Ortofon A/S in Nakskov ended 2024 with a profit of 28.6 million DKK after tax. This is a clear improvement compared to the previous year, where the result was 19.9 million DKK.
"The result is considered satisfactory," writes the management in the report and adds that the result is "above the previously announced due to a changed market situation."
The gross profit increased to 52.7 million DKK from 41 million DKK the year before. The number of employees simultaneously fell from 135 to 105, and salary costs were reduced by over 10 million DKK.
Ortofon produces both cartridges for vinyl records and precision components for, among other things, hearing aids. The sale of cartridges takes place globally through subsidiaries in the USA and Japan, as well as via distributors and webshop.
The management points to product development as a central focus area:
"Efforts are being made to strengthen technical competencies and create a high professional environment within precision mechanics, acoustics, and materials."
During the year, the company launched new cartridges, which according to the management, have contributed positively to the result.
29 million DKK was allocated for dividends, which is 9 million DKK more than the previous year. For 2025, the company expects "a result on par with 2024."
