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High Growth at DESMI

High Growth at DESMI

Monday March 25, 2015

The recent Annual General Meeting at DESMI adopted the 2014 Annual Report.

The annual report was presented and adopted at the Annual General Meeting on March 25, 2015. The report shows a profit after tax of DKK 46.3 million based on a turnover of DKK 908 million. Turnover has increased by 13% and operating profit as well as profit for the year after tax show a good development compared to 2013.

The profit exceeds the budget for 2014 and is regarded as satisfactory.

Furthermore, it appears from the annual report that the order book amounted to DKK 436.3 million in the primary business segments at the end of 2014, which is an increase of 49.1 million compared to the beginning of the year. The order book related to contracting activities amounted to DKK 45.4 million, resulting in a total group order book amounting to DKK 481.7 million at the end of 2014, which presents a satisfactory basis for 2015.

"2014 has been an exciting year, where we have seen a good development in sales – a development that is considered to be above market level, indicating that we are winning market shares. The positive development is widely based, but we are however still awaiting a turning point within ballast water treatment systems, as the IMO convention has not yet been ratified. 2.5% of the required 35% of the world tonnage still need to ratify the convention before it can take effect, and we expect that these last 2.5% will fall into place in 2015", says Group CEO Henrik Sørensen and continues:

"Market focus, globalization, development of efficient solutions and concepts in co-operation with the custom-ers are still important elements in our growth strategy, and we will continue to work on developing DESMI’s global position trusting that this is right and profitable also in the longer run.

On the basis of the good order book and the initiatives and plans, which have been implemented or are on the "drawing board", we believe in continued growth and good results in 2015," concludes Henrik Sørensen.

For further information, please contact: Henrik Sørensen, CEO, DESMI A/S, hs@desmi.com, +45 96 32 81 11.

See annual report 2014 on our homepage: www.desmi.com

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