Published 16 apr 2024

Nimlas Group is growing rapidly and is now the fourth largest installation group in the Nordics

Nimlas Group grew significantly during 2023. The acquisition of the Norwegian group Konstel laid the foundation for a new Nordic platform in the installation industry. In Nimlas' existing markets, the expansion continued with several acquisitions in electrical operations in Sweden and a number of service-oriented companies in Finland. In Norway, the expansion within the electrical segment continued. In 2023, Nimlas achieved a pro forma turnover of SEK 8 billion, and the ambition is to continue growth within existing markets and disciplines.

Nimlas' long-term goal is to grow the business to a turnover of SEK 12 billion with an EBITA margin of at least 10 percent over the coming years. Growth will occur both organically and through the acquisition of well-managed profitable companies, led by skilled local entrepreneurs who, with a large mandate, want to continue developing their companies with the support of a larger organisation.

-          The strength of Nimlas' strategy lies in the decentralised model with local entrepreneur-driven companies with full responsibility for their business, combined with the advantages of being part of a larger group, says Mikael Matts, CEO of Nimlas Group.

In 2023, Nimlas has proven that the strategy works even in a tougher market. Pro forma turnover increased by 58 percent to SEK 8 billion, making Nimlas the fourth largest installation group in the Nordics. At the same time, profitability has strengthened and the adjusted EBITA margin, pro forma, was 6.9 percent, compared to 6.2 percent in 2022.

-          I am so proud of our development during the year and that we continue to grow. With our successful business model along with our sustainability ambitions, I am convinced that we are well on our way to becoming the most profitable installation group in the Nordics, continues Mikael Matts.

Today, Nimlas Group AB has published its annual report and sustainability report for the fiscal year 2023. This marks the second full operational year for the Nordic installation group, which was founded in 2021. Further information: https://www.nimlasgroup.com/finance