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LM Wind Power A/S

Public limited companyCVR 76490511KoldingActive

LM Wind Power A/S is a public limited company, based in Kolding, active in research and experimental development on natural sciences and engineering, founded in 1985. Equity was negative at the end of 2025 (−DKK 4.4bn). After a loss in 2024, the company made a profit of DKK 7m in 2025. Operations are spread over 4 production units.

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Key figures · financial year 2025

RevenueDKK 94m−95.6% vs. 2024
Net profitDKK 7m+100.3% vs. 2024
Equity−DKK 4.4bn−4.7% vs. 2024
Employees45latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • Revenue fell 96% (2024 → 2025), to DKK 94m.
  • Net profit went from a loss of DKK 2.6bn to a profit of DKK 7m (2024 → 2025).

Employees

  • 64 fewer employees than a year earlier: 45 (07/2026) against 109 (07/2025).

Management and owners, last 24 months

  • New in management: Simon Sand Nielsen (chair of the board, 24/10/2025), Nikolaj Toft (ceo, 24/10/2025) and Guilherme Andrade de Rangel Moreira (board member, 24/10/2025) (+2).
  • Stepped down: Jeppe Bjørn Jørgensen (board member, 31/10/2025), Hanif Mashal (board member, 24/10/2025) and Hanif Mashal (ceo, 24/10/2025) (+6).

Registrations, last 24 months

  • 01/07/2025: Industry changed to Research and experimental development on natural sciences and engineering (721000)
  • 01/01/2025: Industry changed to Manufacture of engines and turbines, except aircraft, vehicle and cycle engines (281100)

Calculated from the latest two annual reports in sequence and from registrations in CVR. A figure that is missing in either year gives no line, and we derive no figures.

Financial statements

Financial years 2020–2025 · amounts in DKK thousand

Equity and net profit

−DKK 5bn−DKK 4bn−DKK 3bn−DKK 2bn−DKK 1bnDKK 0DKK 1bn202020212022202320242025
EquityNet profit
Financial figures for LM Wind Power A/S
202020212022202320242025Change
Revenue5,025,2365,579,6714,768,9013,553,1382,144,46193,966−95.6%
Gross profit−48,987−410,003−1,054,555−1,352,401−2,175,613−469,925+78.4%
Operating profit (EBIT)−517,018−774,080−1,388,946−1,957,257−2,737,431−597,849+78.2%
Profit before tax−623,039−893,315−1,383,768−2,024,544−2,627,643−4,558+99.8%
Net profit−533,250−1,249,832−1,356,954−1,990,055−2,636,4967,013+100.3%
Total assets4,653,6934,938,4374,631,0903,538,7513,334,3832,398,911−28.1%
Equity884,274−167,697−1,495,523−1,546,804−4,183,301−4,380,180−4.7%
Liabilities3,154,9164,189,8215,350,9894,360,2096,633,0376,187,596−6.7%
Cash and cash equivalents4,93215382,7156,168624228−63.5%
Average number of employees414279269266190101−46.8%

Source: annual reports filed with the Danish Business Authority (XBRL). Figures for the company (not the group); change is the latest year against the year before. “–” means the figure is not stated in the annual report.

Download the figures as CSV · free with an account, amounts in whole DKK

−DKK 2.5bn−DKK 2bn−DKK 1.5bn−DKK 1bn−DKK 500mDKK 0202020212022202320242025
Gross profitMedian, the industry (431 companies)

Signals from the financial statements

calculated from the 2025 figures

  • Negative equity

    Equity was −DKK 4.4bn at the end of 2025.

    How is this calculated?

    Equity in the latest annual report is below zero.

  • Fewer employees

    The number of employees fell 47% from 190 in 2024 to 101 in 2025.

    How is this calculated?

    The number of employees according to the annual report has fallen by at least 25%, and was at least 10 the year before.

The signals are rules applied to the figures in the annual reports. They are not an assessment or credit rating of the company. See Data and method.

Annual reports

6 financial years
Annual reports for LM Wind Power A/S
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202530/06/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202405/08/2025The companyPDFXBRL
202301/01/2023 – 31/12/202317/07/2024The companyPDFXBRL
202201/01/2022 – 31/12/202201/08/2023The companyPDFXBRL
202101/01/2021 – 31/12/202102/08/2022The companyPDFXBRL
202001/01/2020 – 31/12/202012/07/2021The companyPDFXBRL

The figures from all the annual reports are shown on this page. The documents themselves (PDF and XBRL, the machine-readable edition) are downloaded with a Pro account: sign in or create a free account, and then choose Pro. XBRL is the edition the figures on the page are read from.

Employees

monthly figures from CVR
05010015020025008/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/26
Employees

Position in the industry

431 companies in the database

Comparison with the other companies in research and experimental development on natural sciences and engineering based on the latest financial year.

Gross profit−DKK 469.9mNo. 421 of 421
Better than 0% of the companies in the industry
Equity−DKK 4.4bnNo. 431 of 431
Better than 0% of the companies in the industry
Number of employees45No. 20 of 431
Better than 96% of the companies in the industry

Industry median: gross profit DKK 616k, net profit −DKK 892k, equity DKK 2m, 5 employees.

DKK 100kDKK 2.5mDKK 63.4mDKK 1.6bnDKK 13.7bn
Distribution of gross profit for 250 companies in the industry (latest financial year, logarithmic scale). Amber bar: where this company sits.

Compared with similar companies

size, age and company form
Rank among similar companies
GroupGross profitEquity
Companies with 20–49 employees9,922 companies in the comparison
No. 9,892of 9,892
Better than 0%
No. 9,922of 9,922
Better than 0%
Same industry and 20–49 employees64 companies in the comparison
No. 62of 62
Better than 0%
No. 64of 64
Better than 0%
Companies that are at least 30 years old10,276 companies in the comparison
No. 10,152of 10,152
Better than 0%
No. 10,275of 10,275
Better than 0%
All companies of type A/S18,025 companies in the comparison
No. 17,784of 17,786
Better than 0%
No. 18,024of 18,024
Better than 0%

The rank is calculated among companies in the database with a figure for the latest financial year, and is shown only for groups of at least ten companies.

Compare with the industry

Research and experimental development on natural sciences and engineering
Gross profit
  1. LM Wind Power A/S−DKK 469.9m
  2. Carlsberg A/SDKK 40.2bn
  3. Zealand Pharma A/SDKK 9.2bn
Net profit
  1. LM Wind Power A/SDKK 7m
  2. Carlsberg A/SDKK 7bn
  3. Zealand Pharma A/SDKK 6.5bn
Equity
  1. LM Wind Power A/S−DKK 4.4bn
  2. Carlsberg A/SDKK 30.7bn
  3. Zealand Pharma A/SDKK 14.8bn
Employees
  1. LM Wind Power A/S45
  2. Carlsberg A/S107
  3. Zealand Pharma A/S569

Latest financial year per company. Choose up to three companies from the largest in the industry.

Owners and group

from the Public Ownership Register
Owners
  • LM Group Holding A/S100%
LM Wind Power A/S

Management

4 active registrations

Executive management

Executive management at LM Wind Power A/S
NameRoleAppointed
Nikolaj ToftCEO24/10/2025

Board of directors

Board of directors at LM Wind Power A/S
NameRoleAppointed
Nikolaj ToftBoard member11/06/2024
Simon Sand NielsenChair of the board24/10/2025
Guilherme Andrade de Rangel MoreiraBoard member24/10/2025
Former management (88)
Former management at LM Wind Power A/S
NameRoleAppointedResigned
John KorsgaardDeputy board member30/10/198514/05/1999
Knud-Erik HansenBoard member30/10/198511/10/1999
Nis Benny IversenBoard member30/10/198511/01/1995
Niels Bo AndersenChair of the board30/10/198529/04/1997
Jørgen Børsen BentzenDeputy board member30/10/198511/01/1995
Peter Krog-JørgensenBoard member30/10/198531/05/1995
Flemming SkouboeBoard member30/10/198508/05/2001
Flemming SkouboeDirector30/10/198510/02/1995
Anders Damsgaard ChristensenCEO30/10/198508/07/2005
Aage Hilmar SkouboeBoard member30/10/198517/07/1990
Johannes ViuffBoard member30/10/198522/11/1990
Lars Kousgaard MikkelsenDirector30/10/198524/08/2001
Poul Erik ThomsenBoard member30/10/198514/05/1999
Leif Sebelius MoosDeputy board member30/10/198511/01/1995
Per LaursenBoard member30/10/198516/04/2007
Holger Marius Uhd HansenBoard member30/10/198522/11/1990
Jens Vase MadsenBoard member30/10/198506/06/1989
Aksel Bruun SkovgaardDirector30/10/198525/01/1999
Niels-Ove MadsenBoard member30/10/198522/11/1990
Flemming Bjerregaard RasmussenBoard member31/05/199529/04/1997
Jørgen Riis ChristensenBoard member29/04/199708/05/2001
Aksel Bruun SkovgaardChair of the board29/04/199708/05/2001
Flemming Bjerregaard RasmussenCEO01/08/199704/10/1999
Svend Børge HansenDeputy board member14/05/199924/04/2003
Iver Vejlgaard VedstesenDeputy board member14/05/199924/04/2003
Henrik Christian PetersenBoard member14/05/199916/04/2007
Anders Mikael KoldBoard member31/05/200008/05/2001
Anders Damsgaard ChristensenBoard member08/05/200110/06/2002
Jørgen Devantier GadeChief financial officer24/08/200101/01/2010
Anders Jørn KnutsenChair of the board10/06/200228/04/2005
Jesper Vallentin AagaardDeputy board member24/04/200331/07/2006
Steen Oluf Elgaard PedersenDeputy board member24/04/200316/04/2007
Kenneth John TerryDeputy chair24/04/200303/03/2004
Åke Rikard BrattbergerDeputy chair03/03/200423/10/2006
Carl Alan Mark FlormanChair of the board28/04/200523/10/2006
Robert David MackenzieCEO08/07/200503/10/2005
Paul AnthonyCEO03/10/200508/05/2006
Roland Mikael SundénCEO08/05/200631/05/2012
Jørgen Devantier GadeBoard member23/10/200601/01/2010
Søren Friis KnudsenChair of the board23/10/200603/07/2009
Agustin Antonio Lopo GonzalezBoard member08/02/200730/03/2007
Sergio Lopez GarciaBoard member30/03/200728/08/2008
Kasmir Klaus PomykalaBoard member16/04/200719/11/2007
Leif Bøhnke GuldbrandtDeputy board member16/04/200722/06/2011
Preben HansenBoard member19/11/200716/04/2010
Miguel Angel Balbuena GomezBoard member29/05/200929/03/2016
Søren HøfferChair of the board01/01/201028/02/2018
Dominique Robert de Lisle YatesBoard member01/01/201012/11/2010
Dominique Robert de Lisle YatesChief financial officer01/01/201012/11/2010
Ole BertelsenBoard member11/11/201011/04/2013
Damien HarteBoard member01/01/201129/08/2014
Damien HarteDirector01/01/201129/08/2014
Morten Gade ChristensenDeputy board member22/06/201101/02/2013
Thomas Engelstoft LindharthDeputy board member22/06/201103/05/2015
Morten Kjul LarsenBoard member22/06/201127/04/2015
Birgit Østergård PedersenBoard member22/06/201126/02/2014
Timothy Dougal RobsonCEO31/05/201229/04/2013
Frank Virenfeldt NielsenBoard member11/04/201323/05/2014
Leendert Matheus SchotCEO29/04/201305/06/2015
Richard Andrew BevanBoard member23/05/201429/03/2016
Nicholas Alexander SmithBoard member29/08/201406/07/2017
Nicholas Alexander SmithChief financial officer29/08/201406/07/2017
Thomas Engelstoft LindharthBoard member04/05/201509/07/2020
Niels Bjarne HansenBoard member04/05/201502/07/2019
Christian Munk-ChristensenDeputy board member04/05/201502/07/2019
Michael Lyager AndersenDeputy board member04/05/201502/07/2019
Marcus Johannes Cornelis de JongCEO05/06/201530/04/2018
Marcus Johannes Cornelis de JongBoard member29/03/201630/04/2018
Rodrigo Carneiro da Cunha TorresBoard member06/07/201701/10/2019
Bjarne Sandager NielsenChair of the board28/02/201813/03/2024
Duncan Gee BerryBoard member30/04/201803/02/2020
Duncan Gee BerryCEO30/04/201803/02/2020
Jens Rosenkjær FrederiksenDeputy board member02/07/201909/07/2020
Jeppe Bjørn JørgensenBoard member02/07/201931/10/2025
Rene Kampen SchrøderDeputy board member02/07/201908/07/2020
Ksenia ValtychevaBoard member01/10/201913/03/2023
Olivier Gaston René FontanBoard member03/02/202019/02/2024
Olivier Gaston René FontanCEO03/02/202019/02/2024
Rene Kampen SchrøderBoard member09/07/202031/12/2020
Ignazio Alessandro ImburgiaBoard member13/03/202320/09/2024
Hanif MashalBoard member19/02/202424/10/2025
Hanif MashalCEO19/02/202424/10/2025
Vibeke DittrichChair of the board13/03/202424/10/2025
Gurli Rask NielsenBoard member16/07/202410/06/2026
Rasmus Duegaard JensenBoard member19/07/202405/05/2026
Hoang Thi Thu HaBoard member20/09/202425/02/2026
Bibi TeislevDeputy board member01/11/202505/05/2026
Sieglinde JabsBoard member01/11/202505/05/2026

Signing rule: Selskabet tegnes af to medlemmer af bestyrelsen i forening, af to direktører i forening eller af et medlem af bestyrelsen i forening med en direktør.

Address and production units

4 active production units

Jupitervej 6
6000 Kolding

Kolding Municipality · Postcode 6000

Other companies at the address (2)

Production units
Production unitAddressEmployeesP number
LM WIND POWER A/SJupitervej 6, 6000 Kolding411001474394
LM WIND POWER A/SAage Skouboes Vej 2, 6640 Lunderskov341009807043
LM WIND POWER A/SVingen 1, 6640 Lunderskov211005272494
LM WIND POWER A/SRolles Møllevej 1, 6640 Lunderskov11015394427

Purpose

Selskabets formål er at drive virksomhed inden for handel og industri og anden i forbindelse hermed stående virksomhed.

The purpose is quoted from the register in Danish.

Changes year by year

139 registered events
20266 changesaccounts 1 · management 5
  • Annual report for 2025 published
  • Gurli Rask Nielsen stepped down as board member
  • Bibi Teislev stepped down as deputy board member
  • Sieglinde Jabs stepped down as board member
  • Rasmus Duegaard Jensen stepped down as board member
  • Hoang Thi Thu Ha stepped down as board member
202512 changesmanagement 9 · accounts 1 · industry 2
  • Bibi Teislev appointed deputy board member
  • Sieglinde Jabs appointed board member
  • Jeppe Bjørn Jørgensen stepped down as board member
  • Nikolaj Toft appointed ceo
  • Simon Sand Nielsen appointed chair of the board
  • Guilherme Andrade de Rangel Moreira appointed board member
  • Vibeke Dittrich stepped down as chair of the board
  • Hanif Mashal stepped down as ceo
  • Hanif Mashal stepped down as board member
  • Annual report for 2024 published
  • Industry changed to Research and experimental development on natural sciences and engineering (721000)
  • Industry changed to Manufacture of engines and turbines, except aircraft, vehicle and cycle engines (281100)
202412 changesmanagement 11 · accounts 1
  • Hoang Thi Thu Ha appointed board member
  • Ignazio Alessandro Imburgia stepped down as board member
  • Rasmus Duegaard Jensen appointed board member
  • Annual report for 2023 published
  • Gurli Rask Nielsen appointed board member
  • Nikolaj Toft appointed board member
  • Vibeke Dittrich appointed chair of the board
  • Bjarne Sandager Nielsen stepped down as chair of the board
  • Hanif Mashal appointed ceo
  • Hanif Mashal appointed board member
  • Olivier Gaston René Fontan stepped down as board member
  • Olivier Gaston René Fontan stepped down as ceo
20233 changesaccounts 1 · management 2
  • Annual report for 2022 published
  • Ignazio Alessandro Imburgia appointed board member
  • Ksenia Valtycheva stepped down as board member
20221 changeaccounts 1
  • Annual report for 2021 published
20213 changesmerger 1 · accounts 1 · industry 1
  • Merger registered in CVR
  • Annual report for 2020 published
  • Industry changed to Engroshandel med andre maskiner og andet udstyr (466900)
202011 changesmanagement 9 · ownership 2
  • Rene Kampen Schrøder stepped down as board member
  • LM GROUP HOLDING A/S registered as owner (100%)
  • LM Wind Power Blades (Spain) S.A. is no longer registered as owner
  • Rene Kampen Schrøder appointed board member
  • Jens Rosenkjær Frederiksen stepped down as deputy board member
  • Thomas Engelstoft Lindharth stepped down as board member
  • Rene Kampen Schrøder stepped down as deputy board member
  • Olivier Gaston René Fontan appointed board member
  • Olivier Gaston René Fontan appointed ceo
  • Duncan Gee Berry stepped down as ceo
  • Duncan Gee Berry stepped down as board member
20198 changesmanagement 8
  • Ksenia Valtycheva appointed board member
  • Rodrigo Carneiro da Cunha Torres stepped down as board member
  • Jeppe Bjørn Jørgensen appointed board member
  • Rene Kampen Schrøder appointed deputy board member
  • Jens Rosenkjær Frederiksen appointed deputy board member
  • Niels Bjarne Hansen stepped down as board member
  • Michael Lyager Andersen stepped down as deputy board member
  • Christian Munk-Christensen stepped down as deputy board member
20187 changesmerger 1 · management 6
  • Merger registered in CVR
  • Duncan Gee Berry appointed ceo
  • Duncan Gee Berry appointed board member
  • Marcus Johannes Cornelis de Jong stepped down as board member
  • Marcus Johannes Cornelis de Jong stepped down as ceo
  • Bjarne Sandager Nielsen appointed chair of the board
  • Søren Høffer stepped down as chair of the board
20173 changesmanagement 3
  • Rodrigo Carneiro da Cunha Torres appointed board member
  • Nicholas Alexander Smith stepped down as chief financial officer
  • Nicholas Alexander Smith stepped down as board member
20163 changesmanagement 3
  • Marcus Johannes Cornelis de Jong appointed board member
  • Richard Andrew Bevan stepped down as board member
  • Miguel Angel Balbuena Gomez stepped down as board member
20158 changesmanagement 8
  • Marcus Johannes Cornelis de Jong appointed ceo
  • Leendert Matheus Schot stepped down as ceo
  • Niels Bjarne Hansen appointed board member
  • Michael Lyager Andersen appointed deputy board member
  • Christian Munk-Christensen appointed deputy board member
  • Thomas Engelstoft Lindharth appointed board member
  • Thomas Engelstoft Lindharth stepped down as deputy board member
  • Morten Kjul Larsen stepped down as board member
20148 changesmanagement 7 · ownership 1
  • Nicholas Alexander Smith appointed chief financial officer
  • Nicholas Alexander Smith appointed board member
  • Damien Harte stepped down as board member
  • Damien Harte stepped down as director
  • Richard Andrew Bevan appointed board member
  • Frank Virenfeldt Nielsen stepped down as board member
  • LM Wind Power Blades (Spain) S.A. registered as owner (100%)
  • Birgit Østergård Pedersen stepped down as board member
20135 changesmanagement 5
  • Leendert Matheus Schot appointed ceo
  • Timothy Dougal Robson stepped down as ceo
  • Frank Virenfeldt Nielsen appointed board member
  • Ole Bertelsen stepped down as board member
  • Morten Gade Christensen stepped down as deputy board member
20122 changesmanagement 2
  • Timothy Dougal Robson appointed ceo
  • Roland Mikael Sundén stepped down as ceo
20117 changesmanagement 7
  • Thomas Engelstoft Lindharth appointed deputy board member
  • Birgit Østergård Pedersen appointed board member
  • Morten Kjul Larsen appointed board member
  • Morten Gade Christensen appointed deputy board member
  • Leif Bøhnke Guldbrandt stepped down as deputy board member
  • Damien Harte appointed board member
  • Damien Harte appointed director
20109 changesmanagement 8 · name 1
  • Dominique Robert de Lisle Yates stepped down as board member
  • Dominique Robert de Lisle Yates stepped down as chief financial officer
  • Ole Bertelsen appointed board member
  • Name changed from LM GLASFIBER A/S to LM WIND POWER A/S
  • Preben Hansen stepped down as board member
  • Søren Høffer appointed chair of the board
  • Dominique Robert de Lisle Yates appointed board member
  • Dominique Robert de Lisle Yates appointed chief financial officer
  • Jørgen Devantier Gade stepped down as board member
20092 changesmanagement 2
  • Søren Friis Knudsen stepped down as chair of the board
  • Miguel Angel Balbuena Gomez appointed board member
20082 changesaddress 1 · management 1
  • Moved to Jupitervej 6, 6000 Kolding
  • Sergio Lopez Garcia stepped down as board member
20079 changesmanagement 8 · address 1
  • Preben Hansen appointed board member
  • Kasmir Klaus Pomykala stepped down as board member
  • Leif Bøhnke Guldbrandt appointed deputy board member
  • Kasmir Klaus Pomykala appointed board member
  • Steen Oluf Elgaard Pedersen stepped down as deputy board member
  • Sergio Lopez Garcia appointed board member
  • Agustin Antonio Lopo Gonzalez stepped down as board member
  • Agustin Antonio Lopo Gonzalez appointed board member
  • Moved to Rolles Møllevej 1, 6640 Lunderskov
20066 changesmanagement 6
  • Jørgen Devantier Gade appointed board member
  • Søren Friis Knudsen appointed chair of the board
  • Carl Alan Mark Florman stepped down as chair of the board
  • Åke Rikard Brattberger stepped down as deputy chair
  • Roland Mikael Sundén appointed ceo
  • Paul Anthony stepped down as ceo
20054 changesmanagement 4
  • Paul Anthony appointed ceo
  • Robert David Mackenzie stepped down as ceo
  • Robert David Mackenzie appointed ceo
  • Carl Alan Mark Florman appointed chair of the board
20041 changemanagement 1
  • Åke Rikard Brattberger appointed deputy chair
20032 changesmerger 1 · management 1
  • Merger registered in CVR
  • Steen Oluf Elgaard Pedersen appointed deputy board member
20012 changesmerger 1 · industry 1
  • Merger registered in CVR
  • Industry changed to Fremstilling af vindmøller og dele hertil (311040)
19951 changecapital 1
  • Share capital changed from 5,000,000 DKK to 10,000,000 DKK
19911 changemerger 1
  • Merger registered in CVR
19851 changefounded 1
  • Registered as LM GLASFIBER A/S

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Source and updates

The information comes from the Danish Central Business Register (Danish Business Authority) and from annual reports filed with the Danish Business Authority. Last synchronised 24/10/2026.

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