A Danish furniture manufacturer has celebrated its 90th anniversary by posting the strongest financial results in its history. The Aalborg-based company reported a pre-tax profit of DKK 24 million for the 2024 fiscal year, significantly up from DKK 14.8 million in 2023.
© Vela
Growth for the company, Vela, was driven by strong performance in the Nordic region, especially Denmark and Norway, alongside rising exports to Germany, the Netherlands and the United States. CEO Per Buus stated that long-term investments in the US are "starting to yield returns" and described the American market as a key area for future growth.
Vela, founded in 1935 by Vermund Larsen, produces ergonomic chairs and assistive devices. The company recently signed new agreements with the US Department of Veterans Affairs and upgraded production technology at its Aalborg facility to improve both efficiency and craftsmanship.
"We put quality before speed, and we automate the speed," said Buus, highlighting the firm's blend of tradition and innovation.
With gross profit at DKK 124.5 million and staffing levels stable at 135 employees, management now forecasts a profit of DKK 25 to 30 million for the coming year, reflecting continued confidence in both domestic and international markets.
Source: www.wood-supply.dk
