Nimlas Group announces a successful 2022 and a strong start to 2023

Nimlas Group, which was established in 2021, is reporting strong results for its first full year of operation. These results (Pro Forma) are based on the strong performance and growth rates of the Swedish installation group Sandbäckens and the Finnish installation group QMG. At the end of December, Nimlas also announced the acquisition of the Norwegian electrical installation group, Konstel. This transaction was completed in early February 2023.

Despite a turbulent environment, Nimlas´ Nordic companies had a stable financial year with strong growth and good profitability. All countries have continued on an aggressive growth trajectory that increased Nimlas’ sales from 2021 by 32 % (75 % including Konstel).

In 2022, Nimlas reached sales of MSEK 5,067 and an EBITA of MSEK 315 (6.2%). With Konstel included for 2022, sales were MSEK 6,733 MSEK and EBITA MSEK 471 (7.0%). The group currently has more than 3,500 employees in more than 100 companies in Norway, Sweden, and Finland.

Comments from the CEO

2022 has been a very eventful and successful year for Nimlas Group. Our businesses have handled the uncertain market developments well, with a transition from the production of new housing to renovation and extension projects, primarily in the public sector.

During the year, we warmly welcomed another 20 or so companies to Nimlas. These represent both acquisitions and greenfield investments and offer installations and services in the disciplines of heating & sanitation, electricity, ventilation, automation, cooling, fire protection, and related services such as alarm/security, and design/construction.

As a group, Nimlas has taken several important steps in its development. We have adopted and implemented the group’s governance model and sustainability strategy together with essential policies and processes.  We have also decided on the group’s strategy for the coming years. A major focus of this will be a continuation of our aggressive growth journey towards creating a multidisciplinary player in all our countries. At the same time, we will become a leader in the property technology of the future by strengthening, and being at the forefront of, the green transition.

I am proud to be able to present Nimlas’ first annual report and associated sustainability report, and I would like to take this opportunity to thank all employees for their excellent efforts and contributions in 2022 – our first year as a joint full-year company.

We are now ready to take the next step in achieving our long-term goal of becoming the leading and most profitable installation group in the Nordic region with sales of MSEK 10,000.

The outlook for 2023 is good

The market for technical installations and building services is highly fragmented and specialised. Expertise is in high demand and has an important contribution to make to the green transition in the Nordic region. The demands on the construction and property industry are high, with technical installations playing a key role in meeting the ambitious targets they need to achieve.

We have set ourselves ambitious goals in an uncertain time, but I feel confident that we will achieve them. Nimlas has an attractive business model with a strong and committed co-ownership. Our local MDs have great freedom to run and develop their businesses while receiving significant support and benefiting from the group’s synergies. We operate in an industry of the future with high demand for our services and the expertise of our companies and employees is high. I am very proud of what we have been able to achieve together so far, and I look forward to increasing the pace in our journey towards becoming the Nordic region’s leading technical installation and building services company.

Mikael Matts, President/CEO Nimlas Group AB
Phone: +46 76 850 16 03

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