CEO-blog: With 2023 drawing to a close, we recharge for major new achievements

On the broader front, 2023 turned out to be quite a gloomy year in which news reports were pervaded by conflict, violence and natural disasters. The economic situation worsened, which, combined with price increases and high interest rates, posed challenges for many. The installation industry was also impacted to a certain extent, although we managed fairly well on the whole.

We saw housing construction throughout the Nordic region grind to a total halt and the markets for commercial properties and green technology weakening locally, while demand for community service properties and industrial properties was strong.

Looking back on 2023, although I must confirm that we experienced challenges locally, we made good headway overall. In our efforts to be the best installation company in the industry, we have continued to develop our offering. During the year, we launched a new solar panel concept (Assemblin Solar), a broadened energy efficiency enhancement concept and a new energy monitoring system using EcoGuard’s cloud platform Curves. We also continued our journey of digitalisation by, among other things, launching a new, modern employee platform and increasing our use of a digital tool for real-time production review. This makes it possible for us and for our customers to monitor our work online, affording us a better overview and control.

Our overriding ambition is to generate value sustainably, for employees, customers, investors and the external community alike. For us, acknowledging our far-reaching responsibility for the operations we conduct and how we affect our society and the environment is fundamental. For this reason, we also undertook initiatives in the area of sustainability, including by increasing the share of electric vehicles in our fleet and by strengthening our expertise in sustainability reporting, climate calculations and recycling. We have participated in several pilot projects that have generated important insights to take with us on our continued journey.

At Assemblin, we believe strongly in the motivation and dynamic generated through decentralised operations, therefore taking the natural starting point for our business in the local operations. At the same time, we apply a shared framework that outlines our ethical approach, minimum standards in key areas, shared principles and our culture. In 2023, a detailed review of the operations was conducted and I am very pleased to be able to report that our organisation builds on inclusion, team spirit and mutual respect. We also have considerable faith in the future within the Group and this is an aspect we will carry with us into 2024 and in our continued efforts to create the best installation solutions in the market and, accordingly, to deliver the market’s strongest earnings.

Stockholm in December 2023,

Mats Johansson,

President and CEO, Assemblin