The workshop chain Dækpartner, owned by Henrik Nielsen and Vulkan Dæk, is once again reporting a loss. The DKK 37 million loss does not, however, shake the owner, who expected a difficult start.
The workshop chain Dækpartner is once again presenting a large million-dollar deficit.
Owner Henrik Nielsen of Vulkan Dæk sees a loss of 37 million kroner in the latest accounts. This is the year after Vulkan Dæk took over the chain from Euromaster Danmark.
The acquisition took place last year. The Randers company Vulkan Dæk decided to continue operating the workshops under the new name, Dækpartner.
The new annual accounts cover the first period under the new ownership. The deficit of 37 million kroner shows a continued financial challenge for the chain.
However, the result is a slight improvement compared to the previous year. At that time, the chain was still called Euromaster Danmark, and the deficit amounted to 43 million kroner.
The difference is a loss that has been reduced by 6 million kroner. The management takes this as a step in the right direction.
Director: It takes time to turn the business around.
Henrik Nielsen, owner and CEO, is not exactly surprised by the red numbers.
In fact, he had expected the task to be huge. Creating a profitable business out of the former Euromaster Danmark would require – and apparently still does – both time and resources.
This is what Motormagazine writes.
The integration of the many workshops takes time. New systems and processes must be implemented under the Dækpartner name.
Nielsen emphasizes the importance of patience in the process. The plan to turn things around is long-term, according to the owner.
However, the goal is clear for Vulkan Dæk and Henrik Nielsen. Dækpartner must deliver profits in the future and become a healthy business.
Three years to black numbers?
Henrik Nielsen has set a time frame for the project. He is aiming for a bottom line break-even after three years of operation as Tire Partner.
This means that there is still time to implement the necessary changes. The focus is on improving operations and strengthening Dækpartner's position in the market.
Competition in the tire and auto service market is fierce. Many repair shop chains and independent repair shops are competing for customers. The same goes for car importers' own repair shops.
Dækpartner is not the only repair shop chain with financial difficulties. There is general pressure on the entire automotive industry.
The coming years will be crucial for Dækpartner. The chain must prove that the strategy works and that the profit target can be achieved within the announced time horizon.
At the workshop chain Skorstensgaard, which was acquired by the Danish car importer Nic. Christiansen Gruppen two years ago, the bottom line is also missing millions. Read more about it here .
