Company type
Limited Corporation
Established
1960
Size
Large
Employees
365
Revenue
1,037 MDKK
Gross profit
390 MDKK
Operating Profit (EBIT)
66 MDKK
Profit for the Year
88 MDKK
Equity
490 MDKK
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Rank Profit for the Year

Rank in industry
2/19
"Top 35%"
Rank in Denmark
1,342/301,365
"Top 10%"

Top management Top 3

Board Top 3

Bjarne Moltke Hansen 12Chairman of board
Marco Maria Bianconi 1Vice chairman
Carsten Ottsen 1Boardmember

Legal owners Top 3

100%Aalborg Portland Holding A/S

Rights certificate

Selskabet tegnes på en af følgende måder: i) bestyrelsens formand i forening med næstformanden, ii) bestyrelsens formand i forening med den administrerende direktør, iii) bestyrelsens formand i forening med en direktør, iv) bestyrelsens formand i forening med et andet medlem af bestyrelsen, v) bestyrelsens næstformand i foreningen med den administrerende direktør, vi) bestyrelsens næstformand i forening med en direktør, vii) bestyrelsens næstformand i forening med et andet medlem af bestyrelsen, viii) et bestyrelsesmedlem i forening med den administrerende direktør, ix) den administrerende direktør i forening med en anden direktør, x) den samlede bestyrelse.

Company information based on CVR

NameUnicon A/S
Alternate names4 K A/S, 4 K Beton A/S, A/S Københavns Betonfabrik, Aarhus Betonvarefabrik A/S, Aktieselskabet Es-Færdigbeton, Betonco A/S, Betonvarefabrikken Sjælland A/S, De Danske Betonfabrikker A/S, Fabriksbeton A/S, Fabriksbeton Sønderborg A/S, Fabriksbeton Tønder A/S, Flexton A/S, Færdigbeton Brovst A/S, Færdigbeton Frederikshavn A/S, Færdigbeton Hobro A/S, Færdigbeton Horsens A/S, Færdigbeton Nørresundby A/S, Færdigbeton Odense A/S, Færdigbeton Randers A/S, Færdigbeton Sønderborg A/S, Færdigbeton Tørring A/S, Færdigbeton Vejle A/S, Færdigbeton Viborg A/S, Færdigbeton, Aalborg A/S, Holbæk Færdigbeton A/S, Hørsholm Beton A/S, Internationalt Beton Compagni A/S, Jysk Pumpe Beton A/S, K K K K A/S, Kalundborg Færdigbeton A/S, Kaløvig Mørtelværk & Betonvarefabrik A/S, Kh Beton A/S, Kudsk & Dahl Rmc A/S, Københavns Kul og Koks Kompagni A/S, Køge Beton A/S, Køge Betonvarefabrik A/S, L.C. Betonelementer A/S, Nordsjællands Færdigbeton A/S, Nr. Nebel Beton A/S, Odense Beton- og Mørtelværker A/S, Readymix Beton A/S, Ringsted Beton A/S, Ringsted Betonvarefabrik A/S, Rmc Betonvarer A/S, Ro-Beton A/S, Roskilde Beton A/S, Roskilde Betonvarefabrik A/S, Sorø Beton A/S, Sorø Betonvarefabrik A/S, Sorø Færdigbeton A/S, Ulve Beton af 1982 A/S, Unicon Beton A/S, Unicon Group A/S, Vejen Cementvarefabrik A/S, Vejle Betonværk af 1982 A/S, Vestsjællands Betonværk A/S, Vestsjællands Betonværk Korsør A/S, Vestsjællands Betonværk Slagelse A/S, Vestsjællands Betonværk Sorø A/S, Vs-Beton A/S, Fk Byggematerialer A/S, Unicon A/S Show more
CVR16064939
AddressIslands Brygge 43, 2300 København S
IndustryManufacture ready-mixed concrete [236300]
Established20-12-1960 (59 yr)
Company typeLimited Corporation
Number of employees365 (Fin.Stmt)
Advertising protectionNo
AuditorKpmg P/S since 07-04-2016
Financial statement period01-01 to 31-12
Company capital150,000,000 DKK
100,000,000 DKK (23-12-1998 - 16-12-2001)
7,260,000 DKK (30-08-1987 - 22-12-1998)
Articles of assoc. last14-04-2015

Member of industries

Purpose

Selskabets formål er fabrikation af og handel med færdigblandet beton og betonvarer samt anden efter bestyrelsens skøn beslægtet virksomhed.

Financial Statement

 201920182017
Currency/unit000' DKK000' DKK000' DKK
Revenue
1,036,813
+2%
1,015,574
-2%
1,034,159
+3%
Gross Profit
390,273
-1%
393,188
-1%
398,754
+5%
Profit for the Year
88,078
-30%
126,565
+20%
105,256
+20%
Equity
489,700
+0%
489,068
+4%
468,190
+6%
Total Assets
897,665
+14%
788,260
+13%
698,410
-4%

Mangement review

Overall, in 2019 the Unicon Group experienced a small decline in revenue within ready-mixed concrete of 2% compared to 2018, but with large differences between markets in Denmark, Norway and Sweden. Compared with 2018, revenue and EBITDA expressed in DKK were down by DKK 41m and DKK 4m, respectively, due to the weakening of the Norwegian and Swedish krone.In 2019, the Unicon Group realised revenue of DKK 2,469m, 2% lower than in 2018. Operating profit (EBITDA) was DKK 295m against DKK 262m in 2018. EBITDA was positively influenced in the amount of DKK 59m by the implementation of IFRS 16 on leasing with effect from 2019. The operating profit was in line with expectations.The profit before tax for 2019 was DKK 139m against DKK 181m in 2018, a decrease of 23%. In 2018 results from the joint venture in Poland and sale of a joint venture in Norway impacted results positively.The return on capital employed (ROCE) decreased from 22% in 2018 to 15% in 2019. The shareholder’s equity at 31 December 2019 was DKK 588m, corresponding to an equity ratio of 39%.Similar to past years, the Unicon Group achieved a positive cash flow from operating activities at DKK 229m. After net investments of DKK 58m, the Group has a free cash flow of DKK 171m.DenmarkIn Denmark, Unicon is the market leader with 35 plants producing and supplying ready-mixed concrete to the whole country. Ready-mixed concrete is sold to both residential and business customers.In 2019, the market for ready-mixed concrete stabilised compared to the previous year, mainly as a result of lower mass of infrastructure projects, and increase in building activity in the residential sector. In 2019, the company has consolidated its position as market leader and supplied ready-mixed concrete for a variety of high-profile projects during the year, including Carlsberg City in Copenhagen, lighthouse in Aarhus, as well as a number of hospitals, data centres, and many more small and larger projects. Additionally, Unicon has been supplier to the Metro City Circle Line as well as the North extension, all being long-term construction projects in its final stages, which together comprised more than 600,000 m3 of ready-mixed concrete. Unicon is an active participant in the trade association Danish Concrete and contributes thereby to expose the knowledge of the many possibilities of using concrete. This effort strengthens the development of the industry into the future. Unicon is also engaged in sustainable development of cement and concrete production in Denmark. Unicon ordered the first hybrid diesel/battery RMC trucks to be delivered in 2020, another steep in the sustainable strategy for Unicon Denmark. Gravel activities, which are administered by the subsidiary Kudsk & Dahl A/S stabilised EBITDA compared to previous year.NorwayUnicon AS produces ready-mixed concrete at 24 plants and 4 mobile units and supplies the central and southern parts of Norway.The residential and non-residential market declined in 2019, while the infrastructure market continued to grow. Unicon supplied concrete to a number of very high-profile construction projects, e.g. the railway project Follobanen in Oslo, Power House in Trondheim and in Telemark and the spectacular underwater restaurant Under. In the mobile sector, Unicon has supplied to Nordøyvegen, FV17 Aldersundet and to a road project on E134 at Kongsberg.In 2019, special focus was on environment and sustainability, customer service and improved competitiveness. Unicon has several improvement projects with environmental focus within areas like product development, greener transportation and waste management. Unicon received its environmental certification according to ISO 14001 in 2013.The ready-mix plant in Drammen has been fully revamped during 2019. Unicon is an active member of Fabeko, the Norwegian ready-mixed concrete association, and is also involved in Byggutengrenser. Fabeko and Byggutengrenser work to increase the market share of ready-mixed concrete as a building material through fact-based information to politicians, builders, architects and people in general about the advantages and possibilities with ready-mixed concrete.SwedenAB Sydsten produces and sells ready-mixed concrete and aggregates (granite and gravel) to the southern part of Sweden. The company has 9 plants, 5 granite quarries, 2 gravel pits, trading business in precast concrete and a recycling business. In 2019, Sydsten maintains its market position in terms of volumes, revenue and earnings compared to 2018. Sales during 2019 were stable and high in all business streams, primarily due to some huge projects such as 4-track railway, New Hospital Malmö, ESS and furthermore a stable residential market. We also notice a higher activity in the infrastructure market where Sydsten during the year becomes the selected supplier of concrete and aggregates for two harbour projects in Ystad and Trelleborg. Sydsten has been successful in both keeping and developing the business with existing customers and finding new customers in the market for both concrete and aggregates. Our environmental efforts and actions towards a fossil free production such as four ready-mix trucks with electrical hybrid engine, bio-fuels in all concrete plants and continuing electrifying the production in our quarries has been an important factor to win new contracts in the market. Sydsten is also engaged in several social activities in the community such as Lund’s University of Technology, “Smart Math” in elementary school and every year Sydsten participates at the exhibition “Industrinatten” for high school students. Group exposuresBusiness risksThe company is sensitive to the conditions usually affecting sale of ready-mixed concrete. This exposure can be split into four main areas:• Private new construction• Multi-storey houses and multi-family houses• Non-residental construction• Public-sector construction and infrastructureThe Unicon Group’s focus of business is on the Scandinavian countries. Efforts are made to achieve a proper mix of variable and fixed costs to be able to counter temporary changes in demand. Currency exposureThe Group’s products are usually not sold to other countries, for which reason its currency exposure is limited mainly to balance sheet items which for individual subsidiaries are in local currency.Interest rate exposureIt is Group policy to have a proper mix of short-term and medium-term interest exposure. Long-term interest agreements are concluded seldom.Cash flow riskIt is Group policy always to be able to pay its debts, and periodic cash management and reporting therefore takes place on a systematic basis to ensure this. Credit risksThe Group’s credit risk primarily relates to trade receivables from sale to customers. The Group’s receivables are assessed on a current and individual basis and provisions are made currently if there is any doubt about a customer’s ability to pay. Basically, sale to customers with an estimated low ability to pay is made against prepayment or a bank guarantee. The maximum credit risk on trade receivables corresponds to the value at which they are included in the balance sheet. No individual customer poses any material risk to the Group.Environment and energyEnvironmental respect and energy consumption are focal issues for the entire Nordic ready-mixed concrete business area. A number of environmental projects are therefore currently under way, including one relating to the recycling of large volumes of water used in company processes. Concrete is an environment-friendly building material pre-dominantly produced from natural resources. Environmental impacts from Unicon’s concrete production are continuously being reduced, and Unicon has established an internal Environmental Management System based on ISO 14001 that has been implemented in the Group’s production plants. The system ensures ongoing improvements to environmental conditions at company plants.Events after the balance sheet dateNo events have occurred after the balance sheet date to this date which would influence the evaluation of this annual report.Other issuesIn Aalborg Portland Holding A/S’ consolidated financial statements for 2019, the Unicon group contributes with DKK 158m before tax and minority interests. Aalborg Portland Holding A/S’ consolidated financial statements are presented according to IFRS. The variances to the Group accounts of Unicon A/S for 2019, which is presented according to the Danish Financial Statements’ Act, are:Earnings before tax (EBT) in the Unicon consolidated financial statements DKK 139mAmortisation of goodwill, not deductible, cf. IFRS DKK 19mContribution (EBT) to the Aalborg Portland Holding Group DKK 158mThe total variance between Unicon A/S’s financial statements for 2019 and the contribution to Aalborg Portland Holding A/S’ consolidated financial statements for 2019 amounts to DKK 19m before tax.Expectations to 2020Sales in 2020 are generally expected to be in line with 2019. In Denmark, sales are expected to increase slightly compared to 2019.In Norway, sales are expected to increase compared to 2019, whereas sales in Sweden are expected to be slightly below 2019.Efforts will still be focused on maintaining a strong market position and - based on the business units' close customer relations - constantly keep focus on customer needs and product development. Overall, earnings for 2020 are expected to be in line with 2019.
17-04-2020

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