Evida

Denmark · owned by Finansministeriet, Departementet (Denmark) · evida.dk · 24 vendors

Evida is Denmark's national gas distribution company, responsible for operating and maintaining the approximately 18,000 km gas pipeline network that spans most of the country. The company monitors the gas system around the clock to ensure safe, stable, and efficient operation, and actively works on connecting biogas plants to the network as part of Denmark's green energy transition. Evida is also preparing future infrastructure for CO2 and hydrogen transport.

Resilience scores

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Last updated 2026-09-13 · revision 6

24 direct vendors, 299 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.

Evida exhibits medium migration readiness. Key challenges include the reliance on specialized SCADA systems for critical national infrastructure, which are inherently complex to migrate to cloud environments due to real-time operational requirements and often proprietary nature. The tech stack is a mix of modern digital platforms (Mit Evida, GASmon) and potentially legacy systems (Umbraco CMS). The regulatory environment is stringent, requiring compliance with national and EU energy regulations, GDPR, and the upcoming NIS2 Directive, which will impose strict cybersecurity and resilience requirements on any migrated infrastructure. Data residency requirements mandate all data be processed within the EU/EEA, limiting cloud provider and region choices. The vendor landscape, while geographically diverse for its 45 services (assuming this data is accurate despite the 'Total Vendors: 0' contradiction), implies a potentially complex ecosystem to manage during a migration, with 'unknown' vendor lock-in risk. Opportunities for migration include Evida's financial stability, which provides a solid foundation to fund significant efforts, and strategic investments in new CO2 and Hydrogen infrastructure, indicating a forward-looking approach that could be leveraged for a phased migration strategy. Existing digital customer-facing platforms suggest some internal capability for modern software development.

Compliance

6 in-scope frameworks identified; showing 3.

GDPR (source) — Assessment Required

As a Danish company operating critical infrastructure, Evida processes extensive personal data including employee records, customer data, supplier information, and operational data. GDPR non-compliance can result in fines up to 4% of annual turnover or €20M. Given their critical infrastructure status and large customer base across Denmark, the volume of personal data processing is significant, making compliance essential and non-compliance highly impactful.

Evidence: https://evida.dk/privatlivspolitik/, https://evida.dk/cookieinfo/

ISO 27001 (source) — Assessment Required

As a critical infrastructure operator managing sensitive operational data and customer information, information security management is crucial. ISO 27001 certification would demonstrate systematic approach to information security. Given NIS2 requirements for cybersecurity measures and the critical nature of gas infrastructure, robust information security management is essential. Lack of certification could indicate security gaps that could lead to operational disruptions or regulatory non-compliance.

ISAE 3000 (source) — Assessment Required

As a regulated utility with multiple subsidiaries and stakeholders, ISAE 3000 assurance engagements could be relevant for ESG reporting, sustainability claims, or operational controls. Given their participation in UN Global Compact and ESG focus, third-party assurance on sustainability reporting would enhance credibility. However, this is not legally mandated and primarily serves stakeholder confidence purposes.

Evidence: https://evida.dk/esg-krav/

Financials

Three-year financials

Financial Resilience Score: 8/10

Evida Holding A/S demonstrates strong financial resilience underpinned by its status as a 100% Danish state-owned regulated monopoly gas distribution operator. The company benefits from exceptional credit and political backing from the Danish Ministry of Finance, including a long-term interest-deferred state loan of DKK 2,593M that is repayment-free until 2029. As a regulated monopoly under the Gas Supply Act, Evida's tariffs and revenue caps are set by the Danish Utility Regulator, providing inherent revenue predictability across economic cycles. The company operates critical national infrastructure with 99.99% uptime maintained every year from 2021-2025 and a near-100% market share of Danish gas distribution. The balance sheet has steadily strengthened, with equity growing from DKK 1.41B in 2021 to DKK 1.66B in 2025 (CAGR ~4.2%), and the solidity ratio improving from 20.3% to 24.9% over the same period. No short-term bank debt remained at year-end 2025. EBIT and net profit improved meaningfully in 2024-2025 as operating cost discipline outpaced gross revenue decline. However, EBITDA structurally reset lower in 2024 (~DKK 515-569M vs ~DKK 830M in 2021-2023) reflecting the tariff revenue cap reset, and ROCE remains modest at 2.6% (2025), typical of regulated utilities but limiting financial flexibility. Key concerns include structural decline in legacy gas demand due to Danish political target to phase out gas heating by 2035, capex intensity (DKK 600-800M guided for 2026), abandonment liabilities of DKK 898M for future pipeline removal, and execution risk in new CO2 and hydrogen business ventures. Despite these, the combination of state ownership, regulatory protection, improving solidity, and strategic diversification into CCUS and hydrogen infrastructure provides robust resilience.

Key strengths: 100% Danish state ownership (Ministry of Finance) providing exceptional credit backing, Regulated monopoly with revenue caps set by Danish Utility Regulator, Long-term interest-deferred state loan of DKK 2,593M (repayment-free until 2029), Equity ratio improved from 20.3% (2021) to 24.9% (2025), 99.99% uptime maintained every year 2021-2025, Near-100% market share of Danish gas distribution, No short-term bank debt at year-end 2025, Strategic diversification into CO2 transport and hydrogen infrastructure, Biogas now ~40% of distributed volume

Risk factors: Structural decline in legacy gas demand; Danish political target to phase out gas heating by 2035, Regulatory risk: revenue caps for 2023-2026 still preliminary and could be revised, Abandonment liabilities of DKK 898M for pipeline removal/site restoration, Cyber and physical security risk; threat level raised to 'orange' in 2025, Execution risk in nascent CO2 and hydrogen business ventures, High capex intensity (DKK 600-800M guided for 2026), Low ROCE of 2.6% limits financial flexibility, EBITDA structurally reset lower from 2024 onwards

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