Record Year for Mermaid Maritime Vietnam
Over the past year, Erria has successfully implemented extensive efficiency improvements at Erria Container Services in Vietnam, reducing the workforce from 166 to 85 employees.
The company has also cut costs and increased the profitability of its overall international operations, including its subsidiary, Mermaid Maritime Vietnam, which is expected to achieve its best earnings year ever in 2024.
“Our larger Vietnamese contracts have been initiated earlier than anticipated, and I personally spent a year in Vietnam streamlining our container business. Overall, we are solidifying our already strong position in the rapidly growing Vietnamese economy, where having boots on the ground, local anchoring, and cultural understanding are critical. While our total revenue in Erria Container Services has decreased slightly, our organization has become significantly more efficient, and our efforts are yielding positive results. Going forward, I will spend one week each month in Vietnam to maintain our strong momentum and further develop our Vietnamese operations,” says Henrik N. Andersen. Together with the entire Erria team, he remains vigilant in proactively addressing the risk factors currently most relevant to Erria’s customers.
“The ‘Trump effect,’ the threat of a trade war, and the continued attacks on shipping traffic off Yemen are, of course, factors that can have an impact, but they will not shake our now significantly diversified revenue streams. Erria thrives on providing reliable and efficient problem-solving, especially when challenges arise. We understand our customers’ value chains and concerns. Every time an international crisis occurs, it’s an opportunity to reach out to our customers, and every time we and our customers face challenges together, we emerge on the other side with even stronger mutual trust, insight, and efficiency,” Andersen explains.
To meet customer demands and reduce risks associated with legislation and societal expectations, Erria has worked throughout 2024 to integrate sustainability and environmental initiatives into its strategy. The company plans to publish its first ESG report soon.
Upgraded Expectations for 2024:
- Revenue: DKK 185–195 million (unchanged)
- EBITDA: DKK 9.5–10.5 million (previously DKK 7–9 million)
- EBIT: DKK 8.5–9.5 million (previously DKK 6–8 million)
Erria A/S will release its annual report on March 10, 2025.
