Fehmarn Belt Contractors I/S, responsible for the excavation work and land reclamation in connection with the Fehmarn Belt link, ended 2024 with a profit of 100.6 million kroner. This is shown in the newly published annual report.
Thus, the company doubled its profit compared to the previous year, where the bottom line was 50.3 million kroner.
However, turnover fell to 1.08 billion kroner compared to 1.37 billion the previous year - and almost double that in 2022. According to management, the decline is partly due to the completion of several major parts of the contract and a general shift in the project's nature.
Built-up equity
The company has built up equity of 150.9 million kroner, which is equally distributed between the two owners: Boskalis Denmark ApS and Van Oord DMC ApS. No external capital has been injected - the equity comes solely from retained profits.
In 2024, a temporary dam was removed on the German side, and preparations for the final stone protection over the first tunnel element were completed. The work was delayed, but the project team assesses that it succeeded in limiting the impact on the overall schedule.
Focus on clean-up in 2025
In 2025, the temporary dams at Lolland and Fehmarn will be removed, and there will be a clean-up on land. Over the summer, roads and access conditions will be completed.
FBC reports that the project has been challenging and characterised by both technical adjustments and delays, but that the work has generally followed the plan. The risk of further delays is still considered to be real.
No specific result expectation for 2025 is provided.
