Martin Malmvik, CEO:

“The things I am most proud of are our colleagues, culture and leadership.”

Extracts from the Annual Review 2020

It is rare to experience and learn so many new things in one year. The global pandemic dictated the ground rules in 2020. Complete industries closed in the second quarter and re-opened in the third, with continuous re-adjustments throughout the year.

Our philosophy has been to stop at nothing. Finding new ways to proceed with our plans has led to success but more importantly, has taught us new and improved ways of working and interacting, which will continue to strengthen the group. We have successfully hired, onboarded and trained people as well as taken on new customers and suppliers and acquired companies, all this online. Service engineers have guided people in foreign countries through installation, service and maintenance jobs using VR ­technology. Who would have thought this one year ago? The things I am most proud of are our colleagues, culture and leadership.

The group’s market segments and geographies have developed differently, with fast shifts throughout the year. We have been challenged – that goes without saying. The sum of our diversified industries and geographical spread has however yet again proven to be strongly resilient. All in all, we have completed eight acquisitions with a yearly turnover of just over half a billion SEK on top of our organic achievements.

Our strategic direction has passed the test. The long-term focus on digitalisation, sustainability, and a learning organisation has prepared us well. Our decentralised leadership model has provided the speed and agility necessary to handle the complexity of 2020 with the best result in the history of our company.

The things I am most proud of are our colleagues, culture and leadership. With 150 companies in 30 countries, there are many people leading this versatile organisation, and our open and trusting culture has provided an important sense of security and belonging while sharing experiences as new situations have occurred.

Our strategy remains, and we have just realised how to get it done faster.