Annual Accounts 2021/22

Sjølund is succesfull with the turnaround

Sjølund A/S near Kolding is back in Danish hands and once again delivering profits after initiating a successful turnaround. The company is one of the largest and leading in the world within aluminum and steel section bending for e.g. the wind turbine industry, the transport sector, within construction and industry.

Sjølund A/S from Kolding, is a company that solves complicated tasks with bending and processing steel and aluminum profiles for special tasks. The company is again 100 percent back in Danish hands with Søren Ravn, who owned the company from 2007 to 2018. He became owner of the company again last summer after the company was owned by a German capital fund for four years. In the reacquisition of Sjølund A/S, a reconstruction plan was implemented together with the bank, as it was necessary to close down a loss-making Estonian subsidiary, which resulted in a loss of DKK 57 million. In this connection, the bank forgave a debt of DKK 20 million.

Profit and back to the core business
The new accounts of 2021/22 testify that the reconstruction is going well, as Sjølund A/S has regained its position as a strong niche company with a goal of controlled and profitable growth. The profit after tax in the new annual accounts was just over DKK 13 millio, and a positive equity of almost DKK 15 million. Søren Ravn is both owner and chairman of the board of Sjølund A/S. however, the day-to-day business and the company’s strategic orientations are managed by CEO Zoran Aleksic. “We concentrate a lot on the company’s core competences within profile bending. This is exactly what Sjølund A/S has been really good at for generations. It is the direct path to success, which for us is about being a stable and financially strong company,” says Søren Ravn.

Promising order books and confidence
In Sjølund A/S, which was founded in 1936, the day-to-day management and the employees are not done improving the everyday life at Sjølund A/S, but they have come a long way. “We deliver a profit, the order books look promising, and the trust from customers and business partners is great. Therefore, we also expect a plus in the 2022/23 annual accounts,” explains Zoran Aleksic. 2022 has offered challenges in connection with the initiation of the turnaround and difficult market conditions. For example, fierce competition in the wind turbine industry means that there is a small profit margin in this market. In this connection, Sjølund A/S has also cleaned up the product range so that they keep up their competitiveness.

Great effort from many sides
“We are full of confidence regarding the future. Our approximately 120 employees in both Denmark and China have made a fantastic effort to get Sjølund A/S back in top shape, and we experience great support from our customers and business partners,” says Zoran Aleksic. Currently, Sjølund A/S’s Chinese subsidiary has moved into a brand new, 5,000 square meter building, so that capacity can keep up with demand.

Additional information to:
Zoran Aleksic, CEO of Sjølund A/S, tel.: +45 76 99 17 77, email: zoran.aleksic@sjoelund.dk eller Søren Ravn, owner of Sjølund A/S, tel.: +45 76 99 17 77, email: sr@sjoelund.com
See more about the company: www.sjoelund.com
Press photo for free use: Sjølund A/S near Kolding is back in Danish hands and once again delivering profits after initiating a successful turnaround.
From left are CEO Zoran Aleksic and owner Søren Ravn.