RIVAL sets a record annual result
RIVAL grew in 2021 and finished the year by setting a new annual gross result and bottom line result. The board and the management agree that the long-term agreements with the right customers, the strong employee team and the successful implementation of the two-sided production strategy have led to the success.
RIVAL is doing well. With a gross profit of DKK 17.8 million in 2021, the company has grown significantly compared to the previous year. The bottom line result has grown as well, from 3 million in 2020 to 6.7 million in 2021.
Success with strategy in a challenging world
“We have found our special place in the market, in which we look for long-term partnerships with our customers,” CEO Henrik Holvad says. “It is our experience that our customers share this interest and see the mutual value creation the long-term partnerships provide. At the same time, we have a highly competent and motivated staff. Our employees work hard to ensure that we have the right product mix for the right machines all the time, so that we can keep the production going 24/7,” he says.
“Like many others, we are challenged by the consequences of both Covid-19 and the war in Ukraine. At the moment, it’s difficult to live up to the delivery time we have set as a goal and promised our customers. Of course, we present this openly to our customers, who think we have a reasonable delivery performance taken the conditions in the world right now into account.”
2022 is promising
Looking into 2022, RIVAL has a nice order book. The ambition for the year is a further 10% gross turnover growth with the same bottom line. “We have the preconditions for succeeding in 2022 and have many exciting new orders in the pipeline,” Henrik Holvad says. “We are aware of the challenges that external factors may cause, however in this matter too, our strong partnerships both up and down the value chain play a crucial, positive role,” he says.
