Nyab increased turnover and profit

Nyab, founded in Luleå and now partly Finnish, continues its strong growth.

Revenue in the first half of the year totaled EUR 104.5 million, compared with EUR 73.2 million in the first half of last year. The operating result (EBIT) was EUR 2.0 million compared to EUR 1.3 million last year.

Free cash flow amounted to EUR 9.3 million, compared to minus EUR 8.3 million in the same period last year.

"Great outcome in Q2 despite macroeconomic headwinds, we had significant growth, improved margins and very positive cash flow," said Johan Larsson, CEO of Nyab, in a comment.

Although he warns about the uncertainty in the short term, he believes the company will continue to grow and be profitable.

"We see no signs of shifting long-term trends as the amount of planned large-scale investments in both Finland and Sweden is growing rapidly, which maintains the positive long-term outlook positive for our operations. To enable future growth, we have during the second quarter continued to develop and optimize our organization and further strengthened our Executive Management", writes Johan Larsson in the half-year report.

Nyab was founded in Luleå by Johan Larsson. The current Nyab was formed when the Luleå company was acquired by the Finnish Skarta Group in a share exchange transaction just over a year ago. 

Lennart Håkansson

editor@northswedenbusiness.com