RIVAL ended 2020 with the highest turnover in the company’s history. The bottom line follows as well as a strengthened solvency ratio.
The revenue has increased with more than DKK 10 million in 2020 compared to 2019, and the result has increased with almost 1 million to DKK 3,8 million before taxes. “We have a healthy business, and in the recent years we have continuously increased the equity, and our solvency ratio has improved significantly,” CEO and owner Henrik Holvad says.
The right product mix
The result for 2020 proofs that RIVAL has succeeded in implementing the right product mix and in optimizing the production with increased automation. Today, the machines run 24 hours a day.
“We have got the contract work on serial productions to important international customers rolling, which means that we can utilise our machines more optimally. We are constantly working to improve and refine the production in collaboration with our customers and skilled people in the production,” co-owner and sales director Christian Aarup says. “At the same time, we still maintain and develop our collaboration with Danish industrial customers in our production of critical and costly one-off components. Overall, it’s a really good mix, which fits in well with our wide range of skills and machines in the production.”
Humble and proud
RIVAL’s management is both humble and proud of the ongoing positive development at the company. “It is fantastic to experience that our customers really want to do business with us – even in these corona times,” Henrik Holvad says. “In 2020, we continuously received positive feedback from our customers, and they value our collaboration highly.”
A satisfied board
RIVAL’s board members also express great satisfaction with the development at RIVAL and the very positive results. “A lot of it starts with the culture and the really good employee care. Everyone takes on responsibility and thinks “we” before “I”,” board member Mads Peter Lübeck says and continues: “The accounts say it all. It looks very well for the continuing positive development of RIVAL.”
The good pace continues
At RIVAL, there are high expectations for 2021. “We already have a really decent order book, which promises well for the whole year of 2021,” Henrik Holvad says. “Now, we will continue to further develop our solid partnerships with our customers, which form the basis for all of us to succeed. We know, it calls for hard work every day from everybody here at RIVAL. That is why our strong community and teamwork are all-important.”