Although turnover increased, it did not manifest itself in a positive bottom line, and 2023 was a financially disappointing year for FORCE Technology. But we came back strongly in the first months of 2024 with continued turnover growth and a satisfactory revenue.

24 May 2024

After several challenging years, in which the Covid pandemic, failing supply chains, war, inflation and the energy crisis challenged FORCE Technology's finances, we entered 2023 with expectations of moderate growth in turnover and earnings.

But the difficult circumstances continued. Large price increases in rent, materials, electricity, fuel and equipment as well as soaring interest costs made our costs grow significantly. So despite a good order intake, a high level of activity and a turnover that rose 12 percent to DKK 1,190 million, our earnings were low in 2023, and we ended up with an unsatisfactory operating result of DKK -5.0 million.

New investments and ventures

But the increasing turnover also tells the story of a year with a high level of activity, many exciting tasks and satisfied customers in core areas such as green transition, life science and digitalisation. And 2023 was also a year of acquisitions, investments in the future, new ventures within AI and digitalisation, record-breaking activities within research and development and better working conditions for the employees.

Read more about our activities in the annual report.

We have also had an incredibly good start to 2024 financially. This is primarily due to a strong effort by our employees as well as good customer relations and framework agreements.

ESG report also published

Sustainability is an important part of FORCE Technology's strategic focus both internally and externally. Therefore, this year we have expanded our reporting and publish an ESG report, which collects data and describes our efforts to reduce emissions, improve waste management, increase diversity, limit sick leave, reduce the number of accidents and maintain high ethical standards for our finances, management and general conduct.

Read our ESG report.