Nasdaq CopenhagenIFRS · DKK

CENTRICA ENERGY TRADING A/S

CENTRICA ENERGY TRADING A/S is the Danish trading and operating hub of Centrica Energy, a business unit within Centrica plc. It is involved in energy marketing, commodity trading, and the management of physical and financial contracts across European markets, supported by branches, permanent establishments, and subsidiaries in multiple countries.

Ask about the company
Revenue16.0bn DKK
+11.2 %y/y
Operating profit (EBIT)13.9m DKK
−97.9 %y/y
EBIT margin0.1%
−4.4 ppy/y
Net income25.1m DKK
−95.9 %y/y
Free cash flow415m DKK
−39.9 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

010203040bn DKK2021: 14.2 bn DKK2021: EBIT 0.52 bn DKK20212022: 35.7 bn DKK2022: EBIT 5.9 bn DKK20222023: 22.5 bn DKK2023: EBIT 3.2 bn DKK20232024: 14.4 bn DKK2024: EBIT 0.65 bn DKK20242025: 16.0 bn DKK2025: EBIT 0.01 bn DKK202516.00.01
RevenueOperating profit (EBIT)
Ask Clarifo about CENTRICA ENERGY TRADING A/S

Business

Share of revenue
Energy trading40 %

Wholesale buying and selling of gas, power, and related energy commodities across European markets.

Physical contracts25 %

Physical commodity purchase and sales contracts used to source and deliver energy and related products.

Derivative and hedging activities20 %

Financial and physical derivatives used to manage commodity price and market exposure.

Capacity and storage contracts10 %

Gas transport capacity and storage arrangements used to support trading and supply flexibility.

Environmental certificates5 %

Trading and purchase commitments for green certificates and related environmental products.

Customers

The company serves energy market counterparties rather than end consumers, including industrial and commercial buyers, utilities, and other trading firms. It also transacts extensively with group companies, reflecting its role as an internal trading and financing center within the Centrica structure.

Wholesale energy counterparties

Buy gas, power, and related commodities for resale, balancing, or supply needs.

Industrial and commercial users

Purchase energy-related products indirectly through wholesale or structured contracts.

Group companies

Use internal trading, liquidity distribution, and intercompany arrangements.

Utilities and suppliers

Use the company for commodity sourcing, storage, and transport flexibility.

Environmental certificate counterparties

Buy or sell green certificates tied to compliance and portfolio management.

Strategy

The business is structured to centralize European energy trading, contracting, and risk management within Centrica Energy. Its operating model depends on broad market access, contractual flexibility, and the ability to match physical positions with derivatives, storage, and transport capacity.

Optimize commodity and derivative positioningShort term

Trading performance depends on matching market views, physical flows, and hedge coverage.

Maintain access to transport and storageMedium term

Capacity and storage access are critical to move, balance, and arbitrage gas positions.

Support group liquidity and internal coordinationShort term

Intercompany cashpooling and receivables support capital efficiency within Centrica.

Geography

The company is headquartered in Denmark and operates through a wider European footprint under Centrica Energy Europe. Its activity is tied to European gas and power markets, with branches, permanent establishments, and subsidiaries across multiple countries that support cross-border trading and logistics.

Risks

The company is exposed to commodity price volatility, basis risk, and counterparty risk because its earnings depend on trading, derivatives, and physical contract execution. It also faces operational and valuation risk on gas storage, transport capacity, and fair-value inventory measurements, plus intercompany and regulatory complexity from operating across multiple European jurisdictions.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Commodity price volatility1Derivative fair value risk2Counterparty credit risk3Capacity and storage commitment risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Commodity price volatilityImpact: HighLikelihood: High

    Trading income and inventory values move with gas, power, and certificate markets.

    ExposureGasPowerCertificates
  2. Derivative fair value riskImpact: HighLikelihood: High

    Reported balances depend on market prices, valuation models, and contract assumptions.

    Exposure: Physical and financial derivatives

  3. Counterparty credit riskImpact: HighLikelihood: Medium

    The company trades with counterparties on wholesale terms and may face non-payment.

    Exposure: EFET and trading contracts

  4. Capacity and storage commitment riskImpact: MediumLikelihood: Medium

    Gas transport and storage contracts can create fixed obligations that are hard to offset.

    Exposure: Gas logistics

Ask Clarifo about CENTRICA ENERGY TRADING A/S

Accounting

Judgemental items
Fair value of gas inventories

Inventory values follow current spot prices in the relevant price area.

Impact: Can create period-to-period volatility in assets and earnings

Derivative valuation

Physical and financial contracts are remeasured using market-based inputs.

Impact: Affects trading income, assets, liabilities, and risk disclosures

Net presentation of trading income

Trading income is reported net across counterparties and related parties.

Impact: Reduces gross revenue visibility and complicates comparability

Intercompany dividends and cashpooling

Dividend movements may be offset against group receivables rather than paid in cash.

Impact: Impacts equity and receivables more than operating cash flow

Similar listed companies

Publicly listed companies with a comparable business focus.

CO2 Energy Transition Corp.

NOEM · Blank Checks

Pampa Energy Inc.

PAM · Electric Services

Equinor ASA

EQNR · Petroleum Refining

CenterPoint Energy, Inc (Holding Co)

CNP · Electric Services

Capital Clean Energy Carriers Corp.

CCEC · Deep Sea Foreign Transportation of Freight

Bravida Holding

BRAV · Industrials

Last updated: 24/10/2026