Andel Holding A/S Due Diligence

Run due diligence on Andel Holding A/S: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by Andel A.M.B.A. (Denmark) · andel.dk · 42 vendors

Andel is Denmark's leading energy and fiber network group (koncern), structured as a cooperative (andelsselskab) headquartered in Svinninge, Denmark. The company delivers vital infrastructure including electricity grid services, renewable energy (wind and solar), EV charging, fiber broadband, and energy trading through its subsidiaries such as Clever, Fibia, Andel Energi, Nexel, Mind Energy, and Andel Lumen. As a cooperative, Andel is member-owned and focused on creating welfare and growth for its members, customers, and the broader Danish society.

Resilience scores

Technology vendors

Services catalogue

1 service in catalogue across 1 category; runs on 42 sub-vendors.

Insights

Last updated 2026-09-15 · revision 42

42 direct vendors, 313 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

11 in-scope frameworks identified; showing 3.

Danish Telecommunications Act — No public evidence

Through its subsidiary Fibia, Andel is a major provider of fibre-optic broadband in Denmark, making it subject to the national telecommunications regulations.

Evidence: https://andel.dk/en/the-group/

ISO 27001 (source) — No public evidence

As a critical infrastructure provider, customers and partners in the energy and telecommunications sectors have high expectations for information security. ISO 27001 is the leading standard for information security management systems.

ISAE 3000 (source) — No public evidence

This assurance standard is relevant for providing assurance on non-financial information, such as cybersecurity controls (in relation to NIS2) or sustainability reporting (in relation to the EU Taxonomy and CSRD).

Financials

Three-year financials

Financial Resilience Score: 7/10

Andel Holding A/S demonstrates high structural resilience despite persistent negative EBIT at the parent-holding level. The company benefits from a very strong equity buffer of DKK 14.2 billion, cooperative ownership by 400,000 members that provides patient capital, and a natural-monopoly regulated electricity distribution business (Cerius and Radius) that carries approximately 33% of Denmark's electricity consumption. These regulated grid assets provide predictable long-cycle cash flows that underpin the group's ability to invest through cycles. However, FY2025 marked a decisive transitional year with a widened net loss of DKK -1.21 billion (versus DKK -223M in 2024) and DKK 1.1 billion of equity erosion, largely tied to the sell-down of the group's Ørsted stake (~DKK 3 billion) and impairments/valuation adjustments as capital was recycled into direct electrification infrastructure. Group-level investment stepped up sharply to DKK 8.1 billion in 2025 from DKK 4.8 billion in 2024, while group EBITDA of DKK 3.1 billion remains healthy. The holding-entity's EBIT has been negative every year since 2021, and equity has declined for three consecutive years, which tempers the resilience score despite the strong asset base.

Key strengths: DKK 14.2B equity buffer providing deep loss-absorbing capacity, Regulated electricity distribution monopoly carrying 33% of Denmark's power, Cooperative ownership by 400,000 members enabling patient long-payback capital, Group EBITDA of DKK 3.1B in 2025 remains healthy, Leading positions in growth verticals: EV charging (16,080 points), fibre, solar

Risk factors: Persistent negative EBIT at holding level every year 2021-2025, FY2025 net loss widened sharply to DKK -1.21B from DKK -223M in 2024, Equity declined for three consecutive years (15.8B → 15.3B → 14.2B), Concentrated exposure to Ørsted equity value creating P&L volatility, Heavy capex cycle with DKK 8.1B group investment in 2025 requires asset recycling, Geographic concentration - essentially 100% Denmark, mostly Eastern Denmark, Integration/restructuring risk from Andel Energi/Clever/Watts merger

Revenue by geography

Workforce by country

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