Esvagt reports higher profit but prepares for tough 2020

Esvagt books a profit of DKK 14.1 million for 2019 and raised its revenue to above DKK 1 billion. The ongoing crisis prompts the shipping line to expect a steeper decline in oil and gas revenue.

Photo: PR/Esvagt

Esvagt saw improvement last year, when both the wind market and higher activity within oil and gas had a positive effect on the Danish offshore carrier.

The company reports a profit of DKK 14.1 million (USD 2.08 million) compared to DKK 1 million the year prior. Revenue increased to more than DKK 1 billion against roughly DKK 986 million in 2018.

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