EnergiData kicks off to a great start with a new growth plan and delivers yet another record year, with 40% growth in 2023
Financial Statement, April 2024
At EnergiData, we look back on a fantastic 2023 – characterized by growth, investments, change, and transformation. In a slightly broader context, we started the year by implementing a new growth strategy, which has shaped the development and efforts in key business areas of the company and provided us with a new guiding foundation to meet future demands on us as a company and our responsibility as a workplace.
As a result, EnergiData concludes yet another record year, with a 40% revenue growth – while managing to maintain a decent profit margin. Thus, we continue the positive growth we have experienced in recent years, where in just two years we have delivered a total growth of 78%.
These are impressive numbers, which we can only be extremely pleased with. The transformation of EnergiData into a modern, Danish, and international cleantech company with global growth ambitions is underway. It is progressing rapidly, with progress both domestically and internationally. It has been a busy and changing year, and employees have had to deal with growing pains and many changes. They have handled it incredibly well, and I would like to thank them for that.
Morten Dysted Dahl
CEO, EnergiData
Internationally, we have expanded our partner network with new partners joining our white-label solution in the Nordic countries and DACH, as well as new partnerships within installation and technology. At the same time, we have expanded our business and activities in Germany with an expanded organization and new business areas. An investment that is expected to show positive results in the years to come.
Investments in our technology strengthen our position. A strategic goal of being a leading player and partner in the market for digital energy management requires constant and high levels of innovation and development of our technology. An ambition that is followed up by investments to strengthen both development capacity and platform. In 2023, we have, among other things, upgraded our EMS-based carbon accounting to, as far as possible, adapt it to customers’ needs for compliance and reporting in the climate & environment area, with adjustments to the new CSRD EU directive as a particular focus area.
Our customers are frontrunners in energy efficiency through digitalization, where, for example, municipalities are at the forefront of the digital efficiency of their energy-related areas. Municipalities are collectively Denmark’s largest building owners, where in 2023 we achieved a market share of 25.5%. Every 4th municipality today utilizes MinEnergi2 for their daily monitoring, operation, and optimization of energy consumption across their building portfolio – with a savings result ranging between 10-30%. It’s a trust we’re very proud of.
Our strong position in our Danish home market is a secure and important foundation for our international efforts and reliability.
Organizational growth required an expansion of the premises at our headquarters in Køge. After a period of strong growth for EnergiData, it became necessary in 2023 to expand with new square meters. In December, we inaugurated our new extension, with space for 30-40 new employees.
The next step in the company’s long-term growth plan involves significant investments in 2024 in the key elements of the strategic plan. This includes our technology platform, which with an ambitious roadmap is intended to bring MinEnergi2 into the innovation elite and make our EMS-based carbon accounting a preferred solution for corporate sustainability reporting. Also on the commercial side, we are expanding as part of our internationalization, including further development of our partner business area, as well as our organization in Duisburg, Germany.