Nasdaq CopenhagenIFRS · DKK

WRIST SHIP SUPPLY HOLDING A/S

WRIST SHIP SUPPLY HOLDING A/S is a Denmark-based holding company for a maritime supply business serving vessels operating in port and offshore environments. Through its subsidiaries, the group is associated with ship supply, logistics, and related marine services that support onboard provisioning and vessel operations.

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Operating profit (EBIT)-0.3m DKK
−100.1 %y/y
Net income-190m DKK
−13,844.5 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-2,00002,0004,0006,000m DKK2021: 4,458 m DKK2021: EBIT 123 m DKK20212022: 5,389 m DKK2022: EBIT 196 m DKK20222023: 5,548 m DKK2023: EBIT 179 m DKK20232024: 5,696 m DKK2024: EBIT 167 m DKK20242025: EBIT -0.25 m DKK2025-0.25
RevenueOperating profit (EBIT)
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Business

Share of revenue
Ship Supply45 %

Provisioning and supply of food, stores, and consumables to vessels.

Marine Consumables25 %

Deck, engine, safety, and maintenance items used onboard ships.

Bonded Stores15 %

Duty-controlled goods supplied to vessels under customs rules.

Marine Logistics15 %

Order handling, warehousing, and delivery coordination for ship calls.

Customers

The company serves commercial vessel operators that need recurring supplies while ships are in port or anchored nearby. Its customer base typically includes shipping lines, trampers, offshore operators, and fleet managers that value speed, compliance, and reliable delivery windows.

Shipping lines

Buy recurring stores and consumables for scheduled vessel calls and fleet coverage.

Ship managers and agents

Place and coordinate orders on behalf of vessel owners and operators.

Offshore and support vessels

Buy marine consumables and provision supplies tied to operational schedules.

Port-based vessel operators

Purchase bonded and duty-paid stores during turnaround and berth stays.

Strategy

The group’s business model depends on maintaining a dependable supply chain for time-sensitive vessel orders and coordinating delivery across port calls. Strategic strength comes from proximity to ships, customs handling capability, and the ability to serve recurring marine supply needs across customer fleets.

Reliable vessel servicingShort term

On-time provisioning is central to retaining shipping customers and repeat orders.

Customer relationship depthMedium term

Long-term contracts and repeat business matter in a relationship-driven maritime market.

Operational breadthMedium term

Coverage across multiple ports and vessel types supports resilience and scale.

Geography

The available filing excerpts identify Denmark as the company’s home country, but they do not disclose a country revenue split. In practice, ship supply businesses are typically organized around port locations and customer vessel calls, so service geography matters more than a single retail market.

Risks

The business is exposed to shipping-cycle demand swings, port congestion, and customer concentration across a limited number of vessel operators or agents. It also faces working-capital, customs, and execution risks because supplies must be purchased, handled, and delivered quickly under changing vessel schedules.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Shipping-cycle volatility1Operational execution risk2Customs and regulatory compliance3Working-capital strain4
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. Shipping-cycle volatilityImpact: HighLikelihood: High

    Demand for ship supply services rises and falls with vessel call volumes and fleet utilization.

    Exposure: Marine provisioning and logistics volumes

  2. Operational execution riskImpact: MediumLikelihood: High

    Orders must be delivered in narrow windows, so delays or errors can damage customer relationships.

    Exposure: Port delivery and order fulfillment

  3. Customs and regulatory complianceImpact: MediumLikelihood: Medium

    Bonded and duty-controlled goods require correct documentation and handling.

    Exposure: Bonded stores and cross-border supply

  4. Working-capital strainImpact: MediumLikelihood: Medium

    Inventory must be stocked ahead of demand while receivables depend on customer payment cycles.

    ExposureInventoryPayablesReceivables
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Accounting

Judgemental items
Investments in subsidiaries

The holding-company structure means the balance sheet can be driven by subsidiary carrying values and intra-group items.

Impact: May affect equity, impairment testing, and consolidation view

Contingent liabilities

Guarantees, claims, or contractual obligations can create off-balance-sheet exposures.

Impact: Can alter perceived risk and future cash needs

Liabilities arising from financing activities

Borrowings, leases, or other financing arrangements can materially affect leverage presentation.

Impact: Impacts net debt and liquidity analysis

Related parties and group relations

Intra-group transactions and balances may be significant in a holding structure.

Impact: Important for understanding true external performance

Last updated: 24/10/2026