FY2020: Strong growth and increased earnings

FY2020: Strong growth and increased earnings
Svanehøj Danmark has increased profit by 400% in 2020. Despite COVID-19, the company management expects an even better result in 2021.

 

Strong commercial momentum, continued growth in the core business, and a satisfactory financial result.

 

These are the headlines for the financial year 2020 at Svanehøj Danmark A/S. Turnover amounted to DKK 388 million against DKK 288 million in 2019. Earnings before tax rose from DKK 13.2 million to DKK 54.8 million.

 

Based on a positive brand momentum, focused sales initiatives, and a strong order book, Svanehøj Danmark expects continued high business activity in 2021.

 

While global investments in the marine and offshore markets remain at a historically low level, Svanehøj Danmark expects a gradual recovery in vessel contracting and offshore upstream activity going forward.

 

Sales of the patented Svanehøj DW Fuel gas pump tripled in 2020, and expectations are for significant growth to continue.

 

“The green transition of international shipping is underway, and we are beginning to see a shift from oil to gas. A shift that will gain further momentum over the coming years” says CEO Søren K. Nielsen.

 

In 2020 Svanehøj expanded its Service Department with the acquisition of the FORCE Technology Marine Equipment Service. Svanehøj has thus become a full-scope cargo system service provider, with competencies in servicing and calibrating pumps, compressors, valves and instrumentation. The new service setup has already secured orders and framework agreements with several major customers.

 

Read more:
Annual Report 2020 Svanehøj Danmark AS

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