Alimak exceeds financial goals early and sets new ones
14 June 2023
Vertical access specialist Alimak Group has set new financial and sustainability targets, as the company says it is “already meeting and exceeding the financial targets” it set out two years ago.
In 2020 the company laid out its New Heights Programme; a two-to-three-year strategy that aimed to achieve revenue growth of between 5% and 7%, with an adjusted EBITA margin target of 14% to 16%.
As a result of the programme Alimak’s 2023 first quarter financial results saw it bring in revenues of SEK1.7 billion (€150 million).
A figure that was further fuelled by its €500 million acquisition of working at height equipment and safety systems specialist Tractel, which subsequently saw Alimak restructure its organisation to incorporate the business.
Following the “positive results in 2022 and the first quarter of 2023”, the Sweden-based company is now targeting an adjusted operating EBITA margin exceeding 18% and annual revenue growth of between 6% and 10%.
Alongside its updated financial goals, Alimak has also said it is to move towards setting CO2 reduction goals through the Science Based Targets environmental initiative, aiming to reduce its scope 1, 2 and 3 emissions by 30% by 2025. This will see ESG assessments carried out for 80% of Alimak’s direct material suppliers.
Ole Kristian Jødahl, President and CEO of Alimak Group, said, “The new financial and sustainability targets that we announce today reflect the potential we see for accelerated profitable growth.
“It also reflects our ambition to contribute to workplace safety, our social responsibility, and our ambition to reduce climate impact. The strong operational improvement, together with the added value from the acquisition of Tractel, will lift the Group to a new level and increase shareholder value.”