13/04/2018

Continued progress at ϣ in Denmark…

"We had a result before taxes of 7 mill. DKK, and are very satisfied", Gitte Kirkegaard, CEO at ϣ A/S, says. "Nevertheless, we do not live up to our objectives at the bottom line in 2017, and of course this is not satisfactory. The result is two millions below the result of 2016. Especially negative currency changes of CNY and USD have caused the deviation compared 2016. Unfortunately, we have no influence on this", Gitte Kirkegaard continues, "but nevertheless it affects our annual accounts significantly, and in 2017 unfortunately in a negative direction".

"However, our turnover has not been at the expected level in 2017. We ended up 8.5% below our budget, but achieved a slight growth of 3% compared to 2016. Especially the turnover in the USA did not live up to our expectations in 2017. The turnover of the large European markets has either been status quo or increasing compared to 2016", Gitte Kirkegaard says.

Even though the result of 2017 does not fulfil the expectations fully, the very positive result brings joy to both owners and employees. A good bottom line forms the basis of an even faster and better development of the company. In addition, both Gitte and her sister Dorte focus very much on the development of the company. The ϣ Group consists of the headquarter in Ribe, a production company in China and a sales office in Chicago. All three units have also in 2017 contributed positively to the result of the year.

"We are constantly trying to keep up with the many new trends in the market. In 2018, our very large focus will be digitization. This applies to all areas of the company - from our presence on the social media to robotics", Gitte Kirkegaard says.

”From experience, we know that new and good products bring us to large customers, and we therefore constantly try to be leading in our industry. During the last year, we have developed two new and very good products which have already become successful”, Gitte Kirkegaard ends the interview.

Therefore, the ϣ expectations for 2018 are high; an increase of turnover by 10% compared to 2017.

"Visitors often tell us that the atmosphere at ϣ is very special. You are always greeted with a happy smile, and you feel the human culture throughout the organisation. Each employee contributes, in his or her own way, to a good workplace. A good culture and a positive energy and atmosphere are essential for a business to succeed! Therefore, it is also a huge honour for me when I constantly hear about our positive and very skilled and caring staff. Each employee contributes positively to the development of our company", Gitte Kirkegaard says and sends many thankful thoughts to all employees in the ϣ Group.

ϣ has 75 employees in Denmark, one in Germany, one in France, 55 in China and 5 in the USA. Half of the turnover is manufactured in Denmark, especially stainless products, custom-built products and small product series. Larger series and less complex products are manufactured in China.