VMS Group earns record profits like never before
VMS Group achieves a new record profit of DKK 32 million, with prospects pointing to an even stronger 2024, indicating a clear growth trajectory.
For the second consecutive year, VMS Group A/S in Frederikshavn sets a financial record with a profit after tax of DKK 32 million compared to DKK 20 million the previous year.
“We have worked tirelessly to be the preferred service provider for some of the very large drilling companies based in the USA. It’s an effort that has paid off, but in a competitive market, we must continue to perform for every task we solve,” says Kim Bengtsen, CEO of VMS Group.
The company, which has 22 years of experience as a supplier to the shipping and offshore industries, attributes the new record result to a combination of market growth and a stable and secure delivery of high-quality services, opening up new markets, including in the USA and the Middle East.
Turbocharging growth
In September 2022, the company underwent a change in management, appointing Kim Bengtsen as CEO and Kristian Kaasing Larsen as executive vice president.
Together, the management duo has put turbo on the company’s growth strategy, which is also expected to result in continued increased activity and a new profit at the level of the 2023 result in 2024, the company writes.
The growth is also reflected organizationally, where VMS Group grew from 193 to 220 employees last year, and including the four foreign subsidiaries, the company now counts 335 employees.
“VMS Group is deeply dependent on the knowledge and skills of our employees if we are also to continue to meet the high demands from customers and our own goal of delivering high-quality services,” says Kim Bengtsen.
“We will continue to invest in the well-being and skills of our employees, both through courses and further education, but also by contributing to the continued supply chain and by taking on apprentices to train new labor.”
This year’s profit also means that VMS Group has increased its equity by DKK 23 million to DKK 84 million.
VMS Group A/S
- VMS Group A/S was created in 2017 as a merger of Vestergaard Marine Service, DT-Interlink, and VMS Technology.
- VMS Group covers a wide range of competencies, sales, and service offerings to the maritime industry and offshore sector.
- The company is headquartered in Frederikshavn, with subsidiaries in Brazil, Namibia, the USA, and Saudi Arabia, and globally employs 335 people, of whom 220 are in Frederikshavn.
- As of September 1, 2022, Kim Bengtsen joined as CEO and Kristian Kaasing Larsen as executive vice president. Source: VMS Group
This article is shared by courtesy of VMS Group www.vms.dk
