Harco Heavy Lifting, which develops and rents out lifting equipment for the offshore wind industry, reported a loss of DKK 4 million after tax in 2025 after restructuring the business from project-based sales to a rental model with recurring income. At the same time, revenue increased by 30 percent.
During the year, the company has replaced around 75 percent of the previous sales business with rental and at the same time invested in equipment, organization and digital systems. According to Harco, the model provides more stable and long-term income, but requires larger investments up front.
- It is never ideal to report a loss, but we remain confident. It is the result of a long-term investment in the company's future. We have great confidence in the direction we have chosen, and we already see a much stronger foundation for future growth. Our revenue increased by 30 percent - even during this restructuring. This gives us every reason for optimism, says Allan J. Vestergaard, Chairman of the Board of Directors of Harco.
According to the company, the restructuring means that the order book now extends into 2027 and 2028, where the company previously worked with a significantly shorter planning horizon.
- We have gone from planning in months to planning in years. Today, our order book extends into 2027 and 2028 – something we have never experienced before. This enables us to work more long-term in both our investments and our customer relationships. This is crucial for scaling the business, says Sten Dyrmose, CEO of Harco.
Harco states that both the activity level and earnings in the first quarter of 2026 are above budget. The company also expects continued revenue growth and a positive operating profit in 2026.
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