Nic. Christiansen Group, one of Denmark’s largest car companies, delivered a satisfying result in 2023. The result is better than budgeted despite the fact that market conditions in 2023 have been characterized by great volatility, which is due, among other things, to price reductions across the industry.

At the same time, Nic. Christiansen Group also used 2023 to expand the business with a number of interesting acquisitions in the form of the workshop chain Skorstensgaard, the Toyota dealer chain ERA BILER and the German BMW and Mini dealer chain May & Olde.

Therefore, it is also a satisfied Niels Vrist Bertelsen, Group CEO of Nic. Christiansen Group, who takes stock of 2023.

“It is clear to everyone that these are changing times in the car industry, and therefore I am also satisfied with our performance. In a normal market, our earnings ambitions are higher, but as the year and the market developed, it is satisfactory. The volatility places great demands on our ability to continuously adapt our business, but it also provides great opportunities - and we have really seized them in 2023,” he says and elaborates:

“We have made a number of very exciting acquisitions that strengthen our group and give us a larger customer base. I am proud that we now stand stronger than ever to face the future and create an even more robust and successful company. Our strategic focus is to strengthen the business through acquisitions and an expanded brand portfolio. It’s going well, but we don’t hide the fact that we have an appetite for more,” says Niels Vrist Bertelsen.

Need to create security

The Kolding-based company has also carried out a comprehensive reorganization in 2023 under the headline ‘One NCG – moving forward’, where the organization has been optimized so that Nic. Christiansen Group is well prepared for the future. This is also thought into the design and architecture of the new headquarters, which Nic. Christiansen Group will use in the fall of 2024.

Nic. Christiansen Group expects that 2024 will also be characterized by great competition and volatility, just as it matters that one has gone from a pull to a push market. This will result in a continued challenging market, where the green transition of the car park will also be a theme, believes Niels Vrist Bertelsen.

“There is no doubt that the competition within electric cars will continue, and here at home, the Danes have really embraced electric cars. But at the same time, we are currently seeing trends in the global market where the demand for electric cars is not as before a vertical curve up in the air. On that front, it looks like the demand may have stabilized. Among other things, therefore, we are looking into a time with continued fluctuations, which will mean that both suppliers and manufacturers can come under pressure,” says the CEO and adds:

“In a market with large fluctuations and increasing uncertainty, there is more than ever a need for solid and experienced car companies that can create security and safety on the customer journey for the Danes. In Nic. Christiansen Group, we have 57 years of experience from this industry, and we see it as one of our most distinguished tasks to be able to give consumers peace of mind when they face their next choice of car. That will - also in 2024 - be an important task for our group,” says Niels Vrist Bertelsen.

The large market fluctuations and a Danish economy that will continue to be affected by relatively high interest rates and subdued growth mean that Nic. Christiansen Group expects a result for 2024 that is lower than in 2023.