- Revenue for H1 2025 was DKK 3,679 million, down from DKK 4,150 million in 2024.
- DKK 676 million invested in energy transition technologies, down from DKK 965 million in 2024.
- SOEC facility in Herning, Denmark, is nearing readiness for industrial-scale production.
- Full-year revenue outlook revised to DKK 7,600 – 8,200 million, EBIT margin to 6.5 – 8.5%.
Financial Performance
Topsoe's revenue for the first half of 2025 was DKK 3,679 million, a decrease from DKK 4,150 million in the same period in 2024. The decline was attributed to global market uncertainties, which led to postponed customer projects. EBIT before special items also fell to DKK 152 million from DKK 503 million in 2024.
Investment in Energy Transition
The company invested DKK 676 million in technologies supporting the energy transition, down from DKK 965 million in 2024. Despite market challenges, 23% of revenue, approximately DKK 839 million, was generated from technologies enabling the production of e-fuels, low-carbon, and renewable fuels.
SOEC Facility Progress
Topsoe's Solid Oxide Electrolyzer Cell (SOEC) manufacturing facility in Herning, Denmark, is nearing the final stage of readiness for industrial-scale production. This project is a significant step in scaling technologies for producing green hydrogen and derivatives like e-ammonia and e-methanol.
Revised Financial Outlook
Due to ongoing market uncertainties, Topsoe has updated its financial outlook for the full year. Revenue is now expected to be between DKK 7,600 and 8,200 million, down from the previous range of DKK 8,800 to 9,700 million. The EBIT margin before special items is revised to 6.5 – 8.5%, compared to the earlier forecast of 7.5 – 9.5%.
