A.P. MØLLER HOLDING A/S ANNUAL REPORT 2019 · MANAGEMENT REVIEW
KK WIND SOLUTIONS KK Wind Solutions is a market leading manufacturer and developer of systems and technology for on- and offshore wind turbines including full range services across the supply chain: manufacturing, installation, operations and maintenance.
For decades, KK Wind Solutions has developed innovative and reliable electro-mechanical solutions for wind turbines. The company serves approximately 50% of the largest original equipment manufacturers (OEMs) globally and has operations spread across Asia, Europe and the US.
EXECUTIVE BOARD • Chlinton A. Nielsen (CEO) • Søren Bæk Just (CFO) BOARD OF DIRECTORS • Jan T. Nielsen (Chairman) • Elke Eckstein • Fabrice Bregier • Jesper Ridder Olsen • Simon Krogsgaard Ibsen • Dorrit Zenner Torp • Jacob Steffensen • Paw Rosenvard
Headquartered in Denmark, KK Wind Solutions has operations in six countries, including production facilities in Poland and India and Sales & Engineering offices in Spain, China and the US. The company has more than 1,400 employees. In September 2019, KK Wind Solutions was acquired by A.P. Moller Holding. A.P. Moller Holding welcomes KK Wind Solutions and its employees to the A.P. Moller Group. THE YEAR IN BRIEF In 2019, KK Wind Solutions delivered a record year with revenue of DKK 2.3bn (DKK 1.6bn) outgrowing the market significantly with an organic growth of 40%. The growth was primarily driven by high demand on existing products as well as the introduction of new products; all business units contributed to the revenue growth.
The impressive results in 2019 is the effect of KK Wind Solutions’ strategy towards 2025 starting to materialise, successfully diversifying the customer portfolio with solutions in advanced technology and world class electro-mechanical system supply, and hereby further solidifying themselves as the leading system supplier within the wind industry. A journey that is expected to continue in the coming years. Subsequent to the acquisition by A.P. Moller Holding, a new Board of Directors has been elected for KK Wind Solutions to further support the global expansion. STRATEGY REVIEW KK Wind Solutions is a leading player in the wind energy market. A market which has seen significant underlying growth in the last decade and which shows significant continued growth prospects, largely driven by the offshore wind market. Overall, the wind turbine generator market is expected to continue to grow and market forecasts support the positive outlook. The combined annual growth rate for on- and offshore is expected to be around 6%
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