In a competitive and stagnant market Kamstrup once again improves its financial performance and ends 2013 with a 3 percent growth and record sales of EUR 173 million. With an Earnings After Tax of EUR 20 million the annual results are considered highly satisfactory.
Solid foundation
Although Kamstrup invested heavily in R&D in 2013, the financial position stays advantageous. An equity of EUR 56 million allows for further future investments in the market, including product development and production equipment, and for the third year in a row Kamstrup receives the highest credit ratings, AAA.
High level of investments
A set strategy of investing in R&D is considered the main reason for the positive growth in 2013: “Our efforts in product development have lead to a number of successful product launches and this is evident in our annual results. Furthermore, we have strengthened our competitiveness through upgraded product functionality and streamlined production costs”, says CFO at Kamstrup, Henrik Rom.
Promising 2014
More than 80 percent of total Kamstrup sales arise from markets outside Denmark. In 2013 Kamstrup established itself with new offices in USA, Chile and Austria. Driven by significant R&D investments and stronger sales activities Kamstrup expects to grow market shares in a number of new markets in 2014, with a positive effect on sales. “We do expect a growth in 2014 and a we have good reason to expect a higher profit too”, Henrik Rom says.
For further information, please contact: Henrik Rom, Chief Financial Officer, Kamstrup: +45 8993 1010
About Kamstrup
Kamstrup serves energy companies and utilities with innovative metering solutions for electricity, heat, cooling, water and natural gas. Our solutions include Smart Grid applications, Smart Metering systems, and consumption meters. Energy and water meters from Kamstrup are installed in homes worldwide securing fair billing and an efficient use of energy. Kamstrup was founded in 1946 and is a 100 % Danish company with representations in more than 60 countries. www.kamstrup.com / www.kamstrupomnia.com