We do not shy away from challenges
As our EBITA margin did not reach our target of 7 percent but ended up at 5.2 percent, 2025 will be characterised by efforts to increase the margin in Denmark, southern Sweden and Finland. At the same time, we will get Norway above 7 percent. To succeed, we need to continuously achieve more economies of scale while continuing to focus on high-margin segments.
In 2024, we reinforced our work on our Code of Conduct, following the revelation of unethical and illegal behaviour at one of our branches. The intensification involved reviewing and updating the policy and renewing our associated mandatory training. Targeted efforts were also made to both managers and employees regarding the importance of reporting deviations and about the possibility of using Bravida's whistleblowing function, to ensure that adequate measures can be taken quickly.
We continuously strengthen our offering
On a more positive note, we welcomed 10 new companies to Bravida in 2024. Our aim is for acquired companies to be fully integrated with all our systems and graphic profile within 3–12 months, without there being too much impact on the existing organisation. This makes us competitive and creates good internal control. This approach is unique in the industry and enables Bravida to continuously deliver as the strong partner we are to our customers. I want each acquired company to feel positive about the integration process and thus become an ambassador for Bravida. This is how we can broaden, strengthen and develop our business and our brand over time.
Bravida's existing business operations were also strengthened with new offerings relating to automation. We discontinued the Growth Segments division to improve our profitability and those services are now integrated into our local organisations. This has gone very well and we have a presence in 50 locations and have 3,000 customers with a volume of SEK 1 billion.
I am also pleased with our continued expansion in major infrastructure projects, as this is a profitable and growing segment. Our more than 15 years of experience in running large advanced projects with international contracts makes us unique and has given us both solid knowledge and a significant advantage over our competitors.
Our employees are at the heart or our organisation
Digitalisation, artificial intelligence, electrification and reduced energy usage are all future areas that form part of our offering. My personal ambition, as well as that of the company, is to continue developing these important services. To succeed, we need skilled and committed people and, as the Nobel Prize winner in Physics Geoffrey Hinton says, practical tradesperson expertise is the best future profession. What cannot be digitised, for example the work of a plumber or electrician, is likely to increase in value over time.
It is therefore with extra pride that I can say that in 2024 Bravida was voted the most attractive employer in Sweden, Apprentice Company of the Year in Norway, won at the Fagtalent Awards in Denmark and achieved an eNPS of almost 20 in Norway. All this puts us in a very favourable position to further advance our positions and contribute to the transition in society.
With this in mind, we look forward to seeing the economy turn around in 2025 and to being able to continue to ensure, with our strong end-to-end offering, that everything that needs to work for our customers, just works. Around the clock, all year round.
Mattias Johansson
CEO and Group President
Stockholm, March 2025