Ambitious strategy secures strong growth for Priess A/S

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An ambitious plan for growth and production scaling has secured Priess A/S a significant increase in both turnover and profit for 2022. The company is based in Vinderup, DK, and supplies plug-and-play technical cabins and stations to the utilities sector. A results-oriented, get-it-done approach has yielded success and put the company on an aggressive growth journey.

For Priess A/S, it has been an established goal for the company to crank up its capacity as a key supplier for the green transition within the utilities sector. Its factory facilities have been redesigned and production has been optimised. In other words, a solid foundation has been laid for its ambitious growth plan and this approach can now be seen reflected in the previous year’s results.

Turnover increased to DKK 263 million in 2022, a rise of 54 percent compared with the previous year. Profit increased to DKK 18 million before tax compared to DKK 0.6 million in 2021.

“We are proud to have presided over such huge growth in our turnover while also boosting our bottom line, despite huge investments and not least rising component prices,” says Thomas Rohde, CEO of Priess A/S, who goes on to add:
“We’ve gotten very good at managing complexity and costings, and at reacting to loss-making business. These results stem directly from the strategy we adopted in 2022 and which we will be holding firm to. This year, we anticipate growth of 50 percent which could pave the way for a turnover of DKK 400 million.”

Progress in all areas

For Priess A/S, 2022 was a year that brought progress within all business areas – district heating, digital infrastructure, energy supply and water/industry. In particular, the company’s plug-and-play technical cabins, which are installed directly on site, can help make the roll-out of sustainable infrastructure more efficient.

Strong demand for these cabins from the utilities sector combined with significant investments have paved the way for this considerable growth. Also part of the mix is a successful strategy process involving the introduction of a get-it-done approach, lean philosophy and a more efficient production flow at the factory in Vinderup, allowing Priess to produce 2,000 substations a year at present.

The number of employees rose in 2022 by 60 to make a total of 220. Thomas Rohde notes that the company has succeeded in integrating many new employees while also retaining existing staff at the same time. A good working environment is crucial to us, says the CEO, who considers employee satisfaction a prerequisite to attaining the positive figures presented in spite of challenges relating to component prices and the supply chain.

Expansion is still in full swing

Growth ambitions remain firm at Priess A/S, and this extends to 2023 as well. Over the course of the spring, the company opened a new 2,000 m2 factory in Herning where they produce technical cabins for district heating and digital infrastructure.

“A huge thank you to everyone involved in the project. After just three months, the factory was fully up and running and it is already contributing towards our growth targets for the current year,” says Thomas Rohde.

Management is also planning a 2,700 mextension in Vinderup. This paves the way for a capacity expansion in 2024 of up to 50 percent, meaning 3,000 substations a year, which will be used in new solar farms, among other places.

For Priess, it is important to keep production complexity at a low level so that the company can scale continuously and keep up with demand at all times. This philosophy means that business areas can be spun off into a separate entity once they reach a certain size, as has been the case with the new location in Herning, for example.

“We are investing heavily in capacity expansion in order to meet customer demand. We are also prepared to follow customers over borders by investing in foreign production facilities when necessary,” concludes Thomas Rohde, CEO of Priess A/S.

Further information
Thomas E. Rohde,
CEO, Priess A/S
Phone: +45 2476 1516
tro@priess.dk