EWII Koncernen Due Diligence

Run due diligence on EWII Koncernen: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by EWII S/I (Denmark) · ewii.dk · 10 vendors

EWII is a Danish energy and utilities group headquartered in Kolding, Denmark, providing electricity, internet, EV charging, water, and district heating services to private and business customers. The group operates as a consumer-owned cooperative serving customers primarily in the Trekantområdet (Triangle Region) and on Bornholm. EWII is committed to contributing to a 100% climate-neutral energy system through renewable energy and green transition initiatives.

Resilience scores

Digital Sovereignty: 30
Digital Resilience: 6
Financial Resilience: 8

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Insights

Last updated 2026-09-13 · revision 2

10 direct vendors, 180 subvendors

Direct vendors by controlling owner country (sample)

Denmark: 2
United States: 5
Canada: 1

Subvendors by controlling owner country (sample)

Switzerland: 2
Czech Republic: 2
Italy: 2

Compliance

12 in-scope frameworks identified; showing 3.

Financials

Three-year financials

2025: revenue DKK 402M, EBIT DKK -11.9M, equity DKK 524M
2024: revenue DKK 354M, EBIT DKK -63.5M, equity DKK 801M
2023: revenue DKK 291M, EBIT DKK -16.9M, equity DKK 954M

Financial Resilience Score: 8/10

EWII Koncernen demonstrates strong financial resilience underpinned by a very substantial equity base of approximately DKK 5.5 billion and a solvency ratio of 37.5% in 2025 (down from 46.3% in 2023 but still healthy for a capital-intensive utility). As a self-owning institution (selvejende institution), the group has no dividend obligations to shareholders, allowing full reinvestment of earnings into infrastructure and green transition initiatives. The group also maintains a large liquid financial reserve through EWII Invest, valued at more than DKK 1.9 billion in 2025, which delivered a DKK 170m gain (+6.2%) in 2025 and DKK 340m (+14.4%) in 2024. The regulated infrastructure segments (electricity distribution via TREFOR El-net, district heating, and water) provide stable, predictable cash flows under Danish cost-plus regulation with uptime exceeding 99.9%. Financing is predominantly through long-dated Danish realkredit (mortgage bonds), providing cheap and stable funding. The post-balance-sheet Fibernet divestment closed on 1 February 2026, generating a DKK 1.1 billion gain and materially recapitalising the group, with management guiding to DKK 1.0-1.2 billion net result in 2026. Risks include exposure to volatile power markets (DKK 151m combined loss/provision on long-dated solar PPAs in 2025), execution delays in growth areas (batteries, EV charging, trading), heavy geographic concentration in Denmark (99% of revenue), rising financial costs (DKK 113m in 2025), grid capacity constraints, groundwater contamination risks requiring future capex, and cyber threats to critical infrastructure. Nevertheless, the group's fortress balance sheet, foundation structure, and imminent liquidity boost from the Fibernet sale support a strong resilience score.

Key strengths: Very strong equity base of DKK 5.5B with 37.5% solvency ratio, Foundation ownership structure (S/I) with no dividend obligations, Liquid financial reserve of DKK 1.9B+ via EWII Invest, Stable regulated cash flows from electricity, heating, water, Long-dated realkredit (mortgage bond) financing, DKK 1.1B gain from Fibernet sale closed Feb 2026, Management guiding DKK 1.0-1.2B net result for 2026, Unqualified PwC audit opinion for both 2024 and 2025

Risk factors: Losses on long-dated fixed-price solar PPAs (DKK 151m in 2025), Execution delays in batteries, EV charging, and trading, 99% revenue concentration in Denmark, Rising financial costs (DKK 113m in 2025), Declining solvency trend (46.3% → 41.9% → 37.5%), Grid capacity constraints in TREFOR El-net, Groundwater contamination risk requiring water capex, Cyber threat rated 'very high' for critical infrastructure, EBIT loss of DKK -150m in 2025

Revenue by geography

Denmark: 99.1%
United Kingdom: 0.7%
Germany: 0.1%

Revenue by product/service

Commercial activities (electricity retail, broadband, EV charging, batteries, trading, software): 63.3%
Regulated activities (electricity distribution, district heating, water): 36.7%

Workforce by country

Denmark: 650
Lithuania: 1

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