Vestværftet ApS

Private limited companyCVR 18915642Hvide SandeActive

Vestværftet ApS is a private limited company, based in Hvide Sande, active in building of ships and floating structures, founded in 1995. Equity was negative at the end of 2025 (−DKK 41.8m). The company made a loss in both 2024 and 2025, most recently DKK 46m. 7 people are registered in the company's management and ownership.

PDF report Compare

Key figures · financial year 2025

Gross profit−DKK 13.9m−165.7% vs. 2024

Net profit−DKK 46m−1,371% vs. 2024

Equity−DKK 41.8m−1,108% vs. 2024

Employees57latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

Gross profit fell 166% (2024 → 2025), to −DKK 13.9m.
The loss grew: from DKK 3.1m to DKK 46m (2024 → 2025).
Equity turned negative: −DKK 41.8m (2024 → 2025).

Employees

12 fewer employees than a year earlier: 57 (08/2026) against 69 (08/2025).

Management and owners, last 24 months

New in management: Michael Boel Olesen (ceo, 01/05/2025).
Stepped down: Kristen Madsen (director, 30/05/2025).
New owners registered: Vestværftet ApS (20/05/2026).
No longer registered as owner: KM Holding HVS ApS (20/05/2026).

Registrations, last 24 months

01/01/2025: Industry changed to Building of ships and floating structures (301100)

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

EquityNet profit

Financial figures for Vestværftet ApS
	2020	2021	2022	2023	2024	2025	Change
Revenue	not stated	not stated	not stated	not stated	not stated	not stated	–
Gross profit	35,663	33,117	14,499	21,788	21,143	−13,885	−165.7%
Operating profit (EBIT)	10,123	9,651	−8,141	−1,897	−2,739	−43,502	−1,488.3%
Profit before tax	9,227	8,572	−9,318	−2,257	−3,965	−43,947	−1,008.4%
Net profit	7,192	6,668	−7,544	−1,795	−3,125	−45,976	−1,371%
Total assets	65,064	97,373	68,222	71,514	93,124	142,848	+53.4%
Equity	19,028	18,171	6,064	8,766	4,150	−41,826	−1,108%
Liabilities	43,369	76,099	60,158	60,848	87,899	147,205	+67.5%
Cash and cash equivalents	29,631	671	3,991	6,313	1,636	71	−95.6%
Average number of employees	47	48	48	45	43	51	+18.6%

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, 2022, 2023, 2024, 2025: 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

Compare with the industry (15 companies)

Gross profitMedian, the industry (15 companies)

Signals from the financial statements

calculated from the 2025 figures

Negative equity
Equity was −DKK 41.8m at the end of 2025.
How is this calculated?
Equity in the latest annual report is below zero.
Loss for 4 years in a row
Net result has been negative in 2022–2025.
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 Vestværftet ApS
Financial year	Period	Published	Figures for	Documents
2025	01/07/2024 – 30/06/2025	26/11/2025	The company	PDF not statedXBRL
2024	01/07/2023 – 30/06/2024	06/12/2024	The company	PDF XBRL
2023	01/07/2022 – 30/06/2023	16/01/2024	The company	PDF XBRL
2022	01/07/2021 – 30/06/2022	02/01/2023	The company	PDF XBRL
2021	01/07/2020 – 30/06/2021	03/12/2021	The company	PDF XBRL
2020	01/07/2019 – 30/06/2020	18/11/2020	The company	PDF XBRL

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

Employees

Position in the industry

15 companies in the database

Comparison with the other companies in building of ships and floating structures based on the latest financial year.

Gross profit−DKK 13.9mNo. 15 of 15

Better than 0% of the companies in the industry

Equity−DKK 41.8mNo. 15 of 15

Better than 0% of the companies in the industry

Number of employees57No. 5 of 15

Better than 71% of the companies in the industry

Industry median: gross profit DKK 10.1m, net profit DKK 804k, equity DKK 6.5m, 28 employees.

Distribution of gross profit for 12 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
Group	Gross profit	Equity
Companies with 50–199 employees4,467 companies in the comparison	No. 4,381of 4,412 Better than 1%	No. 4,437of 4,466 Better than 1%
Companies that are at least 30 years old10,276 companies in the comparison	No. 10,134of 10,152 Better than 0%	No. 10,260of 10,275 Better than 0%
All companies of type ApS66,508 companies in the comparison	No. 66,317of 66,379 Better than 0%	No. 66,417of 66,505 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

Building of ships and floating structures

Gross profit

Vestværftet ApS−DKK 13.9m
Viking Life-saving Equipment A/SDKK 1.9bn
Karstensens Skibsværft A/SDKK 276.3m

Net profit

Vestværftet ApS−DKK 46m
Viking Life-saving Equipment A/SDKK 360.2m
Karstensens Skibsværft A/S−DKK 37.6m

Equity

Vestværftet ApS−DKK 41.8m
Viking Life-saving Equipment A/SDKK 1.6bn
Karstensens Skibsværft A/SDKK 164.8m

Employees

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

Vestværftet Holding ApS50%
NK Johansen Holding ApS25%
Vestværftet ApS25% · 0% votes

Vestværftet ApS

Subsidiaries and ownership shares

Vestværftet ApS25%

Subsidiaries are shown only if they are in the database.

Management

3 active registrations

Executive management

Executive management at Vestværftet ApS
Name	Role	Appointed
Ove Lodberg Kristensen	Director	11/10/2010
Nicolai Kilde Johansen	Director	29/11/2019
Michael Boel Olesen	CEO	01/05/2025

Auditor: BDO Statsautoriseret Revisionspartnerselskab
Founders: Ove Lodberg Kristensen, Bent Lodberg Kristensen, Ernst Kristensen, Leo Emil Nielsen

Former management (4)

Former management at Vestværftet ApS
Name	Role	Appointed	Resigned
Ernst Kristensen	Director	08/11/1995	29/11/2019
Leo Emil Nielsen	Director	08/11/1995	11/10/2010
Brian Sangill	Director	11/10/2010	08/04/2015
Kristen Madsen	Director	29/11/2019	30/05/2025

Signing rule: Selskabet tegnes af en direktør.

Address and production units

1 active production units

Nordhavnskaj 12
6960 Hvide Sande

Ringkøbing-Skjern Municipality · Postcode 6960

Production units
Production unit	Address	Industry	Employees	P number
VESTVÆRFTET APS	Nordhavnskaj 12, 6960 Hvide Sande	Building of ships and floating structures	57	1003606117

Purpose

Selskabets formål er at drive håndværk, industri og handel med særlig henblik på at servicere fiskerflåden.

The purpose is quoted from the register in Danish.

Changes year by year

41 registered events

82015

02016

32017

02018

32019

12020

72021

02022

12023

22024

42025

22026

20262 changesownership 2

20/05OwnershipVESTVÆRFTET ApS registered as owner (25%)
20/05OwnershipKM Holding HVS ApS is no longer registered as owner

20254 changesaccounts 1 · management 2 · industry 1

26/11AccountsAnnual report for 2025 published
30/05ManagementKristen Madsen stepped down as director
01/05ManagementMichael Boel Olesen appointed ceo
01/01IndustryIndustry changed to Building of ships and floating structures (301100)

20242 changesaccounts 2

06/12AccountsAnnual report for 2024 published
16/01AccountsAnnual report for 2023 published

20231 changeaccounts 1

02/01AccountsAnnual report for 2022 published

20217 changesownership 6 · accounts 1

21/12OwnershipKM Holding HVS ApS registered as owner (25%)
21/12OwnershipNK Johansen Holding ApS registered as owner (25%)
21/12OwnershipVESTVÆRFTET HOLDING ApS registered as owner (50%)
20/12OwnershipKM Holding HVS ApS is no longer registered as owner
20/12OwnershipNK Johansen Holding ApS is no longer registered as owner
20/12OwnershipVESTVÆRFTET HOLDING ApS is no longer registered as owner
03/12AccountsAnnual report for 2021 published

20201 changeaccounts 1

18/11AccountsAnnual report for 2020 published

20193 changesmanagement 3

29/11ManagementKristen Madsen appointed director
29/11ManagementNicolai Kilde Johansen appointed director
29/11ManagementErnst Kristensen stepped down as director

20173 changesownership 3

22/12OwnershipKM Holding HVS ApS registered as owner (15%)
22/12OwnershipNK Johansen Holding ApS registered as owner (15%)
22/12OwnershipA/S HVIDE SANDE SKIBS- OG BAADEBYGGERI is no longer registered as owner

20158 changesownership 7 · management 1

22/12OwnershipVESTVÆRFTET HOLDING ApS registered as owner (66.67%)
22/12OwnershipA/S HVIDE SANDE SKIBS- OG BAADEBYGGERI registered as owner (25%)
21/12OwnershipVESTVÆRFTET HOLDING ApS is no longer registered as owner
18/12OwnershipVESTVÆRFTET HOLDING ApS registered as owner (100%)
17/12OwnershipA/S HVIDE SANDE SKIBS- OG BAADEBYGGERI is no longer registered as owner
17/12OwnershipVESTVÆRFTET HOLDING ApS is no longer registered as owner
08/04ManagementBrian Sangill stepped down as director
01/01OwnershipA/S HVIDE SANDE SKIBS- OG BAADEBYGGERI registered as owner (25%)

20121 changeownership 1

25/05OwnershipVESTVÆRFTET HOLDING ApS registered as owner (66.67%)

20103 changesmanagement 3

11/10ManagementOve Lodberg Kristensen appointed director
11/10ManagementBrian Sangill appointed director
11/10ManagementLeo Emil Nielsen stepped down as director

20081 changeindustry 1

01/01IndustryIndustry changed to Building of ships and floating structures (301100)

20071 changeaddress 1

01/01AddressMoved to Nordhavnskaj 12, 6960 Hvide Sande

20011 changeindustry 1

01/01IndustryIndustry changed to Production of electricity from non-renewable sources (351100)

19953 changesfounded 1 · management 2

08/11FoundedRegistered as VESTVÆRFTET ApS
08/11ManagementErnst Kristensen appointed director
08/11ManagementLeo Emil Nielsen appointed director

Related companies

Same industry in Ringkøbing-Skjern

A/S Hvide Sande Skibs- og Baadebyggeri71 employees

See all →

Same people in management

Ravnsgaard Metal A/Svia Michael Boel Olesen
Privathospitalet Kollund A/Svia Michael Boel Olesen
Exodraft Energy HP A/Svia Michael Boel Olesen

Largest in the industry

Viking Life-saving Equipment A/SDKK 1.9bn
Karstensens Skibsværft A/SDKK 276.3m
HVACON Marine Systems A/SDKK 72.6m
Eows ApSDKK 62.7m
Pureteq A/SDKK 38.9m
A/S Hvide Sande Skibs- og BaadebyggeriDKK 34.9m

See all →

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 CVR Report a correction