Energi Viborg

energiviborg.dk · 13 vendors

Resilience scores

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Last updated 2026-08-22 · revision 2

13 direct vendors, 197 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 4/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Energi Viborg's migration readiness is assessed as low-to-medium, largely due to significant unknowns and the nature of its operational technology. The architecture of the custom 'Customer Portal' (kundeportal.energiviborg.dk) is not specified, making it difficult to determine its cloud-nativity or ease of migration. Core operational technologies such as SCADA, Smart Metering, and Wastewater Treatment systems often involve specialized hardware and on-premise infrastructure, presenting substantial challenges for migration to a public cloud environment. Critical information regarding 'Data Residency Requirements' and the 'Regulatory Environment' is missing, which are crucial factors in defining a migration strategy and selecting appropriate cloud providers. Financial stability, including revenue concentration and growth history, is also unknown, making it impossible to assess the company's capacity to fund a potentially costly migration. While the company uses some SaaS solutions (Emply, Google Tag Manager) and WordPress, which are generally easier to migrate, the 'Vendor Lock-in Risk' is unknown, and the presence of 'Total Services: 20' suggests a potentially complex vendor landscape that could complicate migration efforts.

Compliance

9 in-scope frameworks identified; showing 3.

Danish Whistleblower Protection Act — Compliant

The Danish Whistleblower Protection Act (implementing EU Whistleblower Directive 2019/1937) requires companies with 50 or more employees to establish an internal whistleblower scheme. Energi Viborg with ~105 employees is clearly above this threshold. The company has publicly established and published a whistleblower scheme (Whistleblowerordning) on its website, demonstrating compliance with this requirement. Risk is Low as the company has demonstrably implemented the required mechanism.

Evidence: https://www.energiviborg.dk/whistleblowerordning/, https://www.energiviborg.dk/organisation-og-chefgruppe/, https://www.retsinformation.dk/eli/lta/2021/1436

Danish Electricity Supply Act — Assessment Required

The Danish Electricity Supply Act is the primary sector-specific regulation governing electricity supply and distribution in Denmark. Energi Viborg Strøm (electricity retail), Energi Viborg Flex-El (spot-price electricity trading), and Elnet Midt A/S (electricity distribution network) are directly subject to this legislation and oversight by the Danish Energy Agency (Energistyrelsen) and the Danish Utility Regulator (Forsyningstilsynet). Non-compliance can result in licence revocation, regulatory sanctions, and significant financial penalties. Risk is High due to the critical nature of electricity supply regulation and the direct licensing requirements. The company's website references customer rights under ens.dk, indicating awareness of regulatory obligations.

Evidence: https://www.energiviborg.dk/stroem/om-stroemselskaberne, https://www.energiviborg.dk/nyheder/ny-lovgivning-godkendelse-af-elaftaler-fra-1-juli-2026, https://ens.dk/forsyning-og-forbrug/dine-rettigheder-som-elkunde, https://www.retsinformation.dk/eli/lta/2023/1248, https://www.forsyningstilsynet.dk/

CSRD (source) — Assessment Required

The CSRD requires large companies and listed SMEs to report on sustainability matters with mandatory assurance. Energi Viborg with ~105 employees is below the 250-employee threshold for large company classification. However, the group's combined turnover and balance sheet figures are not publicly confirmed, and if the consolidated group exceeds two of three CSRD thresholds (250 employees, €40M turnover, €20M balance sheet), reporting obligations could apply from 2026 (for FY2025). The company already references UN SDGs, suggesting sustainability awareness. Risk is Low currently given the employee count, but warrants monitoring.

Evidence: https://www.energiviborg.dk/verdensmaal, https://www.energiviborg.dk/aarsrapporter/, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32022L2464

Financials

Three-year financials

Financial Resilience Score: 9/10

Energi Viborg A/S exhibits exceptional financial resilience, underpinned by a very strong balance sheet with a solvency ratio of approximately 85% (equity of DKK 3.36bn against total assets of DKK 3.97bn) and modest financial debt of only ~DKK 136M in long-term credit institution debt. The group is 100% owned by Viborg Kommune (Municipality of Viborg), providing a stable political and financial backstop. Cash generation is robust, with operating cash flow rising to DKK 252.2M in 2025 from DKK 163.7M in 2024, and net financial income turning positive at DKK +22.8M on a growing DKK 226M cash pile at year-end 2025. Approximately two-thirds of revenue derives from regulated monopoly activities (water, wastewater, and electricity distribution) with highly predictable long-term cash flows subject to Danish sector regulation. The 2025 audit by Beierholm was unqualified, with management explicitly stating no significant measurement uncertainties or unusual conditions. There are no material contingent liabilities at group level. Equity has grown steadily every year from DKK 3.11bn (2021) to DKK 3.36bn (2025), financed entirely by retained earnings. Key risks stem from a heavy reinvestment phase, including a new wastewater treatment plant with a DKK 425M contract value (2026-2028), and rising capex intensity (DKK 241M in 2025). The water subsidiary now borrows to fund investments, and the 2026 budget projects a step-down in pre-tax profit to DKK 48.8M reflecting normalisation and higher depreciation. Concentration in a single Danish municipality and regulatory tariff-cap risks are further constraints, but the overall risk profile remains very low.

Key strengths: Solvency ratio ~85% with equity of DKK 3.36bn, 100% ownership by Viborg Kommune provides municipal backstop, Regulated monopoly cash flows (water, wastewater, electricity distribution) ~63% of revenue, Strong operating cash flow of DKK 252.2M in 2025, Unqualified clean audit by Beierholm with no significant uncertainties, Steady equity growth every year from DKK 3.11bn (2021) to DKK 3.36bn (2025), Positive net financial income of DKK +22.8M on DKK 226M cash pile, No material contingent liabilities at group level

Risk factors: Rising capex intensity with DKK 425M new wastewater treatment plant contract (2026-2028), Water subsidiary now requires borrowing to fund investments, Regulatory risk from tariff caps and pending sector legislation revisions, Retail electricity competition (Flex-El loss of DKK 1.0M in 2025), Climate/environmental risk from intensified rainfall stressing wastewater capacity, Geographic concentration in a single municipality (Viborg Kommune), NIS2 critical infrastructure cyber/compliance burden, Rising sickness absence (2.9% in 2024 to 4.19% in 2025), Unrecognised tax asset of DKK 243M in water subsidiary indicating tax loss utilisation uncertainty, 2026 budget projects step-down in pre-tax profit to DKK 48.8M from DKK 91.4M in 2025

Revenue by geography

Revenue by product/service

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