In 2015/16 the Nassau Door A/S group turned last year’s loss into a solid profit, and it is expected that the growth trend will continue this year.
Nassau Door A/S, headquartered in Ringe, Denmark, looks back on a satisfactory year with growth and profit in the group companies.
The group, specialised in industrial doors and complementary products, ended the financial year with an operational profit of DKK 14.3 million compared to a loss of DKK 11.7 million the previous year. The positive development is achieved despite a marginal decrease in net sales to DKK 428.1 million.
– It is both a great and satisfactory result for Nassau Door A/S. We look back at a year in which all our group companies were profitable, with the exception of Norway, where a small loss-making department was closed down during the financial year, says Jens Flesner, CEO of Nassau Door A/S.
The CEO points out that the development was achieved on the basis of a significantly increased focus on the core business, a complete range of industrial doors to the professional market and customised garage doors to the consumer market.
– The positive development is a result of our ability to focus on our core business, which is the production of industrial doors. Similarly we have been good at developing our service business, in which we maintain all types and brands of doors. The productivity has been improved through streamlining and adjustment of our organisation, continues Jens Flesner.
In connection with the adjustment of the organisation the group incurred non-recurring expenses of DKK 3.5 million.
For the next financial year, Nassau Door A/S expect sales on a level with 2015/16 and even better operational results.
After the end of the financial year an agreement has been made to sell the Nassau Door group. The agreement is subject to approval by the competition authorities in countries where required.
About Nassau Door A/S
Nassau Door A/S (the group) is one of Europe’s leading manufacturers of doors for industry and consumers. Our range includes, among others, sectional doors, high-speed doors and total solutions for the maintenance of industrial doors and complementary products for the professional market. For the consumer market we manufacture garage doors which are customised to the customer’s demand. Nassau Doors A/S employs approx. 400 people. The group consists of our headquarters in Ringe, Denmark, and subsidiary companies in Norway, Sweden, Holland and Belgium. For more information, please go to www.nassau.dk.
For Nassau Door A/S (the group) the following key figures are highlighted for the financial year 2015/16 (from 1 May 2015 to 30 April 2016):
For further information, please contact:
Jens Flesner, CEO
Nassau Door A/S
tel.: +45 2362 5694
|Profit before tax||11,7||-7,5||11,0||-13,5||12,3|
|Result of the year||2,8||-5,2||7,2||-10,5||8,9|
|Investment in tangible fixed assets||4,8||5,3||4,1||4,4||2,8|
|Assets end of year||241,3||187,1||208,6||167,9||176,6|
|Equity end of year||58,8||53,6||60,4||47,0||55,5|
|Average number of full-time employees||410||369||356||364||351|
|Gross margin in %||19,4%||16,1%||21,3%||17,0%||22,5%|
|Net profit ratio in %||3,1%||-1,4%||3,1%||-2,7%||3,3%|
|Return on equity in % (excl. dividend)||4,8%||-9,2%||13,0%||-20,1%||17,4%|
|Share of equity in % (excl. dividend)||24,4%||28,7%||27,5%||28,0%||31,4%|