COPENHAGEN – GPV reported revenue of DKK5.9 billion ($845.3 million) in 2022, exceeding expectations for the year and setting a new revenue record for the company.

“We are pleased with our positive performance throughout 2022. We have succeeded in delivering growth over and above our expectations in a continuously challenging year which made it difficult to plan efficient production. Our Q4 revenue was three times higher than in 2021, primarily from the combination with Enics after the deal was closed on 3 October 2022. Another reason for the Q4 revenue increase was much stronger demand from our customers combined with higher prices of components and materials,” said GPV CEO Bo Lybæk.

The company expects growth to continue in 2023, with projected revenue of DKK8.4 billion to DKK8.8 billion ($1.2 billion to $1.26 billion) for the year.

“It’s very important for us to be a trusted partner to both our customers and suppliers. Our customers gave us at our Let’s Talk event a strong signal that they expect their business to continue strong in 2023. At the same time, we stay in close contact with suppliers, who update us regarding materials and lead times. The challenges caused by material shortages and logistics diminished towards the end of 2022 and, we expect this situation to further improve throughout 2023. However, it does not mean that the global supply chain challenges are resolved. These things together make us look at 2023 with cautious optimism,” Lybæk said.

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