In the first half of 2025, Hove had sales of 108.3 million DKK – the highest half-year sales in the company's history. This corresponds to an increase of 26 percent compared to the same period the year before, the pump manufacturer said in a statement.
The increase is due to increased sales of pumps and lubrication to both new and existing customers in the wind turbine industry. The higher activity lifted both the operating profit (EBITDA), which increased by 71 percent to 13.2 million DKK, and the net profit, which grew to 8.3 million DKK – an increase of 73 percent.
According to Hove himself, the American business performed "satisfactorily" despite uncertainty about customs regulations, and both the USA and India contributed with positive cash flow.
However, the story in Hove's Brazilian departments is not as good. Thus, Hov has decided to close its Brazilian department after several years of unsuccessful attempts to penetrate the market, which Hove otherwise predicts will grow. In the future, Brazil and South America will instead be covered by a regional sales manager in a more cost-effective structure.
After the strong half-year, Hove has adjusted its full-year expectations to revenue of 180–200 million DKK and EBITDA of 15–20 million DKK. Previously, expectations were 160–190 million DKK in revenue and 11–18 million DKK in EBITDA.
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