Alimak Group Publishes Annual and Sustainability Report

On March 19, Alimak Group announced it has published its Annual and Sustainability Report 2023, reflecting progress in execution of its New Heights program in a “challenging macroeconomic environment.” The Swedish manufacturer of vertical-access solutions, including rack-and-pinion elevators, reported revenue of SEK7.1 billion (US$679 million), up from SEK4.5 billion (US$430.6 million), representing a growth of 57%. “The results of 2023 prove that we are on the right track” with the New Heights program, observed Alimak Group CEO Ole Kristian Jødahl. The foundation of New Heights, launched in 2020, was a reorganization of Alimak Group into five customer-centric divisions: Construction, Façade Access, Industrial, Height Safety and Productivity Solutions and Wind. Step two of the program was to secure margin improvements, and Alimak Group has seen margin improvements in all areas. Step three, to be executed through 2025, focuses on driving strong profitable growth, both organic and through mergers and acquisitions.