Kjaer Group Continues Growth in 2008
June 2, 2009
The Best Year Ever!
In the fiscal year 2008, net turnover reached DKK 954 million an increase of 33% compared to 2007. During 2008 various initiatives were undertaken to strengthen and ensure the gross profit which resulted in additional improvement of both the operating result (EBIT) and earnings after tax reaching DKK 57 million (+83%) and DKK 33 million (+139%) respectively.
Per S. Lundgren, CEO says: ”...We are very pleased with the performance and the results for 2008 and not least because all key markets and key businesses have contributed and this despite the global financial crisis and economic slowdown.
However, maybe even more important than the financial performance is the confirmation of our strategy and way of doing business that we get through the recognition and appreciation from our customers and partners.
An important example is that together with, and among others, Google, Coca-Cola and General Electric, Kjaer Group was nominated among the Top Ten best corporations in Global Development in 2008 by the largest coalition of U.S.-based international NGOs (Interaction). The nomination was among others based on Kjaer Group’s extensive work with road-safety in Africa and the co-founding of MyC4 (www.myc4.com) an internet based platform to raise capital for entrepreneurs in Africa.
In 2008 Kjaer Group employed 261 people (+21%) full time and dedicates more than 45 years of experience to deliver top quality and world class automotive services in emerging economies.
It is the ambition to be the preferred partner for manufacturers with an interest in gaining access to or improving their existing business in Sub-Sahara Africa, and to be the preferred partner and services provider worldwide to all key players in the international Aid and Development sector.
Please click here for the online version of Kjaer Group's Annual Report 2008
For more information, please contact:
Per S. Lundgren, CEO p.lundgren@kjaergroup.com
Klaus Karstensen, CFO k.karstensen@kjaergroup.com
Kjaer Group A/S
Grønnemosevej 6
5700, Svendborg
Tel.: +45 62 221 111
