DESMI has reported 2023 as a landmark year. Despite experiencing an expected market contraction in the ballast water management system business, which in the recent years has accounted for a significant portion of its revenue, the company has outperformed its expectations.
The upcoming regulatory deadline for retrofit of ballast water management systems on certain marine vessels by September 2024 had prepared it for a market decline; however, a remarkable 25% growth in DESMI’s core pump business across all other business segments has propelled it to its highest ever revenue: 1,954 million DKK (an increase of 4% compared to 2022).
“We are very pleased that we have achieved substantial growth in our core marine, industry, and defence segments, alongside a strong growth in our global service and aftermarket business,” said Group CEO Humphrey Lau. “The development is a testament to our competitiveness, strong partnerships with customers around the world, and the dedicated work of the more than 1,000 DESMI employees globally.”
DESMI will celebrate its 190th anniversary in 2024, but it is not resting on its laurels.
An ambitious growth strategy both organically and via strategic acquisitions has been unveiled with a commitment to innovation within Flow Technology. The target for 2028 is to double revenue alongside strategic investments in product development, organisational structure and processes to deliver increased value to customers, stakeholders, and societies at large.
