CS-Vagt in Maribo has been busy. New customers, more tasks, and many employees. Nevertheless, 2024 ends in the red, according to the latest accounts.
The company has existed since 1996 but was converted to an ApS in 2023. The latest accounts are the first full year with the new company structure - and show a deficit of 2.3 million kroner.
- We have had high expenses for equipment, which we need to have in stock to be able to solve the tasks. A lot of money is tied up in our rental warehouse, says director Claus Martin Stechnik.
Among the equipment are video towers, which are rented out to construction sites and used for surveillance outside working hours.
- It is a cheap and good way to prevent theft, and something many construction sites demand.
The company also rents out rescue containers - a type of container with, among other things, a stretcher, defibrillator, and first aid equipment.
- It is expensive equipment, but necessary. We must be able to deliver immediately.
Strong growth and adjustments
CS-Vagt had up to 83 employees in 2024 and today has just over 70. The turnover ended at just under 34 million kroner, but personnel costs exceeded that amount. Particularly, patrol driving has pressured the salary budget.
- It is one of the areas we are now outsourcing to reduce wage costs, says Claus Martin Stechnik.
CS-Vagt has customers all over the country and handles tasks for both public institutions and private companies. Among other things, the company provides security solutions to the University of Copenhagen and several large industrial clients. Additionally, CS-Vagt has tasks at several large construction sites - including the Fehmarn connection and the Storstrøm Bridge.
- We have been busy, even here in July. New orders are constantly coming in.
Expecting a profit this year
Despite a deficit in 2024, the management is optimistic. An unaudited half-year financial statement shows a profit before tax of 1.8 million kroner. The whole year is expected to result in a surplus of 2 million. The owners have also issued a letter of support.
- There is great demand for what we do. We are in a good position, even though we have had a slightly heavy start as a new company, says Claus Martin Stechnik.
