Yet Another Satisfactory Annual Result for DESMI

The annual report for 2015, which was adopted at the recent annual general meeting, shows a profit after tax of DKK 45.0 million based on a turnover of DKK 871 million. The profit is in accordance with the budget and is considered satisfactory.

“2015 has been a year with declining activities in the marine market with a decreasing number of contracts for new builds, just as the low oil prices have affected investments in more of our market segments. Furthermore, the sale of ballast water treatment systems has been affected by the long-awaited ratification of the IMO con-vention, which is however now expected to be finally ratified in the near future. Even if the market conditions have not been favourable in 2015 and will probably not be so in 2016, we maintain focus on market development and development of efficient pump solutions and concepts in co-operation with our many customers”, says Group CEO Henrik Sørensen and continues:

“We allow ourselves to maintain a growth strategy in all the segments that we are operating in: marine & off-shore, industry, oil spill response, defence & fuel, and utility. We are confident that through our energy-efficient solutions and continuously strengthened global position, we can find pockets of growth and gain market shares and thus maintain the positive development in activities and results that has characterized the development at DESMI in recent years. An example of a pocket of growth is that DESMI has focused not only on good products. The final solution is more important to the customer, and an efficient pump must be correctly built into a system in order to ensure that the entire system is reliable and energy-efficient. An example of such an efficient pump solution is the concept of “Pumps for Free” that we have developed primarily for marine customers, where pay-ment for the solution is made up of the energy saving until the new and more energy-efficient solution has been paid, typically in 1-2 years.

To have the right solution is important, but we also want to be close to our customers. We have therefore con-tinued to increase our presence in the most interesting markets also in 2015 and for instance established a sales company in Poland, and the board has just recently decided to set up a production facility in India, primarily for production for local customers” concludes Henrik Sørensen.

The annual report for 2015 is available here