The lighting company LED Ibond has come off well in the first quarter of the year, where the company has grown revenue by 67 percent to DKK 1.5 million, although there is still negative earnings. According to the company's CEO, Martin Løbel, the increase in revenue is due to the strategic investments he previously described to Electronic Supply.
"We have launched some new products, for which we have started to see the first orders at the beginning of the year, says Martin Løbel, referring to new LED solutions for greenhouses, which the company launched at the end of 2023. The director says that LED Ibond is also starting to see revenue in the business area with solar carports. Here larger orders start to fall than before," says Martin Løbel.
The director also confirms that the coverage ratio has grown, which is why the expectation in the long term is that earnings will follow the growing turnover. Established industry in development Martin Løbel goes on to say that there is still some stagnation in the market for vertical farming, which LED Ibond has previously invested heavily in. But within greenhouses, there is a well-established market in development, and this provides business opportunities, he believes.
"Within greenhouses, there is an established industry where more LEDs are used to a greater extent. We are involved in the upgrading of the industry, which is underway," says Martin.
Read the entire article at Electronic Supply (in Danish)