Danske Commodities delivered earnings before tax of €88 million in 2025, demonstrating resilience in a year marked by unusually low volatility across European energy markets. The key development is the company’s ability to sustain profitability despite subdued trading conditions, with calm gas and power markets limiting arbitrage opportunities typically critical for trading firms. Stable pricing - driven in part by weather patterns that failed to trigger expected demand swings—kept spreads narrow througho ...