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Garmin Nordic Denmark A/S

Public limited companyCVR 11363881BallerupActive

Garmin Nordic Denmark A/S is a public limited company, based in Ballerup, active in wholesale of other machinery and equipment, founded in 1987. Net profit rose 6% from 2024 to 2025, ending at DKK 35.3m. Profit has grown three years in a row. With 69 employees, the company is about 12 times larger than the industry median.

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Key figures · financial year 2025

RevenueDKK 1.5bn+9.2% vs. 2024
Net profitDKK 35.3m+6.3% vs. 2024
EquityDKK 229.8m+18.1% vs. 2024
Employees69latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • Gross profit rose 5% (2024 → 2025), to DKK 95.7m.
  • Revenue rose 9% (2024 → 2025), to DKK 1.5bn.
  • Net profit rose 6% (2024 → 2025), to DKK 35.3m.
  • Equity rose 18% (2024 → 2025), to DKK 229.8m.

Employees

  • 2 fewer employees than a year earlier: 69 (08/2026) against 71 (08/2025).

Management and owners, last 24 months

  • New in management: Jonathan Peter Joseph Wagstaff (board member, 15/03/2025).
  • Stepped down: Andrew Russell Etkind (board member, 15/03/2025).

Registrations, last 24 months

  • 02/01/2026: Moved to Pederstrupvej 82, 2750 Ballerup

Calculated from the latest two annual reports in sequence and from registrations in CVR. A figure that is missing in either year gives no line, and we derive no figures.

Financial statements

Financial years 2020–2025 · amounts in DKK thousand

Equity and net profit

DKK 0DKK 50mDKK 100mDKK 150mDKK 200mDKK 250m202020212022202320242025
EquityNet profit
Financial figures for Garmin Nordic Denmark A/S
202020212022202320242025Change
Revenue1,149,4371,242,9611,113,2601,150,5321,345,2531,468,543+9.2%
Gross profit72,31080,75075,78477,61391,28595,709+4.8%
Operating profit (EBIT)31,83633,26328,64430,72440,92644,509+8.8%
Profit before tax31,31533,07428,54632,01242,79945,346+6%
Net profit24,21725,58522,18624,82633,17735,271+6.3%
Total assets421,435486,807373,537452,102441,752872,035+97.4%
Equity126,773137,358144,544161,370194,547229,817+18.1%
Cash and cash equivalents56,28244,08120,14947,92599,83080,296−19.6%
Average number of employees677175697570−6.7%

Source: annual reports filed with the Danish Business Authority (XBRL). Figures for the company (not the group); change is the latest year against the year before. “–” means the figure is not stated in the annual report.

Download the figures as CSV · free with an account, amounts in whole DKK

DKK 0DKK 20mDKK 40mDKK 60mDKK 80mDKK 100m202020212022202320242025
Gross profitMedian, the industry (1,000 companies)

Signals from the financial statements

calculated from the 2025 figures

  • Profit for five years in a row

    Net result has been positive in 2021–2025.

    How is this calculated?

    Net result is positive in the five latest annual reports in a row.

The signals are rules applied to the figures in the annual reports. They are not an assessment or credit rating of the company. See Data and method.

Annual reports

6 financial years
Annual reports for Garmin Nordic Denmark A/S
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202530/06/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202401/07/2025The companyPDFXBRL
202301/01/2023 – 31/12/202327/06/2024The companyPDFXBRL
202201/01/2022 – 31/12/202221/06/2023The companyPDFXBRL
202101/01/2021 – 31/12/202123/06/2022The companyPDFXBRL
202001/01/2020 – 31/12/202006/07/2021The companyPDFXBRL

The figures from all the annual reports are shown on this page. The documents themselves (PDF and XBRL, the machine-readable edition) are downloaded with a Pro account: sign in or create a free account, and then choose Pro. XBRL is the edition the figures on the page are read from.

Employees

monthly figures from CVR
0102030405060708009/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/2608/26
Employees

Position in the industry

1,000 companies in the database

Comparison with the other companies in wholesale of other machinery and equipment based on the latest financial year.

Gross profitDKK 95.7mNo. 38 of 1,000
Better than 96% of the companies in the industry
EquityDKK 229.8mNo. 17 of 1,000
Better than 98% of the companies in the industry
Number of employees69No. 46 of 1,000
Better than 95% of the companies in the industry

Industry median: gross profit DKK 6m, net profit DKK 772k, equity DKK 4.8m, 6 employees.

DKK 100kDKK 961kDKK 9.2mDKK 88.8mDKK 401.7mHere
Distribution of gross profit for 957 companies in the industry (latest financial year, logarithmic scale). Amber bar: where this company sits.

Compared with similar companies

size, age and company form
Rank among similar companies
GroupGross profitEquity
Companies with 50–199 employees4,467 companies in the comparison
No. 735of 4,412
Better than 83%
No. 307of 4,466
Better than 93%
Same industry and 50–199 employees62 companies in the comparison
No. 21of 62
Better than 67%
No. 5of 62
Better than 93%
Companies that are at least 30 years old10,276 companies in the comparison
No. 881of 10,152
Better than 91%
No. 704of 10,275
Better than 93%
All companies of type A/S18,025 companies in the comparison
No. 1,651of 17,786
Better than 91%
No. 1,301of 18,024
Better than 93%

The rank is calculated among companies in the database with a figure for the latest financial year, and is shown only for groups of at least ten companies.

Compare with the industry

Wholesale of other machinery and equipment
Gross profit
  1. Garmin Nordic Denmark A/SDKK 95.7m
  2. HydraSpecma A/SDKK 854.1m
  3. Sanovo Technology A/SDKK 779.2m
Net profit
  1. Garmin Nordic Denmark A/SDKK 35.3m
  2. HydraSpecma A/SDKK 142.1m
  3. Sanovo Technology A/SDKK 204.2m
Equity
  1. Garmin Nordic Denmark A/SDKK 229.8m
  2. HydraSpecma A/SDKK 1.2bn
  3. Sanovo Technology A/SDKK 592.3m
Employees
  1. Garmin Nordic Denmark A/S69
  2. HydraSpecma A/S365
  3. Sanovo Technology A/S216

Latest financial year per company. Choose up to three companies from the largest in the industry.

Owners and group

from the Public Ownership Register
Owners
  • Garmin Nederland B.V.100%
Garmin Nordic Denmark A/S

Management

4 active registrations

Executive management

Executive management at Garmin Nordic Denmark A/S
NameRoleAppointed
Jan-Åke ArenäsCEO16/12/2013

Board of directors

Board of directors at Garmin Nordic Denmark A/S
NameRoleAppointed
Sean BiddlecombeBoard member31/12/2012
Jan-Åke ArenäsBoard member16/12/2013
Jonathan Peter Joseph WagstaffBoard member15/03/2025
Founders
KR 332 ApS
Former management (19)
Former management at Garmin Nordic Denmark A/S
NameRoleAppointedResigned
Jens Buhl JørgensenBoard member14/09/198717/01/2008
Jens Buhl JørgensenDirector14/09/198701/01/2010
Ib HagbarthBoard member14/09/198725/08/1999
Peter FriisDirector14/09/198708/06/1988
Bernhard SchickChair of the board14/09/198725/08/1999
Bernhard SchickDirector14/09/198729/03/1989
Derek FawcettDeputy chair14/09/198725/05/1992
Michael DaxerBoard member14/09/198724/03/1993
Michael DaxerDirector14/09/198722/01/1991
Ian GodfreyBoard member14/09/198715/03/1994
Lars Bo IveChair of the board25/08/199917/01/2008
Thomas Søbirk PoulsenBoard member25/08/199902/10/2000
Thomas Petersen EldorBoard member25/08/199917/01/2008
Min-Hwan KaoChair of the board17/01/200831/12/2012
Kevin S. RauckmanBoard member17/01/200831/07/2014
Kenneth AabenhusDirector01/01/201016/12/2013
Clifton Albert PembleChair of the board31/12/201231/10/2017
Doug BoessenBoard member31/07/201431/10/2017
Andrew Russell EtkindBoard member31/10/201715/03/2025

Signing rule: Selskabet tegnes af bestyrelsens formand og en direktør i forening eller af to bestyrelsesmedlemmer i forening.

Address and production units

1 active production units

Pederstrupvej 82
2750 Ballerup

Ballerup Municipality · Postcode 2750

Production units
Production unitAddressEmployeesP number
GARMIN NORDIC DENMARK A/SPederstrupvej 82, 2750 Ballerup691000223063

Purpose

Selskabets primære formål er handel indenfor telekommunikations- og navigationsudstyr samt anden hermed beslægtet virksomhed

The purpose is quoted from the register in Danish.

Changes year by year

67 registered events
20262 changesaccounts 1 · address 1
  • Annual report for 2025 published
  • Moved to Pederstrupvej 82, 2750 Ballerup
20253 changesaccounts 1 · management 2
  • Annual report for 2024 published
  • Jonathan Peter Joseph Wagstaff appointed board member
  • Andrew Russell Etkind stepped down as board member
20241 changeaccounts 1
  • Annual report for 2023 published
20231 changeaccounts 1
  • Annual report for 2022 published
20221 changeaccounts 1
  • Annual report for 2021 published
20211 changeaccounts 1
  • Annual report for 2020 published
20175 changesmanagement 3 · ownership 2
  • Andrew Russell Etkind appointed board member
  • Doug Boessen stepped down as board member
  • Clifton Albert Pemble stepped down as chair of the board
  • Garmin Nederland B.V. registered as owner (100%)
  • Garmin BV is no longer registered as owner
20142 changesmanagement 2
  • Doug Boessen appointed board member
  • Kevin S. Rauckman stepped down as board member
20135 changesname 1 · management 3 · industry 1
  • Name changed from GARMIN DANMARK A/S to GARMIN NORDIC DENMARK A/S
  • Jan-Åke Arenäs appointed board member
  • Jan-Åke Arenäs appointed ceo
  • Kenneth Aabenhus stepped down as director
  • Industry changed to Engroshandel med andre maskiner og andet udstyr (466900)
20124 changesmanagement 3 · ownership 1
  • Sean Biddlecombe appointed board member
  • Clifton Albert Pemble appointed chair of the board
  • Min-Hwan Kao stepped down as chair of the board
  • Garmin BV registered as owner (100%)
20102 changesmanagement 2
  • Kenneth Aabenhus appointed director
  • Jens Buhl Jørgensen stepped down as director
20087 changesname 1 · management 5 · industry 1
  • Name changed from FAIRPOINT NAVIGATION A/S to GARMIN DANMARK A/S
  • Min-Hwan Kao appointed chair of the board
  • Kevin S. Rauckman appointed board member
  • Lars Bo Ive stepped down as chair of the board
  • Thomas Petersen Eldor stepped down as board member
  • Jens Buhl Jørgensen stepped down as board member
  • Industry changed to Detailhandel med reservedele og tilbehør til motorkøretøjer (453200)
20071 changeindustry 1
  • Industry changed to Detailhandel med reservedele og tilbehør til biler mv. (autoudstyrsforretninger) (503020)
20042 changesname 1 · address 1
  • Name changed from FAIRPOINT A/S to FAIRPOINT NAVIGATION A/S
  • Moved to Hejrevang 19, 3450 Allerød
20011 changemerger 1
  • Merger registered in CVR
20001 changemanagement 1
  • Thomas Søbirk Poulsen stepped down as board member
19997 changesname 1 · address 1 · management 5
  • Name changed from FERROPILOT (DANMARK) A/S to FAIRPOINT A/S
  • Moved to Hejrevang 21F, 3450 Allerød
  • Thomas Søbirk Poulsen appointed board member
  • Lars Bo Ive appointed chair of the board
  • Thomas Petersen Eldor appointed board member
  • Bernhard Schick stepped down as chair of the board
  • Ib Hagbarth stepped down as board member
19961 changecapital 1
  • Share capital changed from 1,000,000 DKK to 2,000,000 DKK
19941 changemanagement 1
  • Ian Godfrey stepped down as board member
19931 changemanagement 1
  • Michael Daxer stepped down as board member
19921 changemanagement 1
  • Derek Fawcett stepped down as deputy chair
19911 changemanagement 1
  • Michael Daxer stepped down as director
19893 changesname 1 · capital 1 · management 1
  • Name changed from FERROPILOT (DANMARK) ApS to FERROPILOT (DANMARK) A/S
  • Share capital changed from 80,000 DKK to 1,000,000 DKK
  • Bernhard Schick stepped down as director
19882 changesname 1 · management 1
  • Name changed from DKNF 364 ApS to FERROPILOT (DANMARK) ApS
  • Peter Friis stepped down as director
198711 changesfounded 1 · management 10
  • Registered as DKNF 364 ApS
  • Jens Buhl Jørgensen appointed board member
  • Ian Godfrey appointed board member
  • Michael Daxer appointed director
  • Michael Daxer appointed board member
  • Derek Fawcett appointed deputy chair
  • Bernhard Schick appointed director
  • Bernhard Schick appointed chair of the board
  • Peter Friis appointed director
  • Ib Hagbarth appointed board member
  • Jens Buhl Jørgensen appointed director

Related companies

Same industry in Ballerup

See all →

Same people in management

Source and updates

The information comes from the Danish Central Business Register (Danish Business Authority) and from annual reports filed with the Danish Business Authority. Last synchronised 24/10/2026.

View in CVRReport a correction