KK Wind Solutions Reaches Milestone of EUR 1 Billion Revenue in 2024

In 2024, KK Wind Solutions exceeded its expectations for the year. The company delivered strong commercial performance across its product and service business. The acquisitions made in 2023 contributed to revenue growth, while temporarily negatively impacting profitability due to integration and restructuring costs.

Revenue increased by 40 percent to DKK 7.7 billion, or more than EUR 1 billion. Therefore, the company has tripled its revenue over the last 24 months. The company’s core business remained solid, with cash flow from operating activities of DKK 363 million and free cash flow of DKK 275 million. 

The acquisitions of the Converters and Controls business from Vestas Wind Systems A/S, and Nissens Cooling Solutions A/S are crucial for the company’s strategic growth and are expected to yield positive returns in the coming years. Adjusted for integration costs, normalised EBITDA improved by 26 percent from DKK 500 million in 2023 to DKK 632 million in 2024.

“2024 was a record year for KK Wind Solutions. We delivered strong commercial performance across our business and set a new revenue milestone of more than EUR 1 billion, while significantly improving profitability. We are pleased with these results which exceeded expectations. The integration of the acquired assets impacted our bottom line in 2024, although these acquisitions will enable our future growth ambitions,” says Mauricio Quintana, CEO of KK Wind Solutions. 

Commitment to sustainability 
Through KK Wind Solutions’ business segments – power converters and controls, cooling, service and monitoring solutions – the company enables customers and society to transition towards electrifying the world with efficient and renewable energy. 

In 2024, KK Wind Solutions continued its own sustainability transformation journey, and the company made progress in terms of its environmental impact. Total greenhouse gas emissions from its operations decreased by 25 percent. This shift is mainly due to sourcing 100 percent of electricity from renewable sources.

The number of employees increased to 3,700 primarily due to the acquisition of Nissens Cooling Solutions A/S. The company’s focus on health and safety continued with a lost time injury frequency rate of 1.68, which includes acquisitions.

“I would like to sincerely thank our customers and dedicated employees for their cooperation and contributions throughout the year. As we journey forward, enabling electrification through renewable energy remains at the core of our business. As we continue to navigate the challenges posed by geopolitical and economic uncertainties, our commitment to serving our customers, to sustainability and to innovation will remain unwavering. Together, we will build on this year’s achievements and drive further success in the years to come,” says Mauricio Quintana.

Download the 2024 KK Wind Solutions integrated financial and sustainability report.

2025 outlook
In 2025, the company anticipates limited organic growth and expects improved profitability driven by synergies from the acquisitions, process enhancements and efficiencies, as well as procurement savings due to increased scale.

Revenue is expected to range between DKK 7.5 and 7.9 billion in 2025, with an EBITDA margin of 7-9 percent, and normalised EBITDA margin of 8-10 percent. Total investments are expected to amount to approximately DKK 200-300 million. The result after tax is expected to improve compared to 2024.

KK Wind Solutions | www.kkwindsolutions.com