In a 2020 characterised by Covid-19, Vilhelm Lauritzen Arkitekter delivers a solid result. The annual accounts show a profit of just over DKK 37 million before tax and a turnover of just over DKK 127 million.
The result is the best so far in the company’s 100 year history and with a profit margin of 29 per cent and a solvency ratio of 43 per cent, management calls the financial development and yearly result as satisfactory.
“As the 2020 result shows, we enjoy a healthy business on a sensible foundation. We are proud to have maintained a high activity level for years and simultaneously delivered high quality architecture and strict project management“, says Gyrithe Saltorp, CEO of Vilhelm Lauritzen Architects.
The year held a steady flow of new tasks, high project activity and development projects within e.g. sustainability and digitalisation. The areas that have generated the largest turnover are housing, health, office, infrastructure and life sciences as well as hotels, education and retail. With a net revenue more than 10 percent higher than 2019, the company maintains a positive revenue curve for many years.
“When we presented the 2019 accounts, Covid-19 had just reached Denmark. Thanks to the enormous dedication and flexibility of our employees, clients and business partners, we have managed to keep up activity this past year in a market that has done well during the corona crisis, ”says Gyrithe Saltorp.
The yearly result comes in the wake of the news that partners and management of Vilhelm Lauritzen Architects have expanded the circle of owners with an external partner – an German family-backed investor. The new international partner will contribute to the realisation of a significant development potential – primarily based on the company’s strong experiences with complex architecture, sustainability and digitalisation.
Vilhelm Lauritzen Architects is behind some of Denmark’s largest construction projects, such as the tip of Nordø, Kronløb Island, Copenhagen Airport and the mega hospital New North Zealand Hospital. In December, the company and H + Arkitekter, led by Hoffmann, won the new four-year framework agreement with the Danish Building Authority and in October began a collaboration with Japanese Kengo Kuma Architects on the design of the Water Culture House in Copenhagen.
The company continues to focus on the development of more sustainable construction and is, among other things, architects on Denmark’s largest framework agreement with wooden construction for Boligselskabet Sjælland and also builds the country’s tallest six-storey building in wood.