AI Terminal
Momentum Group
Regulatory Filings • Dec 15, 2023
3077_rns_2023-12-15_ae9ba519-2737-4335-bbfd-bb77113c5b44.pdf
Regulatory Filings
Open in ViewerOpens in native device viewer
New Group structure in Momentum Group
Momentum Group is introducing a new Group structure for continued growth, profitability and development. The change strengthens the conditions for organic and acquired growth in each business area by making better use of the breadth and expertise that has been built up in the Group since the listing last year.
"Since the spin-off in March 2022, we have completed 14 acquisitions and 10 so far this year. Our financial target is to double our EBITA every five years. Our strong track record since our listing puts us in a good position to reach this initial target on time – that is, to increase EBITA to 340 SEK million by latest the end of 2026. In order to create the best conditions for continued growth and to more clearly reflect our strategic focus, we are now making an adjustment of the Group structure based on the market sectors in which the companies operate. We want to utilise the expertise accumulated within the Group, especially on the acquisition side, and encourage knowledge sharing between companies with similar market conditions. We have also established an organisation that is already fine-tuned to the new structure," says Ulf Lilius, President and CEO of Momentum Group.
As of 1 January 2024, the business will be divided into the two business areas, Industry and Infrastructure.
Business area Industry
The companies in the Industry business area offer components and related services primarily to aftermarket and OEM customers in the industrial sector in the Nordic region. The companies are primarily resellers, but with some elements of own products and assembly with a strong focus on industrial improvements. The companies, with a leading position in one or more product verticals and market niches, are divided into the two business units: Power Transmission and Specialist. The business area consists of parts of the former Components business area.
Business area Infrastructure
The companies in the Infrastructure business area offer products, services and solutions to customers in industrial infrastructure that are critical to a functioning society. The companies are resellers and service companies and often deliver complete solutions with a focus on safe operation, longer service life and increased efficiency. The companies, with a leading position in one or more product verticals and market niches, are divided into the two business units: Flow Technology and Technical Solutions. The business area consists of the former business area Services, with the addition of certain companies that were previously part of Components business area.
Momentum Group will report in accordance with the new group structure as of 1 January 2024. Comparative figures for the financial year 2023 according to the new group structure will be presented in the year-end report for 2023, which will be published on 15 February 2024.
For further information, please contact:
Ulf Lilius, President & CEO
Tel: +46 8 92 90 00
Niklas Enmark, CFO Tel: +46 703 93 66 73
Ann-Charlotte Svensson, IR Tel: +46 720 85 72 62
About Momentum Group
Momentum Group operates, develops and acquires successful sustainable companies in the Nordic region through active ownership with decentralised profit and business responsibility. The Group consists of a number of companies that together constitute one of the Nordic region's leading suppliers of industrial components, industrial services and other related services in the industrial sector. What the businesses have in common is that they help make customers' operations easier, safer and more profitable by offering sustainable, long-life products and services with a strong local presence close to customers. The Group generates revenue of approximately SEK 2.1 billion and has more than 700 employees. Momentum Group's B share is listed on Nasdaq Stockholm. For more information, please visit momentum.group.
Image Attachments
Attachments