Danish electricity supplier SE secures funds for new acquisitions

Despite SE's DKK 1.3 billion impairment on its acquisition of cable provider Stofa, CEO Niels Duedahl is ready for further expansion this year. However, offshore wind is being scrutinized.

Photo: SE

An impairment worth DKK 1.3 billion (EUR 175 million) on SE group's acquisition of Danish cable and internet provider Stofa from five years ago, has tarnished an otherwise record report for the Danish firm.

The company emerged from 2016 with a profit of DKK 906 million before impairments (EBITDA) and a result before tax of DKK 965 million. This is a huge improvement relative to 2015, where the result before tax landed at a DKK 60 million minus. The boost is attributed to SE's sale of shares in Danish energy giant Dong.

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