Triax A/S

Development in activities and financesEnd of March 2021 the joint venture of Triax A/S and Klode Multimedia was formed under the ownership of TRIK Holding. The joint venture brings together two well reputable companies operating in the same industry with a strong combined product portfolio and a widespread geographical coverage.

During 2021 a number of integration and restructuring activities have taken place in order to harvest synergies from the merger. These activities have been diligently planned and executed to secure no disruptions in servicing customers and market needs. Incurred restructuring cost have been expensed in 2021.

In line with expectations, the market place has also in 2021 been impacted by the Covid-19 crisis, where particularly the hospitality segment has been negatively impacted. As a consequence of the global supply chain crisis TRIK has increased inventories to secure ability to serve customer needs. However, both the pandemic and the global supply chain crisis has impacted financial performance negatively.

Revenue in Triax A/S was DKK 143.3m in 2021 (2020 127,5m) with an operating loss of DKK 13.2m (2020 11,125). The overall result is considered unsatisfactory, but expected, as significant costs have been spent to restructure and integrate the business to secure a profitable platform for the future business.

In line with the defined strategy of being a strong technology provider of new unique products to selected major customer and market segments, TRIK continued its investments in core technology platforms in 2021. As a result, a series of innovations and new products were launched during 2021 and more are planned to be launched in 2022. The TRIAX Cast solution – a secure casting solution offering guest a true home-from-home experience while staying at hotels – was launched in 2021. The Triax Cast is an example of a product launch benefitting from the combined forces of the R&D departments in the joint venture.