Greater Fuel Sales for Cruise Ships and Trawlers Boost Profits, While Goods Division Sees Decline
The latest figures from KNI A/S paint a mixed picture of performance for the first half of the 2025/26 financial year. The company reported a pre-tax profit of DKK 86.8 million, a notable increase from last year’s figure of DKK 59 million. However, total revenue experienced a dip, totaling DKK 1,405 million—a decrease of DKK 40.8 million compared to the same period last year.
This decline is primarily attributed to significant losses in the Goods Division, which saw a revenue drop of approximately DKK 97 million. In contrast, the Energy Division managed to build momentum, increasing its revenue by around DKK 56 million.
A Closer Look at the Goods Division
The downturn in the Goods Division can largely be linked to reduced wholesale turnover in key areas such as tobacco, beer, and water, compounded by the closure of the duty-free shop in Kangerlussuaq. As KNI noted, the Energy Division’s improvement can be traced back to the transition to standard sales pricing, diverging from the previous year’s reliance on profits to subsidize price reductions.
Interestingly, KNI’s overall positive half-year result owes much to an unexpected surge in fuel sales, particularly outside of the standard service contract area. The company notably benefited from increased sales to cruise ships, trawlers, and other distinct customers, which provided a significant boost to earnings.
“Despite shifting market conditions and the associated revenue losses, our Goods Division has shown resilience, adapting its operations effectively. We’ve managed necessary adjustments to both capacity and inventory, though strategic shifts have yet to fully materialize,” KNI A/S stated in a press release.
Looking ahead, KNI is bracing for a challenging second half of the financial year, anticipating that both divisions will report significantly lower profits. The company’s outlook suggests a cautious approach as it navigates the evolving landscape.