Record revenue and profit in 2017
Annual report 2017
March 20, 2018
March 20, 2018
Kamstrup, a world leading provider of intelligent metering solutions for energy and water, posts a record-breaking turnover for the 8th consecutive year, reaching a total of DKK 2,1 billion (EUR 282 million) for 2017. The pre-tax profit reached DKK 311 million (EUR 42 million).
New CEO at Kamstrup Kim Lehmann – who took up the position at the beginning of 2018 – notes that he could not have asked for a better starting position:
”Kamstrup is a well-run company with a clear vision for the future. We want to create progress for our customers by introducing new digital opportunities. One of our ambitions is that one day one billion people will have clean water from a distribution network with Kamstrup intelligence,” says Kim Lehmann.
Kamstrup has been able to grow its market share within the electricity and heat metering markets. In 2017 and the years before, the company has both won and started roll out of large-scale projects such as the project with Radius,
owned by the Danish energy company Ørsted, where one million remote read electricity meters are being installed in Copenhagen and the surrounding area.
In the water metering market, Kamstrup continues to experience an increasing demand for intelligent metering solutions. The company’s ambition to drive the technological transition from mechanical to intelligent meters has resulted in double-digit growth. Consequently, in 2017 the company opened a water centre dedicated to high-technology production supporting Kamstrup’s strong focus on automation, digitalisation and product development.
The rapid growth within the water business in the US also led to the opening of production facilities outside Scandinavia. “In the late part of 2017 we established a new production in Georgia, Atlanta with the same high level of automation as in our existing production facilities. This establishment marks our ambition to move our business closer to our customers and to be a flexible partner,” says Kim Lehmann.
All other industrial production facilities are today situated in the headquarters in Denmark.
New product launches in 2017 include upgrading of meters and integration of IoT technology in existing solutions.
“As a frontrunner in digitalisation and with a dedicated focus on developing analytical tools to fully utilise data, we enable our customers to reduce losses in the supply of water and energy. Data-driven insight into the distribution network is crucial for utilities to optimise their business,” says Kim Lehmann.
The continuous investment in innovation and market expansion led to an increase of the workforce with more than 100 new positions in 2017. In the effort to find highly skilled employees within R&D, the company also recently added a new software development unit in Malaga, Spain. Kamstrup plans to add the same number of new positions in 2018.