NYAB increased revenue and improved earnings

Luleå The Luleå-based, listed Swedish-Finnish company NYAB increased its sales by just over 23 percent in 2024 compared to the previous year. Operating profit improved by 67 percent.

NYAB writes this in a year-end report.

Revenues for the full year 2024 amounted to EUR 346 million (SEK 3.9 billion), compared with EUR 280 million (SEK 3.1 billion) the year before. An increase of 23,4 percent.

Operating profit of €25.4 million (SEK 284 million) compared to €15.2 million (SEK 170 million) in 2023, an increase of 67%. The operating profit of €25.4 million represents 7.3 percent of revenue.

"During the year, we have been able to work effectively cross-border and have, as an example, benefited from using Finnish resources and expertise in Sweden. We also continued to strengthen our position in partnering, and the proportion of assignments based on our collaboration model is constantly increasing, now accounting for approximately one-third of our total revenue. These contracts provide an attractive risk/reward profile and lay the foundation for long-term relationships with our customers as we enter at an early stage and can offer added value," CEO Johan Larsson writes in a comment.

In Finland, the market is slower than in Sweden, writes Johan Larsson:

"The difference in market situation between Sweden and Finland is still evident. While the order backlog in Sweden continues to develop positively, the market development in Finland still shows slowness although we have seen signs of improved activity."

Construction company NYAB works on infrastructure, energy and industrial construction projects. The company offers engineering, construction and maintenance services to both the private and public sectors. The company now operates mainly in Sweden, Finland and Norway, but also with some global assignments through an acquired business in Norway.

Lennart Håkansson

editor@northswedenbjusiness.com