Growth is underway at KK Wind Solutions, which, among other things, produces electrical systems for wind turbines. In 2024, the company reached a milestone by reaching a turnover of over one billion euros, corresponding to 7.7 billion DKK, for the first time. This milestone was achieved as a result of growth of 40 percent compared to 2023, the company said in a press release.
The company's growth is mainly driven by the integration of the acquisitions of Nissens Cooling Solutions and Vestas converter and controls business, but also by strong results across the business areas. Adjusted for integration costs, EBITDA increased by 26 percent from 500 million DKK in 2023 to 632 million DKK in 2024. The acquisitions have led to an increase in the number of employees by approx. 1400 employees to 3,700, primarily as a result of the acquisition of Nissens Cooling Solutions A/S.
On the bottom line, however, the integration of the acquired companies costs, here KK Wind Solutions must note a minus of 226 million. DKK. Despite this, there is joy in the company, as it believes that the acquisitions will create income in the future.
- 2024 was a record year for KK Wind Solutions. We delivered strong commercial results across our business areas and set a new milestone with a turnover of more than EUR 1 billion, while significantly improving our profitability. We are satisfied with these results, which exceeded our expectations. The integration of the acquired assets affected our bottom line in 2024, but these acquisitions will enable our future growth ambitions, says CEO of KK Wind Solutions Mauricio Quintana.
KK Wind Solutions is also pleased with the execution of the sustainability strategy. In 2024, 100 percent of the company's electricity consumption was obtained from renewable energy sources, and total greenhouse gas emissions were reduced by 25 percent.
For 2025, KK Wind Solutions expects limited organic growth, but improved profitability driven by synergies from acquisitions and process improvements. Revenue is expected to be between 7.5 and 7.9 billion DKK, while the EBITDA margin is expected to be 7-9 percent. On the bottom line, an improvement is expected, but still a negative result.
amp
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
