YEAR ESTABLISHED: 1915
REVENUE: $1.575 billion
(2015: $1.734 billion)
Architectural; Marine and protective coatings; Container coatings; Yacht coatings; Decorative coatings
Henrik Andersen, group president & CEO; Anders Boyer-Søgaard, EVP & CFO; Lars Petersson, EVP & COO; Michael Hansen, EVP & CCO; Peter Kirkegaard, EVP & CPCO; Marketing directors: Klaus Moeller (Protective), Christian Ottosen (Marine), Thomas C. Olsen (Yacht); Signe Muck (Group R&D).
Protective coatings supplier, Hempel, recorded sales of $1.575 billion in 2016. Hempel employs approximately 5,787 people and is present in more than 80 countries and has 28 factories, R&D centers and more than150 stockpoints around the globe.
“2016 has generally been a good year for the coatings industry although the markets are becoming increasingly volatile,” said Henrik Andersen, CEO of Hempel. “Overall, we have seen growth in the market but also a few segments with challenging conditions, notably a further weakening of shipbuilding activity in marine and a limited level of investment in upstream oil and gas.
2016 was also marked by a record level of M&A activity, including a few very big deals. We expect the industry consolidation trend to continue in the coming years. The consolidation trend requires that Hempel has a global presence and continued growth so that we are able to continue servicing our customers globally.”
“We expect the coatings market to remain challenging in 2017, especially the marine and the oil and gas industries where investments remain low,” he continued. “However, we look forward to another year of solid progress with organic growth returning to positive territory, continued strong margins and further reductions in our net working capital. Our internal excellence projects are already beginning to pay-off – not just in terms of cost reductions and greater efficiency, but also by streamlining our processes and developing our capabilities.”