The annual report was presented and approved at the company's Annual General Meeting on 18 June 2024.

The net profit for the year after tax of DKK 6,867 thousand is considered highly satisfactory. At the end of the financial year, the company’s equity amounted to DKK 40,810 thousand.

In 2024, the yard had no newbuilding activity. The main activity throughout 2024 was within the repair segment, where, due to active sales and customer outreach efforts, a steady and high level of capacity utilization was maintained throughout the year. Revenue was also higher than the previous year.

During 2024, significant costs were once again incurred for the maintenance of existing equipment and investment in new machinery. In addition, various efficiency and cost-saving initiatives were implemented, which contributed positively to the annual result.

The realized profit for the period is significantly higher than anticipated at the beginning of the year. The main reason can be found in the circumstances described above: a high and steady utilization of the yard’s capacity.

Sustainability
The company has for several years integrated the green agenda as a strategic guiding principle for the development of the yard and the work performed.
The company remains committed to focusing on the creation of sustainable solutions and services for its customers.

This applies both in the company’s value chain and in the way the company engages with its local community, employees, and the investments made in new facilities.

Management Systems – Environment
In February 2024, the company was re-certified under the quality management standard ISO 9001:2015 and the environmental management standard ISO 14001:2015, for newbuilding, maintenance, and repair of ships.
In addition, the company holds an environmental approval in accordance with the Danish executive order on approvals (bilag 2), category A 204 – steel shipyards and floating docks, including the secondary activities A203 and K203.

The full annual report can be found HERE