Skensved Vandværk A.m.b.a. Due Diligence

Run due diligence on Skensved Vandværk A.m.b.a.: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by Independent (consumer-owned cooperative) (Denmark) · www.skensvedvand.dk · 17 vendors

Skensved Vandværk is a Danish consumer-owned cooperative water utility (A.m.b.a.) originally founded on July 15, 1937 as 'Andelsselskabet Lille Skensved Vandværk'. Its purpose is to supply properties in the Lille Skensved area (near Køge, Zealand) with clean and sufficient drinking water at the lowest possible operating cost, in accordance with Danish water supply law. It converted to its current cooperative limited liability structure (A.m.b.a.) on January 1, 2012.

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Last updated 2026-09-13

17 direct vendors, 146 subvendors

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Compliance

3 in-scope frameworks identified; showing 3.

GDPR (source) — Evidence found

Evidence: https://www.skensvedvand.dk/Information/Persondataforordning, https://www.skensvedvand.dk/Portals/129/Persondataforordning.pdf?ver=2018-05-30-194405-457

NIS2 (source) — No public evidence

ISO 27001 (source) — No public evidence

Financials

Three-year financials

Financial Resilience Score: 8/10

Lille Skensved Vandværk A.m.b.a. demonstrates exceptional balance sheet strength for a micro-utility, with an equity ratio of approximately 92.8% and effectively zero long-term debt. Total equity of DKK 20.5m dwarfs total liabilities of DKK 1.6m, and the debt-to-equity ratio of just 0.08x confirms the cooperative is almost entirely self-financed through accumulated retained surpluses. This capital structure provides a substantial buffer against financial stress and means the entity has no interest rate or refinancing risk from external borrowing. The non-profit A.m.b.a. structure ensures all surpluses are retained within the entity rather than distributed, further reinforcing the equity base year on year. Operating performance is consistently strong, with EBIT margins of 30.7% in FY 2023 and 34.0% in FY 2024, which are high for a utility of any size. Revenue grew 13.6% year-on-year and exceeded the board's own budget by approximately 25% in 2024, indicating conservative financial planning and a healthy margin of safety. The cooperative benefits from a monopoly service area, a regulated tariff framework under Danish water sector legislation, and published tariff sheets through 2026, all of which provide strong revenue predictability and protection from competitive disruption. Active capital reinvestment — with the pipeline network book value growing by DKK 1.5m in a single year — signals commitment to long-term infrastructure integrity. The primary financial vulnerabilities relate to scale and operational concentration. With annual revenue of only approximately DKK 3.4m, the cooperative has limited capacity to absorb large unexpected capital expenditures such as major pipeline failures or contamination remediation. Cash declined 23.9% in 2024 to DKK 963,791, and trade payables surged 582% to DKK 1.27m, likely reflecting year-end capital works invoices. Distribution costs jumped 67% in 2024, potentially linked to a documented pump failure, raising questions about recurring maintenance cost inflation. The paid workforce of approximately one to two persons creates significant key-person dependency risk. Longer-term structural risks include climate and groundwater vulnerability, increasing regulatory compliance costs (PFAS monitoring, climate adaptation), and the absence of a demonstrated track record of accessing external financing for large-scale infrastructure renewal. These risks are partially mitigated by the strong equity cushion, the regulated operating environment, and the cooperative's non-profit mandate which aligns governance incentives with long-term service sustainability rather than short-term profit extraction.

Key strengths: Equity ratio of ~92.8% — essentially debt-free balance sheet, Monopoly service area with no competitive threat to customer base, Regulated tariff framework under Danish Vandsektorloven providing revenue predictability, EBIT margins of 30–34% across disclosed years, Non-profit A.m.b.a. structure ensures all surpluses are retained and reinvested, Active pipeline network investment (DKK +1.5m in ledningsnet in FY 2024), Revenue exceeded board-approved budget by ~25% in FY 2024, Published tariff sheets through 2026 providing forward revenue visibility, Audited accounts prepared by registered state-authorised auditor (Addere Revision)

Risk factors: Very small scale (~DKK 3.4m revenue) limits capacity to absorb large unexpected capex, Cash declined 23.9% in FY 2024 to DKK 963,791 due to capital spending, Trade payables surged 582% in FY 2024 (DKK 187k to DKK 1,274k) — warrants monitoring, Distribution costs rose 67% in FY 2024, potentially linked to documented pump failure on Ejbyvej/Assendrup, Paid workforce of approximately 1–2 persons creates key-person dependency risk, No demonstrated track record of accessing external financing for large infrastructure projects, Climate and groundwater risk — dependency on local groundwater abstraction, Increasing regulatory compliance costs (PFAS, climate adaptation) disproportionately burdensome for small operators, Volunteer board governance introduces succession and continuity risk

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