MacArtney Group's Strong Market Position Ensures Profitable Growth
MacArtney, a global underwater technology leader, achieves a record turnover in 2022, confirming its strong market position with growth in top and bottom line figures. The successful financial year is supported by a global presence and a product offering matching buoyant markets.
A remarkable revenue growth of 29% from the previous financial year marks the success of MacArtney's commitment and charted course, rewarding the Group with the highest turnover level in its history. The revenue has increased to 788 mDKK, resulting in an improved net profit of 37,8 mDKK compared to 31,3 mDKK in 2021.
The MacArtney Group builds on its robust and scalable business model enabling high agility while still focusing on its core business. An efficient practice demonstrating MacArtney as a market leader in underwater technology solutions. Group CEO Niels Peter Christiansen states:
"The decision to invest in the business during the COVID slowdown in 2021 paid off in 2022, where a higher degree of availability of our connectivity products helped the growth. Also, investing in business development, portfolio tuning and highly skilled staff continues to notably strengthen ties within our Commercial Marine, Ocean Science, Naval and Renewable Energy markets."
Strong market foothold
Headquartered in Denmark, the Group has locations in 20 countries, supporting local customers with knowledge, solutions and high-level workshop capabilities. In 2022, MacArtney added Sweden as a new entity, backing the extensive marine and offshore activities along Sweden's coastline. Overall, the year echoes high activity levels and positive development in all international operations, growing MacArtney's market foothold globally.
"MacArtney is conscious of building close, long-term customer relations. Our purpose is to be accessible worldwide and around the clock. We embrace the post-pandemic opportunity for in-person meetings and exhibitions and will continue the high attendance and meeting frequency in 2023," says Niels Peter Christiansen, and points out another vital factor; the consistent high flexibility and adaptability shown by all MacArtney employees in a period with strong market demand and several bottlenecks in the value chain.
A year of global and local projects
The aim and capacity to be at the forefront of underwater technology development, and the continued strengthening of market relations, leads to substantial project contributions internationally.
"We are reliant on our ability to develop and deliver innovative and reliable underwater technology to our customers," Niels Peter Christiansen comments on the year's result.
He highlights that the NEXUS 8 telemetry system, launched at the beginning of the fiscal year, has contributed significantly to the order book.
Within its core business, MacArtney's well-renowned connectivity solutions support critical infrastructures with global reach. From the world's longest immersed tunnel, the Femern Belt tunnel, linking Denmark and Germany - to the P-ONE (Pacific Ocean Neutrino Experiment), an Astrophysics Neutrino Telescope that will be installed at 2.500m water depth to detect the smallest of all elementary particles. Neutrinos are emitting from the sun, supernovas, and blazers. Deeper knowledge about Neutrinos plays a pivotal role in understanding how our universe was formed.
The year also closed with completing the hitherto largest system in the company's more than 40 years of track record - a complete 500kN all-electric eLARSTM system, including winch and A-frame.
Adding to a strong foundation
MacArtney is starting the new year successfully, with a record order book comprising strong future projects forming the basis for continued profitable growth.
Part of this growth, MacArtney expects from its new, focused division, MacArtney Offshore Wind Solutions, with a more direct approach to the offshore wind industry and affiliated sectors. Major wind turbine manufacturers and renewable energy players have already placed larger orders. One of the projects in progress is a cable handling system for Energinet's transnational Viking Link - a 1400 MW high voltage electricity link between the British and Danish power transmission systems.