Annual Report 2021: “The crisis has shown us the strength of investing”

The COVID-19 pandemic has placed the world in an extraordinary crisis that affects everyone. Beritech has met the situation as a resilient group and delivers a solid result for the 2021 financial year in the recently published annual report.

Revenue for Beritech Group increased by more than 300% from 2020 to 2021. In total, this adds more than DKK 100 million to the Group’s top line.

“We have received clear confirmation of the need for our business model. Having the entire value chain within a single organization means that Beritech has extra gears to shift into when things need to move quickly or become unpredictable - and when projects require a broad foundation. It provides a unique model for solving our customers’ challenges,” explains Beritech CEO, Bent Larsen.

Beritech has seen positive business development with strong demand and increased volumes across all three companies in the Beritech Group. Beritech Group comprises the activities within Beritech Manufacturing, Beritech Solutions, and Beritech Stainless Steel Tanks.

Investment as the Solution.

Beritech has an ambitious growth plan and invested more than DKK 46 million in 2021 in new business areas, digitalization, and machinery to expand the value it delivers to customers.

Further investments are expected in the coming year within robotics, digitalization, and a general expansion of production capacity. All investments are driven by customer demand - and by Beritech’s mantra of never saying no to a task due to lack of capacity or competencies.

“We can only find solutions if we continue to invest. And history has shown us that investment is often the best way out of a crisis. It requires courage and strength. Fortunately, we have both in Beritech - and in many other Danish companies,” says CEO Bent Larsen.

Unemployment is at a historic low, and attracting and retaining the right employees has demanded significant effort. Beritech has substantially increased its workforce, and by the end of 2021, the Group employs more than 100 people.

“In addition to investing in machinery, buildings, and digital solutions, we have above all invested in people. The people who will help guide our company into a future that will undoubtedly place even greater demands on us,” says Bent Larsen.

Expectations for 2022.

Despite continued uncertainty related to the pandemic, Beritech remains well-positioned to navigate the challenges ahead, supported by strong capital and liquidity positions.

The company’s development efforts focus on strengthening Beritech’s ability to respond quickly to changes in customer expectations, ensuring a smoother and better customer experience, and reducing costs.

Beritech expects significantly higher revenue in 2022, driven by increased capacity and continued growth in business volume. The Group will also continue acquiring companies that fit its strategy—and expects to reach a total annual revenue of more than DKK 500 million within a few years.

For Further Information.

Please contact:
CEO Bent Larsen – Tel. +45 22 24 66 58, bla@beritech.dk

For press material, please contact:
Head of Marketing & Communications Anne Kold – Tel. +45 60 12 15 10, ako@beritech.dk