Annual report 2022 - Report - Page 6
When change
becomes the norm
6 Annual Report 2022
Welcome to Horten’s annual
report for 2022 and a peek inside
our company. This is the second
time we have used the annual
report as an opportunity to say
more about who Horten is and
what we do. Thank you for
reading it.
2022 has been a year of uncertainty,
change and transition.
in the legal sector, where demand has
been more subdued than in previous
years.
However, things have gone better than
many feared as the year has unfolded.
There has been decent activity – especially
in the final months of the year, which has
seen more optimistic economic
expectations that have continued into early
2023.
around us, providing advice to private
companies and public authorities. We
therefore follow the development trends
that will have a major impact on
companies, organisations and people in
the future with great interest. We also
believe we have relevant expertise to
offer, based on our many years of
experience in tightly regulated areas such
as energy, utilities and new technology.
Internally, we are proud that partner Lise
Lotte Hjerrild continues to play an
important role in the International Bar
Association, as a member of IBA’s
Management Board and as Chair of
World Women Lawyers. She helps here,
at international level, to bring focus to
diversity and equality in the legal
profession, which is admittedly not at the
forefront of this agenda.
In January 2022, Denmark and the rest of
the Western world emerged from the
shadow of two years of pandemic, and
people were ready to be social, hold
conferences, travel and open up society
again. But on 24 February, Russian forces
moved into Ukraine, marking a turning
point for Europe. Russia’s unjustified war
against Ukraine and its people is first of
all a human tragedy. It is also having a
serious impact on the economy. The war
has triggered an energy crisis, with major
extra expenses for businesses and
citizens. Companies doing business in
Russia have had to wind down their
activities in haste. On top of this, high
inflation and interest rates followed in the
wake of the huge assistance packages
during the pandemic, along with price
drops in the financial markets.
Efterhånden som året har foldet sig ud, er
det imidlertid gået bedre, end mange
frygtede, og der har været en pæn aktivitet
- især i årets sidste måneder, som har
været præget af en anderledes optimistisk
økonomisk forventning, der er fortsat ind
i starten af 2023.
It was suddenly a completely different
business climate, and many started talking
about a recession. The uncertainty and
negative expectations have also been felt
Transition and new paths
Horten has undergone a kind of business
succession in recent years. There has
been a net reduction in the number of
equity partners by three in 2022, and
nine within the last three years or so. We
said goodbye to attorney and partner
Finn Schwarz at the end of 2022. Finn has
been part of Horten for more than 35
years, including as managing partner and
a member of the board. We would like to
take this opportunity to thank him for his
contribution.
Megatrends are indicators of what we
can and must be ready for as a company.
Horten is greatly influenced by society
In light of this, we are pleased to have
been able to maintain revenue at the
The year has also focused on the need to
accelerate the green transition, and there
is again focus on defence and security as
key areas in society. The West has closed
ranks around its common values, and
seems to have a stronger alliance than
has been seen for a long time.
Fortunately, this is helping to accelerate
megatrends such as ESG and
digitalisation across national cultural
differences between countries in the
Western world.