Annual report 2018/19
CVR 14 24 89 94
ProInvent A/S has had a very busy 2019 performing 58 customer projects as a mix of large-scale epoch-making projects, medium scale projects and minor projects. Leading production companies have chosen ProInvent to be their product- and technology development partner, and we know that our long-time customer relationships must be seen in the light of the fact that we year after year add good benefits to our customers, we always accomplish and we deliver at competitive prices.
2019 was the year ProInvent became an One-stop-shop in Integrated Product Development and Manufacturing Technology Equipment, specialized in supporting innovation from ideation to development of manufacturing technology.
The new Integrated Product Development department already counts 10 talented engineers, collaborating close with rest of the experienced ProInvent team.
Important projects with the purpose of being fast to market with innovative products at uniform quality, a good business earning and increased competitiveness and productivity are currently being implemented for Leo Pharma, Novo Nordisk, Bavarian Nordic, Ferring Pharmaceuticals, Radiometer Medical, Widex, Chr. Hansen, University of Copenhagen, Novozymes, Coloplast Humlebæk, Coloplast Tatabanya, Natus, GN Resound, Kopenhagen Fur, Pressalit, Umicore Frederikssund, Umicore Tianjin and Haldor Topsøe Houston.
Development in finances and comparative figures
ProInvent’s activity level has grown nearly 50% in 2018/19
See all comparative figures below for current year, two years back and budget estimates.
|Profit before growth costs||Growth||1.539||1.667||578|
|Growth ratio, employees*||50%||34%||16%||5%|
Equity ratio = Equity/Total assets)/100.
Current ratio = Short assets/short liabilities)/100.
Growth ratio, employees = employee number current year/employee number year before.
Assessment of the results
Management considers the revenue, the growth in activity, the current ratio and the equity highly satisfactory.
Profit before growth costs is 1.539 DKK, and as internal calculations show growth cost at 1.400 DKK current year profit is 139 DKK. In the wake of a high growth in 2018/19 the Management considers the earning satisfactory.
Total assets have almost doubled compared to the previous year due to prepayments from costumers. This gives an equity ratio of 22%. On this basis, Management considers that the equity ratio is satisfactory.
The expected development in activities and earnings
Through many years ProInvent has worked targeted to streamline its project implementation which has created a huge competitive advantage for the company and continuously leads to new exiting projects. Therefore, order intake is satisfactory.
ProInvent is geared to projects in the GMP- and GAMP environment, and this has resulted in a higher project portfolio from the pharmaceutical,- and medico/device industries, and this means that we continually make ourselves acquainted with each single customer’s QMS structure and perform the necessary documentation which provides the basis for easy-going performance of qualification and validation.
ProInvent has a really talented team, now counting 55 employees plus freelancers. Based on a really good order book and continued order intake management is planning further controlled growth and expects that the new financial year will achieve a higher activity level too, and better operational earnings.
February 27th 2020
Leif Dalum, CEO