Annual accounts 2010/2011: Nilan A/S presents strong results once again

06-12-2011 | Despite the negative impact of the recession on the building sector and consequently also the ventilation and indoor climate industry, Nilan A/S closes this year’s annual accounts with satisfactory results, even though a number of investments, which are to ensure the company’s success in the future years, have been brought into the calculation.

Nilan A/S publishes its 2010/2011 annual accounts today. As in previous years, the company has realised a positive result, though it bears the mark of the challenges all ventilation and indoor climate manufacturers are subjected to these years, as the building sector is under pressure owing to the recession.

- We are at a very sensible level and are running a healthy and sound business. Naturally, the figures could be better, but taking the unavoidable consequences of the recession into consideration, we are more than content with the results of the year, says CEO Torben Andersen.

The turnover of the financial year 2010/2011 has increased since 2009/2010. Consequently, Nilan continues the rising tendency in terms of turnover, just as the gross profit has risen. Moreover, the turnover is expected to increase further next year. Due to management’s strategy of ensuring future success through long-term investments, the profit is lower than in 2009/2010.

Focusing on new markets and product development

Nilan entered a number of new markets in the course of 2010/2011 for the purpose of compensating for the crisis and ensuring a wider business base. This has resulted in costs for human ressources and approvals in connection with national standards of the new markets, among others. This strategic effort impacts the bottom line negatively, but we anticipate the impact to be positive in two to three years.

Furthermore, Nilan has invested in new fixed assets. One reason for this is a wish of improving our automation level, thus assuring a stronger position in a market where cost optimisation is a necessity.

This has resulted in increasing depreciation costs and a higher level of activity as regards international R&D projects.

- We operate in a market where the technological development never is at a standstill, but rather constantly providing new opportunities. We have always been in front when it comes to applying these opportunities to the development and further development of products and not least affect the direction of the work with the energy solutions of the future. This work remains a high priority, crisis or no crisis, explains Torben Andersen.

Highest credit rating

As it was the case in the financial year 2009/2010, Nilan has received the highest credit rating based on the figures of the annual accounts, sending a strong signal to all customers and partners of Nilan’s financial stability.


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