THORNICO posts historical earnings record for 2020

Despite the global COVID-19 pandemic and significant uncertainties across industries and markets, THORNICO has achieved the highest earnings in the history of the conglomerate. This year’s EBT at DKK 706 million, corresponds to a 37% growth compared to 2019.

Christian Nicholas Stadil, CEO and owner, THORNICO:

”There is no doubt that the past year has been really tough for several of our companies due to COVID-19 and therefore, we are very satisfied with the general development in 2020.”

”As we announced at last year’s financial statement, we did not believe it was realistic to reach the same record highs from 2019 in 2020 due to COVID-19. However, that scepticism has been proved wrong, and we are incredibly proud to be able to realise the highest earnings in the history of the conglomerate.”

”The structure of our conglomerate with companies and activities within a large number of industries, products and business areas has to a large extent proved its worth in 2020, as some companies have had difficulties meeting their objectives due to COVID-19.”

Thor Stadil, Chairman of the Board, THORNICO:

”A huge thank you to all our CEOs and teams who have not only worked hard through a different and difficult year, but who have also taken THORNICO to new earning heights.”

”Across the conglomerate, we have had a great start in 2021, and at this moment, it looks like it will be a year where we stay on a par with an upward tendency earnings wise in 2020.”

Watch our video announcement presented by our CEO and owner, Christian Stadil.