Top 15: Companies with the Largest Deficits

Several companies in Lolland-Falster and the surrounding area have experienced significant financial challenges in recent fiscal years, with large deficits and, in several cases, negative equity.

From large construction projects to traditional manufacturing companies, many firms are struggling with liquidity, capital needs, and changing market conditions.

The largest deficit is found at Storstroem Bridge Joint Venture I/S, which is responsible for the construction of the new Storstrøm Bridge. In 2023, the net result was -353.9 million DKK, and the year before, the deficit was a staggering -1.4 billion DKK.

There are also significant deficits in the agricultural sector. Sofiehøj Landbrug ApS in Nysted has a deficit of -34.7 million DKK and relies on financial support from Euro Economic Commercial Properties ApS to ensure continued operations.

In the industry, Hardi International A/S in Nørre Alslev recorded a deficit of -17.9 million DKK. The company, which produces agricultural machinery, has carried out a capital reduction of 50 million DKK in an attempt to cover previous years' deficits.

Here is a list of those who have delivered the largest deficit after tax.

Storstroem Bridge Joint Venture I/S, Vordingborg, -353.9 million DKK

Storstroem Bridge Joint Venture I/S is a consortium working on the construction of the new Storstrøm Bridge. The project is a significant part of the infrastructure connecting Zealand and Falster, but the financial costs have led to a large deficit in recent financial years. In 2023, the net result was -353.9 million DKK, and in 2022 it was even worse with -1.4 billion DKK. If the owners Itenera S.p.a. had not injected money into the project, the equity would have been negative by a corresponding amount. Itinera S.p.A. has issued a financial support statement to ensure liquidity. Additionally, the company has received a liquidity bridge of 700 million DKK from the Danish Road Directorate, which is paid out in line with the project's milestones. When the bridge is completed, there will be an arbitration case of epic proportions. SBJV's claim amounts to 3.4 billion DKK. Equity: 0 DKK.

Sofiehøj Landbrug ApS, Nysted, -34.7 million DKK

Sofiehøj Landbrug ApS operates agriculture through leasing properties and participates in Aalholm Slot I/S. Sofiehøj Landbrug ApS has significant debt obligations and relies on credit facilities to ensure continued operations. The owner of Euro Economic Commercial Properties ApS has committed to providing additional financing. Management considers the result as expected. Equity: -39.9 million DKK.

Hardi International A/S, Nørre Alslev, -17.9 million DKK

Hardi International A/S develops and manufactures agricultural and forestry machinery specializing in spraying equipment. The company is part of the French Exel Industries group and is headquartered in Nørre Alslev. In September 2024, Hardi carried out a capital reduction of 50 million DKK to cover previous years' losses. The company has experienced changes in management, and Johannes Charles Wilhelmus Meulenkamp assumed the role of new CEO in 2024. The board primarily consists of representatives from the parent company in France. Equity: 59.5 million DKK.

TKH Airport Solutions A/S, Nykøbing F, -17.4 million DKK

TKH Airport Solutions A/S produces and develops advanced solutions for airport infrastructure, including innovative LED lighting systems for runways. The company is headquartered in Nykøbing F and is part of the Dutch TKH Group N.V., which owns 100 percent of the company. The company has undergone a number of organizational changes and has a board and management team that mainly consists of representatives from the parent company.

Valeos Pharma A/S, Holeby, -16.5 million DKK

Valeos Pharma A/S is a pharmaceutical company based in Holeby, specializing in the production of pharmaceutical raw materials, including medical cannabis. The company was established in 2018 and has undergone several capital increases to ensure continued operations. In 2024, the company carried out a series of capital increases through debt conversion and cash contributions to strengthen its financial situation. Valeos Pharma A/S is primarily owned by MSG Capital ApS and Kleingut ApS. Equity: -8.4 million DKK.

Stofo Ejendomme ApS, Bogø By, -15.8 million DKK

Stofo Ejendomme ApS manages and operates real estate with a focus on commercial leasing. The company was established in 2021 and is owned by Storstrøm Forsikring G/S. According to the management report, the deficit is primarily due to investments in the property portfolio and rising financing costs. The market for commercial properties has also been challenging, which has negatively impacted occupancy rates and earnings. Management is working to attract new tenants and optimize operations to strengthen the financial situation going forward. Equity: -16.6 million DKK.

Aalholm Slot I/S, Nysted, -12.1 million DKK

Aalholm Slot I/S operates agriculture and forestry as well as activities related to the preservation and development of the historic Aalholm Castle in Nysted. The company is owned by Eskehave Landbrug ApS and Sofiehøj Landbrug ApS, both of which are associated with Aalholm Estate. According to the latest financial statements, the company has a deficit of -12.1 million DKK, but equity of 10 million DKK. Management continues to work on developing the property and optimizing operations. Equity: 10 million DKK.

Ejendomsselskabet 2024 A/S, Maribo, -11.1 million DKK

Ejendomsselskabet 2024 A/S is engaged in property development and management and is located at Suhrs Gade 6, Maribo. The company primarily focuses on investment in real estate and related activities at the discretion of the board. According to the latest financial statements, the deficit is due to increased renovation expenses and market challenges in property rental. Equity: -2.1 million DKK.

SEIMEI ApS, Nakskov, -9.6 million DKK

SEIMEI ApS was a company focused on the production, sale, and marketing of beverages and wholesale trade in food products. The company was founded in 1983 and operated under several names, including Planteriet ApS. The company was declared bankrupt in October 2021 by the Bankruptcy Court in Nykøbing Falster, and the bankruptcy proceedings were concluded in October 2023, resulting in the dissolution of the company. Equity: 5.1 million DKK.

WinLeasing ApS, Kalvehave, -8.7 million DKK

WinLeasing ApS was engaged in the rental and leasing of cars and light motor vehicles. The company was founded in 2015 and was located in Kalvehave. The company was declared bankrupt by the Bankruptcy Court in Nykøbing Falster on July 3, 2023. The bankruptcy marked the end of the company's activities, and the financial situation was characterized by a lack of growth and increasing financing costs. Equity: -5.1 million DKK.

Frederiksdal Kirsebærvin A/S, Harpelunde, -6.6 million DKK

Frederiksdal Kirsebærvin A/S is a specialized producer of cherry wine and other fruit-based beverages. The company, located at Frederiksdalsvej 30 in Harpelunde, was founded in 2010 and has since built a strong brand within niche markets both in Denmark and abroad. The company is primarily owned by Harald Oluf Jonsen Krabbe and is operated with a focus on quality and craftsmanship. The latest financial statement shows a loss of -6.6 million DKK, while equity is -5.8 million DKK. The loss is partly due to investments in product development and export strategies, which are expected to strengthen the market position in the long term. Equity: -5.8 million DKK.

Apollo Wind Energy A/S, Vordingborg, -6.3 million DKK

Apollo Wind Energy A/S is an energy company focused on the production of electricity from renewable energy sources. The company was founded in 1988 and is headquartered at Klitrosevej 1 in Vordingborg. The company is involved in trading, production, and investment in green energy. The latest financial statement shows a deficit of -6.3 million DKK, while equity is at 56.2 million DKK. The company has undergone several capital changes in recent years, most recently a capital reduction in 2022. Apollo Wind Energy A/S is primarily owned by Apollo Group 1 A/S and Lisefo A/S. Equity: 56.2 million DKK.

Otto Jensen, Søllested Maskinforretning A/S, Søllested, -6.1 million DKK

Otto Jensen, Søllested Maskinforretning A/S, is engaged in the trade, repair, and service of agricultural machinery and accessories. The company was founded in 1983 and is located at Langsøgårdvej 7 in Søllested. The company is 100 percent owned by Torben Kepp Jensen Holding ApS and has been an important player in the wholesale trade of agricultural machinery. According to the financial statement, the deficit is primarily due to rising operating costs and declining demand in the industry. Management is working on strategic initiatives to stabilize the economy and increase profitability. Equity: 3.3 million DKK.

Floating Power Plant A/S, Bandholm, -6 million DKK

Floating Power Plant A/S is an innovative company developing floating platforms for renewable energy production, including combinations of wind and wave energy. The company, founded in 2004, is located at Birketvej 13 in Bandholm and operates in research and experimental development in natural sciences and engineering. The company has completed several capital increases to support its development and test projects. Equity: 40.8 million DKK.

BAYO.S International ApS, Nykøbing F, -5.5 million DKK

BAYO.S International ApS is a company engaged in the wholesale trade of wood, building materials, and sanitary articles. The company was established in 2021 and is headquartered in Nykøbing Falster. BAYO.S is primarily owned by Samson Gruppen Holding ApS and has undergone several capital changes to strengthen its financial situation. The board has been subject to several changes, and the company is strategically working to consolidate its market position. The latest financial statements show that the company continues to face economic challenges. Equity: -2.7 million DKK.