Hempel reveals strong results for 2014

New strategy looks to be paying off

After enduring some tough times in recent years, the Danish coating supply giant Hempel looks to have turned it around with some solid financial results for 2014.

Despite a relatively stagnant first half in 2014, Hempel delivered a record net profit of about 530 million kroner for the year. The company’s EBITDA of 1.24 billion kroner was the highest in its history.

“Since we embarked on our growth strategy in 2010, turnover has increased by 46 per cent. More importantly, we have significantly improved efficiency and growth has been achieved without compromising our level of earnings,” Pierre-Yves Jullien, the CEO of Hempel, said.

“This has given us the momentum needed for continued growth in our three main segments and will ensure we can consolidate our position as a leading global coatings supplier.”

READ MORE: Hempel mounting comeback outside marine sector

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Furthermore, operating profits rose by about 4 percent to about 963 million kroner while revenues increased to almost 9.7 billion kroner from about 9.25 billion kroner in 2013.

The results comes just a few months after the Copenhagen-based company revealed a new strategy designed to propel it back to the top of its industry.

From traditionally covering markets within the marine sector, Hempel has begun to set its sights on investments into the global housing and industrial paint arena, a move that looks to be paying dividend. Last month, the company opened it's first factory in Africa.