Nimlas and QMG present strong growth

Nimlas Group is now the fourth largest installation group in the Nordics with a pro forma turnover of SEK 8 billion. QMG, which is part of Nimlas in Finland, increased its pro forma turnover to 270 million euros in 2023.

Nimlas took a big growth step in 2023. The acquisition of the Norwegian Konstel group made Nimlas a truly Nordic installation group. Moreover, local acquisitions continued in Sweden, especially in electrical contracting, and in Finland in service business. Konstel also bought more local electrical contractors in Norway during the year.

Nimlas’ pro forma turnover reached 8 billion Swedish kroner, and the group’s long-term goal is to achieve a turnover of 12 billion kroner and a profit level of 10 percent (EBITA) in the next few years in the current market and in the current services.

– Our growth is both organic and through acquisitions. The companies we appreciate must be well managed, profitable and led by strong local entrepreneurs. In most cases, entrepreneurs remain in charge of their companies, Nimlas Group CEO Mikael Matts says.

– The strength of Nimlas’ strategy is in the decentralised management model, where local entrepreneur-led companies are fully responsible for their business operations, and the group provides them with strategic support, systems and procurement advantages, Mikael Matts adds.

In 2023, Nimlas’ strategy proved its strength, even though the market was more demanding. The group’s pro forma turnover grew from SEK 5 billion by 58 percent to SEK 8 billion, and profitability strengthened at the same time. Adjusted operating profit (EBITA) rose to 6.9 percent compared to 6.2 percent in the previous fiscal year.

– Nimlas Group is the fourth largest installation company in the Nordic countries, and our growth continues. Our goal is to become the most profitable installation group in the Nordics and a strong promoter of responsibility, Mikael Matts continues.

QMG made acquisitions, especially in the service business

QMG’s pro forma turnover in 2023 increased to 270.1 million euros from 245 million euros in the previous fiscal year. Operating profit was 6.9 percent (6.8% in 2022) The number of personnel also increased by 200 building technology professionals and was 1,500 at the end of the year.

During 2023, QMG made seven acquisitions and asset deals across a wide geographical area. Heating, sanitation and ventilation services were acquired in Kajaani, Kokkola, Turku and Vantaa, electrical contracting in Kuopio, Pyhäjoki, Raahe and Vaasa, fire safety in Pirkanmaa and the capital region, as well as energy efficiency services nationwide.

– According to the strategy of Nimlas and QMG, we strengthened our network, and we will continue to grow actively during 2024. Our selection is versatile, and it meets the needs of customers and users of buildings throughout the country. Our competitiveness can be seen both in significant projects and in the new service contracts we have received, says Tiina Koppinen, CEO of QMG.

Nimlas Group’s and QMG’s pro forma figures include the turnover and profit of the purchased companies for the entire fiscal year.

Nimlas Group has published its annual report for 2023, which includes a responsibility report. This was the second full year of operation as a Nordic building technology group, which was formed in 2021. The annual report is available in Swedish and English on the Nimlas website at www.nimlasgroup.com/finance.

Lisätietoja:

Tiina Koppinen, CEO, QMG, tiina.koppinen@qmg.fi, +358 40 350 2225

Tuula Haataja, CFO, QMG, tuula.haataja@qmg.fi, +358 40 544 6832

QMG in brief

QMG is one of Finland’s largest installation companies delivering projects and maintenance services nationwide. QMG’s range of services covers all aspects of technical installations. The group includes 47 subsidiaries across the country. In 2023, QMG’s turnover was EUR 270.1 million (pro forma). The group employs more than 1,500 professionals.

QMG, Swedish Sandbäckens and Norwegian Konstel form the Nordic Nimlas Group. The main owner of Nimlas is private equity company KLAR Partners. In addition, there are more than 500 personnel members in Nimlas Group’s ownership program. For more information, please check www.qmg.fi

Key information about Nimlas Group

Nimlas Group is a leading Nordic installation and technical property services group that employs approximately 4,000 professionals in more than 120 companies in Sweden, Finland and Norway.

Nimlas offers a wide range of projects and services. The selection covers, among others, heating and sanitation, ventilation, electrical, automation, refrigeration, refrigeration technology, fire safety as well as planning and security technology solutions. Nimlas has set its goal to be the most profitable installation group in the Nordic countries and a promoter of responsibility with a vision to be interesting for local companies and offer them the best growth environment. Nimlas Group’s turnover in 2023 was approximately SEK 8 billion (pro forma). For more information, please check www.nimlasgroup.com