Pascal A/S

Pascal A/S: A Tale of Triumph in Challenging Times
We are thrilled about the last year’s achievement and the outlook for the years ahead.

We are grateful to our employees, customers, partners, and stakeholders for their trust and support, which has been instrumental for our journey.
Driving Innovation in the Pro AV Industry
Pascal A/S, a leading player in the Pro AV industry, specializes in delivering cutting-edge hardware and software solutions. Our journey began in the world of amplification modules, and today, we've evolved into a dynamic force, operating both as an OEM/ODM partner under the Pascal brand as well as under our Blaze brand. This dual approach allows us to leverage the efficiency of the ODM model while gaining valuable insights from selling under our brand. It's a win-win strategy that continuously elevates the quality of our offerings, benefiting customers in both segments.
Customer-Centric Excellence
At Pascal, we're driven by a relentless commitment to our OEM customers. We aim to be the go-to partner in the Pro AV industry, offering customized high-quality amplification solutions with unparalleled speed to market. We take pride in our customer-centric mindset, ensuring that every interaction with Pascal, from innovative product solutions to swift, reliable deliveries, is as smooth as it can be.
The Pascal brand is synonymous with innovation in amplification solutions and software controls, catering to a wide spectrum of sectors, from commercial installations to residential settings, portable PA systems, and the dynamic world of touring and live events.
Blaze, on the other hand, is on a mission to servicing the commercial installation sector, as the preferred choice for distribution and installation partners. We offer a seamless and efficient experience, providing specialized amplification, control systems, and speakers tailored to the unique needs of this sector.
FY22/23 - Overcoming Challenges, Delivering Excellence
The fiscal year 22/23 posed significant challenges for Pascal A/S, with hurdles like component shortages, logistical complexities, and the ongoing conflict in Ukraine. Moreover, customer demand saw substantial fluctuations. In the face of adversity, Pascal stood firm, unwavering in our commitment to our valued customers. Throughout the fiscal year, we maintained exceptional reliability and availability, demonstrating the robustness of our supply chain and the efficiency of our operational processes.
As we navigated the extraordinary impacts of the COVID-19 pandemic, supply chain constraints, and geopolitical tensions, we also observed a gradual return to normalcy. This marked a promising shift towards business as usual, and we're excited about what the future holds.
Pascal A/S: Pioneering Innovation, Elevating Quality, and Championing Customer Satisfaction in the Pro AV Industry
Embracing Change in Leadership
After the launch of our Blaze brand and the establishment of our subsidiary, Pascal Inc., Pascal A/S has undertaken a strategic reorganization to consolidate business functions under Pascal A/S and realign our vision.
In a significant development, Co-founder Lars Fenger has transitioned his role, paving the way for our new CEO, Gustaf Höskuldsson. Additionally, we are delighted to welcome Eyal Steinitz as the new Chairman of our board. These changes have brought forth a multitude of implications, including establishment of a new governance structure and a formulation of an innovative business strategy.
As a strategic move in our ongoing efforts to professionalize our organizations, we have made key appointments to strengthen our leadership team. Nikolaj Pihl has been appointed as the Vice President of Sales for Pascal, and George Balfour Tennet has taken on the role of Vice President of Sales for Blaze. In addition, we are pleased to welcome Rebecca Collard as the Head of People and Culture. Following the close of the fiscal year, Thorlak Vestergaard also joined us as our Chief Operating Officer, bringing valuable expertise and leadership to our team.
Empowering Our Team
At Pascal A/S, we take great pride in welcoming a remarkable 40% increase in new team members to our Pascal family over the past year. Our unwavering dedication to providing a nurturing and growth-oriented work environment is exemplified by our outstanding employee retention rate, which stands at above 95%. Throughout the year, we significantly expanded our in-house development capabilities, emphasizing simplicity, logical structures, agility, and data-driven decision-making, fostering a culture of continuous growth and learning.
Putting Customers First
Our unyielding commitment to customer satisfaction has borne fruit with the addition of 16 new OEM customers during the fiscal year. At Pascal, we prioritize an "outside-in" mindset, looking at our business through the customer's perspective. This approach empowers our partners to achieve their aspirations.
Going Global
In the fiscal year, we took substantial steps to expand our global presence into the APAC and Americas regions, enhancing our operational scope and capabilities. We've established a robust supply chain, forming three distinct partners to ensure swift, precision-driven deliveries worldwide. Our dedication to expanding horizons remains steadfast as we actively seek partnerships with distributors and manufacturers to explore new markets.
Financial Excellence
Financially, we've surpassed our targets. Pascal Group achieved revenues of DKK 184 million and a Cash EBITDA of DKK 33 million in FY22/23, underscoring our unwavering financial strength and stability. Our cashflow from operating activities contributed DKK 32 million. The majority of our revenue is in USD. This USD currency revenue exposure is mitigated by a significant portion of our expenditure being in the same currency. Furthermore, we are pleased to report that there were no losses from bad debt during the year. The fiscal year has resulted in a DKK 3 million impairment write-down, covering components and speaker products that were decided to be discontinued as they fall outside our strategic focus for the coming years.






Celebrating Excellence
Our dedication to excellence has been recognized with awards from independent organizations, underscoring the commitment of our team and the exceptional quality of our products and services.

Leading in ESG Practices
As a company, we remain steadfast in our commitment to becoming a leader in ESG (Environmental, Social, and Governance) practices within the Pro-Audio industry. We prioritize energy efficiency in our modules, contributing to power savings with every module sold, and maintain stringent product standards to reduce waste. We actively cooperate with value chain partners to minimize the supply chain's carbon footprint. Employee satisfaction is a core value, consistently achieving exceptionally high scores in employee engagement surveys. We are dedicated to being trailblazers in ESG practices and actively invest in enhancing our ESG standards.
The Future is Bright
As we embark on FY23/24, we are filled with excitement and optimism for the journey ahead. Our strategic focus remains centred on positioning Pascal Group for industry growth and success:
Enhancing Pascal's ODM Business: We are committed to strengthening our ODM business by introducing new amplification platforms and solutions, building upon the successful launch of the IP series. These new amplifiers cater to a wide range of sectors, reducing lead times and simplifying business interactions.
Blaze's Focus on Commercial Installations: We have dedicated Blaze to commercial installations, delivering amplification, control systems, and speakers tailored for these venues. We've expanded our presence in North America, offering specialized speakers for commercial installations and building a robust distribution-based sales network.
Financial targets for FY23/24
In the upcoming fiscal year, FY23/24, we have set ambitious yet achievable financial targets. Our primary goal is to achieve revenues of at least DKK 250 million, combined with a EBITDA before capitalizations of DKK 40 million. These targets reflect our unwavering commitment to profitable growth, strategic investments in future profitability, and the maintenance of a steady growth trajectory. We are determined to meet and exceed these milestones, further strengthening our position in the market and ensuring the long-term success of our organization.
Pascal A/S is thrilled about the future and remains wholeheartedly dedicated to serving our customers with unwavering commitment to innovation and excellence.