Annual report 2023 – ViewNet Systems
The company's main activities:
The company's purpose is the development, production, sale and operation of digital display systems and related business.
Development in activities and financial conditions:
The company's income statement for 2022 shows a profit of DKK 5.253.921 against a profit of DKK 4.399.043 last year, and the company's balance sheet as of 31 December 2022 shows equity of DKK 11.312.102.
The company has carried out an internal restructuring with accounting effect from 1 January 2022, as the company's domicile property has been transferred to an independent sister company in a demerger. This restructuring has reduced both the company's equity and balance sheet.
2022 has been a particularly satisfying year with an increased level of activity and growth with extra high order intake. Through tight focus and solid execution, ViewNet Systems has managed well through 2022, which has otherwise continued to be marked by financial turmoil in the market.
In order to meet the increased activities, the organization has been strengthened and increased by 50% in 2022. In 2022, ViewNet Systems has established a subsidiary in Germany, located near Frankfurt. ViewNet Systems GmbH was established for better access and servicing of the German market.
In 2022, ViewNet Systems has continued to have a high focus on product development in order to continue to offer high performance products for non-stop operation that are sustainable with low power consumption and increased image quality combined with an innovative DOOH-Cloud control system (Digital Out Of Home).
In 2023, we expect growth in all industry areas, but where the Tank and Wash segment will be slightly lower due to major rollouts by some of the country's major players on the Danish market.
The professional and industrial segment will also be the primary segments in 2023, where the emphasis here is on high reliability, 24-7 operation with low operating costs and extra long service life. In 2023, we continue to see great uncertainty in the market with still high inflation and financial turmoil with many industries and segments undergoing change. We also see continued consolidation and differentiation in the market. It has therefore never been more important to have a solid and sustainable company that can get through the next few years. With our continued focus on innovative display solutions and strong execution as well as increased exports, we expect reasonable growth in 2023 and accelerated growth in 2024 and 2025, when things here are expected to stabilize.
