The trend has been positive for ÅF in recent years with profitable growth. However, the market is becoming increasingly competitive, particularly within traditional engineering consultancy services. By developing its current business model, ÅF will take a new position as an engineering and design company and will focus on delivering targeted concept solutions, both in the Nordic region and internationally.
“ÅF is an engineering and design company. With new concept solutions, an even stronger offer and a focused international strategy, ÅF’s new strategic direction provides a good starting point for continued growth,” says Jonas Gustavsson, President and CEO.
ÅF has unique range of competences in technology and design that is in demand in the market. Smart cities, smart infrastructure, increased mobility, industrial digitalisation and the changing energy market are strong trends affecting ÅF’s business.
To best meet demand, a new strategy is being launched that will promote continued strong growth and increased profitability in an increasingly competitive market.
- International expansion through leading market positions
ÅF will continue to grow in its core markets Sweden, Norway, Denmark, Finland, Switzerland and the Czech Republic. ÅF is also committed to becoming an international leader in several selected niches and segments such as Automotive R&D, Food and Pharma, Advanced Manufacturing, the Process Industry and Lighting.
- Development of the business model to deliver greater value
ÅF will develop the business model to increase the value in deliveries to clients. The shift means that ÅF will take advantage of its unique range of expertise and will offer clients more packaged solutions and concepts, along with selected products.
- Operational efficiency
The organisation is being simplified and financial steering is being adjusted to achieve a clear P&L responsibility for specific client segments, ensuring international expansion and taking a larger share of end-to-end solutions.
- Attractive employer
ÅF is an attractive employer and will continue to strengthen the way the company works to attract, recruit and develop talent.
Revised financial targets
The financial targets are being reformulated to apply over a business cycle, specifically:
- Annual growth of 10%. The target includes add-on acquisitions. Larger platform acquisitions will be added on top.
- EBITA 10% over a business cycle.
- Net debt in relation to EBITDA (net debt/EBITDA) of 2.5.
An organisation that supports the strategic direction
Starting 1 January 2018 as previously communicated, ÅF will establish a new, simplified organisation with four international divisions: Infrastructure, Industry, Digital Solutions and Energy. The divisions will in turn consist of 21 business areas with full P&L accountability, and responsibility for implementing the new strategy.
As of 9 October, ÅF’s Group Management consists of the following members:
Jonas Gustavsson, President and CEO
Stefan Johansson, CFO
Mats Påhlsson, President, Infrastructure Division
Roberto Gerosa, President, International Division (Energy Division as of 1 January 2018)
Jonas Larsson, Acting President, Industry Division
Lennart Waldenström, President Technology Division (Digital Solutions Division as of 1 January 2018), new member
Lars-Eric Aaro, Strategic business development
Emma Claesson, Vice President, HR and Communications
Nyamko Sabuni, Sustainability
Rune Hardersen, Country Manager Norway, new member
Capital Markets Day, 8 November
ÅF welcomes analysts, investors and the media to the Capital Markets Day to be held on 8 November at ÅF’s headquarters in Solna from 09.00 to 14.00. Sign up here by 30 October.
ÅF Corporate Communication
ÅF AB (publ)
This information is information that ÅF AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 9 October 2017, at 08.00 CET.
ÅF is an engineering and design company for the energy, industrial and infrastructure markets, creating progress for our clients since 1895. By connecting technologies we provide profitable, innovative and sustainable solutions to shape the future and improve people's lives. Building on our strong base in Europe, our business and clients are found all over the world.
For further information, Please contact:
Marta Tiberg, Head of Communication and Brand tel+46 73 072 70 48
ÅF AB (publ), Frösundaleden 2, SE-169 99 Stockholm Sweden
Phone +46 10 505 00 00, Registered office in Stockholm, www.afconsult.com
Corp. id. 556120-6474, VAT SE556120647401
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