Annual report: Robust exit from a year of historic difficulty for FORCE Technology
COVID-19 made for difficult conditions in 2020, but FORCE Technology achieved satisfactory operating profits of 62 million DKK. This is an increase of 56 million DKK relative to 2019, due primarily to the divestment of several business areas.
In 2020, the coronavirus pandemic produced difficult, unexpected conditions and a decline in earnings for most of FORCE Technology's business areas. However, we succeeded in restructuring many activities, and we were able to increase growth in such areas as the testing of protective equipment. The P-Scan ultrasound scanning system also achieved a market breakthrough, and exceptional divestment proceeds from the sale of the Marine Equipment Service, SonoSteam, and Microelectronics also positively impacted profits.
FORCE Technology thus exited 2020 with operating profits of 62 million DKK. This is an increase of 56 million DKK relative to 2019. The group's turnover was 1084 million DKK, which is 184 million DKK less than in 2019, due to the divestments. The parent company's turnover totalled 934 million DKK in 2020.
While FORCE Technology is facing yet another unusual year, in which the coronavirus will continue to be a source of difficulty, this unique situation also comes with new opportunities that we are ready to seize in areas like digitalisation, health, and the green transformation.
The work of refocusing the business has also strengthened our core business and increased FORCE Technology's capital, enabling us to further invest in selected business areas, strengthen our position as a GTS institute, and be well prepared for the growth set out in our strategy in the years to come.