Caljan A/S

Development in activities and financial position




The Caljan Group continued to perform very well during 2022 with high sales and a very good result. Compared to 2021 we have seen a growth in the Caljan Group sales of 34% in 2022. For the parent company sales were 33 % above last year and the main driver for the increased sales is the general growth in e-commerce. We have therefore seen good growth in all our main markets, with a 36% growth in Europe and a 28% growth in sales outside Europe going mainly to the US. Especially our key accounts within e-commerce and parcel carriers have increased their demands for our products and solutions. The challenges in the global supply chains continued to impact deliveries and freight rates during the year, but towards the end of 2022, we did see improvement. Despite the supply chain challenges, we were able to minimize the impact on deliveries to our customers. The war between Russia and Ukraine has had a significant impact on prices with increasing inflation. For Caljan the main impact has been on steel and energy, but we have also seen price increases on many other components. The increased cost level has been under control during the year, but also made price increases for our customers necessary. Even though we have seen significant challenges with supply chains and cost levels during 2022, we have also through internal optimizations and focus been able to increase our margins. And as the development of our fixed costs has been under control, we have been able to deliver a significant improvement in the operating margin being improved from 11.7% in 2021 to 17% in 2022.



Our foreign subsidiaries have been able to pay a total of DKK ('000) 64,308 in dividends to the parent company due to very good performance and results which also is a significant contribution to the reported results for 2022. The profit before tax for 2022 of DKK ('000) 197,496 is therefore considered very satisfactory and is a 128% growth compared to 2021. Order intake was very strong during the first half of 2022, but due to the general economic climate, we did see a decrease in order intake in the second half of 2022. The backlog ending 2022 is however still on a good level going into 2023. Due to the strong financial performance during 2022, the equity increased from DKK (‘000) 341.911 in 2021 to DKK ('000) 449.181 in 2022. This also gave an improvement in the equity ratio from 63.8 in 2021 to 68.7 in 2022. The financing of the Caljan Group is mainly based on a strong equity and own generated cash. Intercompany loans between the parent company and the subsidiaries have been established for internal funding in combination with a cash pool setup via our main bank. For the Caljan Group the net cash position was equivalent to DKK (‘000) 80.600 at the end of 2022 and a further credit limit of DKK (‘000) 30.000 was available. This is viewed to be more than sufficient to fund the Caljan Group operations.