VEJLE, DENMARK — GPV announced revenues of DKK 1.2 billion (US $163 million)for the third quarter, the company's highest ever revenue for a single quarter and a 45% increase from the third quarter of 2021.

For the first nine months of the year, GPV has seen revenues of DKK 3.3 billion ($450 million), compared to DKK 2.3 billion ($313 million) in the same period last year.

“We are satisfied about our positive performance throughout the year. First and foremost, we are pleased that demand from many of our customers has been growing, which is the main reason for the increase in revenue. Part of the improvement is also due to significant price increases for components and materials. Still, we have managed to strengthen our partnerships with existing customers while also attracting new ones,” says GPV’s CEO Bo Lybæk.

After the recent merger of GPV with Enics, the company raised its revenue estimates for the fourth quarter from DKK 3.9-4.1 billion ($531-559 million) to DKK 5.2-5.6 billion ($708-763 million).