NYAB reports record quarter

The listed Swedish-Finnish Luleå-based company NYAB grew by 80 per cent in the first quarter. Operating profit more than doubled and revenues almost doubled.

This is shown in the company's quarterly report.

Revenue totalled EUR 106 million, compared to EUR 60 million in the same quarter last year. This represents an overall change of 80 %. Excluding the acquisition of Dovre in January, organic growth was 33%.

Operating profit (EBIT) more than doubled compared to the same quarter last year, from EUR 0.4 million to EUR 1 million. This represents 0.9 per cent of revenue.

The number of employees has increased from 420 to 980 in one year.

Order intake was over EUR 150 million, an increase of 197%. During the quarter, the company signed contracts for the expansion of Luleå Industrial Park, a new local office in Umeå, the first phase of the Norrbotten railway and the expansion of Umeå harbour. In a troubled world. Nyab is expanding in neighbouring geographical markets with stable demand.

"When I summarise the first quarter, our low season, with historically high sales, strong order growth and good margins, I can confidently state that the start of the year was handled well and that we, as expected, showed stable development. We are now in a stronger and more favourable position than ever for the rest of the year," writes CEO Johan Larsson in the quarterly report.

NYAB offers engineering, construction and maintenance services in infrastructure, industrial construction and energy. Its main markets are Sweden, Finland and Norway. The company is listed on the Stockholm Stock Exchange. The Group is headquartered in Luleå.

Lennart Håkansson

editor@northswedenbusiness.com