CEO Bjørn Thorsen comments on the financial year:
"With a turnover of 1,828 million DKK, we have maintained the turnover level from the record year 2021/22. Otherwise, the expectation was a falling turnover. The result, on the other hand, has decreased from DKK 150 million DKK to 97 million DKK. Our expectation has been realized here. Although the result has fallen, the level in a historical context is the second-best we have achieved.”
"In addition to the accounts, we look back on a year of progress in the implementation of our new ERP system, which was, however, affected by the - at the time - high activity in our markets. Our expectation for the commissioning of the new ERP system has therefore moved from this calendar year to the spring of 2024, with the exception of some areas, which will already be commissioned before the end of the calendar year."
"At the same time, in the current calendar year, we have completed our investments in our newly established welding department. It's a boost in skills that has a positive effect on our business."
Ib Andresen Industri A/S has again this year been able to reward its employees with a bonus equivalent to one and a half months' salary due to the results of the annual accounts.
Inflation and interest rate increases breed uncertainty.
Bjørn Thorsen says about the expectations for this financial year:
“At the same time last year, we feared a possible recession, which did not come. Since then, inflationary pressure has eased, but is still too high in relation to the EU's target of 2 percent, and the ECB raised interest rates again as recently as September 20.”
"The fact that inflation remains too high despite interest rate increases creates uncertainty in relation to the future interest rate level, but with the spread in the group's customer portfolio, we expect to be able to mitigate - not avoid - the effect of the monetary policy initiatives that this financial year may be affected by, because we see already a declining order intake in most of our markets.”
Photo / Welding robot in one of Ib Andresen Industri's new welding cells.