Kamstrup's positive progress from previous years continues. Despite the global market for energy and water meters showing only moderate growth in 2014, the company has succeeded in increasing its market share in a number of countries. This has meant that Kamstrup's total turnover has increased to EUR 185 million, equivalent to organic growth of nine percent compared to 2013. More significantly, the development has resulted in a pre-tax profit of EUR 35 million.
The level of both turnover and earnings is the highest in the history of the company, and to a great degree this can be
put down to Kamstrup's investments in product development, where several successful product launches have strengthened the company's global position. At the same time, Kamstrup's ongoing investment in continued production automation and improved quality, has contributed to the positive results.
In addition, the sale of Kamstrup's Dutch gas division has also contributed positively to the financial year profit, however the company's results would still have been record-breaking even without the sale of the division. In relation to Kamstrup's increasing investments in the
development of new markets and products, and the general market development, Kamstrup considers the year's results as very satisfactory.
Kamstrup has seen double-digit growth in several foreign markets and expects to continue to gain market share in 2015. In particular, this progress should be seen in the light of Kamstrup's investments in product development and in strengthened sales and marketing activities. Kamstrup also continues to invest in its staff, and expects to hire around 100 new employees in 2015. Two thirds of these new jobs will be related to product and market development.
"We expect continued growth in 2015, in all of our business areas and especially in our global water markets. However, we expect a slightly lower result compared to 2014, which will be primarily because of the one-off earning from the sale of our Dutch gas division, and the increased investments in product and market development," says CEO Per Asmussen.