Revenue at Denmark’s largest defense company, Terma, has grown by 17% compared to last year. Profit before tax has increased by 33%.
The company, headquartered in Lystrup, Denmark, announces a new growth strategy that will include several acquisitions of “significant size” to double revenue in three years.
The company’s revenue reached DKK 2.6 billion, a growth of 17% compared to last year, while profit before tax ends at DKK 228 million – an increase of DKK 57 million compared to last year. Terma’s revenue has increased by 45% in 5 years, and profit before tax has more than doubled in the same period.
“Terma has gone from being a supplier of partial solutions and components to a unique platform that can take a leading role and deliver complete solutions – both to the Danish defense and other allied customers. Thus, Terma is now also much stronger and ready to take on the important task of strengthening Denmark and Europe’s security,” said Jes Munk Hansen, CEO of Terma.
“The security situation in Europe requires a strong Danish defense industry. Terma is at the forefront of this, and there is a need for us to expand our capabilities. We have concrete plans for significant organic growth in the coming years, but Terma’s growth will be primarily through acquisitions of relevant companies in the defense industry. The goal is to strengthen Terma and Denmark’s ability to develop and produce relevant capabilities ourselves,” Hansen added. “We are already in close dialog with a number of exciting companies of significant size. Therefore, the first acquisitions may already fall into place this calendar year.”
Terma has also invested heavily in research and development, especially in artificial intelligence (AI) and cybersecurity: “Digital warfare will only grow, and we at Terma have been aware of this early on. In recent years, we have therefore invested in and developed AI solutions that can significantly increase surveillance and security. At the same time, cybersecurity must be implemented in all solutions and products today, and here we are also well along,” said Hansen.
The first of Denmark’s new F-35 fighter jets arrived at Skrydstrup Air Base last year, and as a supplier to the program, which is the world’s largest industrial project, it’s not surprising that F-35 production is still a major focus for the company.
“Our factories in Grenå and Lystrup produce more than 80 different parts for the F-35 aircraft, which today is the first choice of fighter aircraft for the vast majority of Denmark’s allies. There is great professional pride in sending our contribution to Lockheed Martin’s factory in Fort Worth, Texas, where the aircraft are assembled,” Hansen said.
Singapore Airlines (SIA) has announced plans to increase flight frequencies and passenger capacity across its network for the 2025 Northern…
Etihad Cargo and Teleport, the logistics arm of AirAsia, have entered into a partnership aimed at increasing cargo capacity and…
SalamAir, Oman’s low-cost airline, has announced the launch of its latest promotion, the "Low Fare Mega Sale," offering discounted fares…
On 13 August 2024, the Düsseldorf-based Rheinmetall Group signed an agreement to acquire all equity interests in Loc Performance Products,…
MRO services provider AAR hosted an internship graduation ceremony on Aug. 8 for the 10 high school students who spent…
The Polish Government has finalised a Foreign Military Sales (FMS) Letter of Offer and Acceptance (LOA) to acquire 96 Boeing…
Korean Air and U.S. defence contractor L3Harris Technologies recently hosted an 'L3 Industry Day' at the Air Force Hotel in…
Worldwide Flight Services (WFS), part of the SATS Group, has secured a five-year licence to manage ramp handling operations at…
Elbe Flugzeugwerke GmbH (EFW), a joint venture between ST Engineering and Airbus, has been granted Continuing Airworthiness Management Organisation (CAMO)…
Walter Cho, Chairman and CEO of Korean Air and Hanjin Group, has been honoured with the top management award by…
airBaltic has placed an order for an additional 10 Airbus A220-300 aircraft, bringing its total order to 90. This marks…
The Israel Ministry of Defense, in collaboration with the Tehkumah Authority, the IDF, and the Hof Ashkelon Regional Council, has…
Virgin Australia has finalised an agreement with Embraer for the purchase of eight E190-E2 small narrowbody aircraft, as part of…
The French Navy's CAMCOPTER S-100 Unmanned Air System (UAS) Squadron was deployed to ensure the security of the waters surrounding…
Air Transport Services Group (ATSG) subsidiary Cargo Aircraft Management (CAM) has leased a Boeing 767-300 converted freighter to New York-based…
Advanced air mobility (AAM) company Volocopter has conducted the world's first electric vertical take-off and landing (eVTOL) flight test within…
Lockheed Martin delivered the first of five C-130J Super Hercules tactical airlifters to the New Zealand Ministry of Defence and…
In June, U.S. Army Special Operations Aviation Command (USASOAC) awarded Boeing a $115 million contract to produce two more MH-47G…
Scoot, the low-cost subsidiary of Singapore Airlines (SIA),will receive its third and fourth Embraer E190-E2 aircraft in Singapore in September…
Ramiro Alfonsín will assume the role of Chief Commercial Officer, LATAM Airlines Group, from Nov. 7. He was earlier Vice…
U.S. and Netherlandshave formalized a Letter of Offer and Acceptance (LoA) agreement to purchase Lockheed Martin’s Joint Air-to-Surface Standoff Missile…
Air India Express has become the first Indian airline to launch a Virtual Interline platform, offering flyers a wider range…
Vard, Norwegian subsidiary of the Fincantieri Group and among the leading companies in the construction of specialized vessels, has signed…
Boeing has delivered the first MH-139A Grey Wolf production aircraft to the U.S. Air Force. The aircraft, part of a…
Embraer has signed an US$ 1 billion syndicated credit agreement for five years. The deal is an extension of a…
Hong Kong's Cathay Group has placed a firm order with Airbus for 30 A330-900 widebody aircraft. The newly-ordered aircraft will…
Türkiye's leading defence company Aselsan has made a significant leap in Defense News' annual “Top 100 Defence Companies List," climbing…
United Aircraft, Shenzhen-based manufacturer of uncrewed aircraft systems (UAS), is seeking international partners for its tilt-rotor UAV (R6000) that will…
Boeing has handed over the first MH-139A Grey Wolf production helicopter to the U.S. Air Force. This aircraft is part…
Airbus has been selected by the French Space Agency (CNES) to design and construct two next-generation microwave radiometers for the…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.