Dan-Bunkering Saw 241% Surge in Pre-Tax Profit Last Year

by Ship & Bunker News Team
Friday June 23, 2023

Global hybrid marine fuels firm Dan-Bunkering saw a 241% jump in its pre-tax earnings last year, while revenues hit a record high.

The company saw earnings before tax of $46 million in the year to April 30, it said in an emailed statement on Friday, up from $13.5 million the previous year.

Pre-tax earnings the previous year had been held down by its fine over EU sanctions breaches, and in 2020/21 the company saw earnings before tax of $19.5 million.

Revenue jumped to a record $4.1 billion last year, from $3.3 billion in 2021/22.

The firm cited last year's oil-price surge, as well as the company's acquisitions of South African Bunkering & Trading and Amoil, as being behind the gains.

"Our very strong results show that we have the right strategy and the right team in place to support our customers navigate the latest challenges facing our industry," Claus Bulch Klausen, CEO of Dan-Bunkering, said in the statement.

"Merging with the strong brands SABT and Amoil represents a natural evolution for Dan-Bunkering, strengthening our global position in fuel solutions, and positively impacting our ability to drive innovation and support our customers",