Milestone Achieved: Celebrating DKK 10bn in Sales
On 16 December 2023, GPV achieved a significant milestone by surpassing DKK 10 bn in sales (corresponding to EUR 1.35 bn / USD 1.45 bn). Although the interim financial results for Q3 2023 prompted an upward revision in the full-year guidance from DKK 9.9-10.3 bn to DKK 10.0-10.4 bn, GPV successfully reached this target before the end of the year.
“Though the strong result is largely driven by higher component and material prices, we are very proud of this achievement. Furthermore, the combination with former Enics and stronger-than-expected customer demand have played a significant role in the strong result. When we launched our “Winning our Future 25+” strategy in early 2022, we set an ambitious target of DKK 7.5bn in 2025. Therefore, today marks a day of great joy as we celebrate reaching this milestone well ahead of schedule,” says Bo Lybæk, CEO at GPV.
Behind the impressive achievement lies a lot of hard work and a strong capacity utilisation across the Group’s 19 production units. Despite ongoing challenges in the global supply chain, the sites have successfully decreased the order backlog that emerged in the post-COVID period.
In the latest interim financial report for Q3 2023 from 14 November 2023, GPV announced solid outlook for the full year resulting in a lift in guidance for full-year 2023 sales in the range of DKK 10.0-10.4 billion, up from DKK 9.9-10.3 billion. Considering the positive Q3 earnings, GPV furthermore raised its full-year guidance to an EBITDA in the DKK 690-730 million range, up from DKK 650-700 million previously.
GPV is scheduled to announce its annual financial results in March 2024.