Strong progress for DEIF in 2024

Skive, Denmark, 5. May 2025

Strong progress for DEIF in 2024

For the fourth consecutive year, revenue grew at the electronics firm DEIF, reaching 766 million DKK, a growth of 7% compared to the previous year. The profit margin landed at 7.3%, which the management considers satisfactory considering the significant investments made in product development and international expansion.

"We aim to stand out clearly in the global market for advanced control systems for both ships and land-based energy facilities. The competition is tough, and we are proud that we have been able to gain market share in the past year while equipping ourselves for the future with new products on the shelves and a strengthened international sales force," says Christian Nielsen, CEO of the family-owned company with more than 600 employees.

Brand new product line ready

In 2024, considerable investments were made in DEIF's R&D departments in both Denmark and Austria to drive the development of DEIF's new flagship - a product line of highly efficient and compact power converters. A total of 17.8% of the revenue was invested in R&D.

Power converters are a key component in the green transition and electrification of both the transport and energy sectors. Through strategic partnerships with international technology companies, DEIF has managed to develop the new converters in record time. The new products were already presented in the spring of 2024 after just one year of development, and DEIF's factory in Skive is ready to start production in May this year.

"We have high expectations for the sales of the new, innovative converters, which are in strong demand in conjunction with our intelligent controls. We can now offer the market integrated solutions, which our customers have already received well as one of the future solutions. A very close collaboration with AVL and Wolfspeed regarding the new converter technology based on silicon carbide has clearly shown the progress we can create by standing together," says Christian Nielsen.

Focus on reducing climate impact

DEIF's products are designed to increase energy efficiency and reduce fuel consumption, thus helping customers reduce greenhouse gas emissions.

"It has always been in our DNA to behave properly and take care of nature and the earth's resources. This has become even more urgent and also applies to our own company. We have therefore significantly increased our efforts by involving the entire global organisation in acting on our goals. The biggest task is in the value chain, where we work closely with our suppliers to reduce greenhouse gas emissions from the production of the electronic components that are included in our products," says Christian Nielsen.

DEIF's goal for reducing greenhouse gas emissions was approved in 2024 by SBTi (Science Based Targets initiative). The long-term goal is a 90% reduction (scope 1-3) by 2050 compared to 2023.

Belief in the future

Even though the winds of uncertainty are blowing strongly at the moment, DEIF has a good deal of optimism regarding achieving progress again in 2025 in both top and bottom lines.

"We expect that the demand for the green transition, electrification, and energy efficiency will grow in the coming year, especially driven by markets in Asia and Europe. The transition in the shipping industry is really moving fast at the moment, where DEIF's controls are central to the efficient operation of both electric ships and ships sailing on a combination of fossil fuel and power from batteries. So, overall, we maintain our optimism despite the current uncertainties," concludes Christian Nielsen.