24 Mar, 2023

Annual accounts 2022

HMK Bilcon is on the right course.

In 2022, the North Jutland construction company has got a handle on projects and finances. There is a record order backlog, so the prospects are good.

The 2022 result is described as unsatisfactory for the company, but projects have been put under control and the future looks significantly better. Revenue has grown by 5% compared to 2021, and there is a profit.

There is an increase in orders for all newly developed and well-known products, with defence customers in particular making up a larger share.

Operations are constantly improving

The result is positive, despite one-off costs for a large and corona-affected project in all areas, which was completed in the first quarter. Managing director Peter Jensby explains that things have been rectified, and therefore a profit is also as expected.

There is progress on the markets in Denmark, the Faroe Islands, Norway and Sweden, and the largest increase in orders comes from the defence segment.

The number of full-time employees has increased from 90 to 93, including 7 apprentices, 3 in flexible jobs and 3 in senior jobs. The company continues to work with extensive digitization and automation. The counter-purchase project with a very large group within the European defence industry is following the plan. The first welding robot has entered production, the company has achieved certification according to the German standards (DIN 2303) for welding in hard steel, and the next milestone is certification for welding in reinforced steel.

International growth

According to the managing director, 2023 will be a year with greater profits due to greater sales of the newly developed products as well as dual use products to European defence customers.

“Sales are increasing, and we are modularizing all products, so that it will now be easier to automate and/or outsource parts of the production. This allows us to better scale our business and drive our costs down, which is an ongoing process.”

Peter Jensby says, “the order backlog and pipeline are record high, and now spread over more products and geographic markets than before. The international growth has started with orders from several European countries for our special defence industry products, including the expandable trailers.”

HMK Bilcon A/S

HMK Bilcon was founded in the year 1895 and is specialized in the manufacture of tanker solutions for the transport of biofuels, oil and petrol, special products for the European defence industry, IOT control systems as well as mobile clinics and mobile hospitals.

For further information contact:
Adm. director Peter Jensby, HMK Bilcon A/S: phone no. +45 30 78 47 68.