Company type
Limited Corporation
Established
1995
Size
Large
Employees
262
Revenue
890 MDKK
Gross profit
319 MDKK
Operating Profit (EBIT)
125 MDKK
Profit for the year
52 MDKK
Equity
259 MDKK
ad

More financial key figures and analyses?

In Bisbase Premium you get more financial key figures for both companies, groups and industries plus access to exclusive industries complied by experts. You can also create your own analyses! It only takes a minute or so - and it's free!

Rank Profit for the year

Rank in industry
1/42
"Top 10%"
Rank in Denmark
3,146/322,677
"Top 10%"

Top management Top 3

Board Top 3

Steven Pocock 1Chairman of board
Michael Nielsen 2Boardmember
Peter Flemming Sørensen 11Boardmember

Legal owners Top 3

100%PPG Industries Europe Sàrl

Rights certificate

Selskabet tegnes af bestyrelsens formand, bestyrelsens næstformand eller den administrerende direktør, hver især i forening med en direktør eller et bestyrelsesmedlem, eller af den samlede bestyrelse.

Company information based on CVR

NamePpg Coatings Danmark A/S
Alternate names+Plus Malergrosisten Herlev A/S, +Plus Malergrossisten Aalborg A/S, +Plus Malergrossisten Esbjerg A/S, +Plus Malergrossisten Vejle A/S, +Plus Malergrossisten Viborg A/S, +Plus Malergrossisten Århus A/S, +Plus Paint A/S, A/S Pieter Schoen & Zoon, Danish Indian Paint Company A/S, Dyrup A/S, Farve- og Lakfabriken S. Dyrup & Co. A/S, Farveriget A/S, Gjøcodan A/S, Gori A/S, Pigmenta A/S, Plus Farver A/S, Plus Maler A/S, Plus Malergrossisten A/S, S. Dyrup & Co. A/S, Sigma Coatings A/S, Sigma Service Center A/S, Sigmakalon Danmark A/S Show more
CVR18998696
AddressGladsaxevej 300, 2860 Søborg
IndustryManufacture of paints, varnishes and similar coatings, printing ink and mastics [203000]
Established18-12-1995 (26 yr)
Company typeLimited Corporation
Number of employees294 (man years:276)
Advertising protectionNo
AuditorPricewaterhousecoopers Statsautoriseret Revisionspartnerselskab since 25-06-2013
Financial statement period01-01 to 31-12
Bank connectionDanske Bank
Company capital110,000,000 DKK
100,000,000 DKK (31-05-1996 - 09-07-2008)
1,500,000 DKK (15-01-1996 - 30-05-1996)
500,000 DKK (19-12-1995 - 14-01-1996)
Articles of assoc. last30-06-2021

Purpose

Selskabets formål er - direkte eller via besiddelse af kapitalandele i andre selskaber at drive industri-, handels- og investerings-virksomhed, herunder fremstilling og afsætning af maling, træpleje og speciallistprodukter og dermed beslægtede produkter.

Financial Statement

 202020192018
Currency/unit000' DKK000' DKK000' DKK
Revenue
890,449
+19%
746,247
-7%
803,585
+6%
Gross Profit
318,863
+43%
222,631
-3%
230,288
+2%
Profit for the year
52,386
-
-5,545
-
25,129
+51%
Equity
259,001
+26%
206,099
-3%
211,644
+13%
Total Assets
617,247
+17%
526,074
-4%
547,221
-10%

Mangement review

The Company's principal activities PPG Coatings Danmark A/S is a wholly-owned subsidiary of PPG Industries Inc. headquartered in Pittsburgh, USA. As a global supplier of paints, coatings, optical products, and specialty materials, PPG Industries Inc. operates in more than 70 countries and employs around 47,000 people to bring life to our purpose and promise: WE PROTECT AND BEAUTIFY THE WORLD™. The activities of PPG Coatings Danmark A/S comprise production and distribution of paints, wood stain products and speciality products and we employ 262 people. Our production takes place at the factory in Søborg, Denmark, but products are also purchased within PPG Industries Inc. and from external suppliers. Distribution primarily takes place through the major 'do it yourself' chains to end-users or through PPG Coatings Danmark A/S' 21 professional paint centres where professional decorators buy products and tools. In line with our corporate purpose and promise, the objective of PPG Coatings Danmark A/S is to deliver quality products and continuously develop technologies that provide additional benefits to our customers. Development in activities and financial matters The Company's Income Statement of the financial year 1 January 2020 - 31 December 2020 shows a result of DKK 52.386.042 and the Balance Sheet at 31 December 2020 a balance sheet total of DKK 617.246.755 and an equity of DKK 259.001.119. Expectations for the future The Company expects the operating profit to be between DKK millions 70 and DKK millions 120 in 2021. Net profit/loss for the year compared with expected developments in the most recently published annual report The operating profit is above our expactations. Statement on sustainability Through our business and principle activities, PPG Coatings Danmark A/S contribute to PPG Industries Inc.'s continued efforts to enhance and strengthen sustainable operations and bring life to our corporate purpose and promise. In line with PPG Industries Inc.'s sustainability vision we are committed to delivering lasting value for shareholders and customers by operating with integrity, working safely, respecting the contributions of our people, preserving the environment and supporting the communities where we operate. Furthermore, we launched in 2018 corporate sustainability goals towards 2025 that guides our company in implementing sustainable business practices. Our research and development portfolio is driven by environmental stewardship and our goal is to achieve 40% of sales from sustainable products and processes by 2025. For more detail see PPG Industries Inc.'s consolidated sustainability report available at www.sustainability.ppg.com. At PPG Coatings Danmark A/S, we primarily focus our sustainability efforts on our production facility in view of potential risks related to the environment, health and safety (EHS). We comply with applicable law and PPG Industries Inc.'s sustainability policies that respond to identified risks and opportunities and details internationally recognized standards within the area of the environment, human rights including labour rights, anti-corruption and corporate governance. Similarly, we expect our suppliers and their subcontractors to comply with applicable law and to adhere to the standards described in our Global Code of Ethics. Environment, health and safety Our EHS Policy states that PPG Industries Inc. market, distribute and manufacture products globally in a responsible manner that protects employees, neighbors, customers and the environment. The policy incorporate elements of Responsible Care and Coatings Care initiatives and emphasizes our commitment to continuous improvement and sustainability.   Through our global EHS management system 'PPG EHS Management System', we work to meet our objectives and monitor our performance at our production facility. Our Danish EHS Leadership Team has 16 members representing different parts of the business. Our EHS Leadership Team summons monthly to discuss progress and perform annual assessment of EHS risks and prioritized actions accordingly.   Our EHS efforts in 2020 where heavily impacted by Covid-19 crisis management and the implementation of 50+ health preventive global protocols. Scandinavia made it through 2020 successfully without any workplace related covid-19 cases across all activities. Amongst Covid-19 we continued to drive implements across strategic programs such as Spill Prevention, Slip, Trip & Falls, Ergonomics, Management of Chance and Process Safety. At our manufacturing site in Soborg we achieved significant improvement in our energy intensity (productions volume/energy consumption) driven by high production volume and benefitting from past years energy savings initiatives. Our key Environmental Health & safety practice and corporate goals include (2017 as baseline):  Waste: The more efficient we use materials to make our products, the less waste we produce, the fewer resources we consume and the more money we save. We work toward absolute material utilization throughout our manufacturing processes followed by eliminating, minimizing, reusing and recycling the waste materials we do produce. Our corporate 2025-goal is a 25% reduction in waste.   Water: We see it as our responsibility to optimize water use through conservation and reuse and continue to reduce our consumption of water in our production. Our corporate 2025-goal is a 20% reduction in water consumption. Energy: Most of our manufacturing processes are not energy-intensive, but we are committed to reducing our energy consumption to minimize our greenhouse gas (GHG) emissions, reduce costs and create more energy efficient facilities. Our corporate 2025-goals are a 15% in energy reduction and a 15% reduction in GHG emissions. Spill and releases: We have strong management practices in place to prevent spills and releases, and our corporate spill-elimination standard requires the establishment of a spill-elimination program at our facility. Our corporate 2025-goal is a 65% improvement in our spills and release rate. No spills (Cat I, II, III) were recorded in 2020.   Injury & Illness: The corporate target of PPG Injury and Illness (PPG II) incidents is zero. PPG I&I includes fatalities, amputations, 30 or more calendar days of away from work and third degree burns. PPG Coatings DK with 0 I&I's in 2020. EHS key performance indicators 2020 Total waste intensity (metric tons/100 ton production): 2020: 5,47 (2019: 6,17; 2018: 7,07) Water usage intensity (cubic meters/metric ton production): 2020: 0,19 (2019: 0,20; 2018: 0,21) Energy intensity** (million British thermal unit/metric ton production): 2020: 0,60 (2019: 0,80; 2018: 0,75) Spills and releases (category I, II and III) rate*): 2020: 0,00 (2019: 0,00; 2018: 1,20) PPG II incident rate***): 2020: 0,00 (2019: 0,00; 2018: 0,00) In conclusion, 2020 showed continued improvement of performance on our incident rates and sustainability rates. The EHS indicators for PPG Coatings Danmark A/S' production facility are prepared in accordance with PPG Industries Inc.'s EHS accounting principles. *) The rate is calculated by multiplying the number of Incidents (Category I/II/III) by 200,000, and then dividing that number by the number of working hours at the site. **) Energy intensity is a rate calculated by electricity and natural gas/production volume. It does not include district heating. Energy consumption by district heating has been reduced by 7,2% from 2018-2020. ***) The rate is calculated by multiplying the number of Incidents by 200,000, and then dividing that number by the number of working hours at the site. Employee relations and human rights Our 262 employees are a key asset and intellectual capital resource - to the operations of PPG Coatings Danmark A/S. In 2020 there have been a special focus on our employees' mental health and keeping everybody safe during the COVID-19 pandemic. With high hygienic standards and clear processes all employees have been fully functional either by working from home or on site as our stores and production facilities have not been under lockdown in 2020. In addition to operating safe and healthful workplaces especially under the COVID-19 pandemic it is pivotal that we are able to attract and retain our employees and that they have the right competences. Hence, a clear focus on learning and development is crucial to ensure that we keep our employees engaged, productive and successful at every stage of their careers. We are committed to promoting from within wherever possible while also bringing in new ideas, thoughts and insights. It is Management's assessment that PPG Coatings Danmark A/S has the right competences to develop its business positively going forward. Overall, our Global Code of Ethics sets the standard for the relationship between PPG Industries Inc. and its employees. At PPG Coatings Danmark A/S, the HR-department manages employee related matters in view of the Code to nurture a good working environment end accelerate employee development. Our work council, which engages a representative from management, HR and our production facility, met four times in 2020 to discuss pertinent issues and assess progress in our work. Furthermore, our trade union representative union member represents and gives advice to employees if they have work-related problems. Our Code and daily practice in 2020 focused on: Diversity: We value differences among us in experience, perspective, background, race, age, national origin, religion, sex, sexual orientation, gender identity and/or expression, culture, interests, geography, and style, and we strive for a collaborative environment in which everyone has a chance to succeed. We base employment decisions on job qualifications and merit, which include education, experience, skills, ability, and performance. Human rights, including labour rights: We respect the dignity and human rights of all people, and we comply with all laws pertaining to freedom of association, privacy, collective bargaining, immigration, working time, wages, and hours, as well as laws prohibiting forced, compulsory and child labour, human trafficking, and employment discrimination. Non-discrimination and harassment: We give equal employment opportunity to and will not discriminate against individuals on the basis of any status protected by applicable laws. We are committed to providing a workplace that is free from harassment and bullying. Data privacy: We respect individual privacy rights and are committed to collecting, handling, reviewing, and protecting personal information responsibly and in compliance with applicable privacy and information security requirements and laws. We strive to respect the privacy of our employees by honoring our legal requirements and upholding high ethical standards. We did not introduce new initiatives per se in Denmark in 2020, but continued to also nurture a culture of health, where our employees become responsible for their individual well-being through informed, active participation in health and wellness activities. We focus on nutrition, exercise, health screenings and mindfulness/stress which research has identified as key to our employees overall well-being. For example, the wellness program at PPG Coatings Danmark A/S, which has been in place for a number of years, includes yoga classes. Our corporate 2025-goal is that 100% of PPG facilities have wellness programs. Anti-corruption and bribery Our Global Code of Ethics and Global Anti-Corruption Policy make clear that PPG Industries Inc. prohibit bribery and corruption in all of its business dealings in every country. We must govern our conduct in order to conform to the rigorous anti-bribery and anti-corruption laws in place throughout the world. Hence, PPG Coatings Danmark A/S' employees and intermediaries are prohibited from making, offering or accepting bribes, payments or anything of value in order to improperly obtain or retain contracts, business, government approvals, favourable tax or customs rulings, or to secure any other improper business advantage, with any entity or individual. At PPG Coatings Danmark A/S, we have established internal controls and accounting practices to prevent and reduce the risk of use of funds for bribes or unlawful payments. Furthermore, our Global Code of Ethics provide guidance to our employees in their daily business conduct. If there is suspicion or known violations of our policies employees must report the information to our global Chief Compliance Officer, Danish counsel representative or they can use our corporate confidential, anonymous 'Ethics Hotlines'. In 2020 all employees at PPG Coatings Danmark A/S engaged through our annual mandatory online training and our Corporate Audit Services regularly monitor and review employee compliance with the Global Anti-Corruption Policy. Statement on gender distribution in management To ensure that employees feel valued and respected, PPG Industries Inc. is committed to providing a workplace that embraces a culture of diversity and inclusion. It is in our policies to consider diversity among employees and within management as a strength for the business. We are actively promoting gender diversity and it is PPG Coatings Danmark A/S ambition to increase the number of women in management. Our target for gender representation within our supreme management body, the Board of Directors, is to have one woman among the three members elected by the annual general assembly no later than 2025. As all members of the Board of Directors were re-elected in 2020, there are currently no women represented. The representation of women in management, which represents the management team, is 18%. This is slightly below the level in 2019 where it was 20% despite our efforts to improve gender distribution in management in 2020. To improve gender distribution it is part of our practice to shortlist both male and female candidates when we hire or promote employees to management positions. We also provide equal opportunity for all employees to increase their skills and competences through additional training and education and we continue to retain and nudge female colleagues with management potential and ambitions to seek a career within PPG. The overall objective of the PPG Group is to have the highest standards within Corporate Social Responsibility. Considerable resources have been used to implement the global standards for especially environment and work environment. Subsequent events Covid-19 still has a great impact on the global economy, however the Management is not expecting any negative impact on the Company's revenue and profit in 2021 due to Covid-19.

Development in activities and financial matters The Company's Income Statement of the financial year 1 January 2020 - 31 December 2020 shows a result of DKK 52.386.042 and the Balance Sheet at 31 December 2020 a balance sheet total of DKK 617.246.755 and an equity of DKK 259.001.119.
19-05-2021

Map