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A record year for Saferoad Group

Saferoad Group achieved a record year growing EBITDA by 47% to NOK 563 million in 2020, meaningfully increasing profitability of the group. Sales grew strongly by 9% to NOK 5.3bn, with growth expected to continue throughout 2021. The Group sees significant opportunities for consolidation in the European market.

“These strong results are the outcome of hard work and focused efforts, since I joined the company in 2018, to consolidate the businesses within our Group, and to deliver the high quality products and services that our customers demand. We are the market leader in the Nordic region and we have a strong presence across Europe, which makes us well-positioned to achieve further profitable growth in our attractive markets in the years to come. We are also now in a strong position to expand further into new geographies and adjacenct markets, both organically and through M&A.” says Espen Asheim, Group CEO of Saferoad Group.

 

 

 

 

 

 

 

 

Espen Asheim, Group CEO

Since FSN Capital de-listed Saferoad from the Oslo Stock Exchange in 2018, the company has focused on establishing a platform for future growth. A new Board of Directors was appointed, chaired by Patrik Nolåker, while Espen Asheim joined as Group CEO, along with Thomas Røkke as CFO. Together with FSN Capital, the new management team has restructured the company, improved profitability, and accelerated growth.

“It is great to see such succesful outcome of the turnaround operation intiated when we bought the company. Saferoad Group has undergone an impressive transformation and developed into a large and well-run industrials group, Partner in FSN Capital Partners, Ulrik Smith, says.

The road infrastructure company Viacon was carved out as a separate sister company with its own board and management team. Saferoad has been refocused around four international business areas: road restraint systems, signs and work zone protection, road marking, as well as light poles and masts.

Attractive underlying market

The Group currently has 2.200 employees, across 13 countries. It is the clear market leader in the Nordic region with strong presence in the rest of Europe. In 2020, the Group’s revenues were NOK 5.3bn of which more than 35% originated from outside the Nordic region. The recently established sister company Viacon reported EBITDA of NOK 208 million in 2020.

“As most companies, we have been affected by the pandemic during 2020. We quickly implemented strict infection control measures locally to ensure efficient and safe operations. Fortunately, we operate in a resilient industry. Road safety is of highest priority in most countries – even during crises like this. Our vision is simple – no one should be killed or seriously injured in traffic accidents,” Espen Asheim says.

Saferoad Group operates in a market with strong underlying growth.

“Several European countries are investing heavily in infrastructure projects, a trend reinforced by government stimulus packages  due to the pandemic. Road safety requirements  and the number of requests for such solutions from major contractors are increasing,” Espen Asheim says.

Front-runner in ESG  (Environmental, Social & Governance)

There is a strong demand for safer roads across Europe, and many European countries are looking to match the high safety standards established in the Nordic countries. This is another factor driving the high ambitions at Saferoad.

“The widespread awareness of the need to comply with ESG requirements is an  advantage, as our products help save lives. Over the past two years, we have implemented a new ESG platform and we see that customers are increasingly demanding eco-friendly products and solutions. Saferoad has taken an active role in this and our ambition is to help raise the bar for the entire industry,” Espen Asheim says.

 

Media enquiries

Sara S. Sørlie, Group Communication Manager

sara.sorlie@saferoad.com // Tel: +47 917 62016