In the financial year 2014, the Monjasa Group generated a total revenue of DKK 14.2 billion (USD 2.1 billion) compared to DKK 11.9 billion (USD 1.8 billion) in 2013.
This equals growth in revenue of 16%, which is satisfactory to the Group management. The growth is primarily a result of increased global sale of oil products measured in metric tons.
Despite tough market conditions, the Group presents an improved gross operating profit of DKK 463 million (USD 68 million) and sees net profit of DKK 164 million (USD 24 million).
Further consolidating the overall business platform
Overall, the financial year 2014 was characterised by strong competition in some of the Group core markets and a global shipping market still struggling hard to recover from the financial crisis. Despite tough market conditions, the Group presents an improved gross operating profit of DKK 463 million (USD 68 million) and sees net profit of DKK 164 million (USD 24 million).
The Group thereby further consolidates the overall business platform and maintains its top quartile position among the most solid bunker companies with an equity ratio of over 30.
150 new colleagues joined Monjasa
Monjasa Group experienced a 20% global increase in total number of employees in 2014. By year-end, the Group employed a total of 583 employees throughout the oil trading, tanker and offshore operations.
A main driver behind this positive development is the increasing employment of bunker traders, maritime experts and administrative staff. In particular, several new specialist functions e.g. within compliance were introduced at Monjasa Group’s global offices. Besides a growing pool of human resources, Monjasa also increased the fleet of bunker tankers to 28 compared to 24 in 2013.
Performance expectations for 2015
Looking ahead, Monjasa Group expects continuing highly competitive market conditions throughout 2015. However, the Group management remains positive and foresees another year of investments in expanding global shipping and oil trading activities.