MacArtney maintains momentum towards profitable growth

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Tags: macartney group

MacArtney, the world leader in underwater technology, looks back on a year in which the company demonstrated its inherent robustness presenting a stable result despite a downturn in sales. A satisfactory outcome, owing to employee contributions. Good momentum in the second half of the fiscal year forms the foundation for continued optimism.

Summing up the fiscal year 2020/2021, the MacArtney Group presents an annual report showing steady financial prosperity, maintaining its EBIT and EBT at previous levels despite a downturn in sales of 8%. The outlook is generally positive, and MacArtney expects top-line growth in spite of global shortages putting pressure on margins.

Good momentum in the second half of the financial year gives grounds for continued optimism accompanied by record order levels, signifying an exceptional start to the new financial year.

CEO Claus Omann expresses his gratitude to the employees and customers:

"MacArtney enjoyed a successful year with solid results under difficult market conditions, thanks to the magnificent efforts of our employees. They have, parallel to our customers, adapted successfully to new ways of working during the pandemic."

The increased activity level through the year was reflected in investment in working capital, including setting up distribution centres to secure and protect product deliveries as supply chains come under pressure globally.

Anniversaries for long-serving personnel throughout 2021 bore witness to the high level of dedication and loyalty enjoyed by MacArtney, and the reason for the company's international success, existing solid customer base and relationships.

2021 saw the successful launch and sale of a new version of its multiplexer for data acquisition, the NEXUS 8. The 2020 launch of eLARS – an environmentally friendly, all-electrical Launch & Recovery System - led to an order and the building of one of the largest systems in the company's history.

MacArtney intends to develop its core business within underwater technology further, exploit new fields, particularly renewables, and focus more on its ground-breaking 2025 strategy. Consequently, the company recruited a new board member to promote continued growth in the offshore wind market.

Claus Omann concludes,

"MacArtney has further geographic expansion in its sights, as we believe a global footprint is essential to continued success. Our operation in the Netherlands is building a new office, and we are reaping the rewards from the new locations we opened, including in India. Now we look forward to once again meeting our customers in person, at exhibitions and appointments, and acknowledge their loyalty and flexibility."

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