COVID-19 had a negative impact on Topsoe’s business during 2021, as many refinery and technology projects were delayed due to low demand and market uncertainty, according to the company's release. This was especially the case in the first half of 2021, where revenue declined by 9%. However, the company have been able to deliver 11% revenue growth in the second half of 2021.
In 2021, Topsoe’s earnings (EBIT before special items) amounted to DKK 903 million, up 6% compared to 2020. This was driven by lower operational costs as a result of the organizational restructuring implemented in the fourth quarter of 2020. In addition, Topsoe’s gross margin increased by 1%-point, primarily driven by optimization within operations.
About Topsoe
Haldor Topsoe is a global leader in developing green energy solutions and is heavily engaged in developing solutions for decarbonizing the hard-to-abate sectors, including steel, cement, chemicals, shipping, and aviation. Topsoe’s solutions produce essential renewable energy carriers, fuels, and chemicals of the future, such as green hydrogen, green ammonia, eMethanol, and eFuels. The company is headquartered in Denmark and serve customers around the globe. In 2021, our revenue was approx. DKK 6.2 billion with 2,100 employees.