Renewable Energy
Danish trader InCommodities reports a 47% decline in profit annually as trading slows
InCommodites - a Danish energy trading company backed by Goldman Sachs - reported on Monday a 47% decline in its pretax profits for 2024, citing lower volatility and fewer trading opportunities. The company's profit before taxes was 72.5 million euro ($82.28) down from 136.4 millions the previous year. This is its lowest level since 2020, but it still falls within a range of target of 50 to 140 million euro. It has predicted a profit before tax of 85 to 195 millions euros for 2025. The company's report stated that "the 2024 performance was shaped primarily by a smaller number...