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FY 2022: Svanehøj reports record revenue and profit
Increasing demand for marine pumps for liquefied gas and a strongly growing service business ensured Svanehøj a growth in revenue of almost 60% and a doubling of the result in 2022 compared to the previous year. At the same time, Svanehøj succeeded in maintaining a record high level of order intake of more than DKK 740 million.
In 2022, Svanehøj Danmark continued its strong development and achieved the highest revenue and profit in company history. Svanehøj Danmark realized revenue of DKK 697 million against DKK 439 million in 2021 and an EBITDA before non-recurring items of DKK 134 million against DKK 67 million in 2021.
The growth was even more impressive in Svanehøj Group, which also includes Hamworthy Pumps Singapore. Here, revenue increased from DKK 611 million to DKK 967 million. EBITDA before non-recurring items improved from DKK 58 million to DKK 161 million.
- Our remarkable performance in 2022 is very satisfactory. It shows that we are succeeding in our strategy to make Svanehøj a globally leading specialist in handling critical liquids. We have maintained a record order intake of more than DKK 740 million, which bodes well for the coming years, says Søren Ø. Sørensen, Chairman of the Board.
Pump orders for ammonia- and methanol-powered ships
Among many highlights in 2022, CEO Søren Kringelholt Nielsen emphasizes that Svanehøj won strategically important pump orders for both ammonia- and methanol-powered ships and CO2 carriers. At the same time, Svanehøj established itself in the growing market for LNG tanks and terminals by acquiring Wärtsilä Tank Control Systems, a specialist in high-end measuring systems for gas tanks.
- 2022 showed that Svanehøj has a promising future as a supplier for the energy transition in the hard-to-abate sectors. I am proud that we managed to handle a record order backlog while completely remodeling the factory. It was not easy, but all employees showed extraordinary flexibility, says Søren Kringelholt Nielsen.