June 5, 2024

Company to Watch: Axcel-backed Phase One A/S reports strong 2023 financials amidst ongoing sales explorations - revenues of DKK 453m (+19% YoY) with an EBITDA of DKK 106m in FY23

Press Release
Phase One A/S, the hardware division of the Danish camera company, which has been majority-owned by Axcel since 2019, reports strong financial results for 2023. The firm, which had previously experienced fluctuating financial outcomes, achieved a turnaround in 2023 with revenues reaching DKK 453m (+19% YoY) and an EBITDA of DKK 106m, up from DKK 43m in FY22. This increase was primarily driven by a lower cost of sales relative to revenue, as Phase One A/S did not face the same market volatility and supply chain disruptions that affected it in 2022, according to the 2023 report. The group plans to continue investing in the development and knowledge of its products, targeted distribution systems, and potential new strategic partnerships. Based on these plans, the group expects approximately 14-18% revenue growth in 2024 and a corresponding increase in profitability. The William Blair-led sale process for the camera hardware business of Axcel-owned Phase One was first and exclusively fea
Transaction announcement
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February 27, 2024

Update: The William Blair-led sale process for the camera hardware business of Axcel-owned Phase One Group has reached the second phase with NBOs having been submitted in mid-February (NKP Proprietary)

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NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
September 8, 2023

Company to watch: Axcel is in preliminary exit preparations for the camera (hardware) part of Phase One Group, a Danish integrated software/hardware photography solutions provider, with advisor discussions ongoing, acc. to sources - EBITDA of DKK 43m in FY22 (NKP Proprietary)

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Early coverage by NKP | M&A Insights (headline)

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