OK a.m.b.a.

Denmark · owned by Independent (consumer-owned cooperative) (Denmark) · www.ok.dk · 21 vendors

OK a.m.b.a. is a Danish cooperative energy company offering a wide range of energy products and services to private, business, and public customers. The company operates more than 670 local fuel stations across Denmark and also sells heating oil, electricity, natural gas, and heat pumps. As a consumer-owned cooperative (a.m.b.a. = andelsselskab med begrænset ansvar), it is one of Denmark's largest energy distributors.

Resilience scores

Technology vendors

Services catalogue

1 service in catalogue across 1 category; runs on 21 sub-vendors.

Insights

Last updated 2026-09-13 · revision 7

21 direct vendors, 264 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 6/10

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.

OK a.m.b.a. exhibits a medium level of migration readiness. Opportunities for migration are supported by an existing multi-cloud strategy, with established presences in both Google Cloud Platform (GCP) and Microsoft Azure, providing a foundation for further cloud adoption. The company's strong financial performance (DKK 21,784 million revenue in 2022) suggests adequate funding capacity for significant migration initiatives. Modern mobile and web development capabilities also indicate an agile approach to application development that could facilitate re-platforming or refactoring efforts. However, several challenges impede higher readiness. A major hurdle is the extensive on-premise server infrastructure, comprising over 700 servers, which will require substantial effort and investment to migrate. The applicability of the NIS2 Directive means that any migration must be meticulously planned and executed to ensure continuous compliance with stringent cybersecurity and resilience requirements, adding complexity and potential cost. The 'unknown' vendor lock-in risk for the 28 identified services is a critical factor; high lock-in could significantly impede migration flexibility and increase exit costs. While vendor geographic diversity is present, the actual number of unique vendors is not clear, making a full assessment of vendor lock-in challenging. Additionally, specific data residency requirements are not specified, which could introduce unforeseen constraints during a cloud migration if they exist.

Compliance

10 in-scope frameworks identified; showing 3.

ISO 27001 (source) — Assessment Required

ISO 27001 is the international standard for information security management systems (ISMS). While voluntary, it is highly relevant for OK a.m.b.a. given: (a) the company operates critical energy infrastructure (electricity, gas, oil, EV charging) that is a prime target for cyberattacks; (b) NIS2 compliance (which is mandatory) strongly aligns with ISO 27001 controls and many Danish energy companies use ISO 27001 as a framework for NIS2 compliance; (c) OK processes sensitive personal data (CPR numbers, financial data, location data) for 280,000+ customers; (d) the company has an IT department with dedicated infrastructure and development teams. Risk is rated Medium because no ISO 27001 certification was found publicly, creating uncertainty about the maturity of OK's information security management. The absence of certification does not confirm non-compliance with security best practices, but it does mean there is no independent third-party validation of the ISMS.

Evidence: https://www.ok.dk/om-ok/job-hos-ok/it, https://www.ok.dk/om-ok/job-hos-ok/it/drift-og-infrastruktur, https://www.danak.dk/, https://www.iso.org/isoiec-27001-information-security.html

Danish Energy Regulatory Framework — Partially Compliant

As a major Danish energy supplier, OK a.m.b.a. is subject to comprehensive sector-specific regulation by the Danish Energy Agency (Energistyrelsen) and the Danish Utility Regulator (Forsyningstilsynet). The company explicitly references compliance with the Electricity Supply Act (Elleveringsbekendtgørelsen) in its privacy policy, including MitID validation requirements for electricity agreements and mandatory call recording for outbound sales. Risk is rated High because: (a) energy sector regulation is complex and continuously evolving (green transition, market liberalisation); (b) non-compliance can result in licence revocation, significant fines, and reputational damage; (c) the company operates across multiple regulated energy markets (electricity, gas, heating oil, EV charging); (d) the Danish Utility Regulator actively monitors compliance. The 'Partially Compliant' status reflects that while OK demonstrates awareness of key regulatory requirements (MitID, call recording), full compliance across all regulatory obligations cannot be confirmed from public sources alone.

Evidence: https://www.ok.dk/persondatapolitik, https://www.ok.dk/om-ok/hvem-er-ok, https://www.energistyrelsen.dk/, https://www.forsyningstilsynet.dk/, https://www.retsinformation.dk/eli/lta/2020/119

Danish Insurance Regulatory Framework — Assessment Required

OK a.m.b.a. offers a range of insurance products (home insurance, contents insurance, car insurance, travel insurance, pet insurance, accident insurance, trailer insurance, motorcycle insurance) to private customers. This places OK within the scope of Danish insurance regulation overseen by the Danish Financial Supervisory Authority (Finanstilsynet). Risk is rated Medium because: (a) insurance distribution requires authorisation under the Insurance Distribution Directive (IDD, 2016/97/EU) as transposed in Denmark; (b) OK must comply with conduct of business rules, product governance, and disclosure requirements; (c) no Finanstilsynet authorisation details or IDD compliance disclosures were found publicly. It is likely OK distributes insurance as an agent/intermediary rather than as an insurer, but this requires confirmation.

Evidence: https://www.ok.dk/privat/produkter/forsikringer, https://www.finanstilsynet.dk/, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32016L0097, https://www.retsinformation.dk/

Financials

Three-year financials

Financial Resilience Score: 7/10

OK a.m.b.a. maintains a strong financial foundation with equity of DKK 7.37bn at end-2024 and a diversified business model spanning fuel retail, EV charging, electricity supply, smart meters (Kamstrup), grocery retail (Coop), and North Sea oil interests. The cooperative ownership structure provides patient, long-term capital and equity has more than doubled from DKK 3.5bn in 2020 to DKK 7.4bn in 2024, reflecting substantial retained earnings without dividend leakage. Net profit reached a record DKK 1.52bn in 2024, boosted by a negative goodwill gain on the Coop acquisition. However, the 2024 Coop Danmark acquisition materially changed the risk profile. The group solvency ratio dropped from 56.8% to 33.4%, and long-term debt jumped from DKK 57m to DKK 4,028m as Coop's mortgage/credit debts were consolidated. Coop has had years of poor financial results and is described as 'still some distance from realizing its potential,' requiring significant turnaround investment. The parent-level solvency remains strong at 57.4%, providing a cushion. Structural risks include the secular decline in fuel volumes (down from 1,778k m³/t in 2021 to 1,627k in 2024) as EVs take over, requiring heavy capex for EV charging infrastructure (target: 6,000 public chargers by end-2026). Kamstrup saw a 2024 slowdown due to customer destocking after a record 2023. Overall, OK's diversification, market leadership in Denmark, and strong parent balance sheet support resilience, but the Coop turnaround and energy transition capex introduce meaningful medium-term risk.

Key strengths: Strong equity base of DKK 7.37bn (2024), more than doubled since 2020, Diversified revenue streams across fuel, EV charging, electricity, meters, grocery, and oil, Cooperative ownership provides patient long-term capital, Danish market leadership: >680 stations, >5,600 EV chargers, ~280,000 electricity customers, Kamstrup provides international revenue diversification, Parent solvency ratio remains robust at 57.4%, Record net profit of DKK 1.52bn in 2024, Danoil North Sea oil interests generate cash for green transition

Risk factors: Coop acquisition drove group solvency down from 56.8% to 33.4%, Coop Danmark has weak underlying profitability requiring turnaround investment, Long-term debt jumped from DKK 57m to DKK 4,028m at group level in 2024, Structural decline in fuel volumes (~2%/year) as EVs replace ICE vehicles, Kamstrup 2024 revenue/earnings declined due to customer destocking, Heavy capex needed for EV charging rollout (6,000 chargers by 2026), Commodity price volatility (oil, gas, electricity), EBIT declined 38.3% in 2024 despite revenue nearly doubling

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