC acquired biomass assets from BWE and welcomed more than 80 key employees