boom in order intake paves way for optimism
On 15th Sept. 2015, Berlingske Business interviewed CEO, Mr. Stig Due:
Survey covering 187 Danish top managers show distinct optimism and progress among the largest Danish companies
DANISH TOP MANAGEMENT PANEL
Increasing turnover, lots of new orders and higher profits. Optimism is now prevailing with the largest Danish companies of which a majority now finally have better times in sight. Many are planning new recruitments, higher levels of investment in machinery and buildings, while a much higher number than before are planning spending more on R&D and new product development. 187 Danish top managers took part in a survey, and a staggering 48% are expecting increased sales and higher turnover.
Also Stig Due, CEO of C.C.JENSEN A/S is optimistic. The company is a market leader in production of oil filters for cleaning oil in wind turbines, ships and other industries. This year alone sales has increased by 15%.
“It’s more than expected and our growth can be contributed not only to sales in Denmark, but also export sales, that accumulate to 85% of the total revenue”, says Stig Due.
Tailwinds both at Home and Abroad
Family owned C.C.JENSEN, headquartered in Svendborg on the island of Funen, are currently experiencing the strongest tailwinds for years. The number of employees is 300 and the turnover has reached 47 million euro. Part of the growth can be related to the increase in the US dollar exchange rate over the last 12 months. This increase has made Danish product more competitive in the US.
“But that doesn’t explain it all”, says Stig Due, and continues; “Our growth is based on many countries such as the Netherlands, the UK, Spain and Germany. Our products actually save costs for our customers, so they view them as a good investment – even with the low oil prices that we currently have”.
Some markets are still lagging, especially China and Greece, but not so that it effects the overall picture. And the growth has already led to new employees joining the company;
“We have already hired three extra welders, and even though it’s not without risk to say anything about the future, it’s fair to say that if we can sustain the trend then we definitely will be needing even more employees”, concludes Stig Due.
Article in Berlingske Business
Tuesday, 15th September 2015