Seven new customers and 800 million liters of purified water in 2022 resulted in our best annual results ever.
Like many other companies, the end of the pandemic has been noticeable at Mivanor. However, it is now heading towards brighter times.
2022 was a record year, with revenue reaching 22.3 million Norwegian kroner and a profit of 4.73 million kroner. This represents a significant increase from 2020 when revenue was 8.6 million kroner.
Since 2021, there has been an increase in revenue of over 9 million kroner and a seventeen-double increase in profit compared to 2021 when it was 253,000 kroner.
Prepared for Further Growth
- These numbers are, of course, exciting to see, but they primarily serve as proof that we have managed to deliver solid results for our customers. The pandemic years were challenging, and this is evidence that we have worked correctly and purposefully to position ourselves and our industrial water purification solution, says Robert Tarasz, CEO and Technical Manager at Mivanor.
In 2022, Mivanor acquired seven new customers and purified a total of 800 million liters of water — almost equivalent to the daily water exchange of an Olympic-sized swimming pool, which holds 2.5 million liters, every day of the year.
Despite having “only” three employees during this period, Mivanor secured several new important partnerships and customers, including the billion-dollar conglomerate Franzefoss, Nordic Bulk, as well as key players in the waste and recycling industry and long-established family businesses.
- It shows that our technology is uniquely applicable to both giant corporations and smaller businesses, Tarasz believes.
He believes that everything is set for Mivanor to continue its growth: with a brand new version of the MivaMagTM MKIII technology, an expanding customer base in new segments, and an aggressive approach to simplifying water purification for customers in various industries, faced with diverse environmental requirements, he believes that 2023 will continue to mark a turning point for the company.
The company has focused on assisting salmon slaughterhouses and other businesses subject to IED requirements in meeting the water purification standards set by the EU.
- Much is going according to plan. We are continuing to expand our team throughout the summer, and we are receiving very positive feedback from customers in many different industries. The latest version of MivaMag has recently been launched and is doing exactly what it is supposed to do, and more, says Tarasz.
Aiming to Be the Top Choice for Water Purification
MivaMagTM MKIII was developed to handle various purification processes and offer even greater flexibility than before. Tarasz believes that versatility for a wide range of customer segments is a crucial part of the recipe for success.
He also believes that Mivanor has a lot to offer compared to large global water purification suppliers. Feedback from customers indicates that both the company and the MivaMagTM purification solution are flexible and versatile. The driving idea is a technology solution that is easier to both install and operate.
- We benefit greatly from being a compact and flexible team with a compact and flexible purification solution with many applications. Our goal is to make water purification simple, and with the volume of environmental requirements that many businesses are now facing, Mivanor becomes a valuable partner for various industries, says Tarasz, adding:
- We aim to be the top choice for industrial water purification and will continue to put in a solid effort to ensure that we achieve just that.