DEAS increases its revenue
Press release: In 2018, the DEAS Group achieved growth of 4.8% from 2017. Revenue increased from DKK 525.8 million in 2017 to DKK 550.9 million in 2018, and EBITDA was DKK 36.9 million in 2018.
In 2018, we strengthened our unique position in the market, with two strong offers to customers, which are asset management and property management. In addition, we now have a much more efficient delivery platform for our customers.
We achieved satisfactory growth and revenue in 2018. We have also faced relatively high costs, however, including our purchase of Nordea Ejendomme, which inevitably affects the company's earnings and bottom line,
says Henrik Dahl Jeppesen, CEO of the DEAS Group.
Acquisition of Nordea Ejendomme strengthens the overall value offering
In November 2018, DEAS acquired Nordea Ejendomme and took a major step towards becoming investors’ preferred partner within both asset management and property management.
DEAS now has a very strong platform to offer customers a partner that can execute professionally across the entire property management value chain. This is a unique value offer for the Danish real estate market, for which we see a growing need,
says Henrik Dahl Jeppesen.
Since the takeover, DEAS has invested in building a strong and competent asset management team and ensuring a good integration of the more than 90 new employees from Nordea Ejendomme.
Investments in improved servicing of tenants and customers
In 2017, DEAS began a project to strengthen the company's top priorities: quality, customer service and efficiency. This project, called ‘New Ways of Working’, was continued in 2018 and has involved a comprehensive transformation of the way DEAS produces deliveries, including efficient production planning, teamwork and a constant focus on improvements.
We can now see the results of the great efforts made by our skilled employees. Our ongoing tenant survey indicates a clear improvement in our tenants’ satisfaction levels.
This is clear evidence that our investments in employees, more efficient processes and new ways of working are yielding concrete results and improvements,
says Henrik Dahl Jeppesen.
The DEAS Group expects to gain market shares within the core areas of property administration and asset management.
Around 40% of our revenue comes from our original core business, property administration. Here, we currently have a market share of just under 9% in the various property segments in which we compete, and we expect that we will be able to increase this share in the coming years.
The asset management market is growing rapidly, and here we also have a strong basis to gain market shares,
Henrik Dahl Jeppesen concludes.
Published 28. March 2019