Danish power plant manufacturer B&W Vølund had a disappointing year in 2016. Meanwhile, CEO John Veje Olesen and many other executives were fired over the course of last year. That the company has faced troubles is not news, but the extent of the damage could surprise many.
Last year, a net loss was realized of no less than DKK 735 million (EUR 98.8 million). A result which means a negative cash flow for Babcock Vølund of DKK 604 million and a need for help from the company's US owner, Babcock & Wilcox.