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The NDI Group has delivered its best financial result in the 50-year history of the company with a profit of 11 million Euro after tax.
Last year, the NDI Group turned a deficit into profit with a financial result of 5 million euros after taxes, and the positive development has continued in the financial year of 2020/2021. Here, the profit increased to 11 million Euro – the best result in the company's history.
- We are delighted with the result that is the best we have had so far. We see it as a confirmation that we are well on our way. I want to express my deepest gratitude to our highly engaged employees on behalf of the family, board, and management. They have worked very hard in a demanding year and played a crucial role in succeeding with this result, says the CEO at the NDI Group, René Kristensen.
Among the factors that have contributed to the good result, René Kristensen, among others, mention the strategic focus on cost and optimization and the fact that the NDI Group was able to deliver in a troubled market:
- Following our 2024-strategy, we have had a strong focus on optimizing our business and increasing our profitability. Even though we had many challenges to handle due to the consequences that the corona had on global supply chains, we have been able to deliver in the market with struggling with shortages, he says and continues:
- We look into a year in which we risk shortage of goods and more expensive transport, so we take nothing for granted. We do not expect that we will have a similar result next year. We will also make more investments, among others, in new, larger tire warehouses in Sweden and Norway, as well as expand our rim factory in Brørup. It will affect our profits in the short run but help ensure more profitable operations and increase our capacity and overall profitability in the long run.
HR in focus
Apart from the investments in physical buildings and production equipment, the NDI Group plans to also invest more resources in HR, according to René Kristensen:
- Apart from this, we will continue to invest in our employees and become even more attractive as a workplace, so we can continue to attract and retain the right competencies. We believe this can help strengthen our company in a challenging job market with tough competition for the competencies, René Kristensen says.