2021/22 annual accounts with record growth in revenue and investments
Once again, the Mekoprint concern has set a revenue record. In the newly published annual accounts for 2021/22, revenue increased by 28% to EUR 98 million.
“It is very satisfying to know that we have experienced significant growth once again. The demand from customers has never been higher, and combining our many production technologies within each division and across the entire company results in even greater satisfaction”, CEO Anders Kold remarks on the strength of having over 700 highly specialised employees.
The company’s goal is to reach a revenue of DKK 1 billion in 2025 and, according to Anders Kold, progress during the last financial year demonstrates that the company is well on its way to meeting expectations.
He is pleased that Mekoprint’s four divisions – Graphic Electronics, Cables, Mechanics and Micromechanics – all achieved revenue growth of between 19% and 35% in 2021/22.
Annual profits for Mekoprint Holding A/S amounted to EUR 6 million after tax, which is on a par with the previous year, although with a drop in the earnings ratio from 8% to 6% after tax. Profits have not increased in line with revenue due to a number of unforeseen, extraordinary costs related to price increases for energy and raw materials, currency fluctuations, rising interest levels and the war in Ukraine.
“Like most other manufacturing companies, we have faced challenges with deliveries throughout the supply chain and have been hit by large price increases from all types of suppliers. In addition, we were forced to close our factory in Ukraine for a month and a half due to the war. Against this backdrop, the result is satisfactory, even if profits did not increase in line with revenue”, Anders Kold explains.
Record investment levels and a new investment plan of over EUR 20 million.
Another aspect of this story is that Mekoprint made investments of EUR 10 million in 2021/22, which was the highest level in the company’s history. Among other things, Mekoprint acquired 67% of the shares in the company Microturn, whereby Mekoprint became the largest development partner and supplier of micro components in the Nordics.
Going forward, Mekoprint will continue to work on an ambitious investment programme, and will make investments of around EUR 20 million over the next three years, EUR 12 million of which will be invested in 2022/23 in order to meet increasing demand and increase automation.
“We are making record-breaking investments to support our growth ambitions and the strategic direction we have set for our four divisions. The investments should make Mekoprint an even more attractive business partner, and we must be at the forefront – not least when it comes to technological development. In addition, we will develop products in collaboration with our customers to an even greater extent and aim to become a total supplier of customer-specific components with an even closer collaboration with our customers”, says Anders Kold.
Strategy is about more than finances
The point of departure for Mekoprint’s overall strategy is to make it easy for customers to develop their business in partnership with Mekoprint, but the strategy is not only about creating the greatest possible revenue and profit.
Sustainable development is prioritised highly in the industrial group, which works with four bottom lines that must constantly be kept in balance – job satisfaction, economic growth, customer satisfaction and social responsibility.
“In addition to ensuring good financial development at Mekoprint, we focus on being a good workplace, creating good and long-lasting relationships with our customers and taking responsibility for the society we are a part of. That is why we also have clear objectives in these areas. For example, we want to be CO2 neutral by 2025, and we are continuously taking new initiatives to become even more environmentally friendly”, says Anders Kold.
Read the full annual report here.
