Nordic RCC A/S Due Diligence

Run due diligence on Nordic RCC A/S: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by Independent (Denmark) · nordic-rcc.net · 17 vendors

Nordic Regional Coordination Centre (Nordic RCC) is an independent company that provides regional coordination services to the four Nordic electricity Transmission System Operators (TSOs) — Statnett (Norway), Svenska Kraftnät (Sweden), Fingrid (Finland), and Energinet (Denmark). It supports cross-border operational security of the Nordic power system around the clock and is one of six EU-mandated Regional Coordination Centres in Europe. Headquartered in Copenhagen, it plays a key role in enabling the green energy transition and the European internal energy market.

Resilience scores

Technology vendors

Insights

Last updated 2026-09-13 · revision 20

17 direct vendors, 166 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

10 in-scope frameworks identified; showing 3.

Danish Financial Statements Act — Evidence found

Evidence: https://nordic-rcc.net/publication-of-nordic-rcc-annual-report-2025-and-activity-report-2025/, https://nordic-rcc.net/about/annual-reports/, https://nordic-rcc.net/privacy-policy/

SOC 2 (source) — No public evidence

Evidence: https://nordic-rcc.net/about/, https://nordic-rcc.net/publication-of-nordic-rcc-annual-report-2025-and-activity-report-2025/

ISO 27001 (source) — No public evidence

Evidence: https://nordic-rcc.net/publication-of-nordic-rcc-annual-report-2025-and-activity-report-2025/, https://nordic-rcc.net/about/, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32024R1366, https://www.iso.org/standard/27001

Financials

Three-year financials

Financial Resilience Score: 8/10

Nordic RCC A/S demonstrates exceptionally strong financial resilience for a young company, underpinned by a highly stable and regulatorily protected business model. Revenue is generated under a cost-plus contract with a 5% mark-up on costs, billed to its four state-owned TSO shareholders (Energinet, Statnett, Fingrid, Svenska Kraftnät). This structure virtually eliminates market and pricing risk while guaranteeing a small positive margin. The company's existence and tasks are mandated by EU Regulation 2019/943, providing a regulatory moat with effectively no competitive threat. The balance sheet is very strong, with equity of DKK 352M representing approximately 80% of total assets (DKK 440M), no interest-bearing external debt beyond lease liabilities of DKK 29M, and DKK 114.7M in cash. Operating cash flow was DKK 62.8M in 2025 (DKK 110.8M in 2024). Credit risk is minimal given that customers are effectively sovereign entities, and no impairment has been recognised on trade receivables. EY issued an unqualified audit opinion for 2025. Key risks include extreme customer concentration (93% of revenue from the four TSO owners), heavy dependence on a single intangible asset (NorCap platform, 51% of total assets), and cybersecurity exposure as critical energy infrastructure under NIS2. However, these are largely mitigated by the cost-plus contract structure and the regulatory framework. The company has been profitable every year since its start-up loss in 2022.

Key strengths: Cost-plus contract with 5% mark-up guarantees positive margin, Four state-owned TSO shareholders as customers (ultra-low credit risk), Equity ratio of ~80% (DKK 352M equity vs DKK 440M total assets), DKK 114.7M cash position at year-end 2025, Regulatory moat under EU Regulation 2019/943, Unqualified EY audit opinion, Profitable every year since 2023 (post start-up phase), Strong revenue growth: 3.7x in three years (DKK 97.7M to DKK 364.2M)

Risk factors: Customer concentration: 93% of revenue from four TSO shareholders, Single-asset concentration: NorCap platform is 51% of total assets, Cybersecurity/critical infrastructure exposure under elevated geopolitical threat, Heavy reliance on consultants (DKK 112.2M in 2025, exceeding wages of DKK 84.6M), Retained earnings deficit of DKK -95M from historical R&D reserve treatment, Rapid headcount growth (44 to 111 in three years) creates execution risk, Technological obsolescence risk on NorCap platform over longer term

Revenue by geography

Revenue by product/service

Workforce by country

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