Metroselskabet I/S Due Diligence

Run due diligence on Metroselskabet I/S: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by City of Copenhagen and the Danish State (via the Ministry of Transport) (Denmark) · metroselskabet.dk · 24 vendors

Metroselskabet is a Danish public transport, development, and construction company responsible for operating and expanding the Copenhagen Metro network. It oversees four metro lines carrying approximately 135 million passengers annually, running 24/7 with trains departing as frequently as every 95 seconds during peak hours. The company also serves as an experienced developer of major infrastructure projects, including the construction of the Cityringen (M3), the M4 Sydhavn/Valby extension, and the Hovedstadens Letbane (Capital Region Light Rail).

Resilience scores

Technology vendors

Insights

Last updated 2026-09-13 · revision 12

24 direct vendors, 255 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

4 in-scope frameworks identified; showing 3.

NIS2 (source) — No public evidence

Evidence: https://metroselskabet.dk/da/om-os/om-metroselskabet/

SOC 2 (source) — No public evidence

ISO 27001 (source) — No public evidence

Financials

Three-year financials

Financial Resilience Score: 9/10

Metroselskabet I/S demonstrates very high financial resilience despite reporting structurally negative equity and recurring net losses. The company is jointly owned by the Danish State (~41.7%), the City of Copenhagen (~50%), and the City of Frederiksberg (~8.3%), and benefits from sovereign-backed financing through Danish State re-lending (genudlån) at low rates with implicit/explicit guarantees. This effectively gives the company sovereign-quality credit, eliminating refinancing risk in a way that would be impossible for a typical commercial entity. The negative equity position (multi-billion DKK) is by design under the legislated financial model: heavy upfront debt to build metro infrastructure is repaid over 40–50+ years through fare revenue, owner operating contributions, and property value capture via By & Havn. The economic model is therefore measured against a long-term budget (langtidsbudget) rather than annual profitability. Operating EBIT has trended from negative toward break-even as ridership has recovered post-COVID (130+ million passengers by 2023) and as Cityringen (M3), Nordhavn (M4), and the Sydhavn extension have come into service. Resilience was stress-tested during the COVID-19 ridership collapse, which the company absorbed with no solvency concern. Its monopoly position as the sole metro operator in Copenhagen and the absence of meaningful counterparty risk on the owner side further reinforce its stability. Key risks remain interest rate exposure on the large debt stock (~DKK 25–27 billion), ridership undershooting plan, construction cost overruns on extensions, and political risk on fare regulation.

Key strengths: Sovereign-backed financing via Danish State re-lending (genudlån), Public ownership by Danish State and two municipalities — essentially zero counterparty risk, Monopoly position as sole operator of Copenhagen metro infrastructure, Long-term 40–50+ year economic model absorbs short-term variability, Survived COVID-19 ridership collapse without solvency concern, Growing revenue base from line expansions (M3 Cityringen, M4 Nordhavn, M4 Sydhavn)

Risk factors: Interest rate exposure on large long-term debt stock (~DKK 25–27 billion), Ridership undershooting long-term plan, Construction cost overruns on extensions, Political risk on fare regulation, Structurally negative equity position, High supplier concentration on Metro Service A/S and Hitachi Rail, 100% geographic concentration in Copenhagen/Frederiksberg area

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