07.27.23
Kgs. Lyngby, Denmark
www.hempel.com
PRIVATE COMPANY; YEAR ESTABLISHED: 1915
REVENUE: $2.357 billion (2021: $1.89 billion)
MARKETS SERVED
Architectural; Marine and Protective coatings; Container coatings; Yacht coatings; Decorative coatings
KEY EXECUTIVES:
Michael Hansen, group president and CEO; Peter La Cour Gormsen, CFO and EVP of finance; Katarina Lindström, EVP technology & operations and COO; Joe Devitt, EVP of Decorative; Alexander Enström, EVP of Marine; Steen Niemann Madsen, EVP of Energy & Infrastructure; Pernille Fritz Vilhelmsen, chief people & culture officer and EVP of people & culture; Rene Overgaard Jensen, chief transformation & information officer and EVP of digital, strategy & transformation.
Protective coatings supplier Hempel employs approximately 7,500 people, is present in more than 80 countries and has 26 factories, 17 R&D centers and more than 150 stock points around the globe. Decorative coatings comprises 18% of sales, Marine 35%, Infrastrucuture 24%, Energy 18% and Other 5%.
Michael Hansen, group president and CEO of Hempel, offered his opinion on the state of the coatings industry and how Hempel is facing key industry trends:
“Across industries, we have has seen a significant increase in the demand for our innovative, sustainable products - such as our silicone hull coatings, which enable marine customers to significantly decrease fuel consumption and reduce their environmental impact as a result.
"At Hempel, we strive to put sustainability at the heart of everything we do. Like all companies, we have a responsibility to lower emissions from our operations and reduce the resources we use, whilst at the same time, continuing to develop products and solutions that support our customers on their sustainability journeys.
"2022 was a challenging year, but we still managed to reach several noteworthy strategic milestones across our portfolio of business areas. Hempel’s Marine business closed the year with revenue of €626 million, an increase of €159 million, corresponding to an impressive organic revenue growth of 33.1 per cent - the highest ever for this business area.
"In addition, we expanded our own store network and range for Decorative customers, launched a ground-breaking new sustainable solution for wind turbine blades, and opened a large new factory in Yantai, marking 30 years with Hempel factories in China.
"In the beginning of 2022, we also simplified our organization, which means that we are now even more closely aligned with our customers. Coupled with a global operations setup, we are now able to avoid certain challenges and better support our customers and employees across geographical boundaries.
"We are on a growth journey here at Hempel, partway through our Double Impact business strategy, which will see Hempel double our revenue to €3 billion in 2025. This year, we’ll be further scaling our business to ensure it is fit for future growth. Continuing on our digitalization journey and delivering on our commitments to diversity, equity and inclusion will also be important focus areas for the year ahead.”
www.hempel.com
PRIVATE COMPANY; YEAR ESTABLISHED: 1915
REVENUE: $2.357 billion (2021: $1.89 billion)
MARKETS SERVED
Architectural; Marine and Protective coatings; Container coatings; Yacht coatings; Decorative coatings
KEY EXECUTIVES:
Michael Hansen, group president and CEO; Peter La Cour Gormsen, CFO and EVP of finance; Katarina Lindström, EVP technology & operations and COO; Joe Devitt, EVP of Decorative; Alexander Enström, EVP of Marine; Steen Niemann Madsen, EVP of Energy & Infrastructure; Pernille Fritz Vilhelmsen, chief people & culture officer and EVP of people & culture; Rene Overgaard Jensen, chief transformation & information officer and EVP of digital, strategy & transformation.
Protective coatings supplier Hempel employs approximately 7,500 people, is present in more than 80 countries and has 26 factories, 17 R&D centers and more than 150 stock points around the globe. Decorative coatings comprises 18% of sales, Marine 35%, Infrastrucuture 24%, Energy 18% and Other 5%.
Michael Hansen, group president and CEO of Hempel, offered his opinion on the state of the coatings industry and how Hempel is facing key industry trends:
“Across industries, we have has seen a significant increase in the demand for our innovative, sustainable products - such as our silicone hull coatings, which enable marine customers to significantly decrease fuel consumption and reduce their environmental impact as a result.
"At Hempel, we strive to put sustainability at the heart of everything we do. Like all companies, we have a responsibility to lower emissions from our operations and reduce the resources we use, whilst at the same time, continuing to develop products and solutions that support our customers on their sustainability journeys.
"2022 was a challenging year, but we still managed to reach several noteworthy strategic milestones across our portfolio of business areas. Hempel’s Marine business closed the year with revenue of €626 million, an increase of €159 million, corresponding to an impressive organic revenue growth of 33.1 per cent - the highest ever for this business area.
"In addition, we expanded our own store network and range for Decorative customers, launched a ground-breaking new sustainable solution for wind turbine blades, and opened a large new factory in Yantai, marking 30 years with Hempel factories in China.
"In the beginning of 2022, we also simplified our organization, which means that we are now even more closely aligned with our customers. Coupled with a global operations setup, we are now able to avoid certain challenges and better support our customers and employees across geographical boundaries.
"We are on a growth journey here at Hempel, partway through our Double Impact business strategy, which will see Hempel double our revenue to €3 billion in 2025. This year, we’ll be further scaling our business to ensure it is fit for future growth. Continuing on our digitalization journey and delivering on our commitments to diversity, equity and inclusion will also be important focus areas for the year ahead.”
