Topsoe has reported a revenue increase of 45% to DKK 4,664m ($679m) in the first half of 2023, citing a number of “new wins” in sustainable aviation fuel (SAF) and low-carbon hydrogen projects.
The Danish company’s EDITDA grew to DKK 653m ($95m) in H1 2023 from DKK 562m ($82m) in H1 2022, saying it had more than doubled its investments in Power-to-X and other green technologies from the previous corresponding period.
As a result of its H1 performance, Topsoe has raised its expected 2023 revenue from DKK 7,500-8,500m ($1.09-1.24bn) to DKK 8,800-9,200m ($1.28-1.34bn) and narrowed the range of the expected EBIT margin for the year to 9-10%, which previously stood at 8-10%.
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