Annual Profile 2010 - Introduction by the COO 

The full annual profile can be seen as an E-paper version here

2010 - Back on track with a new Pressalit

This is hopefully the last time I have to mention the challenges caused by the financial crisis in my introduction to Pressalit’s annual profile. After two difficult years, we are now finally seeing clear signs of growth returning in our industry. Germany is the major locomotive in Europe right now and, as our largest export market, is making an impact that can be felt here at Pressalit.
A new optimism is on the way.

The annual financial result also shows that Pressalit is getting back on track, even though there is still some way up to the earnings we saw before the financial crisis. Group turnover in 2010 was DKK 460.4 m, and the earnings before interest and tax (EBIT) show a modest profit of DKK 27.6 m. Both of our business areas are working intensively to establish new market opportunities and Asia in particular is a region we will be targeting in an effort to establish a new platform in the coming years. As you can read later in this profile, Pressalit’s new factory in Thailand is off to a good start and will be an important asset in this effort.


However, we did not avoid having to make difficult decisions in 2010. The two most prominent were the decisions to close our production facilities for Pressalit Care in Eastbourne and Skejby. We had to recognise that for many different reasons we never succeeded in making these two units into healthy businesses. We gathered valuable learning in many areas, especially from Skejby, where we are continuing with the kitchen range developed there.
But on the whole it was a strategically wrong decision to enter into these areas. We know this to be true, and we have now accepted the consequences. The sound parts of these two production sites are being moved to Ry and the rest was phased out around the turn of 2010/2011.
Depreciation from the two factory closures has affected our profit negatively, but now that these losses are realised, our clear goal now is to further improve the bottom line in 2011.


We have been able to steer the company through the turbulent period because we have strong human resources at all levels of the company. Many people take care of Pressalit and make great efforts for the company every single day. On this subject I would like to highlight a certain individual – our chairman of the board, Ib Christensen, who for many years has been an invaluable chairman for Pressalit’s ­activities. At the annual meeting in 2011, he will resign from the board, and we have reason to thank him for the effort he has made for Pressalit since the generational handover 13 years ago.


As shown in this annual profile, Pressalit enters 2011 with a new identity. We have just launched a new brand and logo structure that simplifies and enhances our look. The Pressalit name is at the centre and, as something new, there is also a recurring profile across our business areas. We look forward to telling you more about our work with the brand and much more on the following pages.