Terma delivers record financial results and announces new growth strategy

Denmark's largest defense company continues its impressive growth journey with the latest financial statements. Revenue reaches DKK 2.6 billion. This is a growth of 17% compared to last year, while profit before tax ends at DKK 228 million - an increase of DKK 57 million compared to last year.

This means that Terma's revenue has increased by 45% in 5 years, and profit before tax has more than doubled in the same period.

"I am very proud of the great result that Terma's more than 1700 employees have delivered. Terma has gone from being a supplier of partial solutions and components to a unique platform that can take a leading role and deliver complete solutions - both to the Danish defense and other allied customers. Thus, Terma is now also much stronger and ready to take on the important task of strengthening Denmark and Europe's security," says Jes Munk Hansen, CEO of Terma.

New growth strategy: Revenue to double in three years

Along with the financial statements, Terma also launches a new and very ambitious growth strategy. The goal is to double Terma's turnover over three years. This will be achieved both through organic growth, but acquisitions in particular will be the way forward:

"The security situation in Europe requires a strong Danish defense industry. Terma is at the forefront of this, and there is a need for us to expand our capabilities. We have concrete plans for significant organic growth in the coming years, but Terma's growth will be primarily through acquisitions of relevant companies in the defense industry. The goal is to strengthen Terma and Denmark's ability to develop and produce relevant capabilities ourselves," explains Jes Munk Hansen, adding:

"We are already in close dialog with a number of exciting companies of significant size. Therefore, the first acquisitions may already fall into place this calendar year."

The future holds even more artificial intelligence and cybersecurity

However, it is not only acquisitions that Terma is investing in. According to Jes Munk Hansen, Denmark's largest defense company has also invested heavily in research and development, especially in artificial intelligence (AI) and cybersecurity:

"Digital warfare will only grow, and we at Terma have been aware of this early on. In recent years, we have therefore invested in and developed AI solutions that can significantly increase surveillance and security. At the same time, cybersecurity must be implemented in all solutions and products today, and here we are also well along," says Jes Munk Hansen.

F-35 still the biggest

The first of Denmark's new F-35 fighter jets arrived at Skrydstrup Air Base last year, and as a supplier to the program, which is the world's largest industrial project, it's not surprising that F-35 production is still a major focus for the company:

"Our factories in Grenå and Lystrup produce more than 80 different parts for the F-35 aircraft, which today is the first choice of fighter aircraft for the vast majority of Denmark's allies. There is great professional pride in sending our contribution to Lockheed Martin's factory in Fort Worth, Texas, where the aircraft are assembled," Jes Munk Hansen concludes.

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