Kredsløb Due Diligence

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

Denmark · owned by Aarhus Kommune (Denmark) · kredslob.dk · 9 vendors

Kredsløb is a Danish utility company that provides district heating (fjernvarme), waste collection, and recycling services to residents and businesses. The company offers stable and energy-efficient district heating solutions, large-item waste pickup, and guidance on waste sorting. It operates as a public utility serving communities in Denmark.

Resilience scores

Technology vendors

Insights

Last updated 2026-09-13 · revision 2

9 direct vendors, 163 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

9 in-scope frameworks identified; showing 3.

GDPR (source) — Evidence found

Kredsløb is established in Denmark (EU) and processes personal data of its customers, employees, and website visitors, making GDPR directly applicable.

Evidence: https://www.kredslob.dk/om-os/privatlivspolitik, https://www.kredslob.dk/media/kkfjieh3/kredsloeb-holding-aarsrapport-2025.pdf

EU Taxonomy Regulation — No public evidence

Kredsløb is a large company (turnover >€40M, >250 employees) and therefore subject to the Corporate Sustainability Reporting Directive (CSRD), which mandates reporting against the EU Taxonomy.

Evidence: https://www.kredslob.dk/om-os/aarsrapporter-2025, https://www.kredslob.dk/om-os/aarsrapporter-2025/aarsregnskaber-2023, https://www.kredslob.dk/om-os/csr-hos-kredsloeb, https://www.kredslob.dk/om-os/aarsrapporter-2025/aarsrapporter-2022, https://www.kredslob.dk/om-os/aarsrapporter-2025/aarsregnskaber-2021, https://fsc.org/en/blog/eu-taxonomy

Elforsyningsloven — Evidence found

Kredsløb operates waste-to-energy plants that generate electricity, making it a producer under the Danish Electricity Supply Act. The company is mentioned in legislative consultations regarding the act.

Evidence: https://www.retsinformation.dk/eli/lta/2003/151, https://www.retsinformation.dk/eli/lta/1999/375, https://www.retsinformation.dk/api/pdf/255301, https://www.retsinformation.dk/api/pdf/248376, https://www.kredslob.dk/om-os/aarsrapporter-2025/aarsregnskaber-2023

Financials

Three-year financials

Financial Resilience Score: 8/10

Kredsløb benefits from very high structural resilience due to its ownership by Aarhus Kommune (Municipality of Aarhus), which provides implicit municipal backing and access to low-cost financing typical of Danish 'forsyningsselskaber' (utility companies). Its core activities—household waste collection, recycling, district cooling, and waste-to-energy at the Lisbjerg plant—are regulated, near-monopoly operations with tariff-based revenue models, delivering highly predictable cash flows. Operating under the Danish 'hvile-i-sig-selv' (break-even) principle limits profitability but also sharply limits downside risk, since tariffs are calibrated to cover costs. On the other hand, the break-even regulatory model means Kredsløb accumulates limited retained earnings, leaving a thin buffer for shocks. The company faces meaningful capex pressure from the green transition, particularly a flagship CO₂-capture (CCS) project at the Lisbjerg incinerator that could require multi-billion DKK investment and likely debt financing. Regulatory reform in the Danish waste sector (2020 political agreement) is opening recyclables to private competition, and revenue from electricity/heat sales is exposed to volatile Nordic power prices. Political risk from single-municipality ownership adds another layer of uncertainty, though overall the credit profile remains very strong.

Key strengths: Municipal ownership by Aarhus Kommune providing implicit backing, Regulated natural-monopoly activities with stable tariff-based revenue, Long-term infrastructure assets generating predictable cash flows, Operates under Danish 'hvile-i-sig-selv' (break-even) principle limiting downside, Diversified utility portfolio: waste, recycling, district cooling, biogas, waste-to-energy

Risk factors: Regulatory risk from Danish waste-sector reform opening recyclables to private competition, Significant capex burden for CO₂ capture (CCS) at Lisbjerg incinerator, Exposure to volatile Nordic power prices via electricity/heat sales, Political risk from single-municipality ownership, Break-even model limits retained earnings buffer

Revenue by geography

Revenue by product/service

Workforce by country

Signed-in users can see whether their own company is exposed to this vendor's disruption, plus the full sub-vendor list and country breakdowns, every in-scope compliance framework plus gaps and next steps, and alerts when any of it changes.

View the full interactive report