Kamstrup A/S Due Diligence

Run due diligence on Kamstrup A/S: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by OK A.M.B.A. (Denmark) · www.kamstrup.com · 18 vendors

Kamstrup is a Danish technology company specialising in smart metering solutions for energy and water utilities. The company develops and manufactures intelligent meters, data communication systems, and software for electricity, heat, cooling, and water measurement. Kamstrup serves utility companies and submetering markets globally, helping them optimise resource management and improve operational efficiency.

Resilience scores

Technology vendors

Services catalogue

5 services in catalogue across 3 categories; runs on 18 sub-vendors.

Insights

Last updated 2026-09-13 · revision 17

18 direct vendors, 199 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

9 in-scope frameworks identified; showing 3.

Cyber Resilience Act (source) — No public evidence

Evidence: https://www.kamstrup.com/en-us/about-us/data-security, https://www.kamstrup.com/en-en

GDPR (source) — Evidence found

Evidence: https://www.kamstrup.com/en-us/about-us/data-security, https://www.kamstrup.com/en-us/about-us/privacy-policy, https://www.kamstrup.com/en-en

ISAE 3000 (source) — No public evidence

Evidence: https://www.kamstrup.com/en-us/about-us/data-security

Financials

Three-year financials

Financial Resilience Score: 8/10

Kamstrup A/S demonstrates strong financial resilience as a financially healthy, cooperatively-owned Danish 'hidden champion' in smart metering. The company has achieved steady double-digit top-line growth (approximately 10% CAGR from 2021-2023) and maintains a solid equity ratio historically in the 40-50% range. Its ownership by OK a.m.b.a., a Danish consumer cooperative, provides a stable, patient capital base without PE-style leverage or short-term exit pressure, allowing reinvestment of profits into growth initiatives. The company benefits from structural end-market tailwinds including EU water-loss regulation, district-heating expansion, submetering mandates, U.S. AMI roll-outs, and grid electrification. Its installed base of 15-20 year meter assets generates recurring aftermarket software (READy, OMNIA) and service revenue. Market leadership in ultrasonic metering for district heating and water in Europe, combined with a top-3 global position in smart-water metering, provides competitive moat. However, EBIT margins have trended down from ~13-14% in 2021 to ~9-11% in 2023, reflecting component-cost inflation (semiconductors), currency headwinds, and heavier R&D and North American commercial investment. Project lumpiness on large utility AMI contracts and cyber/regulatory exposure on critical infrastructure represent key watch items.

Key strengths: Market leadership in ultrasonic metering for district heating and water in Europe, Top 3 global smart-water metering vendor position, Structural tailwinds from EU water regulation, district heating, and AMI rollouts, Recurring revenue from 15-20 year installed base and software (READy, OMNIA), Stable cooperative ownership (OK a.m.b.a.) with no leverage pressure, Strong equity ratio historically 40-50%, Vertical integration with own manufacturing in Denmark and Poland, Consistent double-digit revenue growth (~10% CAGR)

Risk factors: Component and commodity cost exposure (semiconductors, brass/copper, plastics), EBIT margin compression from ~13-14% to ~9-11%, Project lumpiness and tender risk on large utility AMI contracts, Currency exposure (majority of sales outside Denmark in EUR, USD, GBP, SEK, NOK), Cyber/data-security exposure on critical infrastructure, Concentrated ownership limits capital-markets access for M&A

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