KK Wind Solutions reported a 26% increase in profitability in 2024, compared to 2023, driven by the ongoing integration of acquisitions made during this two-year period.
The wind turbine ancillary equipment supplier said that normaiised EBITDA was DKK632m (€84.7m), while revenues those 40% to DKK7.7bn (€1bn).
The acquisitions made in 2023 contributed to revenue growth, while temporarily negatively impacting profitability due to integration and restructuring costs, the directors said.
The acquisitions of the converters and controls business from Vestas Wind Systems, and Nissens Cooling Solutions are crucial for the company’s strategic growth and are expected to yield positive returns in the coming years, they added.
Mauricio Quintana, chief executive of KK Wind Solutions, said: “2024 was a record year for KK Wind Solutions.
“We delivered strong commercial performance across our business and set a new revenue milestone of more than €1bn, while significantly improving profitability.
“We are pleased with these results which exceeded expectations. The integration of the acquired assets impacted our bottom line in 2024, although these acquisitions will enable our future growth ambitions.”
In 2025, the company anticipates limited organic growth and expects improved profitability driven by synergies from the acquisitions, process enhancements and efficiencies, as well as procurement savings due to increased scale.
Revenue is expected to range between DKK7.5bn and 7.9bn in 2025, with an EBITDA margin of 7-9%, and normalised EBITDA margin of 8-10%.
Total investments are expected to amount to approximately DKK200-300m. The result after tax is expected to improve compared to 2024.