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Introduction  /  Chief Executive's review

A successful year to be proud of

2021 was a year that exceeded my expectations in many areas. Financially, this was one of our strongest years ever, in which we achieved record new sales and made three value-adding acquisitions. We also achieved our highest levels of employee and customer satisfaction to date. During the year, Coor also made important decisions and carried out several activities aimed at building a truly sustainable company. I am humbled by and proud of what we achieved together in the past year!

At Coor, we are convinced that sustainability needs to be part of everything we do, today and in the future. During the year, we took several important steps towards our goal of building a sustainable company. We joined the UN Global Compact and Science Based Targets initiative in order to take our social responsibility as a company and to do everything we can to reduce our own and our customers’ carbon footprints. To really show that we take sustainability seriously, we also amended our variable remuneration programmes for all senior executives and key personnel to also include social and environmental sustainability targets. We have had many reactions to this decision, all of them positive, and I am very pleased with that.

Our employees are everything to us

Coor is a company where the knowledge, skills and motivation of all our employees are crucial to our success. For nearly two years, we have lived with a lengthy pandemic that has affected us all. According to the Swedish Public Health Agency, stress, anxiety and sleeping problems have increased in the population as a whole. Despite these circumstances, we maintained our previous top rating of 78 in our annual employee survey. This success can be attributed to Coor’s inclusive culture and our motivated employees and strong, coaching leaders, all of whom are committed to working together for our customers and achieving results.

The great diversity of our workforce is another success factor. We have employees from many different nationalities and cultures. Coor is an important engine of integration, and our different perspectives and experiences enable us to find faster and better solutions where we make use of each other’s knowledge. Diversity makes Coor a stronger company. I would like to extend a heartfelt thank you to all our employees who have shown the Coor spirit throughout this pandemic by being flexible, quick to adjust and willing to share the burden with our customers.

AnnaCarin Grandin, vd och koncernchef
Coors drygt 11 000 medarbetare speglar samhället i stort, när det gäller kultur, bakgrund, ålder och kön. Jag är övertygad om att dessa olikheter stärker oss som bolag.

Listen to AnnaCarin Grandin commenting on the past year

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Satisfied customers enable growth

I am convinced that satisfied employees lead to satisfied customers, and that’s something that became very clear this year. In this year’s customer survey we achieved our highest score yet – 74. This is a great testimony to the importance of our employees’ passion for service and shows that our customer-centred business model with decentralised responsibility remains a recipe for success.

Coor is growing

Coor has had a very successful year in terms of new sales. We won new business worth over SEK 1.1 billion, which is a new high since the company’s IPO in 2015. The Danish Building and Property Agency, DSB and PostNord are some of our new customers. I am convinced that the reason behind our success is that we always tailor our service concepts to our customers’ needs, that we are at the forefront in terms of sustainability and that we are constantly developing our services together with our customers to deliver the best service experiences. We work continuously to develop and maintain our customer relationships. The goal is satisfied customers who want to renew their contracts with Coor. In 2021, a number of major contracts were renegotiated, including those with Aibel, GKN, Borealis, Attendo and Equinor’s production sites.

We also made three value-adding acquisitions, which together add just under SEK 1.3 billion in sales. The year began with our acquisition of Norwegian R&K Service, a family business that provides cleaning and restaurant services in the Stavanger area. In the middle of the summer, we acquired the Swedish company Veolia Technical Management, a business with extensive expertise in technical service management in sensitive, industrial environments. In the autumn, we acquired Inspira, including their subsidiary Middlepoint. Like R&K Service, Inspira is a very well-run family business. Inspira delivers workplace services to a large number of customers in Central Sweden.

My ambition is for Coor to continue to grow organically, but we also see great potential to continue acquiring value-adding companies.

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We must not rest on our laurels

We have completed a successful year, but that doesn’t mean that we can rest on our laurels. I usually think of Ingvar Kamprad, IKEA’s founder, and his memorable words: “Most things still remain to be done. A glorious future!” We are facing a new year during which our newly won business and acquisitions must be integrated into our operations and new exciting business opportunities will be realised. During the year, we accelerated our development efforts in areas such as innovation, sustainability, digitisation, service development and customer experience. I am extremely proud of all our employees who have made this possible. The world around us will change and it is therefore imperative that we always stay at the forefront if we want to remain the Nordic region’s leading IFM company. Coor is ready for the future!

AnnaCarin Grandin
President and CEO
March 2022