We've just completed a new forecast of expected revenue across our portfolio this year – and it's always a pleasure to see the impact of our products across markets.
Although we are a small invention business, our inventions generate revenue of approximately DKK 35 million annually – with healthy organic growth.
Of course, it's not money we ourselves turn over, because many of our inventions are created in partnerships and with royalty agreements (and not all of them have been equally good – as we described earlier).
Nevertheless, we are proud of this figure: there is indeed something quite magical about seeing our small innovation office in Sydhavnen sending hundreds of thousands of the product to market, which generates many millions in revenue year after year.
Even in cases where we no longer receive licence fees, it is a pleasure to see our products live and make a difference – and this becomes very clear and tangible when we occasionally tally up the projected revenue figures across the portfolio.
How is success measured?
We have a wide range of inventions across industries: from desks and construction tools to waste management and an ambitious crane system – all developed and brought to market over the past 15 years.
Some sell 100,000 a year. Others a handful. And the price ranges from a few hundred kroner to half a million.
So how do we measure success? For us, it's not always just about the bottom line. When we do our accounting here, it's just as much about how proud we are that we've made some products that are actually long-lasting solutions.
While annual turnover and numbers are the starting point, in reality, it is equally an expression of all the knock-on effects: environmental impact, social impact, efficiency and competitiveness for customers, working environment – and then they create jobs in other companies.
Having it widely known and documented that our products are good and can keep the competitors at bay is just good for confidence.