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Wrist Ship experienced rise in revenues

Wrist Ship experienced rise in revenues

15-03-2018 10:30:00

Danish supply company Wrist Ship Supply Service experienced a rise in revenue and net profit in 2017, where the company noted revenues of 4.1 billion Danish kroner, which is an increase of 3 percent compared to 2016. Revenues grew from 60 million in 2016 to 86 million Danish kroner in 2017.

"We are proud that our customers trust us and want us to solve their tasks and ensure delivery in the right place and on time. And we know that we have to meet our customers' expectations on a daily basis, "says Robert Kledal, CEO of Wrist Ship Supply in connection with the financial statements.

The company writes that the average order value decreased due to lack of demand and because customers have moved towards cheaper goods. Changes in the composition of the business put Wrist's profit margin under further pressure.

"Even though the market has been under pressure, most companies achieved good results, and thanks to a strong focus on efficient operations, margins improved in the second half of the year," the company writes.

Operating result (EBITDA) ended up being 214 million Danish kroner in 2017, compared to 206 million in 2016. Statistically, profits rose from 5,1 percent to 5,2 percent.

Wrist Supply Service, which is headquartered in Aalborg, is one of the world's leading suppliers of supplies to ships and offshore units and has a market share of 8 percent. The company employs almost 1,300 employees in offices worldwide.

Chairman of the Board of Directors of the Company is Søren Johansen, who is the CEO of the equity fund Altor Equity Partners A / S, which owns a shareholding in the company.

Source: Wrist Supply Service / Maritime Denmark

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