“Our strategic direction and structure continued to fuel growth and revenues in 2021. The results shows that we have built a resilient business, capable of managing through challenges brought by the pandemic, including a strong increase in raw material prices and shortage of steel hitting all industries last year. In early 2022 we are still managing these challenges together with an increasingly unstable political situation. The ability to adapt and transform in an agile manner continues to be critical”, says Saferoad Group CEO, Espen Asheim.
In 2021 the Group opened its new NOK 200m galvanisation plant in Poland on time and on budget. The plant is already performing well showing significant positive operational effects and will continue this in the years to come.
Market with strong underlying growth
“We again see the benefit of the new strategic direction as well an attractive market with stable growth due to increased focus on road safety across Europe. We grew revenues by 9%, and by keeping a consistent focus on managing through increased material prices achieved an EBITDA uplift of 5% during the year”, says Saferoad Group CFO Thomas Røkke.
A new long-term financing agreement was arranged for the Group in 2021, providing a solid financial platform for further development in the coming years.
“Acquisitions and consolidation will be increasingly important in our growth going forward. We have a strong financial platform and are well-positioned to expand further into new geographies and adjacent markets”, Espen Asheim concludes.