Kgs. Lyngby, Denmark
www.hempel.com
PRIVATE COMPANY; YEAR ESTABLISHED: 1915
REVENUE: $2.556 billion (2022: $2.159 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; Pernille Fritz Vilhelmsen, chief people & culture officer and EVP of people & culture; Emilie Barriau, CTO and EVP of technology; René Overgaard Jensen, chief transformation & information officer EVP of digital, strategy & transformation; Steen Niemann Madsen, EVP, head of Energy & Infrastructure; Ana Henriques, EVP, head of Decorative; and Alexander Enström, EVP, head of Marine.
Protective coatings supplier Hempel employs approximately 7,500 people, is present in more than 80 countries and has 26 factories, 15 R&D centers and 27 warehouses around the globe. Decorative coatings comprises 18% of sales, Marine 35%, Infrastrucuture 24%, Energy 18% and Other 5%.
2023 Success Story
Last year, Hempel maintained sharp focus on innovations to develop more sustainable solutions to meet its customers’ needs, enabling them to lower their CO2 footprint, while protecting and beautifying their assets. We made significant progress on our ambition to become the sustainability leader within our chosen industries in paints and coatings. Some great examples of this are the DNV verification of Hempaguard X7, which means that its impressive impact on fuel savings and speed loss have now been third-party validated, as well as the launch of our biocide-free hull coating solution, Hempablue, and the launch of our Product Data Sheets for increased customer transparency.
In 2020, we set a target of having 50% recycled plastic in the primary packaging of our Decorative products by 2025. In 2023, we managed to reach 49% recycled content (from 0% in 2017). As a result, we decided to expand the scope of our 2025 target to include all plastic packaging (primary and secondary) from across all our customer segments: Decorative, Marine, Energy and Infrastructure.
Another important milestone was Hempel A/S agreeing to enter into a strategic partnership with CVC to accelerate our ambitious long-term organic and inorganic growth strategy. The partnership with CVC will support the acceleration of our organic growth and value creation plan, through increasing investment in the development of new, cutting-edge sustainable technologies for the benefit of our customers, for example. We will benefit from CVC’s deep experience of investing in, and growing businesses organically and through strategic acquisitions.
During the year, we welcomed more high caliber leaders to our Executive Group Management: Peter la Cour Gormsen, CFO and EVP of finance, René Overgaard Jensen, chief transformation & information officer and EVP of digital, strategy & transformation, Ana Henriques, EVP and head of Hempel’s Decorative segment and soon, Emilie Barriau, who will join as CTO and EVP, technology.
We completed the sale of our assets in Russia in July 2023 and exited the market in a responsible way.
