Danish technology company, Kamstrup, came out of 2021 with a satisfying result and significant growth in order intake despite COVID-19 and severe component shortages. The high level of investments in innovation and technology continued, and Kamstrup enters 2022 ready for further growth driven by the global megatrends focusing on reducing the waste of clean water and optimizing energy efficiency to support the green transition.
In 2021, Kamstrup navigated another challenging year with COVID-19 and severe component shortages for businesses globally - unfortunately meaning longer delivery time for many of Kamstrup’s partners and customers.
Despite this, Kamstrup had a robust and satisfactory year with a turnover of DKK 2.4 billion (EUR 319 million), which is a 4% increase compared to last year. The earnings before tax were DKK 213 million (EUR 25 million), an increase of 28% from last year.
“In a difficult year with several severe obstacles impacting businesses worldwide, we managed to increase tunrover compared to 2020. However, looking at our order intake, it is clear that the challenges of component shortage still had an impact on our turnover. And not least it had and still has a great impact on our delivery situation. We struggled to meet the demands of our customers, and we appreciate the understanding we have met from all over the world”, says Kim Lehmann, CEO of Kamstrup.
Kamstrup expects to support customers better in the second half of 2022 and hopefully see signs of even better conditions in the supply chain for 2023 and beyond.
Kamstrup’s order intake increased significantly in 2021 to a total of DKK 2.9 billion (EUR 390 million) compared to DKK 2.4 billion (EUR 323 million) in 2020, an increase of 21%.
From 2018 to 2021, Kamstrup’s order intake has grown 42%, showing that the demand for innovative sustainable and smart solutions is growing.
“We have continued to see a high and increasing level of order intake in 2021. In the light of the current business conditions, our results are solid. The order intake indicates that Kamstrup has never been more relevant. Societies are ready for and need a larger focus on sustainable energy and water consumption solutions”, says Kim Lehmann.
Kamstrup’s international expansion had continued success in 2021. In 2018, Kamstrup’s sales outside Denmark was 58% of total revenue. Today 84% of Kamstrup sales are outside Denmark, with total export amounting to DKK 2 billion (EUR 269 million).
“We are set for significant growth. We have a healthy business, our order intake is growing, and we are doing our best to alleviate supply chain pressures so that we can deliver to our partners and customers”, says Kim Lehmann.
Kamstrup has kept a firm focus on investing to stay at the forefront of technological development. In 2021, 13% of the company’s turnover was invested in developing new solutions through innovation, technology and product development.
“We believe in the future, we believe in sustainability, and we believe in innovation. That is why we continue to invest a high level of our turnover in innovation and new technologies, not only in 2022 but in the years to come”, says Kim Lehmann.
The high level of investment is expected to lead to continued expansion and growth over the coming years for Kamstrup.
“Innovation within product development and technology will continue to drive us forward over the coming years. With innovative partnerships and close collaboration with key customers and selected technology partners, we can develop sustainable solutions that will positively impact societies around the world”, says Kim Lehmann.