TRIAX ready for new growth
March 30, 2017
TRIAX Holding A/S is gearing up to prepare for future growth through development and acquisitions. Backed by Polaris Private Equity, TRIAX has invested in a new company in 2017: Macnetix GmbH which provides state-of-the-art TV and WiFi solutions to the hospitality sector. Macnetix’s technological competencies and in-depth knowledge of the market combined with TRIAX’s wide geographical market coverage is an extremely good match that helps strengthen TRIAX’s future growth potential.
TRIAX Holding A/S achieved a turnover of DKK 616.3 million and ended up with a normalized EBITDA of DKK 46.1 million and a pre-tax profit of DKK 15.1 million. In the light of the transition process TRIAX has been through, and the many strategic transformational activities, the result is considered satisfactory.
The 2016 activity level was positively affected by considerably increased sales in France as a consequence of converting to the MPEG4 standard. BREXIT challenged the UK market and the adverse development of the British pound had a negative impact in the collective earnings, but thanks to TRIAX’s strong position on the British market, we managed to get successfully through this turbulent period.
As an essential part of implementing TRIAX’s strategy, the management and various key functions have been strengthened on several levels – in Denmark as well as abroad. The process took its beginning in 2015 and continued in 2016. Production processes have been optimised, e.g. by implementing new paint equipment. Outsourcing of the aerial production to China in 2016 was a success as well.
The work of implementing a new IT platform and a shared financial service centre was started in 2015 and concluded in 2016. The company’s visual identity was updated, for instance with a new logo that interlinks TRIAX’s story of success with a new technology-based future.
The scope of the transitional activities naturally exerted an impact on the collective earnings, but CEO of TRIAX Holding A/S, Claus Omann, is pleased with the increase in turnover and deems the result to be satisfactory in view of the circumstances.
“Overall, we are satisfied with this result. We already notice a sensible top-line growth for the purpose of gearing the business to growth because we have made some significant investments within a variety of areas,” says Claus Omann and continues:
“We see an exciting future ahead of us – a future where we will be more focused on solutions sales and expansion of our geographical scope. Therefore, we expect the positive development to continue in the next financial year,” says Claus Omann.
Unlike previous practice, the consolidated financial statements are now prepared at holding level; and, in connection with Polaris’ takeover in 2015, goodwill and investment of additional capital was stated in the balance sheet. Thus, the operating profits in 2015 were adversely affected by the amortization of goodwill, and the pre-tax result was also negatively affected by increased interest expenses. EBITDA adjusted for normalizing equalled DKK 46.1 million.