Greenland Explorer ApS

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CVR 39446340Nuffit 34, 3905 NuussuaqSea and coastal passenger water transport· NACE 5010Est. 2018 · 8 years old— employeeshttps://Greenlandexplorer.gl

Overview

Greenland Explorer ApS is a Danish APS based in Nuussuaq, operating in the Sea and coastal passenger water transport sector. Incorporated in 2018, the company reported a gross profit of DKK 2.9m in its latest annual filing.

Gross profit 2023

2.9M DKK

+2% vs 2022

EBITDA margin (of gross profit)

21.8 %

−39% vs 2022

Net profit 2023

0.3M DKK

-58% vs 2022

Key ratios

See full ratios →

1.7 %

Very weak

Among the 20% lowest rated companies in the industry

20192023

0.3×

Very weak

Among the 10% lowest rated companies in the industry

20192023

14.4 %

Strong

Among the 30% highest rated companies in the industry

20192023

EBITDA — year on year

DKK thousands

Key figures

Annual report 2023

Gross profit	2.9M DKK	+2%
EBITDA	0.6M DKK	-39%
Net profit	0.3M DKK	-58%
Total assets	2M DKK	+69%
Equity	0M DKK	+113%
Employees	—	—

Contact

Address

Nuffit 34, 3905 Nuussuaq

Phone

+45553187

taatsi@greenlandexplorer.gl

Website

https://Greenlandexplorer.gl

Advertising protection

Active — opted out of marketing use

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Financial development

In its most recent annual report (2023), Greenland Explorer ApS reported a gross profit of DKK 2.9m, an increase of 2% on the year before. The figures on this page draw on 5 annual filings covering 2019 to 2023. The bottom line showed a net profit of DKK 288.6k, and the EBITDA margin stood at 21.8%.

At the end of 2023, equity financed 1.7% of the balance sheet, and current assets covered short-term debt 0.3 times.

Financials

Gross profit

DKK thousands

EBITDA

DKK thousands

Income statement

DKK thousands

Item	2023	2022	2021	2020	2019
Gross profit	2,915	2,844	1,218	232	125
Staff expenses	-2,278	-1,798	-1,279	-880	-34
EBITDA	636	1,045	-61	-648	90
Depreciation & amort.	-182	-118	-121	-266	-157
EBIT	455	927	-182	-915	-67
Net financials	-62	-26	-52	-57	-15
Profit before tax	393	901	-234	-972	-82
Tax	104	217	17	-305	-26
Net profit	289	684	-250	-667	-56

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Balance sheet

DKK thousands

Item	2023	2022	2021	2020	2019
Total assets	2,004	1,183	1,678	3,114	1,113
Equity	34	-254	-939	-688	-21
Long-term debt	0	0	0	0	0
Short-term debt	1,969	1,437	2,616	3,802	1,134
Total debt	1,969	1,437	2,616	3,802	1,134

Financial ratios

5-year trend

EBITDA margin (of gross profit)

21.8 %

20192023

Equity ratio

1.7 %

Very weak

Among the 20% lowest rated companies in the industry

20192023

Return on equity

842.1 %

Very strong

Among the 10% highest rated companies in the industry

20192023

Net profit margin (of gross profit)

9.9 %

20192023

Asset turnover (of gross profit)

1.45×

20192023

Debt / equity

57.47×

Very weak

Among the 10% lowest rated companies in the industry

20192023

Sector performance

22 of 28 ratios graded

28 financial ratios from the latest filing, each graded against companies in the same industry.

Profitability

Return on equity (ROE)Very strong

Among the 10% highest 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)Strong

Among the 30% highest rated companies in the industry

Net profit as a percentage of total assets — the return generated on the capital employed.

Return on net assets (RONA)Very strong

Among the 10% highest 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)Strong

Among the 30% highest rated companies in the industry

EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.

Capacity ratioStrong

Among the 40% 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.

Gross marginNot rated

Cannot be graded — the figures this ratio builds on are not available in the latest filing.

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 marginNot rated

Cannot be graded — the figures this ratio builds on are not available in the latest filing.

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 marginNot rated

Cannot be graded — the figures this ratio builds on are not available in the latest filing.

The profit for the year as a share of revenue — the company's ability to turn revenue into profit.

Liquidity

Current ratioVery weak

Among the 10% 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 10% 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 30% 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 weak

Among the 10% lowest 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 capitalVery weak

Among the 10% 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 ratioVery strong

Among the 20% highest rated companies in the industry

Cash flow relative to profit — the ability to convert reported profits into accessible cash.

Debt & solvency

Solidity ratioVery weak

Among the 20% lowest 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 ratioVery weak

Among the 20% lowest 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 equityVery weak

Among the 10% lowest rated companies in the industry

Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.

Liabilities to equityVery weak

Among the 10% lowest rated companies in the 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 debtAverage

Around the average of companies in the same 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 30% lowest rated companies in the industry

Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.

Interest marginStrong

Among the 30% highest rated companies in the 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

Equity to contributed capitalVery weak

Among the 20% lowest 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 debtWeak

Among the 30% lowest rated companies in the industry

The size of this year's increase or decrease in the company's debt.

Asset turnoverNot rated

Cannot be graded — the figures this ratio builds on are not available in the latest filing.

Revenue relative to total assets — the ability to generate revenue from the asset base.

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.

One-year change in equityNot rated

Cannot be graded — the figures this ratio builds on are not available in the latest filing.

The size of this year's increase or decrease in the company's equity.

Annual reports & filings

Annual report 2023
Filed via CVR / Virk · Period 2023-01-01 – 2023-12-31
View PDF
Annual report 2022
Filed via CVR / Virk · Period 2022-01-01 – 2022-12-31
View PDF
Annual report 2021
Filed via CVR / Virk · Period 2021-01-01 – 2021-12-31
View PDF
Annual report 2020
Filed via CVR / Virk · Period 2020-01-01 – 2020-12-31
View PDF
Annual report 2019
Filed via CVR / Virk · Period 2019-01-01 – 2019-12-31
View PDF

People & ownership

Management

Actively employed in the business

Name	Role	Member since
Current (2)
KD Klaus Dupont Iversen Founder	Founder	2018
MK Michael Kjeldgaard Munch Founder	Founder	2018

Former (1)


TA Taatsiannguaq Arne Berthelsen Management	Management	2025 – 2025

Board of directors

Non-executive oversight

Name	Role	Member since

Former (4)


TA Taatsiannguaq Arne Berthelsen Board of Directors	Board of Directors	2020 – 2022
JJ Jan Joe Seidsen Board of Directors	Board of Directors	2020 – 2022
KD Klaus Dupont Iversen Chairman	Chairman	2020 – 2022
MS Mike Stewart Board of Directors	Board of Directors	2020 – 2021

Shareholders

Active legal owners

Shareholder	Type	Ownership	Votes	Registered
Taatsiannguaq Arne Berthelsen	Individual	100%	100%	2022
Jan Joe Seidsen	Individual	33.33–49.99%	33.33–49.99%	2020
Klaus Dupont Iversen	Individual	33.33–49.99%	33.33–49.99%	2020

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Related companies

Company hierarchy

No registered parent or subsidiaries

Board network connections

Board members of Greenland Explorer ApS also hold positions in 38 other companies.

Person	Role here	Other companies
Michael Kjeldgaard Munch	Founder	20 companiesMany roles
Jan Joe Seidsen	Board of Directors	11 companiesMany roles
Klaus Dupont Iversen	Founder	5 companies
Taatsiannguaq Arne Berthelsen	Management	2 companies

Frequently asked questions

What is the CVR number of Greenland Explorer ApS?

Greenland Explorer ApS is registered with CVR / Virk under CVR 39446340.

What is the gross profit of Greenland Explorer ApS?

Greenland Explorer ApS reported a gross profit of DKK 2.9m in 2023.

Where is Greenland Explorer ApS headquartered?

Greenland Explorer ApS's registered address is Nuffit 34.