COVID-19 brought unforeseen challenges in 2020, but FORCE Technology ended the year with operating profits of 62 million DKK, an increase of 56 million DKK compared to 2019. This improvement was primarily driven by the divestment of several business areas.

26 May 2021

The pandemic created difficult conditions and reduced earnings in most of FORCE Technology’s sectors. However, we successfully adapted by restructuring operations and driving growth in key areas, such as testing protective equipment. The P-Scan ultrasound scanning system also achieved a significant market breakthrough. Additionally, the sale of Marine Equipment Service, SonoSteam, and Microelectronics brought in exceptional proceeds that further contributed to our positive financial results.

FORCE Technology finished 2020 with operating profits of 62 million DKK, up 56 million DKK from 2019. However, turnover declined to 1.084 billion DKK, a decrease of 184 million DKK, mainly due to the divestments. The parent company's turnover amounted to 934 million DKK.

Looking ahead: New opportunities

Though the pandemic continues to pose challenges in 2021, we see new opportunities ahead in areas like digitalisation, health, and green transformation. By refocusing our business, we’ve strengthened our core operations and increased our capital, positioning us for continued growth. We are ready to invest further in key areas, enhance our position as a GTS institute, and capitalize on the growth potential outlined in our strategic plan.

 

Download the Annual Report 2020