Goldman-backed trader reports €2.95 million pre-tax profit for 2025, missing targets as European energy volatility declines.
Danish energy trader InCommodities posted a 2025 pre-tax profit of €2.95 million, down from €72.5 million a year earlier. The company cited reduced volatility in European energy markets for the 96% decline, missing its €85 million to €195 million target range.
InCommodities is now entering U.S. physical natural gas markets to offset the downturn. The company previously benefited from extreme price swings in European energy but saw trading opportunities shrink as conditions stabilized.
No immediate market reaction was reported following the earnings miss and expansion announcement.