NFS A/S

Denmark · www.nfs.as · 11 vendors

N.F.S. A/S, also known as Nordic Fruit Supply, is a Danish company specializing in the wholesale of fruits and vegetables. It operates as a specialized sourcing and logistics partner for fresh produce across Denmark and major European logistics corridors. The company focuses on cross-border sourcing coordination, quality compliance support, and flexible delivery planning for retailers and wholesalers.

Resilience scores

Technology vendors

Services catalogue

1 service in catalogue across 1 category; runs on 11 sub-vendors.

Insights

Last updated 2026-04-15 · revision 2

11 direct vendors, 146 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.

NFS A/S demonstrates low-to-medium migration readiness, scoring 35. The internal tech stack, including WordPress and reliance on third-party platforms like AffaldOnline and MinForsyning, does not explicitly indicate a cloud-native, containerized, or microservices architecture, which typically simplifies migration. This suggests a more traditional setup that could require significant re-platforming efforts. Critical information gaps exist regarding financial stability (which impacts the ability to fund a migration), regulatory environment, and data residency requirements. These unknowns pose substantial risks and potential complexities for any migration initiative. The vendor relationship data is contradictory, stating 'Total Vendors: 0' but also listing 'Total Services: 18' and 'Vendor Geographic Diversity: 6 unique countries.' Assuming actual vendor relationships exist, the 'Vendor Lock-in Risk: Unknown' is a significant concern. The unknown number of vendors for 18 services makes it difficult to assess the extent of potential vendor lock-in, which could complicate or restrict migration options. While geographic diversity in vendors can be positive for resilience, it might introduce additional contractual and logistical complexities during a migration.

Compliance

3 in-scope frameworks identified; showing 3.

GDPR (source) — Assessment Required

GDPR is mandatory for all EU-based companies processing personal data. As a Danish utility company with 19,000+ customers, NFS processes extensive personal data (customer information, billing data, consumption data, employee data). Non-compliance can result in fines up to 4% of annual turnover or €20M. High risk due to large customer base and sensitive utility consumption data. Company has privacy policy indicating GDPR awareness, but compliance status requires detailed assessment.

Evidence: https://www.nfs.as/om-os/privatlivspolitik/

NIS2 (source) — Assessment Required

NIS2 applies with HIGH confidence as NFS operates in multiple covered sectors: waste management (Important Entity), water supply (Essential Entity), and district heating (Essential Entity). Company exceeds size threshold (60 employees vs 50+ requirement). Non-compliance can result in fines up to 2% of annual turnover, management liability, and operational restrictions. High risk due to critical infrastructure role and multiple applicable sectors.

Evidence: https://www.nfs.as

ISO 27001 (source) — Assessment Required

While not legally mandatory, ISO 27001 is highly recommended for utility companies handling critical infrastructure and customer data. NIS2 compliance will require robust information security management systems. Medium risk as it's not mandatory but increasingly expected for critical infrastructure operators.

Financials

Three-year financials

Financial Resilience Score: 7/10

NFS A/S demonstrates strong structural financial resilience underpinned by 100% municipal ownership (Nyborg Kommune), a natural monopoly position across all four service segments, and a regulatory cost-recovery framework that structurally links revenues to costs. The solvency ratio has remained consistently above 59% across all five years reviewed, which is exceptional for a capital-intensive infrastructure utility with total assets exceeding DKK 1.1 billion. Equity has grown every single year from DKK 579.7m (2020) to DKK 668.4m (2024), and the company carries no commercial competition risk in its core markets. However, the underlying operating performance shows meaningful vulnerability. EBIT margin declined sharply from 13.8% in 2020 to 6.6% in 2023 before recovering to 10.3% in 2024, indicating a fixed cost base that is sensitive to revenue fluctuations — particularly weather-driven district heating demand. The 2024 revenue came in below budget (DKK 243.6m vs. DKK 252.6m budgeted) due to warmer-than-normal winters, illustrating this exposure. Net profit figures are significantly distorted by deferred tax adjustments related to an unresolved dispute with the Danish Tax Authority, making underlying profitability harder to assess from headline figures alone. Capital investment has accelerated sharply to DKK 114.4m in 2024 (nearly double the 2020 level), driving long-term borrowings up from DKK 151.6m to DKK 199.4m and reducing cash from DKK 76.4m to DKK 39.5m in a single year. While the strong equity base makes this manageable, rising debt service costs (DKK 7.2m in 2024) and a net under-recovery from customers of DKK 12.3m add near-term financial pressure. Returns on capital are modest (ROIC 2.3% in 2024), consistent with a regulated break-even utility but leaving limited buffer against cost shocks. Overall, the company scores well on balance sheet strength and ownership stability but is constrained by modest profitability, weather sensitivity, an accelerating debt load, and regulatory and tax uncertainties that introduce meaningful earnings volatility.

Key strengths: 100% municipal ownership by Nyborg Kommune with natural monopoly across all service segments, Regulatory cost-recovery (hvile-i-sig-selv) framework providing structural revenue stability, Solvency ratio consistently above 59% — strong for a capital-intensive infrastructure utility, Consistent equity growth every year from DKK 579.7m (2020) to DKK 668.4m (2024), Total assets exceeding DKK 1.1 billion with 90% in fixed infrastructure assets, Unqualified EY audit opinion for 2024, 96% of district heating sourced from industrial waste heat — sustainable and cost-competitive, No commercial competition risk; serves over 19,000 customers in a defined geographic monopoly

Risk factors: EBIT margin declined from 13.8% (2020) to 6.6% (2023) before partial recovery — underlying cost base is relatively fixed and margin-sensitive, Weather/volume sensitivity: district heating revenue directly affected by winter temperatures; 2024 revenue missed budget by ~DKK 9m due to warmer winters, Long-term debt rising sharply: DKK 151.6m (2023) to DKK 199.4m (2024) driven by accelerating capex programme (DKK 114.4m in 2024), Cash reduced from DKK 76.4m to DKK 39.5m in 2024 due to heavy investment programme, Unresolved tax dispute with Skattestyrelsen/Landsskatteretten over asset base values — outcome uncertain despite DKK 42.9m cumulative deferred tax adjustments already recognised, Net under-recovery from customers (underdækning) of DKK 12.3m at end-2024 to be recovered through future tariff adjustments, Regulatory risk: future efficiency benchmarking by Forsyningssekretariatet could compress allowable revenues, Return on invested capital of only 2.3% (2024) leaves limited buffer against cost shocks, 100% geographic concentration in Nyborg municipality — no diversification

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