Alimak Group Reports “Accelerating Profitable Growth”

Buoyed by acquisitions and construction- and industrial-related work, Sweden’s Alimak Group reported “accelerating profitable growth” in its 4th Quarter 2022 and year-end report. Order intake increased by 53% to SEK1.39 billion (US$135 million). Revenue, driven by a 25% positive impact due to acquisitions, increased 36% to SEK1.35 billion (US$135.59 million). Alimak Group successfully closed on its acquisition of Tractel^®, a safety specialist that provides working-at-height solutions and services, in November 2022. Organic growth, meanwhile, was weighed down by “continued challenging market conditions for the Wind division and due to deferred equipment deliveries in the U.S. in Façade Access,” Alimak said, observing that it also realized a “positive impact” in the form of a SEK33 million (US$3 million) COVID-19 grant from the U.S. government.