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Fredericia Musicalteater and AHA Creations, in collaboration with Chief1 and the Danish “We Love” phenomenon, present a new original musical experience: WHAT IS LOVE – a We Love the 90’s musical.

On September 20, 2025, the year’s biggest 90’s party will come to Fredericia Musicalteater in the form of a new original musical, which pays tribute t o the biggest hits from the 90’s – the sound that defined a decade.

“Pump up the Jam”, “Sing Hallelujah” and “What is Love” – the sound of the 90’s is bigger than ever before, and now nostalgic, party-loving, 90’s fans can get the ultimate total experience when WHAT IS LOVE moves to Fredericia Musicalteater.

As the first of its kind, the musical delves into the 90’s music industry and tells the story of a time when young people started a music revolution and left their mark on the future.

The performance will be a spectacular celebration of the biggest hits of the 90s and an opportunity to relive the golden age of music – with love for music and each other at the centre.

More than a musical

Audiences should prepare for a unique musical experience where the boundaries between stage and audience merge.

In WHAT IS LOVE, the theatre is turned upside down – literally. The audience is invited right up close to the action, seated around the centred stage, as if they were at an intimate and stadium concert at the same time. Screens and lights surround the room and transmit the performance live, allowing the audience to experience the actors’ smallest movements and emotions in intense close-ups and varied visual expressions. This immersive experience creates a unique closeness that brings every emotion in the play for the audience – both in the most intimate moments and at the most epic party.

Led by Endeavour’s ownership of global marine fuels supplier, Monjasa, the company realised the second-best financial performance ever, which contributed to an all-time high consolidated equity of USD 437m.

An important contributor to Monjasa’s solid financial performance, was the ability to navigate the high market volatility and determination to continue strengthening the fleet. Overall, the Monjasa fleet of owned tankers increased from 12 to 14 during 2023, while the total number of tankers and barges deployed worldwide remained steady at 30.

Looking at the overall financial performance, Endeavour Invest concluded 2023 with revenue of USD 4.4bn (USD 5.5bn) and a net result of USD 113m (2022: USD 170m), which led to a significantly improved consolidated equity of USD 437m (2022: USD 327m). 

Selling RelateIT to twoday

Main developments in 2023 also included a farewell to a treasured Endeavour member, IT business unit, RelateIT. During August, we finalised the sale of all shares in RelateIT to Nordic IT Group, twoday. Under our ownership, RelateIT has grown to become a major player in Denmark within ERP solutions, with close to 200 colleagues working across six locations.

Offshore developments

Looking to the offshore wind industry, CBED, performed above expectations and demonstrated a strong business throughout the year. This also meant the right timing to invest, and in late 2023, CBED concluded the acquisition of two SOVs, Wind Evolution and Wind Creation, which were delivered to the CBED fleet in Q1-Q2 2024.

Overall, we foresee another busy year in offshore wind logistics with a continued strong chartering demand throughout 2024.

Multiple Holding investments

Multiple Holding experienced another year of steady developments in activities spanning across first musical production to extended stem cells treatment research. As such, AHA Creations revealed its first large-scale musical production, the hit musical Wicked, to premiere in Fredericia and Copenhagen, during autumn 2024.

Endeavour’s dedicated entity for stem cell treatment research, Endeavour Cells, initiated a process to further expand its involvement in Danish company, Cell2Cure. As of 3 January 2024, this process successfully enabled Endeavour Cells to become the majority shareholder in Cell2Cure and securing continued research funding.

During the year, Multiple Holding also increased its share of ownership in Danish football club, FC Fredericia, from around 20% to 42% as part of a capital expansion.

Expectations for 2024

Looking back at 2023, the year leaves us in a very strong financial position to face future challenges and opportunities such as the green shipping transition and global offshore wind developments.

No matter what, we will continue to evolve our business by observing and navigating the markets and world around us, day by day.

By continuing to attract and retain the right colleagues and staying personal with our customers and partners, we expect 2024 to be another positive financial year for Endeavour Invest with a net result in the range of USD 40-80m.

In another year of high volatility across the global shipping markets, Monjasa Holding, an Endeavour Invest company, continued to experience an increase in total volume and realised the second-best financial performance ever, which led to an all-time high consolidated equity of USD 411m.

In the marine fuels industry and across some of Monjasa’s core markets, this high volatility was felt through the changing maritime trade flows and operations. This was the case in the Americas where Monjasa successfully navigated the Panama Canal drought issues by providing new refuelling solutions to customers affected by the restricted number of transiting vessels. In the same way, towards the end of 2023, Monjasa adapted quickly and succeeded in matching supply and demand in West Africa, where the Red Sea security crisis caused a sudden spike in demand as container lines began rerouting millions of tonnes of cargo south of Africa via Cape of Good Hope. 

Supplying a record volume of 6.5 million tonnes

Monjasa concluded 2023 with a 2% increase in total volume which reached a record 6.5m metric tonnes (2022: 6.4m mts) of marine fuels supplied to shipowners and operators worldwide. With a net result of USD 109m (2022: USD 171m) the year concluded above expectations which led to a significantly improved consolidated Group equity of USD 411m (2022: USD 323m).

The total volume of 6.5m tonnes positions Monjasa as the world’s 7^th largest global marine fuels supplier.

Monjasa Group CEO, Anders Østergaard says:

“We have a truly extraordinary organisation which thrives on navigating new waters and thinking up unexpected solutions. In combination with strengthening our fleet of owned tankers with four acquisitions, this contributed significantly to our financial performance. In a historically strong tanker market, we gained advantage of controlling a larger part of our logistics and having this fully integrated in the marine fuels activities.

At the same time, we have been awarded more long-term contracts involving global fuel supplies to some of the world’s leading shipowners. We are of course pleased to see that our services and personal business approach are in demand from this important group of business partners. Altogether, we are very satisfied with this strong set of results and by more than doubling total equity during the past two years, the future is open for the Monjasa Group.”

Positive financial outlook

Today, the Monjasa Group consists of 600+ colleagues located at 14 international offices and at sea. By continuing to attract and retain the right colleagues and further developing its fleet and low-carbon fuel mix, Monjasa expects 2024 to become another positive financial year with a net result in the range of USD 40-80m.

Total volume	6.5m mts (2022: 6.4m mts)
Total revenue	USD 4.4bn (2022: USD 5.5bn)
Net profit	USD 109m (2022: USD 171m)
Consolidated equity	USD 411m (2022: USD 323m)
Equity ratio	52% (2022: 46%)
Fleet	30 tankers and barges (2022: 30 tankers)
Total number of supply operations	13,962 (2022: 13,425)
Total number of ports served	806 (2022: 817 ports)

Existing partner, Endeavour Cells ApS provides capital increase to Cell2Cure ApS and own thereby own 51% of the company.

In collaboration with Endeavour Cells, the capital increase will be used to further develop Cell2Cure’s stem cell products both technically, clinically and commercially.

Cell2Cure’s products will be made market-ready to promote treatment with stem cells within a number of diseases – both nationally and abroad.

In addition to the capital injected, the collaboration with Endeavour Cells includes an agreement on milestone payments and possible continued financing of Cell2Cure’s activities within a 5-year time frame.

In connection with the capital increase, owner of Endeavour Cells ApS, Anders Østergaard, will become the new Chairman of the Board in Cell2Cure.

Anders Østergaard, CEO Endeavour Invest:

“We are convinced that stem cells in the long term will provide a significant contribution to the treatment of many different disorders and diseases. Endeavour Cells is therefore pleased to continue the collaboration and with the capital increase, we ensure Cell2Cure’s is able to focus on the important and promising technical and clinical work in the coming years.”

Jens Kastrup, CEO & Clinical Director, Cell2Cure:

“Cell2Cure is pleased with the trust that Endeavour Cells shows in our team and stem cell concept by expanding the collaboration with this capital injection. The commercial and organisational expertise that is also added through the expansion will be of great importance for Cell2Cure’s opportunities to expand and further develop stem cell technology and stem cell treatment for many different diseases and patient groups in need of new treatment concepts.“

CBED expands fleet with two new SOVs: Wind Evolution and Wind Creation

The Danish shipowning company, CBED, an Endeavour Invest ApS company specialised in tailor-made offshore accommodation solutions for the offshore energy sector, acquires two new vessels. 

The two new SOVs, Wind Evolution and Wind Creation, are expected to be delivered end of Q1 2024 and join the CBED fleet which since 2008 have worked on 31 individual offshore wind projects in Northern Europe.  

Following delivery from seller, Dutch-based shipping company Vroon, both Wind Evolution (formerly Vos Start) and Wind Creation (formerly Vos Stone) will be dry-docked for refurbishing, name change and painting according to the CBED fleet design. They will be ready to take on new walk-to-work, IRM and subsea projects starting Q2 2024. The parties have chosen not to disclose the sales amount.   

Surge in demand for SOVs

Looking to the future, the coming decade is likely to bring unprecedented demand for vessels to service projects in the offshore sector. According to Clarkson’s latest market report, the offshore wind sector alone is expecting 30,000 turbines and foundations are to be installed by 2030, and the yearly installation rate is set to double from 700-1,000 per year to more than 2,000 per year from 2025 and onwards.

Already now, there is a gap in the market when it comes to the supply of necessary offshore logistics vessels, and as such also an expected surge in demand for Service Operation Vessels, such as CBED’s new fleet additions, Wind Evolution and Wind Creation.

Daniel Alon, General Manager, CBED:

“We have been looking for the right opportunity to expand our fleet for a long time, so we are very pleased to have sealed the deal on these two very modern sister vessels. We see a very strong market now, and looking ahead, there will be an even higher demand for high-quality, purpose-built SOVs like Wind Evolution, Wind Creation and of course our existing Wind Innovation. Adding these two SOVs to our fleet brings new opportunities for CBED to take in more projects across a wide range of offshore disciplines.”

Chief Executive Officer, Vroon Holding BV, Martijn Schouten, says:

“Vroon and CBED will work together towards a seamless handover of the vessels, which we are confident will continue delivering a high-quality service to the offshore energy industry for many years to come.”

Seamless operations in a home away from home

Being sister vessels, both Wind Evolution and Wind Creation have room to accommodate 60 clients living comfortably onboard. The customised walk-to-work vessels both have motion compensated gangways and Kongsberg DP2 systems, allowing for safe transfers to and from offshore installations. In addition, both vessels are equipped with 50 tonnes AHC and 5 tonnes 3D motion compensated cranes. 

Both vessels also include onboard offices and meeting rooms allowing for seamless operations, as well as offering leisure time activities such as a fitness room, cinema, TV lounge and gaming facilities.

For more information on CBED visit c-bed.com. 

AHA Creations and Fredericia Musical Theatre enter a new strategic collaboration with the aim of producing top-level musicals with a strong financial foundation.

Fredericia Musical Theatre announces a strategic collaboration with production company, AHA Creations, which aims to create unique musical experiences in Fredericia. Together, they intend to build and develop a world-class musical ecosystem, building upon the theatre’s successful musical heritage.

AHA Creations, an Endeavour company, is a modern production company at the forefront of innovative, story-led musicals on the international stage.

Setting the scene for world class musicals  
The Theatre Director at Fredericia Musical Theatre, Thomas Bay, and Artistic Director, Martin Palme Skriver at AHA Creations both see the collaboration as a decisive step forward:

“The theatre is now ready to take a big step towards becoming one of Denmark’s leading music producers. The theatre is already running well with strong artistic successes, and we are of course sticking to the new line we have laid out for Fredericia Musical Theatre with experimental musicals as well as musicals for children and young people. Through the collaboration with AHA Creations, the Theatre now gets the extra financial safety net it needs to go up a higher gear,” says Thomas Bay.

AHA Creations and Fredericia Musical Theatre will produce one major musical together per season from autumn 2024 and onwards. The musicals will either be completely new musical productions or international productions from Broadway or the West End. All performances will feature a combination of elements that are sure to captivate audiences. These include compelling storytelling, music of the highest quality, impressive scenography and costumes, and the best artists both on and behind the stage.

“We are very happy to enter into this collaboration with Fredericia Musical Theatre and I personally couldn’t imagine any better place to start our journey than in the city where I myself am from and was shaped by. With our experience, joy in telling stories and a strong financial foundation combined with the theatre’s long-standing musical culture and know-how in producing successful musicals, we are convinced that we can create something completely unique in Fredericia,” Martin Palme Skriver concludes.

The worldwide musical phenomenon WICKED becomes the first production
The first musical is the famous Broadway musical, WICKED, in a new and original version, with the great Danish musical talents Johanne Milland and Nanna Rossen in the two leading roles.

WICKED is one of the world’s best-selling musicals of all time. And the Danish audience can look forward to experiencing a new spectacular version of the legendary musical about the witches of Oz. The upcoming production of WICKED can not only be experienced in Fredericia, but also in Copenhagen. Fredericia Musical Theatre has, together with Tivoli, ensured that WICKED will also come to the capital, where Tivoli will be co-producer of the set-up in the Concert Hall.

The performance will first premiere at Fredericia Musical Theater on 18 September 2024, and from 11 October it can be experienced in Tivoli’s Concert Hall in a co-production with Tivoli in Copenhagen.

Building a strong musical ecosystem in Fredericia
To achieve the ambitious goals, Fredericia Musical Theatre and AHA Creations must continue building on the specialised flair within the musical genre, which the Musical Academy and the theater in Fredericia have built up over many years.

The overall ambition is to develop a musical ecosystem, which will ensure a foundation for top-class musicals and in the long term have a significant influence on the development of musical talent in Fredericia.

Find out much more about the musical WICKED and AHA Creations.