Season’s Greeting from Niels Aage Kjær

The year is coming to an end, and it is time to reflect on the year we leave behind and look ahead to the upcoming year. 20-12-2023

We expected 2023 to be a challenging year, and the year has been characterised by a general slowdown in the economy, which has had a negative impact on investments in most markets.

Despite the challenges, the AVK Group has achieved satisfactory results in 2023. We have achieved growth within all business units, AVK Water, AVK Industrial and AVK Advanced Manufacturing, but with great variation between both market segments and the countries we operate in.

The positive development is a result of our long-term strategy and massive investments in our operations, processes, products, business areas and our organisation. Without compromising, we have been able to deliver high-quality products that contribute to sustainable development in all our business units.

I would like to take this opportunity to thank our customers and partners for their trust in us and for a very successful cooperation in 2023.

In 2023, we have expanded, and thus we have increased the number of employees around the world. I would like to take this opportunity to welcome everyone to AVK. This year's result would not have been possible without all our dedicated employees, who cared for our customers, partners and each other and showed true team spirit. I would like to thank each of you personally and on behalf of our management team for your commitment and efforts.

AVK is a family business, founded by my father in 1941, and since 1970 I have had the pleasure of managing the company. This year, the baton has been passed on to a new generation of leaders, and I have taken on the role of chairman of the board.

Also in 2023, AVK Holding and I received the award as EY Entrepreneur of the Year in Denmark. It is a great recognition for the fantastic growth journey AVK has been on over the past 53 years; a journey to which all our employees can be proud to have contributed.

In 2024, we still expect to face some of the challenges we experienced this year. However, we have our organisational structure in place, we are well prepared for the future, and we expect growth in all our primary business areas. Our core values of quality, innovation, reliability, sustainability, and customer service will guide our continued development and investments in operations, processes, products, business areas and our employees.