EnergyWatch

Terrible result at Babcock Vølund

Denmark's Vølund booked a huge deficit last year. Major issues at the waste-to-energy plant in Copenhagen, Amager Bakke, are weighing down the plant producer which is in need of life support from its US owner.

Photo: Pressefoto

Danish power plant manufacturer B&W Vølund had a disappointing year in 2016. Meanwhile, CEO John Veje Olesen and many other executives were fired over the course of last year. That the company has faced troubles is not news, but the extent of the damage could surprise many.

Last year, a net loss was realized of no less than DKK 735 million (EUR 98.8 million). A result which means a negative cash flow for Babcock Vølund of DKK 604 million and a need for help from the company's US owner, Babcock & Wilcox.

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