Morsø Spildevand A/S
A/SActiveCVR 31895936Strandparken 19, 7900 Nykøbing MSewerage· NACE 3700Est. 2008 · 17 years old— employeeshttps://www.morsoeforsyning.dk
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Overview
Morsø Spildevand A/S is a Danish A/S based in Nykøbing M, operating in the Sewerage sector. Incorporated in 2008, the company reported revenue of DKK 57.7m in its latest annual filing.
Revenue 2025
57.7M DKK
+21% vs 2024
EBITDA margin
22.1 %
+171% vs 2024
Net profit 2025
6.2M DKK
+352% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
64.2 %
StrongAmong the 40% highest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
0.3×
Very weakAmong the 20% lowest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
0.8 %
AverageAround the average of companies in the same industry
20212025
EBITDA — year on year
DKK millionsKey figures
Annual report 2025| Revenue | 57.7M DKK | +21% |
| EBITDA | 12.7M DKK | +171% |
| Net profit | 6.2M DKK | +352% |
| Total assets | 733.1M DKK | 0% |
| Equity | 470.6M DKK | +1% |
| Employees | — | — |
Company information
Legal name
MORSØ SPILDEVAND A/S
CVR number
31895936
Legal form
Aktieselskab
NACE code
3700 · Sewerage
Founded
12 December 2008 · 17 years
Share capital
DKK 10,000,000
Employees
—
VAT registered
Yes
Audit selected
Yes
Last report
2025-12-31
Financial year
January – December
Signatory rights
Selskabet tegnes af bestyrelsens formand i forening med et andet bestyrelsesmedlem eller i forening med en direktør, af 2 bestyrelsesmedlemmer i forening med en direktør eller af den samlede bestyrelse.
Company purpose
Selskabets formål er at varetage spildevandsforsyningsvirksomhed i Morsø Kommune.
(no translation available)
Contact
Address
Strandparken 19, 7900 Nykøbing M
Phone
+45 8213 0404
Email
post@morsoeforsyning.dk
Website
https://www.morsoeforsyning.dk
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Financial development
In its most recent annual report (2025), Morsø Spildevand A/S reported revenue of DKK 57.7m, an increase of 21% on the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net profit of DKK 6.2m, and the EBITDA margin stood at 22.1%.
At the end of 2025, equity financed 64.2% of the balance sheet, and current assets covered short-term debt 0.3 times.
Financials
Revenue
DKK millionsEBITDA
DKK millionsIncome statement
DKK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 57,699 | 47,531 | 47,728 | 41,486 | 43,362 |
| Staff expenses | -0 | -0 | -0 | -0 | -0 |
| EBITDA | 12,738 | 4,700 | 4,954 | 2,800 | 7,165 |
| Depreciation & amort. | -0 | -0 | -0 | -0 | -0 |
| EBIT | 12,738 | 4,700 | 4,954 | 2,800 | 7,165 |
| Net financials | -6,571 | -7,144 | -7,207 | -5,553 | -5,121 |
| Profit before tax | 6,167 | -2,444 | -2,253 | -2,753 | 2,044 |
| Tax | -0 | -0 | -0 | -0 | -0 |
| Net profit | 6,167 | -2,444 | -2,253 | -2,753 | 2,044 |
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Balance sheet
DKK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 733,130 | 734,417 | 740,837 | 752,866 | 729,709 |
| Equity | 470,636 | 464,469 | 466,913 | 469,166 | 471,919 |
| Long-term debt | 242,253 | 247,118 | 253,432 | 246,594 | 229,269 |
| Short-term debt | 20,241 | 22,830 | 20,491 | 37,106 | 28,521 |
| Total debt | 262,494 | 269,948 | 273,924 | 283,700 | 257,790 |
Financial ratios
5-year trendEBITDA margin
22.1 %
20212025
Equity ratio
64.2 %
StrongAmong the 40% highest rated companies in the industry
20212025
Return on equity
1.3 %
WeakAmong the 40% lowest rated companies in the industry
20212025
Net profit margin
10.7 %
AverageAround the average of companies in the same industry
20212025
Asset turnover
0.08×
WeakAmong the 30% lowest rated companies in the industry
20212025
Debt / equity
0.56×
AverageAround the average of companies in the same industry
20212025
Sector performance
27 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginWeak
Among the 40% lowest rated companies in the industry
The gross result as a share of revenue — how much of the revenue is left after variable costs to cover the company's fixed costs.
Operating marginStrong
Among the 40% highest rated companies in the industry
EBIT as a share of revenue — the share of revenue remaining as earnings once all operating costs are covered. A key measure of earning power.
Net profit marginAverage
Around the average of companies in the same industry
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Return on equity (ROE)Weak
Among the 40% lowest rated companies in the industry
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on assets (ROA)Average
Around the average of companies in the same industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Return on net assets (RONA)Weak
Among the 40% lowest rated companies in the industry
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Basic earning power (BEP)Average
Around the average of companies in the same industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioVery strong
Among the 10% highest rated companies in the industry
Shows how strongly fixed costs weigh on the gross result — a high ratio means fixed costs take only a small bite out of the earnings from basic operations.
Liquidity
Current ratioVery weak
Among the 20% lowest rated companies in the industry
Current assets relative to short-term debt — the ability to settle short-term obligations with current assets alone. Around 150% is considered satisfactory from a credit perspective.
Quick ratioVery weak
Among the 20% lowest rated companies in the industry
Current assets excluding inventory relative to short-term debt — whether the most liquid assets alone can cover the short-term obligations. A value of 1 or above signals a healthy liquidity position.
Cash ratioWeak
Among the 40% lowest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityVery strong
Among the 10% highest rated companies in the industry
Current assets relative to equity — an indicator of the balance-sheet structure and of the company's short- and long-term financing. The healthy level is highly industry-dependent.
Fixed assets to long-term capitalWeak
Among the 40% lowest rated companies in the industry
Fixed assets relative to long-term capital (equity plus long-term liabilities). Below 100% means the long-term capital finances more than just the fixed assets — a healthier liquidity position.
Cash conversion ratioStrong
Among the 30% highest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioStrong
Among the 40% highest rated companies in the industry
Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.
Debt ratioStrong
Among the 40% highest rated companies in the industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Debt to equityAverage
Around the average of companies in the same industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityAverage
Around the average of companies in the same industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtAverage
Around the average of companies in the same industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtWeak
Among the 40% lowest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageAverage
Around the average of companies in the same industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtWeak
Among the 40% lowest rated companies in the industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginAverage
Around the average of companies in the same industry
The return on assets minus the interest rate on debt. Positive means the company benefits from operating with debt; negative means the debt makes it worse off.
Efficiency & development
Asset turnoverWeak
Among the 30% lowest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Equity to contributed capitalVery strong
Among the 20% highest rated companies in the industry
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
One-year change in equityAverage
Around the average of companies in the same industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtStrong
Among the 40% highest rated companies in the industry
The size of this year's increase or decrease in the company's debt.
Inventory turnoverNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Revenue relative to inventory — how many times a year the inventory is sold and replaced. A low value can indicate weak sales or excess inventory.
Annual reports & filings
- Annual report 2025Filed via CVR / Virk · Period 2025-01-01 – 2025-12-31
- Annual report 2024Filed via CVR / Virk · Period 2024-01-01 – 2024-12-31
- Annual report 2023Filed via CVR / Virk · Period 2023-01-01 – 2023-12-31
- Annual report 2022Filed via CVR / Virk · Period 2022-01-01 – 2022-12-31
- Annual report 2021Filed via CVR / Virk · Period 2021-01-01 – 2021-12-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
ML Chief Executive Officer | Chief Executive Officer | 2024 |
Former (9)
KS Deputy | Deputy | 2022 – 2026 |
GG Chief Executive Officer | Chief Executive Officer | 2014 – 2018 |
BI Management | Management | 2014 – 2014 |
CL Deputy | Deputy | 2020 – 2022 |
JF Management | Management | 2008 – 2014 |
JR Deputy | Deputy | 2020 – 2022 |
VS Chief Executive Officer | Chief Executive Officer | 2018 – 2024 |
JC Chief Executive Officer | Chief Executive Officer | 2024 – 2024 |
HH Deputy | Deputy | 2022 – 2026 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (7) | ||
SG Deputy Chairman | Deputy Chairman | 2026 |
MS Board of Directors | Board of Directors | 2026 |
AS Board of Directors | Board of Directors | 2026 |
PL Board of Directors | Board of Directors | 2026 |
CL Board of Directors | Board of Directors | 2022 |
NK Board of Directors | Board of Directors | 2026 |
JC Chairman | Chairman | 2026 |
Former (20)
MP Board of Directors | Board of Directors | 2014 – 2015 |
VV Deputy Chairman | Deputy Chairman | 2018 – 2022 |
PK Deputy Chairman | Deputy Chairman | 2024 – 2024 |
EW Board of Directors | Board of Directors | 2010 – 2013 |
MD Board of Directors | Board of Directors | 2009 – 2010 |
PN Board of Directors | Board of Directors | 2008 – 2010 |
KC Board of Directors | Board of Directors | 2008 – 2010 |
GO Board of Directors | Board of Directors | 2010 – 2013 |
KB Board of Directors | Board of Directors | 2010 – 2013 |
PR Deputy Chairman | Deputy Chairman | 2014 – 2015 |
HE Chairman | Chairman | 2018 – 2019 |
TJ Board of Directors | Board of Directors | 2020 – 2022 |
AR Board of Directors | Board of Directors | 2016 – 2026 |
UK Chairman | Chairman | 2014 – 2018 |
PT Chairman | Chairman | 2019 – 2024 |
OC Board of Directors | Board of Directors | 2008 – 2010 |
JK Board of Directors | Board of Directors | 2016 – 2019 |
HK Board of Directors | Board of Directors | 2022 – 2023 |
AR Board of Directors | Board of Directors | 2018 – 2026 |
VK Board of Directors | Board of Directors | 2014 – 2018 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 100% | 100% | 2009 |
Beneficial ownership (UBO) data access is restricted in Denmark as of September 2025 per the EU 6th AML Directive. Learn more.
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Related companies
Company hierarchy
Morsø Kommune
Morsø Spildevand A/S Board network connections
Board members of Morsø Spildevand A/S also hold positions in 120 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Jesper Kirk | Board of Directors | 32 companiesMany roles |
| Mogens Poulsen | Board of Directors | 10 companiesMany roles |
| Meiner Dissing Nørgaard | Board of Directors | 8 companiesMany roles |
| Søren Goul | Deputy Chairman | 7 companiesMany roles |
| Niels Kristian Østergaard | Board of Directors | 6 companiesMany roles |
| Christian Lyndrup | Deputy | 5 companies |
| Ansgar Riis Nygaard | Board of Directors | 5 companies |
| Morten Linnemann Madsen | Chief Executive Officer | 4 companies |
| John Christiansen | Chief Executive Officer | 4 companies |
| Hanne Haaning | Deputy | 4 companies |
| Poul Kristensen | Deputy Chairman | 4 companies |
| Anette Svindborg | Board of Directors | 4 companies |
| Gunhild Olesen Møller | Board of Directors | 4 companies |
| Michael Skytte Møller | Board of Directors | 3 companies |
| Hans Ejner Kortbæk Bertelsen | Chairman | 3 companies |
| Peter Lillebæk Jensen | Board of Directors | 3 companies |
| Uffe Korsgaard | Chairman | 3 companies |
| Peter Therkildsen | Chairman | 3 companies |
| Kurt Svane Pedersen | Deputy | 2 companies |
| Egon Walther Nygaard Mikkelsen | Board of Directors | 2 companies |
| Vivian Schmücker Søndergaard | Chief Executive Officer | 1 company |
| Kjeld Bak | Board of Directors | 1 company |
| Poul Riis Roesen | Deputy Chairman | 1 company |
| Allan Riis Larsen | Board of Directors | 1 company |
Frequently asked questions
What is the CVR number of Morsø Spildevand A/S?
Morsø Spildevand A/S is registered with CVR / Virk under CVR 31895936.
What is the revenue of Morsø Spildevand A/S?
Morsø Spildevand A/S reported revenue of DKK 57.7m in 2025.
Who is the CEO of Morsø Spildevand A/S?
Morten Linnemann Madsen is the CEO of Morsø Spildevand A/S, in role since 2024.
Who is the chairman of Morsø Spildevand A/S?
John Christiansen chairs the board of Morsø Spildevand A/S, in role since 2026.
Where is Morsø Spildevand A/S headquartered?
Morsø Spildevand A/S's registered address is Strandparken 19.