Letter to our stakeholders
In a volatile market shaped by challenging macro conditions, we are pleased to report that the Group has achieved record-high financial performance. In 2024, we increased our market share in key markets and experienced robust organic growth.
Underlying operating revenue has surged by 12.6 per cent to NOK 7,584 million. Our underlying EBITDA has reached NOK 820 million for the year, with an underlying EBITDA margin of 10.8 per cent. Reported EBITDA stands at NOK 774 million, with a reported EBITDA margin of 10.2 per cent.
Our progress in 2024 was a result of a strong focus on execution of our strategic priorities across our organisation. The financial achievements lay the groundwork for our next phase of strategic growth and long-term value creation.
Driving strategic growth and long-term value
In the beginning of 2024, we launched a new Group strategy, moving beyond our Business Area strategies that have been executed well over the past years. The Group strategy provides a platform for scalable growth, setting clear ambitions and targeted initiatives across all Business Areas in Saferoad.
We are already seeing strong execution in line with the strategy, building a robust platform for sustainable expansion and long-term value creation. With a disciplined approach to operational excellence and strategic investments, we remain focused on enhancing our capabilities for sustained growth.
We will continue strengthening our market position through a combination of organic initiatives, product innovation, geographical expansion, but also pursuing strategic acquisitions and partnerships, to reinforce our leadership and deliver long-term value.
Enhancing stability and unlocking new opportunities
A key development in 2024 was the establishment of FSN Capital Confluence, a new continuation fund that provides Saferoad with a solid foundation to advance our growth strategy. FSN Capital V has been a dedicated partner since acquiring Saferoad in 2018, and under their stewardship, the Group has delivered strong results and nearly doubled EBITDA. The launch of FSN Capital Confluence ensures stability and creates opportunities to further develop our platform with the backing of a committed partner. This structure reinforces our ability to drive strategic initiatives and strengthens our position in the market.
Leveraging our brand equity
In 2024, several of our companies rebranded and joined the Saferoad brand. This strategic move has brought the company together, fostering a sense of unity and collaboration across our diverse operations. By presenting a cohesive brand identity, we are better positioned to serve our customers and stakeholders with consistency and excellence.
Advancing sustainability with impact and execution
In 2024, we advanced our sustainability strategy with a sharper focus on impact and execution. Against a rapidly changing ESG landscape in Europe, staying focused where it matters continues to be critical. We refined our Double Materiality Assessment and strengthened our understanding of sustainability across our value chain to better identify and prioritise the most material ESG topics.
We set ambitious GHG emissions reduction targets and will submit these to the Science Based Target initiative. Additionally, we enhanced sustainability reporting by implementing a Group-wide sustainability reporting system, to meet compliance requirements while enabling a data-driven approach to track and improve our sustainability performance.
Looking ahead with confidence
As we turn the page to a new chapter, we are cognisant of the rapidly evolving landscapes and emerging challenges. However, our strategic blueprint and the collective resolve of our over 2,700 employees stand as assurances of our preparedness to meet these challenges head-on. We are strategically positioned to extend our influence and persistently provide high-quality value to our customers.
Our robust order book fortified internal processes, and operational enhancements have streamlined efficiencies throughout the organisation, positioning us for consistent growth in sales and profitability margins.
Finally, we would like to thank our employees for their dedicated and engaged approach to new ways of working and servicing our customers. And we would like to thank our partners and customers for their loyalty and support.
We look forward to continuing our collaboration in 2025. To our stakeholders, we thank you for your continued trust in the Saferoad Group. Together, we will continue to grow and lead the way in more sustainable infrastructure and road safety.
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