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Annual report 2017

DEIF increases the sale of green energy technology

The DEIF Group reached a slight 2% improvement of the turnover in 2017, which equalled 620.9 MDKK. The result after tax was 7.1 MDKK compared to 6.8 MDKK the year before.

DEIF saw a significant increase in the sale of green and reliable energy control solutions. In contrast, the marine and offshore market continued to generate a decreasing turnover due to the fact that since the plummeting oil prices in 2014 the number of ships and drilling rigs being built has fallen much below previous years.

”We’re satisfied with having managed to increase turnover despite the challenging conditions on the marine market. A main player in making that possible was DEIF’s venture into wind turbines and other green and reliable technologies. The transition reduces DEIF’s profits in the short term, but we have decided to continue investing heavily in product development. In fact, we’re spending no less than 16% of the turnover on product development – because our faith in the future remains strong,” says Toke Foss, CEO and owner.

In recent years, DEIF has become a leading supplier of control solutions for wind turbines in China. In addition, DEIF has increased the focus on the global market for wind turbine retrofits, enabling the owners to drastically reduce service costs while at the same time extending the lifetime of their turbines and greatly benefiting the environment. To further support that, DEIF has recently established a representation in Austria which employs eight highly skilled specialists.

Other areas are growing too: DEIF has reached a leading global position within control solutions for hybrid plants that minimise environmental impacts as well as operating costs by combining different energy sources such as solar panels, batteries, wind turbines and diesel generators. ”Using DEIF’s solution, you can even run the plant according to the weather forecast”, Toke Foss continues. The immense focus on data and cyber security has also increased DEIF’s business within control of advanced emergency power plants, for instance for data centres, hospitals and airports.

DEIF expects both turnover and profit to increase in 2018 – based on a continued green growth, a stabilised marine market and a recent organisational adjustment that reflects the changed market conditions. DEIF has 630 employees in 14 countries, 400 of these in Denmark.