VEJLE, DENMARK – GPV reported revenue of DKK 10.4 billion ($1.5 billion) in 2023, a 76% increase from 2022's revenue.

“2023 is the first full financial year of consolidating the Swiss-headquartered Enics, and this is the main reason why we increased our revenue from DKK 5.9 billion in 2022 to DKK 10.4 billion in 2023," said CEO Bo Lybæk. "Furthermore, higher material prices affected revenue positively and margins negatively. Despite the positive results, we saw a gradual decline in activity levels in the global electronics industry through second half of 2023. This trend was largely due to a normalisation, or market rebalancing, after some busy and challenging years in the supply chain and in logistics due to the impact of the coronavirus pandemic.

"Nevertheless, thanks to effective control and high-capacity utilisation at our factories, we managed to maximise deliveries to customers. Our growth in the period outpaced demand, partly due to the fact that we began 2023 with an overdue order backlog caused by the shortage of components and partly because of general high demand from customers. With the exception of one factory, we have reduced this backlog across all our factories.

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