HEMPEL A/S
HEMPEL A/S is a Denmark-based coatings company that develops, manufactures and sells protective coatings, marine coatings and decorative paint systems. Its products are used to protect and finish assets in marine, energy, infrastructure and building applications through a global network of operating companies and manufacturing sites.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenueCoatings for ship hulls, cargo vessels and marine maintenance applications.
Industrial coatings that protect steel and concrete structures from corrosion and wear.
Architectural paints and finishes for residential and commercial buildings.
High-performance coatings for energy, transport and infrastructure assets.
Customers
Hempel sells to shipowners, shipyards, offshore operators and marine maintenance customers that need coatings to reduce corrosion, fouling and downtime. It also serves industrial asset owners, infrastructure contractors and distributors in architectural markets that buy coatings for protection, durability and appearance. The customer base is tied to large installed assets and recurring repainting or maintenance cycles.
Shipowners, operators and shipyards buying hull and maintenance coatings for performance and compliance.
Owners and contractors buying protective systems for steel, concrete and energy assets.
Retail, trade and distribution customers buying paints and finishes for buildings.
Customers buying specialist coatings for harsh environments and long-life asset protection.
Strategy
Hempel’s strategy centres on growing commercial business units through market share gains, product performance and value-based pricing. The report highlights priorities around higher sales prices, higher volumes, and continued launch of sustainable coating solutions, especially in marine and energy & infrastructure end markets. It is also building resilience in operations and supply chain risk management through climate adaptation, emergency preparedness and business continuity measures.
Scale and installed-base relevance support recurring demand and customer retention.
Customers and regulators increasingly favor lower-emission and recyclable solutions.
Climate and weather risks can disrupt production, R&D and supply continuity.
Geography
Hempel is headquartered in Denmark and operates through a global footprint of factories, R&D centres and sales companies. The annual report notes that 33% of its locations are in areas identified as high risk for flooding, which makes site resilience and continuity planning important parts of the operating model. Its business is therefore geographically diversified but exposed to climate, logistics and regulatory conditions across the countries where it manufactures and sells coatings.
Risks
Hempel faces exposure to climate-related physical risk, regulatory change and hazardous-material handling because its business depends on manufacturing sites, R&D centres and chemical formulations. It also faces standard coatings-industry risks such as raw material volatility, customer project timing, competitive pricing pressure and execution risk in global supply chains.
- Climate-related physical damage to sitesImpact: HighLikelihood: High
A significant share of locations sit in flood-risk areas and weather events can interrupt production.
Exposure: Factories and R&D centres
- Regulatory change tied to decarbonisation and chemicalsImpact: HighLikelihood: Medium
New environmental rules can require reformulation or process changes for current products.
Exposure: Product portfolio and manufacturing
- Raw material and supply chain volatilityImpact: MediumLikelihood: High
Coatings depend on petrochemical and specialty inputs that can move quickly in price or availability.
Exposure: Procurement and production planning
- Hazardous materials and environmental complianceImpact: MediumLikelihood: High
Coatings operations involve VOCs, waste and handling requirements that increase compliance burden.
Exposure: Manufacturing and distribution
Accounting
Judgemental itemsInterest rate swaps and FX derivatives are measured at fair value and can move earnings and equity.
Impact: Reported finance income/expense and OCI can fluctuate with market rates
Coatings operations can create cleanup, compliance and legal obligations that require estimates.
Impact: Affects operating expenses and balance sheet reserves
Factories, R&D centres and acquired intangibles must be tested when conditions change.
Impact: Can create non-cash write-downs and affect segment profitability
Portfolio changes and related costs alter comparability of revenue and margins between periods.
Impact: Distorts trend analysis if not adjusted
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Last updated: 24/10/2026