AX V Nissens ApS
Please find enclosed the Annual Report 2018/19 for AX V Nissens ApS, the parent company and owner of the activities in K. Nissen International A/S.
Significant growth by K. Nissen International A/S
The annual report for K. Nissen International A/S (reported under DK GAAP) shows a net revenue of the fiscal year 2018/2019 that amounts to 1,983 million DKK against last year’s net revenue of 1,676 million DKK. The EBITDA result developed from 197 million DKK to 240 million DKK.
Mikkel Krogslund Andersen, CEO, states:
”In the 2018/2019 fiscal year, we have witnessed good growth at Nissens, and it is positive to see that our ambitious product and category strategy offers a strong contribution to an increased level of activity and ensures the company earnings. For that reason, we are satisfied with the annual result”.
However, Mikkel Krogslund Andersen comments on the annual result by emphasizing the considerable challenge experienced in the wind turbine industry:
”In the past year, Nissens Cooling Solutions has managed to grow our sales to the global wind turbine industry despite the significant demand for price reductions in the wind segment. We have been able to position ourselves as development partner, when it comes to the design of advanced cooling solutions for the next generation of wind turbine platforms. The demand for price reductions in the industry does however implicate that the earnings in our business are under pressure”.
The cooler company considers the more long-term, market perspectives to offer interesting opportunities to Nissens across the three segments, which the company operates in: the international automotive aftermarket, the wind turbine industry and the industrial segment for special machinery.
Mikkel Krogslund Andersen says:
”There is no doubt that we navigate in market segments with changes in technologies and fierce price pressure. However, we continue to see some interesting perspectives in the changes that influence the industry and, for that reason, we believe that we can make a difference. That may happen in line with electrification increasingly sharpening the requirements for thermal management. It may also be driven by continued, increasing complexity in the wind turbine industry, e.g. via larger turbines demanding a broader scope of supply. Based on the position that Nissens holds today, we have to be able to support our customers with their transformation”.
For additional information, please contact:
Nissens, Ormhoejgaardvej 9, DK-8700 Horsens, phone: +45 76 26 26 26
Press Officer: Rikke Kroer Høberg, VP, Global HR & Group Services
Cell phone: +45 26 88 00 51 | E-mail: rkh@nissens.com
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