Annual Report: New CEO to Bring Roust Element Back to Its Core Business
Poor project choices have resulted in a significant loss for the southwestern Danish element manufacturer Roust Element in the past financial year. However, with new leadership and extensive changes to procedures and the organization, there are already visible signs that the tide is turning.
Roust Element, based in the southwestern town of Roust, has just released its 2024 annual report. The figures show that the element manufacturer had a tough 2024. Roust Element reported revenue of DKK 136 million in 2024, which is 18 percent lower compared to 2023. The result after tax was a loss of DKK 32 million.
According to Holger C. Hansen, Group CEO of Nordic Wood Industries – the owner of Roust Element – the downturn is primarily due to the company having moved too far away from its core business.
“Roust Element has faced particular challenges after taking on large, complex projects that overwhelmed its production and engineering departments, leading to significant additional costs—as reflected in the financials. We conducted a thorough evaluation of the situation and decided to refocus Roust Element on its core business. In that context, we’ve appointed a new CEO who we believe is well-suited for the task,” says Holger C. Hansen.
He also shares that in early June 2025, the owners injected DKK 20 million in new capital to strengthen Roust Element’s financial foundation and support its continued growth.
Slowing Down and Raising Quality
The new CEO of Roust Element, Steffen Kremmer, took office in the spring and has already begun implementing necessary changes. Among other things, he has introduced a formal “bid review board” where technical and commercial evaluations ensure that only suitable projects are accepted.
“We need to be selective. Too many large and complex projects at once have put pressure on the organization. We’ve slowed down the pace and raised the quality—and it’s already working,” says Steffen Kremmer.
The 62-year-old Steffen Kremmer brings many years of experience from the construction industry, including 14 years in the management of MT Højgaard, where he was involved in major international projects, five years as CEO of SKAKO Concrete A/S, and various board roles over the years.
“The foundation in Roust Element and the group is very solid. We just need to regain our balance and build on what we already do well. This isn’t about revolution—it’s about choosing the right projects, creating stability, and focusing on our core competencies,” he says.
Stability First – Growth After
According to Holger C. Hansen, the first half of 2025 at Roust Element will be focused on stabilization. In the second half, the management expects to see the results of the new direction begin to materialize.
“We’ve brought in strong talent and, with Steffen’s help, structured things properly. Steffen is highly competent in project-based business and has already developed procedures that will help Roust Element realize its significant growth potential. The outlook is promising. Once we’ve regained stability, we’ll be in a position to grow—but it must be in a healthy and controlled way,” says Holger C. Hansen.
Going forward, Roust Element will focus on areas where the company has the most strength and experience—particularly prefabricated roof and wall elements in wood. Large, complex construction projects will only be taken on if they fit the company’s capabilities.
“We need to play to each other’s strengths and use the skills we have. And we have the advantage of being part of Nordic Wood Industries, which gives us a strong support system and great people to collaborate with. That provides security and opens up opportunities for long-term development,” says Steffen Kremmer.
Customer Loyalty Remains Strong
Despite the challenges, Roust Element continues to see strong demand and high customer loyalty. This is due in no small part to the company’s strong focus on wood-based and more climate-friendly solutions—an area where many developers are increasingly seeking alternatives to traditional building materials.
“We have a lot to offer and many great customers—both existing and new. We just need to tell our story properly and deliver the quality we’re known for. And that’s exactly what we’re doing,” concludes Steffen Kremmer.