Glander International Bunkering 2023/24 Profits Drop From Previous Year's Record

by Ship & Bunker News Team
Thursday July 4, 2024

Global hybrid marine fuels firm Glander International Bunkering saw a 45.8% drop in its pre-tax profits in the last financial year, sliding from the record level seen a year earlier.

The company saw pre-tax earnings of $22.17 million in the year to April 30, it said in an emailed statement on Thursday, down from a record high of $40.9 million a year earlier.

The 2022/23 financial year had been "marked by extreme volatility, price hikes and supply disruptions due to political turmoil compared to 2023/24, when shipping and bunkering experienced a notable return to normalization with energy prices dropping to stable levels," CEO Carsten Ladekjær said in the statement.

The firm had a 25% return on equity and 21% solvency ratio in 2023/24.