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The SWITCH’s earnings jumped sharply last year
Recently, The SWITCH, based in Helsinki, Finland, said that its earnings have jumped sharply compared to last year, and its net sales revenue has increased from $43 million to $78 million in a few years. After the loss, the profit was restored.
The Switch CEO Dag Sandås said: “The Switch Finance is finally beginning to grow rapidly in the right direction. We no longer rely on only one big customer, we have more customers around the world from Asia to Europe. Thanks to our new The increase in products and users has fundamentally boosted our revenue growth."
It is reported that The Switch designs and manufactures permanent magnet generators and power converters for wind power, ships and other industries. The Switch products are almost always exported.
According to Sandås, “about 75% of the company's vast majority of products – for the wind power industry. For example, the Chinese wind power market and the European offshore wind market business are driving our performance to grow substantially. Just recently, we It has begun to deliver the world's largest offshore wind turbine to the UK."
The Switch places high growth hopes on the marine wind power market. Last year, with the support of Japanese parent company Yaskawa Electric Corporation, The Switch acquired the Wärtsilä megawatt-class marine power drive business, thereby enhancing its revenue in the marine permanent magnet shaft generator business. Through this acquisition, the company has now benefited from a range of offerings including a more robust mechanical and drive package, a broader range of products and a broader market access advantage. The Switch will strive to be the best company in the industry in providing drive components for future ships.
The Switch currently employs approximately 200 people in its Vaasa and Lappeenranta, Finland and Stour, Norway facilities.
The Switch's growth goal is to hire more employees in the future. The company's goal is to achieve high growth and achieve possible acquisitions through the support of its parent company, Yaskawa Electric Corporation. Although the competition in the industry is fierce, the company will continue to build the company's brand. The company is well known for its innovation and the real benefits of applying new technologies to users.