Kamstrup achieves strong result and strengthens delivery performance

12 March 2024

2023 represents a very satisfying year for Danish technology company Kamstrup, that managed to deliver on filled order books to ensure a strong result with a record high revenue and profit. The result reflects strengthened service and delivery performance.

Delivering on a significant order book became the defining factor for Kamstrup in 2023. Coming out of a component shortage crisis on top of a global pandemic, Kamstrup entered the year 2023 with a notable order backlog based on the vast order intake from 2022. The performance on executing incoming orders fueled the satisfying result for the year.

The intensive focus across Kamstrup on enhancing delivery performance, lead time and increasing production capacity paved the way for a more solid setup in supply chain to the benefit of Kamstrup, partners and customers.

“The underlying story of our result for 2023 is all about the strong effort throughout the organisation to push through volatile times and ensure an optimised customer experience through an improved supply chain. At the same time we have also built on other aspects of our partnership with customers. Our relationship in planning and co-creating solutions that optimise water and energy consumption, is closer than ever” says Interim CEO Henrik Rom.

Significant earnings

The annual result for 2023 contains a satisfactory increase in revenue as well as a significant increase in earnings. Kamstrup delivers a revenue of DKK 3.6 billion (EUR 484 million) which is an 29% increase compared to the result for 2022 while delivering an EBT of DKK 514 million (EUR 69 million) which is an increase of 67% compared to the previous year.

”We entered 2023 with an accumulated backlog and a significant order book for the year. Coming from a situation with component shortage, we wanted to maximise not only our output for the year but also fully focus on increasing delivery performance immediately as well as in the years to come. Today we have a solidified setup with a strengthened production capacity and delivery performance to ensure improved lead times, and an improved level of service” Henrik Rom explains.

The outlook for 2024 is still characterised by uncertainty in the industry, including Kamstrup, rooted in the ongoing geopolitical issues. During the component crisis, many customers made sure to build up stock as a precaution due to extraordinary uncertainty and to ensure availability of the needed products. Despite this, Kamstrup expects to maintain a level of revenue similar to the record high 2023.

“We have a strong belief in the vast potential of our business. That is also why we keep investing in innovation, facilities and why the number of Kamstrup colleagues, has seen a solid growth in 2023.”

– Henrik Rom

A resilient setup in volatile times

Close collaboration, strong partnerships and high customer service is the key to future success and ensuring continued growth for Kamstrup. At the same time, developing solutions together with utilities around the world is highly necessary to meet the demand of speed needed in creating a sustainable green transition.

“We have a strong belief in the vast potential of our business. That is also why we keep investing in innovation, facilities and why the number of Kamstrup colleagues, has seen a solid growth in 2023. The need for data-driven solutions that combat water loss and optimise the use of energy remains undiminished” says Henrik Rom.

One of the major investments made by Kamstrup is the production facility in Cumming, GA, US which is currently being finalised and is ready for inauguration within March 2024. The facility will equip Kamstrup for future growth in terms of production capacity and other facilities.

Kamstrup also continues to experience a growing demand from customers and partners for solutions with a clear impact on sustainability. As a result, a new sustainability strategy has been launched in 2023 that focuses on further strengthening Kamstrup’s ability to maintain and sustain a viable business in the future.

Contact regarding this press release:

Mads Husted Nielsen, Press and Communication Manager

Phone: +45 29 21 77 68