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.
The year was marked by acquisitions, start-ups, new and extended contracts as well as a strong focus on sustainability, safety and innovation.
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
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-ordetCoor 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.
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.
Coor’s strategic platform sets the direction for the entire business and guides our priorities and decisions.
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.
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.
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.
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.
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
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.
Annual organic growth of 4–5 per cent over the course of a business cycle.
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.
An adjusted EBITA margin of around 5.5 per cent in the medium term.
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.
A cash conversion rate in excess of 90 per cent in the medium term.
Continued structured cash flow management led to improved working capital and a balanced investment level, which resulted in continued strong cash conversion.
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.
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.
Net debt of less than 3.0 times adjusted EBITDA in the medium term.
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.
The goal is to maintain a high level of customer satisfaction over time (Customer Satisfaction Index) ≥70.
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.
The goal is to maintain a high level of employee motivation (Employee Motivation Index) ≥70.
In the employee survey for the year, Coor maintained a high score – 76 – which is well above the company’s target.
The goal is to reduce the company’s TRIF (total recorded injury frequency rate) to ≤3.5 by 2025.
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.
The goal is a 50/50 gender balance at management level.
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.
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.
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.
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.
Light is crucial to how we feel and perform during a long day at the office – that is something we have realised in recent years. Martin Svensson works as Lighting Solutions Manager at Coor and knows how to create a good environment using the right lighting.
The eye is the brain’s window to the outside world and it is through our vision that we experience different colours, movements, darkness and light, for example. Good office lighting is therefore essential to the well-being of employees, increasing their creativity and creating the conditions that will enable them to excel at work. Martin Svensson, Lighting Solutions Manager at Coor, elaborates:
“To create an environment where employees want to be, property owners and landlords need to focus on their lighting. As we move towards creating offices that resemble hotel lounges or cosy restaurants, lighting is vitally important. It needs to be location-oriented, which means that it needs to focus on a specific location, and each employee needs to be able to define their own particular lighting environment,” he says.
What are the benefits for the employees of good lighting?
“There is a lot of research into the circadian rhythm, our biological clock and how humans behave depending on the light environment. The right lighting gives us an energy boost when needed, while warmer light with less intensity helps us to wind down.” The lighting in the rooms needs to have a different character depending on the tasks being performed.
“Places for focused work need to have office lighting, rooms for hybrid working need adequate lighting towards the person’s face with the right contrast to the background light, while rooms used for face-to-face meetings need a welcoming light around the table so that you can focus on the person you are talking to. Kitchens and lounge areas need lighting that reduces stress levels and enable us to enjoy our food in peace or take a moment’s rest from the productivity of the workplace,” says Martin Svensson.
He himself finds role models in his work at a number of mainly US tech companies that have used lighting, among other features, to design workplaces that “employees won’t want to leave”.
“They have really invested in this and realised how important the lighting is to create character, signal the company’s values and build attractiveness.”
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.
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.
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 − 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.
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.
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.
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.
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 interviewCoor i Sverige genomför två förvärv under 2021 som breddar och stärker bolaget. Under året återhämtar sig marknaden och det ger effekt i form av ökad efterfrågan på servicetjänster hos befintliga kunder samt nytecknade och förlängda kundavtal.
Ett viktigt fokusområde under coronakrisen har varit att stötta kunderna genom anpassade leveranser utifrån skiftande behov. I takt med att fler kunder planerar återgång till sina arbetsplatser har Coor hjälpt till med att säkerställa trygga arbetsmiljöer. Lokalvård har under året varit en strategiskt viktig tjänst för många kunder och ett serviceområde som fortsätter att växa.
Ett viktigt fokusområde under coronakrisen har varit att stötta kunderna genom anpassade leveranser utifrån skiftande behov. I takt med att fler kunder planerar återgång till sina arbetsplatser har Coor hjälpt till med att säkerställa trygga arbetsmiljöer. Lokalvård har under året varit en strategiskt viktig tjänst för många kunder och ett serviceområde som fortsätter att växa.
Ett viktigt fokusområde under coronakrisen har varit att stötta kunderna genom anpassade leveranser utifrån skiftande behov. I takt med att fler kunder planerar återgång till sina arbetsplatser har Coor hjälpt till med att säkerställa trygga arbetsmiljöer. Lokalvård har under året varit en strategiskt viktig tjänst för många kunder och ett serviceområde som fortsätter att växa.
Ett viktigt fokusområde under coronakrisen har varit att stötta kunderna genom anpassade leveranser utifrån skiftande behov. I takt med att fler kunder planerar återgång till sina arbetsplatser har Coor hjälpt till med att säkerställa trygga arbetsmiljöer. Lokalvård har under året varit en strategiskt viktig tjänst för många kunder och ett serviceområde som fortsätter att växa.
Ett viktigt fokusområde under coronakrisen har varit att stötta kunderna genom anpassade leveranser utifrån skiftande behov. I takt med att fler kunder planerar återgång till sina arbetsplatser har Coor hjälpt till med att säkerställa trygga arbetsmiljöer. Lokalvård har under året varit en strategiskt viktig tjänst för många kunder och ett serviceområde som fortsätter att växa.
Ett viktigt fokusområde under coronakrisen har varit att stötta kunderna genom anpassade leveranser utifrån skiftande behov. I takt med att fler kunder planerar återgång till sina arbetsplatser har Coor hjälpt till med att säkerställa trygga arbetsmiljöer. Lokalvård har under året varit en strategiskt viktig tjänst för många kunder och ett serviceområde som fortsätter att växa.
Under året genomför Coor två strategiska förvärv; Veolia Technical Management som stärker Coors erbjudande inom teknisk fastighetsservice och hållbarhet samt lokalvårdsbolaget Inspira, med dotterbolaget Middlepoint, som ger Coor en ökad kundbas i mellersta Sverige och attraktiv arena- och bemanningsverksamhet. Genom dessa förvärv har vi på Coor haft glädjen att välkomna 1 650 nya kompetenta medarbetare in i verksamheten, ett positivt tillskott i den svenska organisationen.
Coor tecknade ett nytt och stort IFM-uppdrag för PostNord under årets första kvartal. Bland andra nya uppdrag kan säkerhetsuppdraget för Borealis och lokalvårdskontraktet med Seco Tools nämnas. Utöver dessa tecknade Coor ett prestigefullt kontrakt inom mat och dryck med en myndighet i Sverige. IFM-avtalet med Sandvik Materials Technology förlängdes och likaså lokalvårdsuppdrag med BAE. Uppdraget för GKN omförhandlades och nytecknades.