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Xo Shipping A/S

Public limited companyCVR 33080212HellerupActive

Xo Shipping A/S is a public limited company, based in Hellerup, active in sea and coastal freight water transport, founded in 2010. The company made a loss in both 2024 and 2025, most recently DKK 5.7m. 6 people are registered in the company's management and ownership.

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Key figures · financial year 2025

RevenueDKK 631.1m+1.3% vs. 2024
Net profit−DKK 5.7m−428.5% vs. 2024
EquityDKK 34m−8.8% vs. 2024
Employees27latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • Gross profit fell 44% (2024 → 2025), to DKK 3.8m.
  • Revenue rose 1% (2024 → 2025), to DKK 631.1m.
  • The loss grew: from DKK 1.1m to DKK 5.7m (2024 → 2025).
  • Equity fell 9% (2024 → 2025), to DKK 34m.

Employees

  • 4 fewer employees than a year earlier: 27 (08/2026) against 31 (08/2025).

Management and owners, last 24 months

  • New in management: Sinan Utlu (director, 19/11/2024), Morten Vesth (board member, 15/04/2026) and Mikkel Rabjerg (board member, 19/08/2026) (+3).
  • Stepped down: Christian Philip Levin (board member, 19/08/2026), Kim Holberg Pihl (director, 11/03/2025) and Erik Svanberg (board member, 19/11/2024) (+2).
  • New owners registered: InVesth ApS (26/06/2025), West Coast Horizon ApS (26/06/2025) and Indigo Shipping A/S (20/05/2026) (+3).
  • No longer registered as owner: Indigo Shipping A/S (19/05/2026), InVesth ApS (25/06/2025) and Ni´er Holding ApS (20/05/2026) (+3).

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 10mDKK 0DKK 10mDKK 20mDKK 30mDKK 40mDKK 50mDKK 60m202020212022202320242025
EquityNet profit
Financial figures for Xo Shipping A/S
202020212022202320242025Change
Revenue232,853793,647831,896557,724622,975631,116+1.3%
Gross profit16,32672,50432,34510,8516,7193,767−43.9%
Operating profit (EBIT)9,50349,31320,9534,0151,511−3,494−331.3%
Profit before tax9,63252,10617,5565,0513,530−3,240−191.8%
Net profit7,10446,03715,9962,799−1,069−5,651−428.5%
Total assets33,553125,844114,79084,32484,11385,138+1.2%
Equity15,10456,64155,63739,24337,29633,996−8.8%
Liabilities18,44969,20359,15345,08146,81751,142+9.2%
Cash and cash equivalents18,88241,87155,44526,74319,60821,350+8.9%
Average number of employees202532404551+13.3%

Source: annual reports filed with the Danish Business Authority (XBRL). Group figures; 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 0DKK 10mDKK 20mDKK 30mDKK 40mDKK 50mDKK 60mDKK 70m202020212022202320242025
Gross profitMedian, the industry (108 companies)

Signals from the financial statements

calculated from the 2025 figures

  • Loss for 2 years in a row

    Net result has been negative in 2024–2025.

    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 Xo Shipping A/S
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202528/06/2026The groupPDF not statedXBRL
202401/01/2024 – 31/12/202402/07/2025The groupPDFXBRL
202301/01/2023 – 31/12/202305/07/2024The groupPDFXBRL
202201/01/2022 – 31/12/202219/04/2023The groupPDFXBRL
202101/01/2021 – 31/12/202129/03/2022The groupPDFXBRL
202001/01/2020 – 31/12/202027/04/2021The groupPDFXBRL

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
0510152025303509/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/2608/26
Employees

Position in the industry

108 companies in the database

Comparison with the other companies in sea and coastal freight water transport based on the latest financial year.

Gross profitDKK 3.8mNo. 59 of 103
Better than 43% of the companies in the industry
EquityDKK 34mNo. 41 of 108
Better than 63% of the companies in the industry
Number of employees27No. 27 of 108
Better than 76% of the companies in the industry

Industry median: gross profit DKK 5.1m, net profit DKK 919k, equity DKK 15.4m, 13 employees.

DKK 448kDKK 2.7mDKK 15.8mDKK 93.5mDKK 306.2mHere
Distribution of gross profit for 88 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. 8,304of 9,892
Better than 16%
No. 1,057of 9,922
Better than 89%
Same industry and 20–49 employees19 companies in the comparison
No. 14of 19
Better than 28%
No. 7of 19
Better than 67%
Companies that are between 15 and 29 years old24,910 companies in the comparison
No. 11,520of 24,791
Better than 54%
No. 3,101of 24,909
Better than 88%
All companies of type A/S18,025 companies in the comparison
No. 12,957of 17,786
Better than 27%
No. 4,570of 18,024
Better than 75%

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

Sea and coastal freight water transport
Gross profit
  1. Xo Shipping A/SDKK 3.8m
  2. Unifeeder A/SDKK 554.1m
  3. Royal Arctic Line A/SDKK 512.4m
Net profit
  1. Xo Shipping A/S−DKK 5.7m
  2. Unifeeder A/SDKK 208.9m
  3. Royal Arctic Line A/SDKK 10.9m
Equity
  1. Xo Shipping A/SDKK 34m
  2. Unifeeder A/SDKK 2.5bn
  3. Royal Arctic Line A/SDKK 648.4m
Employees
  1. Xo Shipping A/S27
  2. Unifeeder A/S146
  3. Royal Arctic Line A/S40

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
  • InVesth ApS15%
  • West Coast Horizon ApS10%
  • Indigo Shipping A/S25%
  • XO Family ApS25%
  • Linika Invest ApS5%
Xo Shipping A/S
Subsidiaries and ownership shares

Subsidiaries are shown only if they are in the database.

Management

5 active registrations

Executive management

Executive management at Xo Shipping A/S
NameRoleAppointed
Sinan UtluDirector19/11/2024

Board of directors

Board of directors at Xo Shipping A/S
NameRoleAppointed
Kent HedegaardChair of the board04/05/2015
Morten VesthBoard member15/04/2026
Mikkel RabjergBoard member19/08/2026
Nicolai Stehn KohlsBoard member19/08/2026
Founders
Indigo Shipping A/S
Former management (12)
Former management at Xo Shipping A/S
NameRoleAppointedResigned
Torkel Baden OlrikChair of the board19/08/201004/05/2015
Christian Philip LevinBoard member19/08/201019/08/2026
Kim Holberg PihlBoard member19/08/201011/04/2017
Kim Holberg PihlCEO10/12/201410/01/2017
Rico Romme NielsenDirector10/12/201419/03/2019
Ejner Kiel BonderupCEO10/01/201719/03/2019
Ejner Kiel BonderupBoard member11/04/201719/03/2019
Kim Holberg PihlDirector11/04/201711/03/2025
Erik SvanbergBoard member19/03/201919/11/2024
Alexander SillehovedDirector19/03/201902/03/2022
Kim Holberg PihlBoard member19/11/202405/01/2026
Sinan UtluBoard member05/01/202615/04/2026

Signing rule: Selskabet tegnes af en direktør i forening med et bestyrelsesmedlem, af 2 bestyrelsesmedlemmer i forening eller af den samlede bestyrelse.

Address and production units

1 active production units

Tuborg Havnevej 18
2900 Hellerup

Gentofte Municipality · Postcode 2900

Other companies at the address (2)

Production units
Production unitAddressEmployeesP number
XO SHIPPING A/STuborg Havnevej 18, st, 2900 Hellerup271016252294

Purpose

Selskabets formål er at drive shippingvirksomhed og hermed beslægtet virksomhed.

The purpose is quoted from the register in Danish.

Changes year by year

84 registered events
202613 changesmanagement 7 · accounts 1 · ownership 5
  • Nicolai Stehn Kohls appointed board member
  • Mikkel Rabjerg appointed board member
  • Christian Philip Levin stepped down as board member
  • Annual report for 2025 published
  • Linika Invest ApS registered as owner (5%)
  • XO Family ApS registered as owner (25%)
  • INDIGO SHIPPING A/S registered as owner (25%)
  • NI´ER HOLDING ApS is no longer registered as owner
  • INDIGO SHIPPING A/S is no longer registered as owner
  • Morten Vesth appointed board member
  • Sinan Utlu stepped down as board member
  • Sinan Utlu appointed board member
  • Kim Holberg Pihl stepped down as board member
20259 changesaccounts 1 · ownership 7 · management 1
  • Annual report for 2024 published
  • Mikkel Rabjerg registered as owner (15%)
  • Mikkel Rabjerg is no longer registered as owner
  • West Coast Horizon ApS registered as owner (10%)
  • InVesth ApS registered as owner (15%)
  • XO SHIPPING A/S is no longer registered as owner
  • Mikkel Rabjerg is no longer registered as owner
  • InVesth ApS is no longer registered as owner
  • Kim Holberg Pihl stepped down as director
20244 changesmanagement 3 · accounts 1
  • Kim Holberg Pihl appointed board member
  • Sinan Utlu appointed director
  • Erik Svanberg stepped down as board member
  • Annual report for 2023 published
20234 changesownership 3 · accounts 1
  • XO SHIPPING A/S registered as owner (15%)
  • Vig Lyng Holding ApS is no longer registered as owner
  • Annual report for 2022 published
  • Mikkel Rabjerg registered as owner (5%)
20222 changesaccounts 1 · management 1
  • Annual report for 2021 published
  • Alexander Sillehoved stepped down as director
20215 changesownership 4 · accounts 1
  • NI´ER HOLDING ApS registered as owner (15%)
  • Vig Lyng Holding ApS registered as owner (15%)
  • NI´ER HOLDING ApS is no longer registered as owner
  • Vig Lyng Holding ApS is no longer registered as owner
  • Annual report for 2020 published
20209 changesownership 8 · capital 1
  • InVesth ApS registered as owner (10%)
  • Share capital changed from 500,000 DKK to 53,018,400 DKK
  • INDIGO SHIPPING A/S registered as owner (33.33%)
  • NI´ER HOLDING ApS registered as owner (20%)
  • Holdingselskabet MKH ApS is no longer registered as owner
  • XO Holding af 2017 ApS is no longer registered as owner
  • ROMCO INVEST ApS is no longer registered as owner
  • Kevin Bergenser is no longer registered as owner
  • NI´ER HOLDING ApS is no longer registered as owner
201911 changesownership 6 · management 5
  • Vig Lyng Holding ApS registered as owner (20%)
  • Vig Lyng Holding ApS is no longer registered as owner
  • Holdingselskabet MKH ApS registered as owner (10%)
  • Morten Kiellberg Hansen is no longer registered as owner
  • XO Holding af 2017 ApS registered as owner (33.33%)
  • XO Holding af 2017 ApS is no longer registered as owner
  • Erik Svanberg appointed board member
  • Alexander Sillehoved appointed director
  • Ejner Kiel Bonderup stepped down as board member
  • Ejner Kiel Bonderup stepped down as ceo
  • Rico Romme Nielsen stepped down as director
20182 changesownership 2
  • Vig Lyng Holding ApS registered as owner (10%)
  • Alexander Sillehoved is no longer registered as owner
20177 changesownership 2 · management 5
  • XO Holding af 2017 ApS registered as owner (50%)
  • INDIGO SHIPPING A/S is no longer registered as owner
  • Kim Holberg Pihl appointed director
  • Ejner Kiel Bonderup appointed board member
  • Kim Holberg Pihl stepped down as board member
  • Ejner Kiel Bonderup appointed ceo
  • Kim Holberg Pihl stepped down as ceo
20164 changesownership 4
  • Alexander Sillehoved registered as owner (5%)
  • NI´ER HOLDING ApS registered as owner (10%)
  • INDIGO SHIPPING A/S registered as owner (50%)
  • INDIGO SHIPPING A/S is no longer registered as owner
20157 changesaddress 1 · management 2 · ownership 4
  • Moved to Tuborg Havnevej 18, st, 2900 Hellerup
  • Kent Hedegaard appointed chair of the board
  • Torkel Baden Olrik stepped down as chair of the board
  • ROMCO INVEST ApS registered as owner (10%)
  • Morten Kiellberg Hansen registered as owner (5%)
  • INDIGO SHIPPING A/S registered as owner (66.67%)
  • Kevin Bergenser registered as owner (5%)
20142 changesmanagement 2
  • Rico Romme Nielsen appointed director
  • Kim Holberg Pihl appointed ceo
20131 changeaddress 1
  • Moved to Strandvejen 56, st, 2900 Hellerup
20104 changesfounded 1 · management 3
  • Registered as XO SHIPPING A/S
  • Torkel Baden Olrik appointed chair of the board
  • Kim Holberg Pihl appointed board member
  • Christian Philip Levin appointed board member

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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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