Despite geopolitical unrest, inflation and volatile energy prices, the family owned Selfinvest and its operating company USTC achieved their best financial year to date, recording an EBT of just over DKK 2.9 billion.
The Østergaard family conglomerate presents this record result which is more than a doubling of last year’s EBT of DKK 1.2 billion. The Group’s revenue also grew by 25% from DKK 120 billion to DKK 150 billion.
Four USTC companies each contributed with an EBT of more than DKK 200 million, while a fifth landed just below. A clear underscoring of the Group’s strategy to have several strong divisions make up its portfolio of companies.
The Group’s equity now stands at over DKK 8 billion, and it employs more than 4,500 people across 165 offices in 40 countries.
Growth was driven by positive results across USTC’s seven companies operating within energy, shipping, logistics, environment, recycling, risk management, car activities, and IT.
“If I were to summarize in one word why Selfinvest and USTC have delivered such impressive results, I would say it’s due to our ability to be agile. Our companies and employees have an outstanding ability to navigate through unforeseen challenges such as geopolitical events, extreme price fluctuations, and a surging inflation. That is of course an accomplishment that we as owners are very proud of,” says Torben Østergaard-Nielsen, working Chairman, founder, and co-owner.
In addition to a strong focus on building and developing the companies in the Group’s portfolio, USTC’s growth strategy is based on acquiring companies that operate in the industries where the Group possesses knowledge and insights, and where synergies to the remaining companies can be found.
“For many years, Bunker Holding has been the dominant company in USTC, and they continue to be the primary contributor to our record result. But over the past few years we have built a robust conglomerate that stands on several pillars. That Bunker Holding, SDK FREJA, Uni-Tankers, and CM Biomass can all deliver an EBT of over DKK 200 million each is solid proof that our strategy is a success,” says Nina Østergaard Borris, CEO and co-owner of USTC. During recent years, USTC has acquired notable Danish companies such as FREJA Transport & Logistics, CM Biomass, and Nordic Waste and DSH Recycling. All companies are now integrated into the USTC Group and have contributed significantly to this year’s financial result.