Eltronic Group, a knowledge and technology group specializing in green energy, digitalization and automation, has presented its annual report for 2024. The report shows growth across the group's business areas with revenue of 2.07 billion DKK compared to 1.98 billion DKK the previous year, corresponding to growth of four percent. The bottom line landed at 58 million DKK after tax. The company announced this in a press release.
- 2024 has been a year in which we have taken important steps to prepare ourselves for the future. We have strengthened our organization, invested in new technologies and platforms and at the same time created growth across our business areas, says Lars Jensen, founder and main shareholder of Eltronic Group.
The year also saw decisive strategic changes, including Lars Jensen's buyback of shares from Blue Equity, so that he now owns 90 percent of the group, while the remaining ten percent is owned by employees.
Eltronic Group has strengthened its global presence with establishments in growth markets such as Taiwan, China and Korea. At the same time, significant investments have been made in green energy and technologies such as PtX and XtP.
Believe in stabilization after challenges
However, in the summer of 2024, the market for renewable energy and PtX experienced significant challenges. Inflation and rising interest rates meant that several customer projects were paused, postponed or cancelled.
This particularly affected ENABL A/S in existing and new projects and Eltronic PtX A/S, which had to adapt with both upscaling and downscaling during the year, which led to increased organizational costs and performance challenges. Eltronic Group believes in stabilization in 2025 and continued focus on innovation and green transition.
- We hope and expect the market to stabilize in the second half of 2025, where improved framework conditions can restore the foundation for the green transition in Europe, says Lars Jensen,
March 1, 2025 marks the company's 25th anniversary, a milestone for the group, which has grown from 6 to 1,800 employees in 25 years. In the past year alone, there have been 16 percent more employees compared to the previous year.
- In 25 years, we have grown from a company with 6 employees to a global organization with 1,800 dedicated colleagues. It is a journey that makes me incredibly proud, and which has only been possible because of our employees' talent, commitment and shared will to improve our customers' competitiveness, says Lars Jensen.
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