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Company Announcement No. 6/2020-2021: Annual Report

·2-min read

Enclosed please find the Annual Report 2020/21 for AX V Nissens ApS, the parent company and owner of the activities in K. Nissen International A/S.

In relation to the activities of K. Nissen International A/S please find the following press release:

Significant growth and strong result from cooler manufacturer Nissens in anniversary year

The international cooling company, Nissens, now presents the annual report for K. Nissen International A/S. The realized net sales turnover of the fiscal year 2020/2021 amounts to 2,438.6 mio. DKK against last year’s net sales turnover of 1,943.6 mio. DKK. The EBITDA result of the company adds up to 314 mio. DKK against 182 mio. DKK in the last fiscal year.

The management expresses satisfaction with the result based on a year that has offered significant challenges as well as positive achievements across the companies in Nissens Automotive and Nissens Cooling Solutions business structures.

Mikkel Krogslund Andersen, CEO at Nissens, states:

”We have just concluded a year, where we have seen distinct highs and lows. Our Automotive business was severely impacted by the Covid-19 outbreak in the spring of 2020, but managed to recover well from the summer of last year and towards the year-end in 2021. During the same time period, the company has strengthened its market and competitive positions in the aftermarket thanks to the acquisition of five European companies in the AVA Cooling group. In addition, Nissens Cooling Solutions has witnessed a very busy year driven by high activity levels in the wind turbine industry, while the industrial segment observed a decreasing demand from the OEMs in the market during the first half year due to Covid-19”.

Mikkel Krogslund Andersen expresses gratitude and content over continued development:

”In the 2020/21 fiscal year, we manage to increase our group turnover by close to 500 mio. DKK, and that is an achievement that we are grateful for in a turbulent year. With a unique effort, Nissens Global Operations have delivered a noticeable ramp-up of our China factory and established a new factory in Czech Republic and through targeted activities, we have concurrently continued the implementation of adaptations to our ERP platforms, organizations and operational set-ups on a global scale. In a year, when we are proud to celebrate the 100 years anniversary of Nissens, our organizations demonstrates that we are indeed an active company with the will and ability to ensure continue development and change”.


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