Hempel Full-Year Report 2023

Hempel delivered its best financial results surpassing expectations. Hempel achieved historic high organic revenue growth of 13.7 per cent and revenue of EUR 2,351 million. Compared to 2022, this represents an increase of EUR 192 million, driven by strong performance across the business.

Hempel’s adjusted EBITDA increased to EUR 349 million in 2023, compared to EUR 257 million in 2022,

and the adjusted EBITDA margin was 14.8 per cent.

“Hempel delivered record-breaking results in 2023. We set ambitious targets and we surpassed our expectations,” says Michael Hansen, Group President and CEO of Hempel A/S. “The strong results were thanks to a stellar performance across our business.”

Highlights

• Record high organic revenue growth of 13.7 per cent and revenue of EUR 2,351 million. 
• Adjusted EBITDA of EUR 349 million, an increase of EUR 92 million versus 2022. 
• Leverage ratio improved to 3.1x in December 2023, down from 4.2x in December 2022. 
• Hempel was, for a consecutive year, awarded B by CDP for good environmental management in its 2023 environmental disclosure and scoring process. 
• Double-digit growth in Marine and Energy customer segments, reporting 26.2 per cent and 18.6 per cent growth respectively.