New plan on strategy and growth is working
The annual report for VTI, glulam manufacturer Vinderup Traeindustri, shows the best result ever with a bottom line of just under DKK 10 million after taxes
- Our growth plan is in motion and producing results. Not only is the bottom line satisfactory, so are all the key figures. This has, of course, sharpened our taste for more. So our 2020 goal is a significantly higher turnover – says CEO Bjarne Andersen. He explains the positive developments as resulting from increased sales in both new and existing markets and growth in all product groups: furniture boards, window components, stair parts and DIY boards. On top of that a new product group is in the making VTI ENERGYwood® - a line of heat-treated wood for the window and outdoor segments. VTI expect major interest and demand following the launch. Especially from the window industry due to the energy saving properties of the fingerjointed frames.
Sales are booming
Sales have grown by 23% in the past year. We have become even better at advising and developing partnerships with our customers. 70% of sales are exported and our sales team has advanced into a specialist group guiding our customers on efficient usage, lower costs and better yields. We know that our customers appreciate the consulting we offer, so we will develop and expand on this service – maintains Bjarne Andersen. New equipment, LEAN – and a bigger factory VTI currently employs 125 dedicated co-workers, but plan to expand the workforce as the growth plan gains momentum. VTI is the largest independent glulam manufacturer in Europe today. Bjarne Andersen explains that one reason is the in-house know-how on developing new equipment, which increase productivity and enhance the working environment. We are working with a Danish equipment supplier to develop new equipment producing at double to triple speed. We shall not reduce the number of employees as focus remains on a streamlining process that makes us even more competitive in world market pricing, so we need more people. Another part of that process is a LEAN project in 2016, which aim to increase efficiency in all areas – concludes Bjarne Andersen. Finally VTI is evaluating plans to expand the warehouse capacity in 2016.
VTI also looks forward to celebrating that founder and chairman, Flemming Nielsen, turns 60 this October and VTI turning 40 in February 2016.
Key figures 2014/15
- Result after tax, TDKK 9.710
- Equity TDKK 58.145
- Solidity 37,02 %
- EBITDA TDKK 21.885
For further information please contact CEO Bjarne Andersen. Phone: +45 96 95 03 14