In 2020, Kamstrup managed to navigate in a year full of uncertainty caused by the COVID-19 pandemic. With a turnover of $369M USD, which is close to the same level as the previous year. The earnings before tax were $27M USD – Kamstrup delivered a robust and satisfactory result.
“I am very happy with the financial performance achieved in 2020 by Kamstrup. In the light of the global pandemic we have managed to adapt and transform to create a strong result and a stronger Kamstrup going out of COVID-19. We have kept servicing our customers while keeping our employees safe. This has been our key priority”, says Kim Lehmann, CEO of Kamstrup.
In the second and third quarter of the year, Kamstrup in some months faced up to 60% decrease in order intake as a direct consequence of COVID-19. Kamstrup managed to steer clear of this potential significant setback.
“We managed to keep the wheels turning thanks to customers, partners and employees, which all together made the positive difference in the end”, says Kim Lehmann.
Kamstrup continued to expand into new markets through 24 subsidiaries, and through an ever-growing distributor network. Kamstrup is now selling solutions in more than 90 countries.
Due to the efforts made and in the light of the COVID-19 crisis, turnover hit a satisfactory level for 2020, and the order intake grew an impressive 7% compared to 2019.
Through the recent years Kamstrup has expanded the business internationally and year by year the order intake has grown from $257M USD in 2017 to $385M USD in 2020. An impressive 50% growth over three years.
Despite a year of uncertainty, Kamstrup kept a firm focus on investing in the future to stay at the forefront of technological development. In 2020, 12.5% of the company’s turnover was invested in developing new solutions through innovation, technology and product development.
“We see the high level of investments in developing future solutions as absolutely vital in terms of the continuous optimization of our customers’ operations, energy optimization and reduction of water loss”, says Kim Lehmann.
The relatively high level of investment is expected to lead to continued expansion and growth over the coming years. Although on short run, because of COVID-19, Kamstrup expects the same level of activity in 2021 as in 2020.
“We have kept a high level of investment in terms of development, and we will continue keeping this level in the future. Innovation within technology and product development will continue to drive Kamstrup forward over the coming years. With innovative partnerships, with selected customers and technology partners, we can develop future sustainable solutions that will positively impact societies around the world”, says Kim Lehmann.
Watch our CEO Kim Lehmann present the results for 2020.