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Summarised online version of
Annual and Sustainbility Report 2022

Passion for service and people

Download complete report
Året i korthet

Ett händelserikt år 2022

Coor skapar de bästa arbetsmiljöerna i Norden – smarta, hållbara och fulla av glädje. Vi strävar ständigt efter att bygga team och servicelösningar som gör det möjligt för våra kunder att fokusera på vad de gör bäst.

11
789
Nettoomsättning, MSEK
634
Justerat EBITA, MSEK
10
267
Antal anställda vid årets slut (FTE)
94
Kassagenerering, %
SAS plane in air

Januari

Coor förlänger nordiskt IFM-avtal med SAS

Läs om SAS-avtalet

April

Coors klimatmål godkänns av Science Based Target-initiativet

Mer om SBTi-valideringen

April

Coor lanserar Life Saving Rules

Så jobbar Coor med säkerhet

April

Coor förvärvar Centrumstäd

Läs om förvärvet
Copenhagen opera house

Maj

Uppstart Byggnadsstyrelsen

Mer om uppdraget
Logo ABB

Juni

Coor förlänger IFM-avtal med ABB

Läs om det nya avtalet

Augusti

Nytt employer branding-koncept:
”Du är skillnaden”

Läs om konceptet
A volvo car

Augusti

Coor förlänger IFM-avtal med Volvo Cars

Mer om avtalet
Logo Ecovadis

Oktober

Coor tilldelas guld i EcoVadis

Detta innebär ett guld
Andreas  Engdahl, Coor’s CFO

November

Andreas Engdahl ny ordinarie CFO för Coor

Läs om Coors nya CFO

December

Coor säkrar hållbarhetslänkad refinansiering

Läs om refinansieringen
Coor in brief

An eventful year 2022

The year was marked by acquisitions, start-ups, new and extended contracts as well as a strong focus on sustainability, safety and innovation.

11,
789
Net sales, SEK million
634
Adjusted EBITA, SEK million
10,
267
Number of employees (FTE) at year-end
94
Cash conversion, %

January

SAS plane in air

Coor extends Nordic IFM contract with SAS

About the agreement

April

Coor’s climate targets are approved by the SBTi

About the validation

April

Coor launches Life Saving Rules

How we work with safety

April

Picture of man cleaning

Coor acquires Centrumstäd

Read about the acquisition

May

Copenhagen opera house

Start-up Danish Building and Property Agency

Read about the service delivery

June

Logo ABB

Coor extends IFM contract with ABB

Read about the new contract

August

New employer branding concept: “You are the difference”

Read about the concept

August

A volvo car

Coor extends IFM contract with Volvo Cars

More about the contract

October

Logo Ecovadis

Coor awarded gold by EcoVadis

About Coor’s gold rating

November

Andreas  Engdahl, Coor’s CFO

Andreas Engdahl is appointed new permanent CFO of Coor

Read about Coor's new CFO

December

Coor secures sustainability-linked refinancing

Read about the refinancing

January

SAS plane in air

Coor extends Nordic IFM contract with SAS

About the agreement

April

Coor’s climate targets are approved by the SBTi

About the validation

April

Coor lanserar Life Saving Rules

How we work with safety

April

Picture of man cleaning

Coor acquires Centrumstäd

Read about the acquisition

May

Copenhagen opera house

Start-up Danish Building and Property Agency

Read about the service delivery

June

Logo ABB

Coor extends IFM contract with ABB

Read about the new contract

August

New employer branding concept: “You are the difference”

Read about the concept

August

A volvo car

Coor extends IFM contract with Volvo Cars

More about the contract

October

Logo Ecovadis

Coor awarded gold by EcoVadis

About Coor’s gold rating

November

Andreas  Engdahl, Coor’s CFO

Andreas Engdahl is appointed new permanent CFO of Coor

Read about Coor's new CFO

December

Coor secures sustainability-linked refinancing

Read about the refinancing
SAS plane in air

Januari

Coor förlänger nordiskt IFM-avtal med SAS

Läs om SAS-avtalet

April

Coors klimatmål godkänns av Science Based Target-initiativet

Mer om SBTi-valideringen

April

Coor lanserar Life Saving Rules

Så jobbar Coor med säkerhet

April

Coor förvärvar Centrumstäd

Läs om förvärvet
Copenhagen opera house

Maj

Uppstart Byggnadsstyrelsen

Mer om uppdraget
Logo ABB

Juni

Coor förlänger IFM-avtal med ABB

Läs om det nya avtalet

Augusti

Nytt employer branding-koncept:
”Du är skillnaden”

Läs om konceptet
A volvo car

Augusti

Coor förlänger IFM-avtal med Volvo Cars

Mer om avtalet
Logo Ecovadis

Oktober

Coor tilldelas guld i EcoVadis

Detta innebär ett guld
Andreas  Engdahl, Coor’s CFO

November

Andreas Engdahl ny ordinarie CFO för Coor

Läs om Coors nya CFO

December

Coor säkrar hållbarhetslänkad refinansiering

Läs om refinansieringen
SAS plane in air

Januari

Coor förlänger nordiskt IFM-avtal med SAS

Läs om SAS-avtalet

April

Coors klimatmål godkänns av Science Based Target-initiativet

Mer om SBTi-valideringen

April

Coor lanserar Life Saving Rules

Så jobbar Coor med säkerhet

April

Coor förvärvar Centrumstäd

Läs om förvärvet
Copenhagen opera house

Maj

Uppstart BYGST

Mer om uppdraget

Juni

Coor förlänger IFM-avtal med ABB

Läs om det nya avtalet
ABB logo

Augusti

Nytt employer branding-koncept:
”Du är skillnaden”

Läs om konceptet

Augusti

Coor förlänger IFM-avtal med Volvo Cars

Mer om avtalet
A volvo car

Oktober

Coor tilldelas guld i EcoVadis

Detta innebär ett guld

November

Andreas Engdahl ny ordinarie CFO för Coor

Läs om Coors nya CFO
Andreas  Engdahl, Coor’s CFO

December

Coor säkrar hållbarhetslänkad refinansiering

Läs om refinansieringen
Chief Executive’s review

Building Coor together

2022 was a year when we worked together to build an even stronger Coor. It was a year of solid growth, major integrations and start-ups as well as a year in which we stepped up our efforts in sustainability. Despite the troubled global backdrop, our motivated employees never lost their focus on delivering good service to our customers.

AnnaCarin Grandin, President and CEO

Hör AnnaCarin Grandin kommentera året som gått

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(2 min 52 sek)
Introduktion  /  Vd-ord

Ett framgångsrikt år att vara stolt över

2021 blev ett år som överträffade mina förväntningar inom många områden. Vi gör ett av våra starkaste finansiella år någonsin och uppnår en toppnotering för nyförsäljning, samtidigt som vi genomför tre värdeadderande förvärv. Vi uppnår också våra högsta resultat för både medarbetar- och kundnöjdhet. Under året har Coor dessutom tagit ­viktiga beslut och genomfört flera aktiviteter för att fortsatt bygga ett hållbart företag – på riktigt. Jag är både ödmjuk och stolt över det vi tillsammans uppnått under året!

AnnaCarin Grandin, vd och koncernchef

Läs hela vd-ordet
AnnaCarin Grandin, vd och koncernchef

Vision

Coor skapar de bästa arbetsmiljöerna i Norden – smarta, hållbara och fulla av glädje. Vi strävar ständigt efter att bygga team och servicelösningar som gör det möjligt för våra kunder att fokusera på vad de gör bäst.

Affärsidé

Coors affärsidé är att ta över, sköta och utveckla service i kontor, fastigheter, produktionsanläggningar och i offentlig verksamhet. Verksamheten ska bedrivas på ett effektivt, långsiktigt hållbart och värdeskapande sätt i förhållande till kunder, medarbetare och investerare, men också för samhället och miljön i stort.

Strategy

Our strategic platform

Coor’s strategic platform sets the direction for the entire business and guides our priorities and decisions.

Sustainability in several dimensions

In recent years, Coor has placed particular emphasis on becoming a truly sustainable company. Sustainability – environmental and social – should be integrated into everything Coor does. Environmental sustainability is about reducing the carbon footprint of our own business and of our customers’ businesses. Social sustainability is based on what is fundamental to us at Coor: respect for the equal value and rights of all people. For Coor, social responsibility is about taking a big responsibility as an employer, first of all by providing a safe work environment but also by working to promote an equal gender distribution among managers and by supporting local community involvement. We are committed to promoting diversity and equality, and to helping our employees grow and develop.

Modern workplaces

In recent years, many companies have been placing a growing emphasis on strategic workplace issues. Hybrid working has evolved rapidly, creating new demands on our workplaces and working methods. There is strong demand across the Nordic countries for our consultants, who help businesses and organisations to create attractive, healthy and inspiring workplaces that will stand the test of time. Coor’s consultants develop strategies and concepts for the modern workplace and take overall responsibility for the implementation of the project.

A Nordic company

The Nordic countries are Coor’s home market. Coor’s proximity to its customers and its knowledge of local conditions enable us to offer customised and flexible solutions. We are attentive to our customers’ needs and work continuously to strike the right balance between economies of scale in the delivery of services and customer adaptations. Coor has some of the largest IFM contracts in the Nordic region, including contracts with Aibel, Ericsson, Volvo Cars, Ica, and the Danish Building and Property Agency.

Growth in IFM

Coor is the Nordic market leader in delivering IFM services to large organisations with complex requirements. Coor sees continued growth opportunities in the IFM segment, which is growing faster than the FM market as a whole. A growing number of customers are choosing to purchase the majority of their facility management services from a major service provider with the resources to invest in development and innovation. A service provider such as Coor is also able to create synergies between services by using the same personnel for multiple services and thus reduce the overall cost for the customer. This includes management and governance synergies.

Growth in single services

As a major player, Coor is able to offer high-quality separate services at market prices. The service areas that Coor has chosen to focus on are property services, cleaning, and food and beverages. These services are included in most customer contracts. Coor experienced growth in smaller deals during the year and aims to continue to increase its market share in this area, both organically and through acquisitions

Operational efficiency

Coor has a strong improvement and efficiency focus and strives to be the best in the industry at delivering services which increase customer value. Continuous operational improvements are an important part of working life for Coor’s personnel. Innovations which increase our customers’ efficiency and reduce the use of resources also help to promote sustainable development.

Goals and results

Goal and results

Organic growth

Goal 5 %

Annual organic growth of 4–5 per cent over the course of a business cycle.

Result 5 %

In 2022, Coor grew organically by 5 per cent, which is in line with the company’s goal over a business cycle. Organic growth was boosted by the new large IFM contracts with the Danish Building and Property Agency and DSB, while the termination of the contracts with Equinor Offices and Volvo Group had a negative impact.

Chart ORGANIC GROWTH

Adjusted EBITA margin

Goal ~5,5 %

An adjusted EBITA margin of around 5.5 per cent in the medium term.

Result 5,4 %

In 2022, Coor had an EBITA margin of 5.4 per cent. The margin is slightly lower than in the previous year, but in line with Coor’s long-term goals. The figure for the previous year of approximately SEK 40 million was affected by a positive effect in the form of the repayment of a surplus of approximately from the collectively agreed AGS health insurance scheme.

Chart ADJUSTED EBITA MARGIN

Cash conversion

Goal >90 %

A cash conversion rate in excess of 90 per cent in the medium term. 

Result 94 %

Continued structured cash flow management led to improved working capital and a balanced investment level, which resulted in continued strong cash conversion.

Chart CASH CONVERSION

Payout ratio

Goal ~50 %

The goal is to distribute around 50 per cent of the company’s adjusted net profit for the period (before amortisation and impairment of intangible assets) in ordinary dividends to the shareholders.

Result 111 %

In view of the company’s continued strong earnings, cash flow and low debt level, the Board proposes a dividend for 2022 on the same level as in 2021, of SEK 4.80 per share (comprising an ordinary dividend of SEK 2.40 per share and an extraordinary dividend of SEK 2.40 per share). The total dividend amounts to 111 per cent of the company’s adjusted net profit for the year. The proposed dividend is subject to approval at the 2023 AGM.

Chart PAYOUT RATIO

Capital structure

GOAL <3,0X

Net debt of less than 3.0 times adjusted EBITDA in the medium term.

Result 1,9X

During the year, Coor paid a dividend of SEK 457 million to the shareholders. Despite this, the company reported a leverage of 1.9 times adjusted EBITDA, which is well in line with the Group’s goal.

chart - Capital structure

High customer satisfaction

Goal ≥70

The goal is to maintain a high level of customer satisfaction over time (Customer Satisfaction Index) ≥70.

Result 71

The result for the year – a score of 71 – indicates a level of customer satisfaction that is still well in line with the company’s goals.

Chart HIGH CUSTOMER SATISFACTION

Committed and motivated employees

Goal ≥70

The goal is to maintain a high level of employee motivation (Employee Motivation Index) ≥70.

Result 76

In the employee survey for the year, Coor maintained a high score – 76 – which is well above the company’s target.

Chart COMMITTED AND MOTIVATED EMPLOYEES

No injuries or long-term sick leave

Goal ≤3,5

The goal is to reduce the company’s TRIF (total recorded injury frequency rate) to ≤3.5 by 2025. 

Result 7,0

The number of injuries has continued its steady decline. For 2022, TRIF was down by almost two units, indicating that our efforts have continued to have an impact. There is still some way to go to achieve our long-term goal.

Chart NO INJURIES OR LONG-TERM SICK LEAVE

Equal opportunities

Goal 50 %

The goal is a 50/50 gender balance at management level.

Result 50 %

Across the company as a whole, the proportion of women in management positions is 50 per cent, which is in line with the company’s goal.

Chart EQUAL OPPORTUNITIES

Reduced emissions

Goal -75% / 75% /-30%

Coor’s goal is to reduce its absolute Scope 1 and 2 emissions by 75 per cent by 2030 compared with the baseline year, 2018. The interim target is to reduce emissions by 50 per cent by 2025. Our Scope 3 targets are for 75 per cent of emissions from purchased goods and services as well as upstream transport to come from suppliers who have had their targets approved by the SBTi or an equivalent body. In food and beverages, Coor also has a goal of reducing emissions by 30 per cent by 2025 compared with 2018, related to the volume of food purchased. 

OUTCOME +7% / 4% / -16%

Overall, Coor’s Scope 1 and 2 emissions have increased by 7 per cent in absolute terms since 2018. The failure to reduce emissions is mainly related to the availability of infrastructure for electrified vehicles coupled with long delivery times for new electric vehicles as well as the company’s rapid growth, which has resulted in a growing car fleet. In absolute terms, tCO2e from energy use have decreased by 57 per cent since 2018.

At the end of 2022, an initial measurement showed that 4 per cent of Coor’s emissions come from suppliers with validated SBTi targets.

Furthermore, through measures such as climate-smart menu planning Coor has reduced emissions in food and beverages by 16 per cent compared with the baseline year 2018, and reports a value of 2.20 kg CO2e/kg food purchased for 2022.

tCO2e from vehicle fleet (Scope 1 and 2)

chart - tCO2e from vehicle fleet (Scope 1 and 2)

kgCO2e per kilogram of food purchased (Scope 3)

chart - kgCO2e per kilogram of food purchased (Scope 3)
Responsible business

Making Nordic workplaces more sustainable

Coor’s overall goal is to develop the business in the best way and maximise financial returns while at the same time helping to build a better future for humans and the environment.

Customer offering

We offer
Contribution Agenda 2030
Examples of events during the year
Advice on reduced energy use.
Goal 7 affordable and clean energyGoal 13 Climate action
SmartLighting – lighting as needed.
Healthier and more sustainable workplaces.
Goal 3 good health and well-being
Pilot project with meeting pods for a calmer office environment.
Green advice for reduced resource use.
Goal 12 Responsible consumption and productionGoal 13 Climate action
Pilot CO2e report project for a customer, initiative to reduce food waste and new solutions such as SmartCharge.

Our operations

Activities
Contribution Agenda 2030
Examples of events during the year
Working to prevent occupational injuries.
Goal 3 good health and well-being
Life Saving Rules – training in eight risk areas.
Offering decent wages and working conditions.
Goal 8 decent work and economic growth
Large employee survey and annual salary survey.
Stor medarbetar-undersökning och årlig lönekartläggning.
Employing people who are far removed from the labour market.
Goal 10 reduced inequalities
Several partnerships aimed at helping foreign born people and refugees to join the labour force, such as REDO, New Integration in Society (NIIS) and Startup Refugees.
Striving for equality, diversity and inclusion, at all levels.
Goal 5 gender equalityGoal 10 reduced inequalities
New policy for diversity and inclusion.
Reducing our climate impact.
Goal 7 affordable and clean energyGoal 13 Climate action
Climate targets validated by the SBTi, increased share of renewable energy, continued adaptation of our car fleet, improved monitoring ability and goals in food and beverages.
Klimatmål
validerade av
SBTi, ökad andel förnyelsebar
energi, fortsatt anpassning av vår bilflotta,
förbättring
av vår uppföljnings-förmåga samt mål inom mat & dryck.
Reduced water and chemicals use and reduced waste.
Goal 12 Responsible consumption and productionGoal 14 Life below water
Blacklist created for chemicals to be phased out, work on finding alternatives is ongoing.
Establishing partnerships for development and innovation that support businesses, society and the climate.
Goal 17 partnerships for the goals
Donation to Ukraine and several innovation engagements, including as a lead partner to the PropTech Awards 2023.
Ikon affärsansvar
Kvinna som rengör fönsterkarm

Affärsansvar

Coor ska ha en stabil finansiell utveckling och leverera hög kundnöjdhet genom att:

  • Ha en uthållig tillväxt och lönsamhet över tid, samtidigt som god affärssed tillämpas.

  • Leverera värdeskapande och innovativa lösningar baserade på kundernas krav på funktionalitet, effektivitet och säkerhet.

  • Tillhandahålla tillförlitlig och relevant information på ett säkert sätt.

  • Bidra till att kunderna uppnår sina mål.

Hållbarhetsmål 8, Anständiga Arbetsvillkor och ekonomisk tillväxt
Hållbarhetsmål 17, Genomförande och globalt partnerskap
Hållbarhetsmål 17, Genomförande och globalt partnerskap
Grupp med Coor-medarbetare
Ikon socialt ansvar

Socialt ansvar

Coor ska ha engagerade och motiverade medarbetare, inga arbetsrelaterade skador eller långtidssjukskrivningar och lika möjligheter genom att:

  • Aktivt arbeta för välmående medarbetare och en säker arbetsmiljö. 

  • Värna om mångfald och jämställdhet där varje medarbetare ska behandlas respektfullt och rättvist oavsett exempelvis kön och etnicitet. 

  • Utveckla och engagera bolagets medarbetare.

  • Bidra till samhällsutvecklingen genom lokala samhällsförbättrande initiativ.

Hållbarhetsmål 3, Hälsa och välbefinnande
Hållbarhetsmål 5, jämställdhet
Hållbarhetsmål 10, Minskad ojämlikhet
Kvinna som kommer ut från hiss
Ikon miljöansvar

Miljöansvar

Coor ska arbeta för ansvarsfull konsumtion och minskade utsläpp genom att:

  • Aktivt medverka till att minimera kundernas miljöpåverkan.

  • Bedriva ett strukturerat och proaktivt internt miljöarbete.

  • Aktivt arbeta med strategiska och taktiska leverantörer.

  • Halvera Coors klimatavtryck fram till 2025.

Hållbarhetsmål 12, Hållbar konsumtion och produktion
Hållbarhetsmål 13, Bekämpa klimatförändringarna
Hållbarhetsmål 14, Hav och marina resurser
Citationstecken
Den övergripande mål­sättningen är att verksamheten ska utvecklas positivt och generera maximal ekonomisk avkastning, utan att göra avkall på respekten för människor och miljö.
Bild hållbarhet
Our employees

Enriching diversity

Respect for the equal value and rights of all people is fundamental to Coor. We are convinced that a diversity of personalities, experiences and knowledge is enriching and that each employee should be treated respectfully and fairly regardless of gender, background or identity. At Coor, everyone should feel that they can be themselves.

Picture och Jasmina Mujcinovic

Jasmina Mujcinovic − Group Manager at the logistics and waste centre at the Karolinska University Hospital in Solna

Everything is possible – as long as you believe in yourself and surround yourself with the right people. That attitude enabled Jasmina Mujcinovic, in two years, to advance from goods receiver to Group Manager at the logistics reception at the Karolinska University Hospital in Solna.

Picture of Martin Rostock & Lars Steen Jensen, HVAC technicians

Martin Rostock & Lars Steen Jensen − HVAC technicians

For many adults, switching to another line of work and going back to school is a big step. But for Lars Steen Jensen, 45, and Martin Rostock, 39, it was a decision they never regretted.

Tanja Helland leader of the year

Tanja Helland − Has a role that combines responsibility for HR, administration and HSEQ.

Tanja Helland was HR Director at R&K Service when it was acquired by Coor in 2021. One year later, she was named Leader of the Year at Coor Awards.

Picture of Mariel Kabawi

Marial Kabawi − HVAC specialist and project manager

Shortly after graduating from the Royal Institute of Technology, Marial Kabawi started working as an HVAC specialist and project manager on Coor’s contract at the Karolinska University Hospital in Solna. Her learning curve in the first year has been steep as she has tackled a wide variety of tasks and completed internal and external training activities.

Coor in the nordic region

Nordic specialist

The Nordic countries are Coor’s home market. Coor operates in Sweden, Norway, Denmark and Finland. Our explicitly Nordic strategy and our proximity to the customers and knowledge of local conditions enable us to offer customised deliveries.

Our customers

Meet our customers

Everything we do at Coor we do with our customers’ best interests in mind. In 2022, we supported Alleima in its efforts to reduce its heat consumption, helped Deloitte to calculate and reduce the climate impact of its office operations, contributed to GN Store Nord reaching its goal of becoming carbon-neutral and maintained a unique railway area for SSAB, among many other activities.

Alleima

Thanks to a systematic and structured effort and a strong commitment from the customer, Coor was able to reduce heat consumption by 16,000 MWh at Alleima in Sandviken in just three years.

Deloitte

Few companies know what emissions are generated by their office operations, and this can hamper the effort to raise awareness. In a pilot project, Coor has therefore helped Deloitte as well as other customers to calculate the climate impact of their service delivery.

Picture of Metta Andreasen, FM Manager and Hannah Smith, Sustainability Specialist,, GN Store Nord

GN Store Nord

With the help of sensors, Coor reduced GN Store Nord’s energy consumption by 40 per cent in 2022 and thus helped the company move towards its vision of creating the technology of the future with a focus on sustainability.

SSAB

In a partnership stretching back more than ten years, Coor has been providing property maintenance services to SSAB’s unique Raahe factory area in Finland.

Interview with Coor’s CFO

“We stand strong in a changing world”

2022 has been a year marked by great uncertainty in the world, but Coor is stable and secure. Coor performed well, with robust organic growth, stable cash flow and a focus on sustainability, efficiencies and innovation, according to Andreas Engdahl, Coor’s CFO.

Read the interview
Stående medarbetare