2025 was a busy year for Sund & Bælt with new tasks and major challenges

Construction of the world’s longest immersed tunnel continued to be challenged in 2025. By the end of the year, 15 tunnel elements had been cast, corresponding to approximately 2.8 kilometres or just over 15% of the tunnel between Denmark and Germany.

While work on land progressed according to plan, challenges related to the completion, testing and approval of the specialised vessel Ivy have meant that immersion of the tunnel elements is now approximately two years behind the original schedule.

“We have been in negotiations with the companies behind the contracting consortium to resolve the issues and restore progress in the project. This means that immersion of the first tunnel element is now very close, but we will not be able to recover the delay,” says Mikkel Hemmingsen, CEO, Sund & Bælt.

It is not realistic to make up for the lost time later in the project, and the delay will also result in higher overall project costs.

The Fehmarnbelt Project is being established as a user-financed facility within the framework of the Construction Act. A new consolidated schedule for the project will be prepared following the immersion of the first tunnel elements.

Distance-based road toll for lorries in operation

Sund & Bælt has been tasked by the Danish government with responsibility for the development, implementation, collection and enforcement of a road toll for lorries, which came into force in January 2025.

An evaluation by the consultancy firm Implement concluded in autumn 2025 that the scheme had got off to a good start. Despite minor start-up challenges for some hauliers, the vast majority of users pay the road toll correctly, and just a few months into the scheme the share of fines had fallen to a very low level.

Storm surge protection of Copenhagen

In collaboration with the Ministry of Transport and the municipalities of Dragør, Hvidovre, Copenhagen and Tårnby, Sund & Bælt took the first step in autumn towards a comprehensive storm surge protection solution for the Greater Copenhagen area.

The first task will be to carry out an environmental impact assessment of the Airport Dike in order to protect the capital’s critical infrastructure, such as Copenhagen Airport, the Øresund Motorway and the Øresund railway line, against storm surges.

In addition, Sund & Bælt has begun planning work on two large storm surge barriers, which are intended to protect Kalvebod Fælled and the northern end of Copenhagen’s harbour respectively.

Multiple traffic records

Total road traffic across the Storebælt Link and the Øresund Link reached a historic high in 2025. With just under 22.2 million vehicles, a new record was set for the two user-financed links.

The Storebælt Link set a new traffic record in 2025, with around 14 million vehicles crossing the link, representing an increase of 3.4 per cent compared with 2024. In 2025, the Øresund Bridge celebrated its 25th anniversary with 8 million vehicles — the highest traffic volume since its opening.

It was primarily passenger car traffic that drove the increase in traffic figures for both links.

“The record traffic in 2025 shows that Sund & Bælt delivers on our core task: connecting Denmark safely and efficiently — around the clock,” says Mikkel Hemmingsen, CEO, Sund & Bælt.

To maintain high availability, Sund & Bælt schedules the majority of heavy maintenance work during night-time hours, allowing traffic to flow normally during the day. This reduces congestion and increases safety for both road users and employees.

Sund & Bælt’s financial key figures

Profit for the year before fair value adjustments and tax amounted to DKK 2,428 million, an increase of DKK 252 million compared with 2024. The improved result is primarily due to lower interest expenses and a stronger result for the Øresund Link.

Net investment in property, plant and equipment totalled DKK 6,064 million for the year, and the Group’s balance sheet total amounted to DKK 91,810 million as at 31 December 2025.

The Group’s interest-bearing net debt amounted to DKK 72.1 billion. For A/S Storebælt, interest-bearing net debt fell to DKK 15.7 billion. The repayment period has been extended from 37 years to 38 years, meaning that the debt will be fully repaid in 2036. The extension is due to increased investments, which are only partially offset by higher traffic growth.