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Odense Letbane P/S

Partnership limited by sharesCVR 36478497Odense CActive

Odense Letbane P/S is a partnership limited by shares, based in Odense C, active in suburban passenger rail transport, founded in 2015. Equity was negative at the end of 2025 (−DKK 1.5bn). The company made a loss in both 2024 and 2025, most recently DKK 126.4m. 9 people are registered in the company's management and ownership.

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Key figures · financial year 2025

RevenueDKK 88m+12.1% vs. 2024
Net profit−DKK 126.4m+17.9% vs. 2024
Equity−DKK 1.5bn+4.6% vs. 2024
Employees35latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • Revenue rose 12% (2024 → 2025), to DKK 88m.
  • The loss got smaller: from DKK 154m to DKK 126.4m (2024 → 2025).

Employees

  • 14 more employees than a year earlier: 35 (07/2026) against 21 (07/2025).

Management and owners, last 24 months

  • New in management: Peter Schäfer (board member, 27/06/2025), Varun Sivapalan (director, 01/01/2026) and Remi Thomsen (director, 01/05/2026) (+1).
  • Stepped down: Per Thorndal Feddersen (director, 30/04/2026).

Registrations, last 24 months

  • 30/01/2026: Moved to Skibhusvej 52B, 3, 5000 Odense C
  • 01/01/2025: Industry changed to Suburban passenger rail transport (491200)

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 1.8bn−DKK 1.6bn−DKK 1.4bn−DKK 1.2bn−DKK 1bn−DKK 800m−DKK 600m−DKK 400m−DKK 200mDKK 0202020212022202320242025
EquityNet profit
Financial figures for Odense Letbane P/S
202020212022202320242025Change
Revenuenot statednot stated47,05670,17078,51887,998+12.1%
Operating profit (EBIT)−351,132−115,297−993,055−105,757−115,840−87,908+24.1%
Profit before tax––−66,697−86,082−115,840−87,908+24.1%
Net profit−378,901−149,719−1,031,512−143,362−153,961−126,358+17.9%
Total assets1,771,2861,780,039231,162269,230281,538299,102+6.2%
Equity−716,811−764,518−1,674,670−1,570,067−1,552,228−1,480,808+4.6%
Liabilities–––11–––
Cash and cash equivalents103,97744,5912,40634,08326,7509,849−63.2%
Average number of employees383828171617+6.3%

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. Revenue is not stated for 2020, 2021: smaller companies may omit it, and we do not derive it from other figures.

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

−DKK 1.2bn−DKK 1bn−DKK 800m−DKK 600m−DKK 400m−DKK 200mDKK 0202020212022202320242025
Net profitMedian, the industry (3 companies)

Signals from the financial statements

calculated from the 2025 figures

  • Negative equity

    Equity was −DKK 1.5bn at the end of 2025.

    How is this calculated?

    Equity in the latest annual report is below zero.

  • Loss for 6 years in a row

    Net result has been negative in 2020–2025.

    How is this calculated?

    Net result is negative in the two or more latest annual reports in a row.

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 Odense Letbane P/S
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202527/04/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202428/04/2025The companyPDFXBRL
202301/01/2023 – 31/12/202329/04/2024The companyPDFXBRL
202201/01/2022 – 31/12/202228/04/2023The companyPDFXBRL
202101/01/2021 – 31/12/202122/04/2022The companyPDFXBRL
202001/01/2020 – 31/12/202029/04/2021The 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
0510152025303508/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/26
Employees

Position in the industry

3 companies in the database

Comparison with the other companies in suburban passenger rail transport based on the latest financial year.

Equity−DKK 1.5bnNo. 3 of 3
Better than 0% of the companies in the industry
Number of employees35No. 3 of 3
Better than 0% of the companies in the industry

Industry median: gross profit DKK 172.1m, net profit DKK 9.1m, equity DKK 18.8m, 187 employees.

Compared with similar companies

size, age and company form
Rank among similar companies
GroupGross profitEquity
Companies with 20–49 employees9,922 companies in the comparisonnot stated
No. 9,921of 9,922
Better than 0%
Companies that are between 5 and 14 years old33,688 companies in the comparisonnot stated
No. 33,685of 33,687
Better than 0%
All companies of type KAS496 companies in the comparisonnot stated
No. 496of 496
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

Suburban passenger rail transport
Gross profit
  1. Odense Letbane P/S–
  2. Metro Service A/SDKK 322.8m
  3. Keolis Letbaner A/SDKK 21.3m
Net profit
  1. Odense Letbane P/S−DKK 126.4m
  2. Metro Service A/SDKK 43.6m
  3. Keolis Letbaner A/SDKK 9.1m
Equity
  1. Odense Letbane P/S−DKK 1.5bn
  2. Metro Service A/SDKK 259.5m
  3. Keolis Letbaner A/SDKK 18.8m
Employees
  1. Odense Letbane P/S35
  2. Metro Service A/S892
  3. Keolis Letbaner A/S227

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
  • Odense Kommune100%
Odense Letbane P/S

Management

8 active registrations

Executive management

Executive management at Odense Letbane P/S
NameRoleAppointed
Dan RavnDirector01/03/2022
Varun SivapalanDirector01/01/2026
Remi ThomsenDirector01/05/2026

Board of directors

Board of directors at Odense Letbane P/S
NameRoleAppointed
Jesper RasmussenChair of the board02/03/2015
Jesper Sondrup RosenerBoard member02/03/2015
Peter KrogsgaardBoard member29/01/2021
Peter SchäferBoard member27/06/2025
Randi SkogstadBoard member27/05/2026
Founders
Focus Advokater P/S
Former management (16)
Former management at Odense Letbane P/S
NameRoleAppointedResigned
Tine Seehausen KnudsenBoard member16/01/201502/03/2015
Hans Henrik BankeBoard member16/01/201502/03/2015
Hans Henrik BankeDirector16/01/201502/03/2015
Jesper HauschildtBoard member16/01/201502/03/2015
Peter SchäferBoard member02/03/201523/09/2015
Johannes SlothBoard member02/03/201513/06/2017
Birgitte AndersenBoard member02/03/201529/01/2021
Mogens HagelskærDirector02/03/201531/12/2021
Per Thorndal FeddersenDirector24/03/201501/01/2021
Niels Walther-RasmussenBoard member19/11/201531/12/2022
Steen LykkeDirector01/12/201528/02/2022
Sture Magnus JonassonBoard member13/06/201729/01/2021
Michael Møller JalkingDirector01/01/202128/02/2023
Kjeld Zacho JørgensenBoard member29/01/202131/12/2022
Thomas SjøgrenDirector01/03/202228/02/2023
Per Thorndal FeddersenDirector01/03/202330/04/2026

Signing rule: Selskabet tegnes af den samlede bestyrelse, af to bestyrelsesmedlemmer i forening med en direktør  eller af bestyrelsesformanden i forening med en direktør.

Address and production units

1 active production units

Skibhusvej 52B
5000 Odense C

Odense Municipality · Postcode 5000

Production units
Production unitAddressEmployeesP number
Odense Letbane P/SSkibhusvej 52B, 3, 5000 Odense C341020025170

Purpose

Selskabets formål er at stå for projektering, anlæg og drift af Odense Letbane.

The purpose is quoted from the register in Danish.

Changes year by year

63 registered events
20266 changesmanagement 4 · accounts 1 · address 1
  • Randi Skogstad appointed board member
  • Remi Thomsen appointed director
  • Per Thorndal Feddersen stepped down as director
  • Annual report for 2025 published
  • Moved to Skibhusvej 52B, 3, 5000 Odense C
  • Varun Sivapalan appointed director
20253 changesmanagement 1 · accounts 1 · industry 1
  • Peter Schäfer appointed board member
  • Annual report for 2024 published
  • Industry changed to Suburban passenger rail transport (491200)
20243 changesaccounts 1 · address 2
  • Annual report for 2023 published
  • Moved to Søndre Hospitalsvej 6B, 5260 Odense S
  • Moved to Søndre Hospitalsvej 6, 5260 Odense S
20235 changesaccounts 1 · management 3 · industry 1
  • Annual report for 2022 published
  • Per Thorndal Feddersen appointed director
  • Thomas Sjøgren stepped down as director
  • Michael Møller Jalking stepped down as director
  • Industry changed to S-togstrafik, metro og andre nærbaner (493120)
20227 changesmanagement 5 · address 1 · accounts 1
  • Kjeld Zacho Jørgensen stepped down as board member
  • Niels Walther-Rasmussen stepped down as board member
  • Moved to Søndre Hospitalsvej 6, 5260 Odense S
  • Annual report for 2021 published
  • Thomas Sjøgren appointed director
  • Dan Ravn appointed director
  • Steen Lykke stepped down as director
20219 changesmanagement 7 · address 1 · accounts 1
  • Mogens Hagelskær stepped down as director
  • Moved to Odeons Kvarter 18, st, 5000 Odense C
  • Annual report for 2020 published
  • Peter Krogsgaard appointed board member
  • Kjeld Zacho Jørgensen appointed board member
  • Sture Magnus Jonasson stepped down as board member
  • Birgitte Andersen stepped down as board member
  • Michael Møller Jalking appointed director
  • Per Thorndal Feddersen stepped down as director
20201 changeaddress 1
  • Moved to Odeons Kvarter 18, st, 5000 Odense C
20173 changesmanagement 2 · address 1
  • Sture Magnus Jonasson appointed board member
  • Johannes Sloth stepped down as board member
  • Moved to Odeons Kvarter 18, st, 5000 Odense C
20161 changeaddress 1
  • Moved to Thomas B. Thriges Gade 32, 5000 Odense C
201525 changesmanagement 18 · name 1 · address 1 · industry 1 · ownership 3 · founded 1
  • Steen Lykke appointed director
  • Niels Walther-Rasmussen appointed board member
  • Peter Schäfer stepped down as board member
  • Per Thorndal Feddersen appointed director
  • Name changed from ODENSE LB AF 2015 P/S to Odense Letbane P/S
  • Moved to Thomas B. Thriges Gade 32, 5000 Odense C
  • Industry changed to Construction of railways and underground railways (421200)
  • Jesper Sondrup Rosener appointed board member
  • Mogens Hagelskær appointed director
  • Jesper Rasmussen appointed chair of the board
  • Birgitte Andersen appointed board member
  • Johannes Sloth appointed board member
  • Peter Schäfer appointed board member
  • Hans Henrik Banke stepped down as board member
  • Tine Seehausen Knudsen stepped down as board member
  • Jesper Hauschildt stepped down as board member
  • Hans Henrik Banke stepped down as director
  • Odense Kommune registered as owner (100%)
  • FOCUS ADVOKATER P/S is no longer registered as owner
  • Registered as ODENSE LB AF 2015 P/S
  • Hans Henrik Banke appointed board member
  • Tine Seehausen Knudsen appointed board member
  • Jesper Hauschildt appointed board member
  • Hans Henrik Banke appointed director
  • FOCUS ADVOKATER P/S registered as owner (100%)

Related companies

Same people in management

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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.

View in CVRReport a correction