Annual report 2012 (Press Releases)

Annual report 2012:
Topsoe delivers best result ever

Haldor Topsoe A/S’s operating profit in 2012 was the best ever in the company’s history.

Turnover increased with 19% to DKK 5,244 million compared to DKK 4,421 million in 2011 while the company’s operating profit (EBIT) increased 27% to DKK 593 million in 2012 compared to DKK 467 million in 2011. This corresponds to an EBIT margin of 11.3% and was achieved in spite of increased R&D expenses.

All key business units experienced solid growth in 2012 based on an increased interest for the solutions that Topsoe offer to address key global challenges related to the environment, energy efficiency, and food supply. Expansion and modernization of the chemical, refining and power industries is creating new growth opportunities in all regions of the world.

“The world is facing environmental challenges combined with fast-growing energy consumption and increasing energy prices, scarcity of resources and significant issues with food supply. These megatrends are driving growth in our business because the solutions and technologies we deliver can help address these challenges,” says Bjerne S. Clausen, Chief Executive Officer in Topsoe.

In 2012 Topsoe restructured its organization around three primary business units: Chemicals, Environmental and Refinery, to address the needs of customers more efficiently. A fourth unit; New and Emerging Business Unit was also established to focus on taking new business areas forward.

In addition Topsoe launched a new ambitious growth strategy named “30 in 25” that outlines the road to achieve additional growth based on its current strengths and R&D potential. As part of this strategy the company aims at reaching a total revenue of DKK 30 billion in revenue in 2025 without eroding the strong profit margins that Topsøe has consistently displayed in recent years.

Financial highlights

Turnover increased with 19% to DKK 5,244 million compared to DKK 4,421 million in 2011 while the company’s operating profit (EBIT) increased 27% to DKK 593 million in 2012 compared to DKK 467 million in 2011.

• Cash flows from operating activities remained at a high level and amounted to DKK 786 million compared to DKK 796 million in 2011.
• Sales was distributed across all regions of the world, not exposing Topsøe specifically to financial development in any part of the world.
• Topsøe employed 2200 employees globally in 2012 which represents an increase of 5% compared to 2011. The staff increase took place in both Denmark and around the world.

Key financial figures (Haldor Topsoe A/S Group)

Topsoe expects revenue to increase in 2013. The company expects to further increase its R&D expenses with EBITDA/EBIT levels on par with 2012. 

Press contact 
Kristine Ahrensbach, VP
Corporate Communications & Marketing
Tel.: +4525529547