Svanehøj Danmark A/S has increased revenue and earnings for the third year in a row. The new strategy "Powering a better future" emphasises Svanehøj’s commitment to facilitate the green transition.
In 2021, Svanehøj continued its strong development with increasing revenue and order intake. The company realised a turnover of DKK 439 million against DKK 389 million in 2020, and an EBITDA before non-recurring items of DKK 67 million against DKK 64 million in 2020.
- 2021 was a fantastic year for Svanehøj and we expect that 2022 will be even better due to a very strong order backlog and increased aftersales activities, says CEO Søren Kringelholt Nielsen.
Svanehøj reached an all-time high order intake of more than DKK 740 million, nearly twice as high as in 2020, demonstrating the accelerated demand for its leading niche and renewable ready product offering and strong aftermarket capabilities.
Acquisition of Wärtsilä Tank Control Systems
Through a takeover of Wärtsilä Tank Control Systems in early 2022, Svanehøj has further strengthened the business with highly specialised competencies within production, sales and service of LNG tank gauging systems and hydraulic LPG safety valve systems.
This investment provides attractive opportunities in the unexploited land-based segment for high-end liquefied gas handling equipment and aftermarket activities with a significant installed base across LNG terminals, transportation, and storage.
Following the acquisition of Tank Control Systems, Svanehøj has established Svanehøj France as a new independent business unit for land-based activities in the city of Calais.
New Strategy: “Powering a better future”
Following the significant growth in recent years, Svanehøj entered 2022 with a new business strategy and an ambition to double its turnover to DKK 1 billion by the end of 2026.
The new strategy is centered around the new value proposition “Powering a Better Future” and emphasises Svanehøj’s commitment to facilitate the green transition by staying at the forefront of innovation and offer the most environmentally friendly solutions.
Additionally, while the strategy is focused on the marine industry, Svanehøj aims to expand into other segments such as Power-to-X and carbon capture and storage (CCS). Svanehøj’s versatile cargo pumps for liquid gas are already also used for industrial pumping of liquid CO2. In early 2022 Svanehøj was awarded a contract to supply pump systems for two CO2 carriers that will transport liquid CO2 to the Northern Lights storage facilities in Norway.