A safe and sustainable world

Annual report 2021


Satisfactory result and good liquidity launch growth plan

FORCE Technology was focused on transition and growth in 2021. After several years of fluctuating results and divestments, 2021 was the year where the first steps towards a more growth and development-oriented company were taken.

Difficult conditions

FORCE Technology entered 2020 with a good financial and commercial foundation for growth, but the Corona pandemic meant unexpected and difficult conditions with a decline in earnings within most business areas. The difficult conditions continued in 2021 when the Coronavirus especially impacted finances in the spring.

Over the summer, we recovered the lost revenue and earnings, and even though the Corona pandemic once more presented us and our customers with challenges at the end of the year we were able to fulfil the overall expectations for 2021 thanks to a focus on stable order intake and high activity level.

It also made a positive difference that our cost level was lower throughout 2021 than the preceding year and that, for the second year in a row, we succeeded in quickly adjusting many activities to the new reality. For example, we were able to relaunch Simflex with our cloud-based maritime simulator platform, which allows online training in the customers’ own environment.

We also maintained the investment level in 2021 by, for example, cutting the first turf for the largest single investment in facilities in the history of FORCE Technology: A new gas calibration plant in Vejen, which is ready for handling Power-to-X gasses. We are also upgrading one of our many climate chambers so that it is now able to test equipment and products all the way down to minus 60 degrees Celsius.

Satisfactory result and good liquidity

Despite the challenges of the Corona pandemic, FORCE Technology generated a satisfactory profit of DKK 14 million in 2021. This is a decline of DKK 50 million, which is primarily due to the divestment of three business areas which generated extraordinary profits of DKK 68 million in 2020 and DKK 24 million in 2021. In addition, the profit for the year is affected by writedown and discontinuation costs of DKK 24 million.

Revenue amounted to DKK 1,019 million in 2021. This is DKK 66 million less than in 2020. The DKK 44 million is due to the divestments, and the remaining DKK 22 million relates to the loss of one single customer contract. Lower operating expenses could largely compensate for the lost revenue throughout 2021.

In 2021, FORCE Technology improved efficiency. Revenue per employee thus increased by 3 per cent to well over DKK 1 million while the gross profit margin increased by 2 percentage points to 74 per cent – the highest level in 5 years.

Growing subsidiaries

Our subsidiaries have seen nice progress. The Norwegian subsidiary FORCE Technology Norway AS increased its activities after the Corona lockdown and emerged from 2021 in good shape with revenue of DKK 155 million, which is DKK 10 million more than the preceding year. At the same time, the company generated a profit for the first time in 6 years.

The Swedish subsidiary, DELTA Development Technology AB, was able to deliver a great profit in 2021 due to the investments in recent years. Revenue increased to DKK 20 million while the profit before tax increased by DKK 4 million to DKK 7 million. In 2021, FORCE Technology had a new subsidiary, AeroCollect® A/S. The company bases its business on the patented AeroCollect®-technology, which may revolutionize veterinary diagnostics. With this technology, it is possible to monitor entire stocks of animals for diseases through a single air sample.

New strategy

As the foundation for the development of a more growth and development oriented FORCE Technology, we launched a new strategy in 2021 which set a direction and specific targets for 2024.

Because of the new strategic goals that were launched, we have been able to enhance our customer focus and focus on the areas of digitalization, sustainability and safety. At the same time, we want to create a diverse, innovative and attractive workplace to give our many competent and dedicated employees the best basis for acting professionally and responsibly.

Six new market areas were also identified as part of the strategy: Power-to-X, life science, circular economy and resources, wind energy, digital innovation and hybrid tests. The development of new services and products and strengthening of the existing ones are well underway within the six areas.

At the same time, already existing market areas are strengthened to create a strong basis for reaching the strategic goals and the ambition for annual growth in revenue of four per cent during the strategy period.

As an indirect result of the strategy, we obtained ISO 9001 certification in 2021 to strengthen and document our work with quality management.

Corporate social responsibility

One of the fundamental values at FORCE Technology is to assume social responsibility. In the coming years, we will therefore work more strategically with sustainability, both internally and externally. In 2021, we thus started to collect data for new climate accounts for FORCE Technology in Denmark.

The first accounts show that in 2019, we emitted 9,351 tons of CO2-eq. In 2020, this decreased to approx. 7,502 tons CO2-eq, and for both years electricity and cars are the two largest items. In 2021, we saw an increase in our emission to well over 8,161 tons CO2-eq. However, the increase was due to emission from a leaky valve at our gas calibration plant in Vejen, and it was, therefore, an isolated emission episode which will not affect the figures in the coming years. Based on the climate accounts, we have decided to reduce our CO2 emission by 25 per cent compared to 2019 before the end of 2024.

However, social responsibility is not just about sustainability, and in the past year, we have therefore introduced a whistleblower scheme so that employees, customers and other stakeholders may report any suspicion of irregularities in a secure and confidential manner.

In 2021, we also signed the Confederation of Danish Industries’ Gender Diversity Pledge, and in 2022 we set specific goals for gender diversity in the company. In 2020, the number of female employees represented 21.7 per cent while the number of female managers represented 17.5 per cent. In 2021, the number of female employees rose to 22.5 per cent while female managers accounted for 18.7 per cent. There has thus been a positive development in the past year, even if it has not been significant, and the work to set specific goals and initiatives will therefore be critical.

At the end of 2021, the proportion of external female board members was 25 percent. The target is 33 percent by the end of 2024. If you look at the entire board, including the employee-elected members, the proportion of women is 43 percent. An additional female member will take office in May 2022, bringing the proportion of female board members (including the employee-elected) up to 50 percent.

Furthermore, we have decided to publish the total remuneration for the management and the board of directors. In 2021, it amounted to DKK 5.2 million and DKK 0.1 million in directors’ fees paid in FORCE Technology Norway. No remuneration has been paid in other foreign companies. Remuneration has been paid to 13 board members.

Future with growth and investments

FORCE Technology enters 2022 with a strong financial and strategic foundation.

We have our eyes set on growth, and we will grow both with respect to number of employees, investments, revenue and bottom line. With the unremitting Corona pandemic, the shortage of microchips and challenged supply chains globally, it will be growth under difficult conditions. However, with diligence, agility and focus on investment and recruitment, we have positive expectations for 2022.

The course is set for growth and development, and if everything goes according to plan we will see new colleagues, more investments and a sound and growing financial performance in 2022.d










market areas

New market areas in FORCE Technology

In 2021, FORCE Technology launched a new strategy, which formulates and sets specific goals for a new direction towards 2024. Six new market areas are in focus: Power-to-X, life science, circular economy and resources, wind energy, digital innovation and hybrid tests.


Power-to-X is often described as Denmark’s next green growth adventure. FORCE Technology will support the development and provide solutions to complex problems in infrastructure, materials, electronics, metrology, control and security.

Life Science

Life Science is one of Denmark’s most important export industries. FORCE Technology, with strong competencies in compliance, standards, materials, electronics, hygiene, sound and air, will help the sector to live up to high regulatory requirements.

Resources and circular economy

Products and production must be sustainable. FORCE Technology will help customers optimize their resource consumption and live up to requirements for documentation, longer product lifecycles, recycling and circular economy.

Wind energy

Wind energy plays a crucial role in the green transition. FORCE Technology has been involved from the start and will provide services to the entire value chain – from monitoring and corrosion to NDT, simulation, testing, acoustics and materials

Digital innovation of industrial products and productions

Many industrial companies need help digitizing their products or processes. FORCE Technology will support the digital development of the companies’ production with our extensive knowledge in sensors, electronics and IoT.

Hybrid tests and digital services

The future is digital and automated. FORCE Technology will therefore not only be a recognized provider of physical testing, but also build a digital infrastructure of testing facilities and digital access to reports, data, knowledge, digital twins and simulations.

Corporate social responsibility

As a GTS institute, FORCE Technology plays a special role in society and therefore has special obligations and responsibilities. We must be of use to others, and through our contribution to technological development, we contribute to creating growth and prosperity and to making a real, positive difference for people, companies and society at large.

Carbon footprint

FORCE Technology is striving to make the world more sustainable and safe, and in 2021 we therefore prepared climate accounts in order to set ambitious goals for reduction of our emission on the basis of specific data.

Distribution of CO2 emissions in 2021:

Gender diversity

Being a sustainable company also involves gender equality. In 2021, we therefore signed the Confederation of Danish Industries’ Gender Diversity Pledge, and on this basis we have set specfific goals for gender diversity at our company.

Female employees in 2021:
22,5 %
Goal in 2024: 25 %

Female managers in 2021:
18,7 %
Goal in 2024: 22 %

Female board members* (excluding employee-elected)  in 2021:
25 %
Goal in 2024: 33 %

* the proportion of female board members incl. employee-elected is 43 percent. An additional female member will take office in May 2022, bringing the proportion of female board members (including the employee-elected) up to 50 percent.

Research and development

As one of Denmark’s largest GTS institutes, FORCE Technology is one of the cornerstones in a strong Danish innovation system, and through participation in research and development projects we contribute to maturing new technologies and making them accessible to Danish companies.

R&D projects in 2021


R&D revenue in 2021, MDKK


Clusters and standards

Knowledge partner in 12 of 14 clusters
Member of the board in 7 of 14 clusters
Member of 167+ standardization committees

Professional clubs

10 professional clubs
2,000 individual members
400 member companies

Courses and webinars

172 courses
35+ webinars
3,200+ participants

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