The Danish-based international coatings supplier Hempel has announced its plans to double revenue by 2025.

According to a press release, the 105-year-old company plans to achieve that through refocused geographical priorities, focused segment leadership positions, and M&A, while at the same time “accelerating on sustainability, innovation, and digitalization.”

“When the world closed down in 2020 and global operations including ours were challenged, we sped up our strategy process. Now we have laid the foundation for not only doubling our revenue but also for significantly increasing our positive impact for our customers, partners, and employees. We will build leadership positions and invest in our core segments and put sustainability at the heart of how we do business,” said Group President and CEO, Lars Petersson (pictured above).

According to the press release, Hempel expects 50 percent of revenue growth to come from M&A. The strategy also has a clear-cut emphasis on building market leadership positions in specific areas of its four chosen segments: Decorative, Marine, Infrastructure, and Energy.

By 2025, the company expects more than 50 percent of its revenue to come from sub segments and geographies where it holds a leading position, compared to the less than 10 percent today, it said.

The new strategy also sets sustainability targets, such as being carbon neutral in its operations by 2025 and reducing the carbon footprint of its customers.

“Putting sustainability at the heart of how we do business will drive change both within Hempel and across our value chain through our products and services. We see sustainability as a key enabler for growth, by helping our customers reach their sustainability targets,” Petersson said.