Hempel achieved a record-breaking financial result in 2023
In 2023, Hempel achieved its best financial result ever, exceeding expectations. Hempel achieved historically high organic sales growth of 13.7% and sales of € 2,351 million. Compared to 2022, this represents an increase of € 192 million, driven by a strong performance across the organisation.
Hempel’s adjusted EBITDA increased to € 349 million in 2023, compared to € 257 million in 2022, and the adjusted EBITDA margin was 14.8%. “Hempel achieved a record result in 2023. We set ambitious targets and exceeded our expectations,” says Michael Hansen, Group President and CEO of Hempel A/S. “We owe the strong results to excellent performance in all areas of our business.”
In 2023, Hempel continued to focus on innovation to develop more sustainable solutions that meet the needs of its customers, enabling them to reduce their carbon footprint while protecting and beautifying their facilities. This focus was reflected in growth in all four of Hempel’s customer segments, with the Marine and Energy segments achieving double-digit organic sales growth of 26.2% and 18.6% respectively. The Decorative segment maintained its position as Hempel’s strongest customer segment in terms of sales, generating 792 million euros. The Infrastructure customer segment increased its turnover by 9.6% thanks to innovative solutions that support customers on their path to sustainability.
Organic revenue growth in the single-digit range and an EBITDA margin of around 15% are expected for 2024.
