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Satisfactory 2019 annual report

Hjerno Tool Factory, Denmark's largest manufacturer of injection moulding tools, ended 2019 with yet again satisfactory accounts that reflect the company's ambitious growth strategy.

Gross profit grew from DKK 33.75 million to DKK 35.65 million, which can be attributed, among other things, to increased sales and satisfactory order intake. At the same time, equity grew by just over DKK 10 million to DKK 23.9 million.

Profit for the year after tax landed at just over DKK 2 million, which is less than 2018. This is primarily due to investments in both people and machines. Several millions have been invested in advanced technology, and significant investments have been made in a strengthened organisation with more employees and more managers.

The future belongs to the large tool factories

The 2019 annual report thus align with Hjerno's overall strategy of moving from a medium-sized to a large tool factory. A strategy that was further turbocharged with last year's investment from Vækstpartner Capital, which in this connection acquired 2/3 of the company.

"We are convinced that the future belongs to the large tool factories that can offer both high capacity and fast delivery times as well as a wide range of specialist services," says Aage Agergaard in connection with the annual report.

In 2019, Hjerno has therefore, among other things, invested in new machines for the production as well as its own comprehensive order planning system, OrderFlow, which is an IT system developed specifically for Hjerno's needs.

Larger organisation

In addition to this, more people have been employed, which means that the number of employees has now passed 60 people. This too has required investments in new routines and a larger organisation with more managers and coordinators.

“We have great confidence in the future and in the continued growth of the company. In this connection, I am also pleased to see that it has become easier to recruit skilled employees, which has otherwise in previous years been a significant challenge,” concludes Aage Agergaard.

The distribution between domestic sales and exports was, moreover, as expected, and Aage Agergaard has also noted increased sales of ultra-precise metal components to other highly specialised industries.