© 2023 ZITON A/S – Designed by Aveo web&marketing
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“If the world wants to reach its environmental targets, we don’t just need a lot of new wind turbines. We need to keep the ones, we have, up and running. That’s where ZITON steps in.”
Thorsten Jalk, CEO at ZITON, presents the annual report of 2022, and shares his perspectives of ZITON’s role in the transition towards a more sustainable future as well as the prospects for the company.
ZITON is the market-leading service provider of major component replacements in offshore wind. We have carried out more than 1,450 interventions at 68 wind farms across 24 WTG models and 7 countries.
JANUARY - DECEMBER
MARCH - APRIL
MARCH - APRIL
MAY - JUNE
AUGUST - OCTOBER
AUGUST - DECEMBER
With the currently known and relevant projects, the number of installed offshore turbines in Europe is expected to reach a total of 8,880 within the next five years, and all of these will require servicing during their lifespan of at least 25 years.
The strategic direction for ZITON
contains five key elements.
ZITON’s versatile vessel fleet allows for the lowest carbon footprint in the industry as the vessels generally are lighter and smaller than other vessels. Therefore, ZITON has the most carbon efficient vessels to service turbines below 4 MW. These turbines constitute the majority of the installed base and represent an even greater share of major component replacements as they have reached an age beyond six to ten years, where more replacements are needed.
ZITON offers value-added services within the categories of maritime project planning & execution, lift planning & execution, specialised tools & lifting equipment and highly skilled technicians in addition to a jack-up with an experienced crew. In a turnkey solution, ZITON takes the full responsibility for the solution and assumes the risks that we feel better equipped to handle than our customers, and that customers are willing to pay for.
Historically and going forward, turbines have increased in size as a consequence of the aim of reducing the levelized cost of energy for offshore wind. This implies that the required reach of jack-up vessels will continue to increase in the coming years. It is strategically important for ZITON to be able to service our customers as they install new offshore windfarms with larger turbines. Therefore, it is a strategic initiative to continue to expand our fleet with larger vessels.
ZITON continually invests in the digitalisation of the business to improve operations and customer interaction. Achieving operational efficiency during major component replacements in the offshore wind industry is very much subject to weather conditions and also depends on the many touchpoints and the coordination needed between ZITON, customers and suppliers. ZITON seeks to digitise and integrate internal processes and touchpoints in the supply chain.
ZITON and many of our people have been part of the offshore wind industry since its infancy. Offshore wind has evolved in northern Europe since the year 2000, but only in the last few years has it begun to gain traction across the globe. ZITON has gained significant offshore wind experience over the years and is now exploring opportunities to apply this experience in other parts of the world.
ZITON’s core business is to own and operate jack-up vessels. ZITON provides full-service solutions for major component replacements, including maritime project planning & execution, lift planning & execution, specialised tools & lifting equipment, and technicians in addition to jack-ups with experienced crews.
We care for our environment, and our vessels are less harmful to the environment compared to many of the other vessels in the market.
Brian Hemmingsen
Master, ZITON A/S
Annual report for ZITON
Want to get the full overview of our 2022 financial results?
You can download the annual report below.
© 2023 ZITON A/S – Designed by Aveo web&marketing
Dear all,
I am delighted to present ZITON’s annual report, highlighting our significant contributions to the transition towards green energy.
As governments and energy companies worldwide prioritise reducing carbon emissions and investing in sustainable energy, offshore wind has gained significant momentum.
ZITON is playing a critical role in this transition by providing major component exchange services to keep turbines up and running.
The prospects for our company are excellent, and I am proud to lead a team of highly experienced and talented employees who are dedicated to driving this young industry forward. We are committed to recruiting and training the best and brightest talents to ensure our continued success.
At ZITON, we pride ourselves on our “can do, will do” motto, which empowers our competent team to act and get things done. With the freedom to act, we will continue to lead the charge in the transition towards a more sustainable future.
Thorsten Jalk
CEO, ZITON A/S
Set out below are the key financial figures we use in decision-making and to evaluate our performance including prior-year comparative figures.
ZITON presents its consolidated financial statements in accordance with generally accepted accounting practices (IFRS). Accordingly, key figures and ratios have been prepared in accordance with CFA Society Denmark’s online version of ”Recommendations & Ratios”. In addition, ZITON presents APMs according to the Directives of European Securities and Markets Authority (“ESMA”).
Want to get the full overview of our 2022 financial results?
You can download the annual report below.