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Annual Report 2020 for the DESMI Group, Described as Satisfactory, has been Approved

2020 is indeed a year to remember, not only from a world-historical perspective but also as a very special year for DESMI.

Covid-19 made its entry at the same time as a serious cyber-attack, but in despite hereof a good result is created by focusing on continuous growth, development, and sustainable solutions. It is in this light that the Board of Directors describes the result as satisfactory.

“The Covid-19 situation has had (and still has) a great impact on our daily work in regard to visiting and meeting customers face to face. 2020 was a year where travelling outside country borders was almost impossible and where new digital sales tools and behaviour were set into action in order to keep the good relationships with our worldwide customers. Despite the Covid-19 challenges and oil price fluctuations plus a cyber-attack that affected IT systems and operations at DESMI, we are happy to announce another satisfying result,” continues Mr Sørensen.

The net revenue for DESMI of 2020 was in total kr1.296bn, EBITDA amounts to kr184.5m, and with a profit before tax of kr157.2m this is the second-best annual result ever in the 186 years of DESMI history.

DESMI is gaining market shares, and there is a strong belief in the future. “We have kept our strategic focus despite various obstacles”, continues Henrik Sørensen, “and we are looking at several opportunities for further growth within all our market segments”.
In 2020, the DESMI Group established DESMI DeServe A/S, a 24/7 global service organization handling spare parts and global service directly or with assistance from DESMI entities around the world.

“We are currently seeing the order intake developing positively month by month within most areas of the group, and even though it might be tough and difficult to navigate under these “unnormal” circumstances in relation to Covid-19, we see lots of progressing and growth in all business areas,” says Mr Sørensen.

DESMI continues its focus on sustainable and environmental solutions. Within Ballast Water Management Systems (BWMS), the business has grown extremely quickly, and the sales figures are progressing, and market shares are gained day by day, especially within the Marine segment.

“We want to take part in creating a positive impact on the environment and continue to do so by a number of initiatives. Next to the BWMS business, we still have our “Pumps for Free” concept for the Marine segment, where savings are used to pay for the installations, and we continue optimizing our pump solutions and their energy efficiency. In 2020, we also set up solutions within clean waterways and collecting trash from tributaries – all green initiatives, which have a huge environmental impact,” says Mr Sørensen.

And Mr Sørensen concludes: “It is an honour to be Group CEO of such a great company, and the satisfying result for 2020 is accomplished with a lot of thanks to our loyal customers, business partners, and our great team of engaged employees”.

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