Itw Gse ApS
Private limited companyCVR 74218814Odense NActive
Itw Gse ApS is a private limited company, based in Odense N, active in manufacture of electric motors, generators and transformers, founded in 1984. Net profit rose 10% from 2024 to 2025, ending at DKK 146.8m. Measured by gross profit, it ranks no. 2 of 29 companies in the industry in the database. Profit has grown three years in a row.
Key figures · financial year 2025
RevenueDKK 752m+10.9% vs. 2024
Net profitDKK 146.8m+9.9% vs. 2024
EquityDKK 268.8m−1.2% vs. 2024
Employees118latest month from CVR
What has changed
calculated from recorded figures and datesFinancials: 2025 against 2024
- Gross profit rose 12% (2024 → 2025), to DKK 280.2m.
- Revenue rose 11% (2024 → 2025), to DKK 752m.
- Net profit rose 10% (2024 → 2025), to DKK 146.8m.
- Equity fell 1% (2024 → 2025), to DKK 268.8m.
Employees
- 18 more employees than a year earlier: 118 (07/2026) against 100 (07/2025).
Registrations, last 24 months
- 01/01/2025: Industry changed to Manufacture of electric motors, generators and transformers (271100)
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 thousandEquity and net profit
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change | |
|---|---|---|---|---|---|---|---|
| Revenue | 304,598 | 374,518 | 410,975 | 506,018 | 678,344 | 751,982 | +10.9% |
| Gross profit | 92,160 | 118,612 | 112,496 | 145,709 | 250,175 | 280,199 | +12% |
| Operating profit (EBIT) | 41,965 | 67,015 | 53,304 | 78,091 | 171,773 | 189,435 | +10.3% |
| Profit before tax | 40,824 | 66,681 | 52,493 | 78,613 | 172,692 | 188,115 | +8.9% |
| Net profit | 32,330 | 52,965 | 40,384 | 61,400 | 133,533 | 146,761 | +9.9% |
| Total assets | 171,915 | 201,648 | 192,537 | 250,868 | 376,117 | 354,079 | −5.9% |
| Equity | 138,793 | 156,758 | 152,142 | 193,541 | 272,074 | 268,835 | −1.2% |
| Liabilities | 32,173 | 43,709 | 38,935 | 51,885 | 95,044 | 72,780 | −23.4% |
| Average number of employees | 75 | 66 | 71 | 77 | 85 | 100 | +17.6% |
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
Signals from the financial statements
calculated from the 2025 figuresProfit 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| Financial year | Period | Published | Figures for | Documents |
|---|---|---|---|---|
| 2025 | 01/01/2025 – 31/12/2025 | 20/04/2026 | The company | PDF not statedXBRL |
| 2024 | 01/01/2024 – 31/12/2024 | 11/04/2025 | The company | PDFXBRL |
| 2023 | 01/01/2023 – 31/12/2023 | 07/04/2024 | The company | PDFXBRL |
| 2022 | 01/01/2022 – 31/12/2022 | 23/03/2023 | The company | PDFXBRL |
| 2021 | 01/01/2021 – 31/12/2021 | 06/04/2022 | The company | PDFXBRL |
| 2020 | 01/01/2020 – 31/12/2020 | 23/04/2021 | The company | PDFXBRL |
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 CVRPosition in the industry
29 companies in the databaseComparison with the other companies in manufacture of electric motors, generators and transformers based on the latest financial year.
Gross profitDKK 280.2mNo. 2 of 29
Better than 96% of the companies in the industry
EquityDKK 268.8mNo. 2 of 29
Better than 96% of the companies in the industry
Number of employees118No. 4 of 29
Better than 89% of the companies in the industry
Industry median: gross profit DKK 5.2m, net profit DKK 318k, equity DKK 5m, 13 employees.
Compared with similar companies
size, age and company form| Group | Gross profit | Equity |
|---|---|---|
| Companies with 50–199 employees4,467 companies in the comparison | No. 104of 4,412 Better than 98% | No. 262of 4,466 Better than 94% |
| Companies that are at least 30 years old10,276 companies in the comparison | No. 323of 10,152 Better than 97% | No. 614of 10,275 Better than 94% |
| All companies of type ApS66,508 companies in the comparison | No. 78of 66,379 Better than 100% | No. 437of 66,505 Better than 99% |
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
Manufacture of electric motors, generators and transformersGross profit
- Itw Gse ApSDKK 280.2m
- Linak A/SDKK 1.1bn
- PM Energi A/SDKK 114.6m
Net profit
- Itw Gse ApSDKK 146.8m
- Linak A/SDKK 272.5m
- PM Energi A/SDKK 27m
Equity
- Itw Gse ApSDKK 268.8m
- Linak A/SDKK 2.6bn
- PM Energi A/SDKK 94.5m
Employees
- Itw Gse ApS118
- Linak A/S1,180
- PM Energi A/S132
Latest financial year per company. Choose up to three companies from the largest in the industry.
Owners and group
from the Public Ownership RegisterOwners
- Itw Denmark ApS100%
Itw Gse ApS
Management
8 active registrationsExecutive management
| Name | Role | Appointed |
|---|---|---|
| Poul Laursen Elvstrøm | CEO | 08/03/2023 |
Board of directors
| Name | Role | Appointed |
|---|---|---|
| Bo Vork Nielsen | Deputy board member | 28/04/2015 |
| Rasmus Bøgh Jørgensen | Board member | 04/11/2015 |
| Lars Storm | Board member | 13/03/2019 |
| Rene Eskelund Hansen | Deputy board member | 13/03/2019 |
| Poul Laursen Elvstrøm | Board member | 08/03/2023 |
| Manoela Pereira Fry | Chair of the board | 08/03/2023 |
| Monique Martins | Board member | 08/03/2023 |
Former management (28)
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| Jørgen Skaadstrup Jørgensen | Board member | 02/01/1984 | 12/12/1990 |
| Bent Vilhelm Hansen | Board member | 02/01/1984 | 01/12/2000 |
| Bo Stenstrøm Kristiansen | Director | 02/01/1984 | 22/11/1988 |
| Kjell Giverholt Åkerman | Board member | 02/01/1984 | 18/06/2007 |
| Kjell Giverholt Åkerman | Director | 02/01/1984 | 01/12/2000 |
| Flemming Kjærulf Rasmussen | Chair of the board | 02/01/1984 | 12/12/1990 |
| Vagn Thorup | Board member | 01/12/2000 | 03/05/2016 |
| Henrik Olsson | CEO | 01/12/2000 | 08/03/2023 |
| Ernest Scott Santi | Chair of the board | 01/12/2000 | 16/03/2005 |
| Daniel Lee Downey | Board member | 01/12/2000 | 31/01/2006 |
| Jan Berg Nielsen | Board member | 06/04/2001 | 12/04/2003 |
| Hans Kristen Pedersen | Deputy board member | 06/04/2001 | 12/04/2003 |
| Lars Storm | Board member | 06/04/2001 | 04/11/2015 |
| Jørgen Andersen | Board member | 27/04/2001 | 18/06/2007 |
| Bent Poulsen | Deputy board member | 12/04/2003 | 18/06/2007 |
| Søren Clausen | Board member | 12/04/2003 | 18/06/2007 |
| Bent Hess | Deputy board member | 12/04/2003 | 27/04/2015 |
| William Joseph Sullivan | Chair of the board | 16/03/2005 | 03/09/2013 |
| Jan Westphal Vigsø Sørensen | Board member | 18/06/2007 | 04/11/2015 |
| Bo Vork Nielsen | Deputy board member | 18/06/2007 | 27/04/2015 |
| Henrik Olsson | Chair of the board | 03/09/2013 | 14/03/2018 |
| Mary Ann Spiegel | Board member | 03/09/2013 | 02/08/2019 |
| Bent Hess | Deputy board member | 28/04/2015 | 13/03/2019 |
| Jan Berg Nielsen | Board member | 04/11/2015 | 13/03/2019 |
| Birgit Andersen | Board member | 03/05/2016 | 14/03/2018 |
| Henrik Olsson | Board member | 15/03/2018 | 08/03/2023 |
| Birgit Andersen | Chair of the board | 15/03/2018 | 08/03/2023 |
| Manoela Pereira Fry | Board member | 02/08/2019 | 07/03/2023 |
Signing rule: Selskabet tegnes af en direktør i forening med et bestyrelsesmedlem eller af bestyrelsesformanden i forening med et medlem af bestyrelsen.
Address and production units
1 active production unitsSmedebakken 31
5270 Odense N
| Production unit | Address | Employees | P number |
|---|---|---|---|
| ITW GSE ApS | Smedebakken 31-33, Søhus, 5270 Odense N | 119 | 1001632799 |
Purpose
Selskabets formål er produktion og handel inden for den elektroniske branche samt hermed beslægtet virksomhed
The purpose is quoted from the register in Danish.
Changes year by year
85 registered events82015
22016
02017
52018
62019
02020
12021
12022
92023
12024
22025
12026
20261 changeaccounts 1
- AccountsAnnual report for 2025 published
20252 changesaccounts 1 · industry 1
- AccountsAnnual report for 2024 published
- IndustryIndustry changed to Manufacture of electric motors, generators and transformers (271100)
20241 changeaccounts 1
- AccountsAnnual report for 2023 published
20239 changesaccounts 1 · management 8
- AccountsAnnual report for 2022 published
- ManagementMonique Martins appointed board member
- ManagementManoela Pereira Fry appointed chair of the board
- ManagementPoul Laursen Elvstrøm appointed ceo
- ManagementPoul Laursen Elvstrøm appointed board member
- ManagementBirgit Andersen stepped down as chair of the board
- ManagementHenrik Olsson stepped down as board member
- ManagementHenrik Olsson stepped down as ceo
- ManagementManoela Pereira Fry stepped down as board member
20221 changeaccounts 1
- AccountsAnnual report for 2021 published
20211 changeaccounts 1
- AccountsAnnual report for 2020 published
20196 changesmanagement 6
- ManagementManoela Pereira Fry appointed board member
- ManagementMary Ann Spiegel stepped down as board member
- ManagementRene Eskelund Hansen appointed deputy board member
- ManagementLars Storm appointed board member
- ManagementJan Berg Nielsen stepped down as board member
- ManagementBent Hess stepped down as deputy board member
20185 changesname 1 · management 4
- NameName changed from AXA POWER ApS to ITW GSE ApS
- ManagementBirgit Andersen appointed chair of the board
- ManagementHenrik Olsson appointed board member
- ManagementBirgit Andersen stepped down as board member
- ManagementHenrik Olsson stepped down as chair of the board
20162 changesmanagement 2
- ManagementBirgit Andersen appointed board member
- ManagementVagn Thorup stepped down as board member
20158 changesmanagement 8
- ManagementJan Berg Nielsen appointed board member
- ManagementRasmus Bøgh Jørgensen appointed board member
- ManagementJan Westphal Vigsø Sørensen stepped down as board member
- ManagementLars Storm stepped down as board member
- ManagementBo Vork Nielsen appointed deputy board member
- ManagementBent Hess appointed deputy board member
- ManagementBo Vork Nielsen stepped down as deputy board member
- ManagementBent Hess stepped down as deputy board member
20133 changesmanagement 3
- ManagementMary Ann Spiegel appointed board member
- ManagementHenrik Olsson appointed chair of the board
- ManagementWilliam Joseph Sullivan stepped down as chair of the board
20081 changeindustry 1
- IndustryIndustry changed to Manufacture of electric motors, generators and transformers (271100)
20077 changesmanagement 6 · industry 1
- ManagementJan Westphal Vigsø Sørensen appointed board member
- ManagementBo Vork Nielsen appointed deputy board member
- ManagementSøren Clausen stepped down as board member
- ManagementBent Poulsen stepped down as deputy board member
- ManagementJørgen Andersen stepped down as board member
- ManagementKjell Giverholt Åkerman stepped down as board member
- IndustryIndustry changed to Fremstilling af elmotorer og -generatorer (311010)
20061 changemanagement 1
- ManagementDaniel Lee Downey stepped down as board member
20053 changesownership 1 · management 2
- OwnershipITW DENMARK ApS registered as owner (100%)
- ManagementWilliam Joseph Sullivan appointed chair of the board
- ManagementErnest Scott Santi stepped down as chair of the board
20035 changesmanagement 5
- ManagementBent Hess appointed deputy board member
- ManagementSøren Clausen appointed board member
- ManagementBent Poulsen appointed deputy board member
- ManagementHans Kristen Pedersen stepped down as deputy board member
- ManagementJan Berg Nielsen stepped down as board member
20018 changesname 1 · management 4 · industry 1 · capital 1 · merger 1
- NameName changed from AXA POWER A/S to AXA POWER ApS
- ManagementJørgen Andersen appointed board member
- IndustryIndustry changed to Fremstilling af transformatorer og omformere (311030)
- CapitalShare capital changed from 3,000,000 DKK to 8,000,000 DKK
- ManagementHans Kristen Pedersen appointed deputy board member
- ManagementLars Storm appointed board member
- ManagementJan Berg Nielsen appointed board member
- MergerMerger registered in CVR
20006 changesmanagement 6
- ManagementDaniel Lee Downey appointed board member
- ManagementErnest Scott Santi appointed chair of the board
- ManagementHenrik Olsson appointed ceo
- ManagementVagn Thorup appointed board member
- ManagementBent Vilhelm Hansen stepped down as board member
- ManagementKjell Giverholt Åkerman stepped down as director
19941 changecapital 1
- CapitalShare capital changed from 750,000 DKK to 3,000,000 DKK
19931 changecapital 1
- CapitalShare capital changed from 500,000 DKK to 750,000 DKK
19902 changesmanagement 2
- ManagementFlemming Kjærulf Rasmussen stepped down as chair of the board
- ManagementJørgen Skaadstrup Jørgensen stepped down as board member
19884 changesname 1 · capital 2 · management 1
- NameName changed from ATTRAKTIV HANDEL & INVESTERING ApS to AXA POWER A/S
- CapitalShare capital changed from 280,000 DKK to 500,000 DKK
- ManagementBo Stenstrøm Kristiansen stepped down as director
- CapitalShare capital changed from 80,000 DKK to 280,000 DKK
19847 changesfounded 1 · management 6
- FoundedRegistered as ATTRAKTIV HANDEL & INVESTERING ApS
- ManagementBent Vilhelm Hansen appointed board member
- ManagementFlemming Kjærulf Rasmussen appointed chair of the board
- ManagementKjell Giverholt Åkerman appointed director
- ManagementJørgen Skaadstrup Jørgensen appointed board member
- ManagementKjell Giverholt Åkerman appointed board member
- ManagementBo Stenstrøm Kristiansen appointed director
Related companies
Same people in management
- Metro Service A/Svia Vagn Thorup
- WSP Danmark A/Svia Vagn Thorup
- Andel Energi A/Svia Vagn Thorup
- Microsoft Development Center Copenhagen ApSvia Vagn Thorup
- Totalkredit A/Svia Vagn Thorup
- Kone A/Svia Vagn Thorup
Largest in the industry
- Linak A/SDKK 1.1bn
- PM Energi A/SDKK 114.6m
- Ec Power A/SDKK 63.1m
- Baettr Sales & Services A/SDKK 46.1m
- Danisense A/SDKK 37.1m
- Baettr Lem A/SDKK 26m
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.