HAY ApS
APSActiveCVR 26799945Havnen 3, 8700 HorsensWholesale of household, office and shop furniture, carpets and lighting equipment· NACE 4647Est. 2002 · 24 years old239 employees
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Overview
HAY ApS is a Danish APS based in Horsens, operating in the Wholesale of household, office and shop furniture, carpets and lighting equipment sector. Incorporated in 2002, the company has 239 employees and reported revenue of DKK 1.2bn in its latest annual filing.
Revenue 2025
1.2B DKK
0% vs 2024
EBITDA margin
13.2 %
+21% vs 2024
Net profit 2025
0.1B DKK
+20% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
71.0 %
StrongAmong the 30% highest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
3.0×
StrongAmong the 30% highest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
19.4 %
Very strongAmong the 20% highest rated companies in the industry
20212025
EBITDA — year on year
DKK millionsKey figures
Annual report 2025| Revenue | 1.2B DKK | 0% |
| EBITDA | 0.2B DKK | +21% |
| Net profit | 0.1B DKK | +20% |
| Total assets | 0.6B DKK | +11% |
| Equity | 0.4B DKK | +5% |
| Employees | 239 | — |
Company information
Legal name
HAY ApS
CVR number
26799945
Legal form
Anpartsselskab
Founded
20 September 2002 · 24 years
Share capital
DKK 4,500,000
Employees
239 (FTE)
VAT registered
Yes
Audit selected
Yes
Last report
2025-05-31
Financial year
January – December
Signatory rights
Selskabet tegnes af direktøren i forening med bestyrelsesformanden, af to bestyrelsesmedlemmer i forening eller af den samlede bestyrelse.
Company purpose
Selskabets formål er at drive virksomhed i ind- og udland inden for design og produktion af møbler, interiør og lys samt handel hermed og anden dermed i forbindelse stående virksomhed.
(no translation available)
Contact
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Financial development
In its most recent annual report (2025), HAY ApS reported revenue of DKK 1.2bn, broadly in line with the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net profit of DKK 112.9m, and the EBITDA margin stood at 13.2%.
At the end of 2025, equity financed 71% of the balance sheet, and current assets covered short-term debt 3 times.
Financials
Revenue
DKK millionsEBITDA
DKK millionsIncome statement
DKK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 1,219,263 | 1,215,587 | 1,358,614 | 1,477,684 | 1,189,541 |
| Staff expenses | -124,917 | -118,895 | -109,328 | -111,951 | -89,738 |
| EBITDA | 160,737 | 132,355 | 165,192 | 227,043 | 186,358 |
| Depreciation & amort. | -9,091 | -9,444 | -10,154 | -6,271 | -7,494 |
| EBIT | 151,646 | 122,911 | 155,038 | 220,772 | 178,864 |
| Net financials | -6,451 | 1,868 | -6,562 | -1,567 | 1,877 |
| Profit before tax | 145,195 | 124,779 | 148,476 | 219,205 | 180,741 |
| Tax | 32,275 | 30,526 | 33,821 | 48,540 | 39,752 |
| Net profit | 112,920 | 94,253 | 114,655 | 170,665 | 140,989 |
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Balance sheet
DKK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 582,056 | 523,823 | 493,239 | 590,021 | 475,772 |
| Equity | 413,369 | 394,922 | 358,669 | 347,979 | 309,473 |
| Long-term debt | 0 | 0 | 0 | 0 | 0 |
| Short-term debt | 167,826 | 128,231 | 134,343 | 242,042 | 166,299 |
| Total debt | 167,826 | 128,231 | 134,343 | 242,042 | 166,299 |
Financial ratios
5-year trendEBITDA margin
13.2 %
20212025
Equity ratio
71.0 %
StrongAmong the 30% highest rated companies in the industry
20212025
Return on equity
27.3 %
StrongAmong the 40% highest rated companies in the industry
20212025
Net profit margin
9.3 %
Very strongAmong the 20% highest rated companies in the industry
20212025
Asset turnover
2.09×
StrongAmong the 40% highest rated companies in the industry
20212025
Debt / equity
0.41×
StrongAmong the 30% highest rated companies in the industry
20212025
Sector performance
28 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginStrong
Among the 40% highest rated companies in the industry
The gross result as a share of revenue — how much of the revenue is left after variable costs to cover the company's fixed costs.
Operating marginVery strong
Among the 20% highest rated companies in the industry
EBIT as a share of revenue — the share of revenue remaining as earnings once all operating costs are covered. A key measure of earning power.
Net profit marginVery strong
Among the 20% highest rated companies in the industry
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Return on equity (ROE)Strong
Among the 40% highest rated companies in the industry
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on assets (ROA)Very strong
Among the 20% highest rated companies in the industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Return on net assets (RONA)Strong
Among the 40% highest rated companies in the industry
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Basic earning power (BEP)Very strong
Among the 20% highest rated companies in the industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioVery strong
Among the 20% highest rated companies in the industry
Shows how strongly fixed costs weigh on the gross result — a high ratio means fixed costs take only a small bite out of the earnings from basic operations.
Liquidity
Current ratioStrong
Among the 30% highest rated companies in the industry
Current assets relative to short-term debt — the ability to settle short-term obligations with current assets alone. Around 150% is considered satisfactory from a credit perspective.
Quick ratioStrong
Among the 30% highest rated companies in the industry
Current assets excluding inventory relative to short-term debt — whether the most liquid assets alone can cover the short-term obligations. A value of 1 or above signals a healthy liquidity position.
Cash ratioStrong
Among the 30% highest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityStrong
Among the 40% highest rated companies in the industry
Current assets relative to equity — an indicator of the balance-sheet structure and of the company's short- and long-term financing. The healthy level is highly industry-dependent.
Fixed assets to long-term capitalAverage
Around the average of companies in the same industry
Fixed assets relative to long-term capital (equity plus long-term liabilities). Below 100% means the long-term capital finances more than just the fixed assets — a healthier liquidity position.
Cash conversion ratioStrong
Among the 40% highest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioStrong
Among the 30% highest rated companies in the industry
Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.
Debt ratioStrong
Among the 30% highest rated companies in the industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Debt to equityStrong
Among the 30% highest rated companies in the industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityStrong
Among the 30% highest rated companies in the industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtVery strong
Among the 20% highest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtVery strong
Among the 20% highest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageStrong
Among the 30% highest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtVery weak
Among the 20% lowest rated companies in the industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginVery strong
Among the 20% highest rated companies in the industry
The return on assets minus the interest rate on debt. Positive means the company benefits from operating with debt; negative means the debt makes it worse off.
Efficiency & development
Asset turnoverStrong
Among the 40% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverAverage
Around the average of companies in the same industry
Revenue relative to inventory — how many times a year the inventory is sold and replaced. A low value can indicate weak sales or excess inventory.
Equity to contributed capitalVery strong
Among the 10% highest rated companies in the industry
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
One-year change in equityAverage
Around the average of companies in the same industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtWeak
Among the 30% lowest rated companies in the industry
The size of this year's increase or decrease in the company's debt.
Annual reports & filings
- Annual report 2025Filed via CVR / Virk · Period 2024-06-01 – 2025-05-31
- Annual report 2024Filed via CVR / Virk · Period 2023-06-01 – 2024-05-31
- Annual report 2023Filed via CVR / Virk · Period 2022-06-01 – 2023-05-31
- Annual report 2022Filed via CVR / Virk · Period 2021-06-01 – 2022-05-31
- Annual report 2021Filed via CVR / Virk · Period 2020-06-01 – 2021-05-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (2) | ||
JB Chief Executive Officer | Chief Executive Officer | 2023 |
RF Founder | Founder | 2002 |
Former (4)
HE Chief Executive Officer | Chief Executive Officer | 2017 – 2020 |
KM Management | Management | 2015 – 2016 |
JJ Chief Executive Officer | Chief Executive Officer | 2020 – 2021 |
TH Chief Executive Officer | Chief Executive Officer | 2021 – 2023 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (7) | ||
DF Board of Directors | Board of Directors | 2020 |
BB Board of Directors | Board of Directors | 2020 |
MH Board of Directors | Board of Directors | 2020 |
RT Board of Directors | Board of Directors | 2026 |
RF Board of Directors | Board of Directors | 2002 |
JM Chairman | Chairman | 2026 |
AR Board of Directors | Board of Directors | 2026 |
Former (8)
TH Chairman | Chairman | 2010 – 2019 |
CM Board of Directors | Board of Directors | 2023 – 2025 |
AR Chairman | Chairman | 2019 – 2026 |
JJ Board of Directors | Board of Directors | 2020 – 2021 |
MC Board of Directors | Board of Directors | 2021 – 2026 |
MB Board of Directors | Board of Directors | 2002 – 2006 |
SH Board of Directors | Board of Directors | 2013 – 2014 |
JJ Board of Directors | Board of Directors | 2018 – 2020 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
Herman Miller Holdings Limited | Company | 66.67–89.99% | 66.67–89.99% | 2019 |
| Company | 25–33.32% | 25–33.32% | 2018 | |
| Company | 33.33–49.99% | 33.33–49.99% | 2018 |
Beneficial ownership (UBO) data access is restricted in Denmark as of September 2025 per the EU 6th AML Directive. Learn more.
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Company hierarchy
HOLDINGSELSKABET AF 1/7 2007 ApS
HAY ApS (this company)Board network connections
Board members of HAY ApS also hold positions in 102 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Merete Bech Povlsen | Board of Directors | 43 companiesMany roles |
| Troels Holch Povlsen | Chairman | 37 companiesMany roles |
| Kristian Martin Ramm-Larsen | Management | 10 companiesMany roles |
| Rolf Foged Hvidegaard Hay | Founder | 5 companies |
| Mette Hjort Hay | Board of Directors | 4 companies |
| Henrik Ellebæk Steensgaard | Chief Executive Officer | 3 companies |
Frequently asked questions
What is the CVR number of HAY ApS?
HAY ApS is registered with CVR / Virk under CVR 26799945.
What is the revenue of HAY ApS?
HAY ApS reported revenue of DKK 1.2bn in 2025.
How many employees does HAY ApS have?
HAY ApS employs 239 people as of the latest annual report.
Who is the CEO of HAY ApS?
Jesper Brøndum Petersen is the CEO of HAY ApS, in role since 2023.
Who is the chairman of HAY ApS?
Jeffrey Martin Stutz chairs the board of HAY ApS, in role since 2026.
Where is HAY ApS headquartered?
HAY ApS's registered address is Havnen 3.