BIRN Group, one of Northern Europe’s largest foundry groups, has just released its financial results for 2024. A year marked by significantly reduced demand across the foundry industry – especially in the Group’s main market as a supplier to the truck industry – has led to both declining revenue and a negative bottom line. At the same time, investments have increased, and the Group sees early signs of market stabilization, expressing cautious optimism for 2025.
2024 was a challenging year for the BIRN Group, ending the financial year with a negative result. According to the newly published annual report, revenue fell by 15.2% compared to 2023, and the year's result amounted to a loss of DKK 35 million, down from a profit of DKK 47 million the previous year.
- There’s no doubt that 2024 has been a difficult year. Like the rest of the European foundry industry, we’ve seen a significant drop in demand across our companies - particularly in our business area related to the truck industry, which has been hit hard. The result is unsatisfactory, but not surprising under these market conditions, says Claus Beier, Group CEO of BIRN Group.
As with the broader European foundry sector, BIRN Group has been impacted by a downturn in key industries such as truck manufacturing and general industrial production. This has forced many companies to adjust their capacity and resources. In 2024, BIRN in Holstebro reduced its workforce by around 17% to align with the market situation.
Despite the market challenges, the Group has significantly increased its investments—from DKK 59.5 million in 2023 to DKK 73.7 million in 2024. These include upgrades to facilities and production equipment that improve energy efficiency and optimize operations:
- Even in a challenging market, it’s important for us to take a long-term perspective. The major investments we made in 2024 have naturally affected our annual result, but they are essential to ensure our future competitiveness. We are investing in new technology, energy efficiency, and operational reliability to emerge stronger when the market turns. It’s about preparing BIRN for the demands of the future - both from our customers and society, says Claus Beier.
Cautious optimism for 2025
The BIRN Group consists of BIRN in Holstebro, TASSO in Odense, ULDALL in Vejen, BIRN Germany in Germany, KOCKUMS MASKIN in Sweden, and TASSO BERNAREGGI in Italy. All companies within the Group are working actively to strengthen collaboration across borders and to make the Group more efficient and adaptable.
This includes digitalization, process optimization, and an increased focus on sustainability and ESG - areas that, according to the Group CEO, are becoming increasingly important to customers and business alike.
- Our industry is evolving, and we must evolve with it. That’s why we’re working strategically to enhance our competitiveness and resilience. This includes ongoing improvements to our production, investments in technology and digitalization, and a stronger commitment to sustainability and ESG reporting. We’ve also adjusted our organizational structure to ensure we’re agile and able to respond quickly to changes in the market, Claus Beier explains.
- Overall, our goal is to make the Group even more efficient, adaptable, and better equipped to meet the demands of both customers and society in a rapidly changing industry. While there’s still great uncertainty in the market, we’re beginning to see signs of stabilization and expect a gradual recovery during the second half of 2025.
For further information, please contact:
- Group CEO Claus Beier, BIRN Group, mobile +45 2923 1227 and e-mail: cbe@birn.dk
- Press service: Trine Kristensen, mobile +45 2980 4021 and e-mail: trine@publicity.dk