We have had a busy year with some major changes and the results are beginning to show. Our turnaround has not yet been completed, but in 2014 we have shown that Norisol has a sound future, based on profitability.
We have become significantly better at optimizing projects so that they can be executed in a manner that benefits both our customers and ourselves. In parallel with our work to complete the unprofitable projects, we are consistently building up a strong, forward-looking platform. We are particularly focusing on improving efficiency, organization and risk management.
A turnaround with visible results in 2014 confirmed that our improvements are leading to a brighter future. We believe that the results for 2014 can be qualified as satisfactory.
In 2014 the revenue was DKK 1,2 billion. The Company’s EBIT was DKK 14 million which was as expected. EBITDA was 37 million in 2014, which was a margin of 3%.
The Board of Directors has adopted a new strategy framework focusing on profitability. The focal point of our strategy is productivity, a tight risk model and profitability requirements. Our task is to improve productivity in all we do. This will ensure a sound financial position for the company, but optimum productivity is also our guiding principle in every single customer contact, in all our collaborative relationships and on every single project.
The expected development in 2015 and the many initiatives put in place will have an increasingly positive effect on our operations and the profitability of our projects.
We aim to meet our target of an EBITDA margin of 5% by the end of 2015.