Hoyer Group with record balance sheets in 2018
An increased segment focus has contributed to Hoyer Group delivering solid financial results.
Following the implementation of a new sales strategy, the Hoyer Group looks back on a year of strong growth. Sales have set a record and turnover has increased by 19% to DKK 519.1 million. Operating earnings during the same period doubled to an EBITDA result of DKK 43.5 million.
‘Hoyer Group continues to undergo a positive development. We see the result as a confirmation that we are working with the right market segments and that Hoyer Group can deliver on the ambitious 2021 growth plan,’ says Søren Ø. Sørensen, Chairman of the board, Hoyer Group.
This positive development looks set to continue in 2019, which is supported by an increasing order intake. Henrik Sørensen, CEO, Hoyer Group elaborates:
‘We are experiencing increased activity and interest in most of our segments, where demand for unique services in particular is ensured by our business model. This is reflected in our customer satisfaction, which also made gains in 2018. We’re seeing all the more that we’ve succeeded in positioning ourselves in niche markets.’
Across market segments, Hoyer Group is also seeing the consequences of an increased environmental focus.
‘Regardless of industry and market, new and more environmentally friendly solutions are in demand, which has a positive impact on our business. Maritime legislation has led to a boom in scrubber and ballast water systems and other industries are focusing on more energy efficient smart solutions,’ says Henrik Sørensen, CEO, Hoyer Group.
Hoyer Group Key figures 2018
- Turnover: DKK 519.1 million. 19% growth
- EBITDA: DKK 43.5 million. A doubling from 2017
- 34% increase in order intake
- 61% order book increase