Turnover record again: Strong Tscherning results during the last financial year

The Tscherning Group once again present an excellent annual report, where the company has set a record for both revenue and profit for the year.


STRONG SISTER COMPANIES CREATE RECORD TURNOVER
Tscherning boards have now approved the latest annual reports for the staggered financial year from May 2022 to April 2023, and the company once again sets records with the most successful result in the company's history. Net revenue for the Tscherning Group has increased by as much as 26.4%, from DKK 666.1 to DKK 841.9 million, and the Group's profit before tax is DKK 38.4 million, which is a remarkable growth of almost 70% compared to last financial year.

The main company in the Group, Tscherning A/S, has played a decisive role for the excellent result with a solid revenue increase of 21.7%, from DKK 490.0 to DKK 596.6 million and a profit before tax of DKK 22.3 million. But the sister company Gravmand A/S has also contributed to the Group's excellent results. The small construction company in Birkerød has in just one year managed to turn a deficit into a positive result before tax on DKK 12.7 million.

INCREASED FOCUS ON PLANT AND CONSTRUCTION PROJECTS
"The Tscherning Group's continued success is a proof that we have the right skills, both in terms of management and at employee level," says managing director Søren Tscherning and states that both he and the boards are extremely satisfied with the result.

"The positive development underlines our position as a significant player in the industry. Among other things, we have seen strong growth in our plant and construction department, where we have won a number of important cases. Our focus has earlier been primarily on demolition, but today we are a significant player on the market for plant and construction projects.”

A SUSTAINABLE COMPETITIVE ADVANTAGE
Today, it is a requirement that all construction companies have a strong focus on circular economy. The client often prioritizes partners who have experience in working sustainably.

"We must continuously adapt the changing market, and we will go all-in on the circular economy, when we have the opportunity," says Søren Tscherning. "A good example is our own conversion project in Hedehusene, where we reuse everything from ceiling panels, bricks, steel profiles, recycled wood and concrete. Thereby we gain good experience and are at the forefront of development.”

TSCHERNING STANDS SOLIDLY FOR THE FUTURE
However, factors such as the municipalities' construction ceiling and the ongoing conflict in Ukraine are helping to create uncertainty in the industry. At the same time we see increasing demands for digitalisation, certifications and sustainability. Despite this, Søren Tscherning maintains an optimistic approach to the future.

"We expect our positive development to continue, while we keep an eye on both market conditions, interest and inflation as well as the high material prices. At the same time, we already have many interesting projects in the order book, and we must, among other things, help close down the many mink farms around Denmark. So the Tscherning Group is still standing strong - both in terms of financial strength, the customer base and the order book," concludes Søren Tscherning.