Kamstrup announces record sales of meters and meter solutions during 2013
Skanderborg, Denmark – Kamstrup, the Danish manufacturer of meters and meter solutions, has announced its 2013 results, which headline 3% growth and record sales of €173 million, with earnings after tax of €20 million.
Kamstrup invested heavily in R&D during the year and an equity of €56 million allows for further investments in the market, including product development and production equipment. This set strategy of investing in R&D is considered the main reason for the positive growth in 2013.
“Our efforts in product development have led to a number of successful product launches and this is evident in our annual results. Furthermore, we have strengthened our competitiveness through upgraded product functionality and streamlined production costs,” said CFO at Kamstrup, Henrik Rom.
More than 80% of Kamstrup’s sales are to markets outside Denmark. In 2013 Kamstrup established new offices in the USA, Chile and Austria. Driven by significant R&D investments and stronger sales activities, Kamstrup expects to grow market share in a number of new markets in 2014, with a resulting positive effect on sales. “We expect an increase in 2014 and a we have good reason to expect a higher profit too,” concluded Henrik Rom.