A New Chapter of Strategic Restructuring and Future Growth

Nordmark has released the annual report for the financial year 2024. While the year has been challenging, it has also marked an important turning point for our organization. The reported loss was primarily driven by the necessary restructuring activities implemented over the past year, which have now positioned Nordmark for a stronger and more sustainable future.

Restructuring for Long-Term Efficiency

The primary factors behind the 2024 loss include:

• Cuxhaven Operations: The temporary solution implemented for coating in Cuxhaven, combined with the subsequent closure of the facility.
• Skagen Closure: The shutdown of our operations in Skagen.
• Extraordinary Write-Down: A one-off write-down of goodwill has been recorded. This measure, while impacting the current financials, will lead to lower depreciation costs going forward.

These steps, although challenging in the short term, have allowed us to consolidate our operations and significantly reduce our structural costs. This streamlining not only simplifies our operational setup but also contributes to a leaner balance sheet, where both assets and debt have been reduced, resulting in an improved equity ratio.

Positive Operational Performance in Sæby

Amid the restructuring, our location in Sæby has demonstrated a positive operating performance throughout 2024. This trend is expected to continue into 2025 as our core operations in Sæby drive our growth and profitability.

Investing in Future Growth

In line with our commitment to operational excellence and growth, we are excited to announce a strategic capacity expansion at our Sæby facility. An approved investment in new milling machinery is set to enhance our capacity for processing large components. Together, these investments underscore our readiness to capture new opportunities in the rapidly expanding wind energy market.

Looking Ahead

Despite the significant restructuring challenges in 2024, Nordmark is now in a much stronger financial position than one year ago. Our streamlined operations, reduced running costs, and robust balance sheet lay the foundation for a positive turnaround in 2025. As key partners for clients, we remain committed to delivering high-precision components and are confident that our strategic measures will yield a positive financial result in the coming year.