Looking at the financial results, Endeavour Invest concluded 2024 with a revenue of USD 4.5bn (2023: 4.4bn) and a net result of USD 52m (2023: USD 113m), leading to an improved consolidated Group equity of USD 471m (2023: USD 437m).
Focusing on Monjasa Holding A/S, we continued to see a strong demand for Monjasa’s services throughout the year, confirming the company’s ability to observe and navigate risks and opportunities around them while maintaining a strong focus on the core business.
An important contributor to these financial results was led by Monjasa’s ability to respond positively to whatever challenges the day may bring. This is a true Monjasa strength and made possible by keeping a close eye on our overall cost base throughout the years.
Another factor contributing positively to the 2024 financial performance was the continued investments in Monjasa’s global fleet and logistics and fully integrating these with the marine fuels activities.
Investing in offshore wind logistics
In 2024, we also invested further in offshore wind logistics as CBED took ownership of the two new sister CSOVs, Wind Evolution and Wind Creation, sending the total fleet size up from one to three vessels. With
immediate market demand for both newcomers, CBED’s overall performance ended up exceeding expectations.
Looking ahead, we continue to see a strong demand for CBED’s services with all three vessels on charter contracts for the vast majority of 2025.
Multiple Holding investments
Multiple Holding ApS experienced another year of steady developments in activities spanning across first musical production to extended stem cells treatment research.
As such, AHA Creations successfully premiered its first large-scale musical production, the hit musical Wicked, in Fredericia and Copenhagen during autumn 2024.
Cell2Cure completed treatment of its first planned participants in the Autism I study to show safety of the treatments and indications of clinical effects of its stem cell treatments. At the same time, the company secured its Good Manufacturing Procedure (GMP) license issued by the Danish Medicines Agency and required to produce stem cell treatment products.
The Cell2Cure organisation developed from five to 12 colleagues, significantly strengthening the backbone of the company.
Expectations for 2025
Altogether, we remain confident about the course we have set. Several years of solid performances leave us in a very strong financial position to face future challenges. No matter what, we will continue to evolve our business by observing and navigating the markets and world around us, day by day.
In 2025, we expect a high degree of global trade volatility and a continuous slow-down of recent years’ historically strong shipping markets. However, by keeping this steady course, we expect 2025 to be another positive financial year for the Group with a net result in the range of USD 20-50m.
