Bunker Holding Parent Firm Selfinvest Doubles Earnings to Record High

by Ship & Bunker News Team
Wednesday June 21, 2023

Selfinvest, the ultimate parent company for marine fuels conglomerate Bunker Holding, saw its pre-tax earnings more than double to a record high in the last financial year.

The company reported earnings before tax of DKK 2.9 billion ($425 million) in the year to April 30, up from DKK 1.2 billion the previous year, it said in an emailed statement on Wednesday.

"If I were to summarize in one word why Selfinvest and USTC have delivered such impressive results, I would say it's due to our ability to be agile," Torben Østergaard-Nielsen, founder and co-owner of Selfinvest, said in the statement.

"Our companies and employees have an outstanding ability to navigate through unforeseen challenges such as geopolitical events, extreme price fluctuations, and a surging inflation.

"That is of course an accomplishment that we as owners are very proud of."

Bunker Holding and its subsidiaries have yet to report their individual 2022-23 results, but the Selfinvest statement reveals Bunker Holding saw pre-tax earnings of DKK 1.6 billion, up from DKK 644 million the previous year.

"For many years, Bunker Holding has been the dominant company in USTC, and they continue to be the primary contributor to our record result," Nina Østergaard Borris, CEO of Selfinvest operating company and Bunker Holding parent USTC, said in the statement.

Ship & Bunker News Team
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