Challenging 2023 for Obton – growth plans remain unchanged

Obton encountered several obstacles in 2023, resulting in deficits and a decline in revenue. However, the strategic ambitions for the future remain intact.

At Obton, we have just released our financial statements for 2023, revealing an operating profit of 82 million DKK and a net loss of -25.4 million DKK after tax. Concurrently, revenue decreased by approximately 100 million DKK to just under 1 billion DKK.

"2023 was a challenging year in many aspects within investment sales, financing, and the development of renewable energy projects. We – along with many other industry players – faced challenges due to high interest rates, increased liquidity constraints, and pressure on supply chains. Particularly, our Italian revamping activities suffered significantly, resulting in an impairment charge of nearly 200 million DKK. Therefore, we will look back on 2023 as a year where the strong growth we've experienced for many years was somewhat halted," says Obton CEO Anders Marcus, continuing:

"As the overall result in 2023 unfortunately fell below our expectations, we are already actively adjusting our business model by expanding our sales channels and business areas. The goal is to improve our revenue opportunities while reducing risks in the years ahead," he says.

Plenty of confidence in the future

Despite a challenging market, Obtons growth ambitions remain unchanged, according to Anders Marcus.

"We experienced significant growth in the storage sector in Germany, where we quickly established a leading position among the top three players. This has resulted, among other things, in the acquisition of one of Europe's largest battery projects for our current battery fund, Obton Scale. We are also making strides in the Japanese market with both the acquisition of operational solar projects and the development of a larger pipeline of projects for takeover in the coming years. Our focus on greenfield development has also borne fruit, as our project pipeline alone grew by 1 GW in 2023," says the director.

Internationalization continues

Anders Marcus is confident that growth will return, and that the world needs more green energy.

"Although we faced setbacks in 2023, we continue to gear our organization to operate significantly more energy facilities in the years to come. This means that we steadfastly pursue our internationalization strategy with the presence of local employees and offices in all our primary markets," concludes Anders Marcus.

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