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About Ahlsell Contents CEO's statement 3 About Ahlsell 5 Business model, strategy and governance 14 Our contribution to the Sustainable Development Goals 21 Focus areas, goals and outcomes 22 Reduced environmental impacts 23 Responsible sourcing 33 Health and safety 37 Employeeship 41 Corporate governance and risk management 47 Notes 51 Sustainability KPIs 56 GRI index 57 Auditor’s report 57 03
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About Ahlsell – CEO's statement Responsibility and opportunities in an uncertain world 3 A fter two years of the coronavirus pan- demic, we barely managed to take a breath before the next global crisis arose. 2022 will go down in history as being a dismal year with Russia’s invasion of Ukraine, which has affected us all as fellow human beings and has also had major consequences for society and business. The heightened energy crisis, escalating inflation and economic decline in the Nordic region and the rest of Europe naturally also affect Ahlsell’s operations. High energy and fuel costs, impacted supply chains and a trend towards a reduction in investments in the prop- erty and housing sector are all factors we need to take into consideration and manage going forward. 2022 has also been a good year for Ahlsell in many ways. Our business and operations have grown, developed and, above all, functioned well in spite of the turbulence in the world around us. The fact that we operate primarily in the Nordic market, which has nevertheless been relatively stable, and that we are positioned in several different market sectors (construction, industry, infrastructure) makes us robust. With several strategic acquisitions, a strong organisation and a clear direction going forward, we are well equipped for the future. Even challenging times bring new opportunities. We are now seeing how transitioning to the sustainable society we need is accelerating with different means of control and not least through courageous people and companies. Property owners are getting better incentives to improve energy efficiency, and major investments are being made in expanding new, climate-smart industries and in electrification. A lot of private individuals are also changing their behaviours and are making different, conscious choices. Strong growth and good profitability In summary, Ahlsell's 2022 financial results were solid, with good profitability and strong growth. Sales totalled SEK 44 (37) billion, which is equivalent to growth of 19 (12) per cent, of which 15 (11) per cent was organic. Operating profit (EBITA) was SEK 4.9 (3.9) billion. We have had good conditions in all our markets, with all countries increasing in volume and profitability compared to previously. We have also made larger acquisitions overall than a year or so before, with a total net sales increase of more than SEK 6 billion. Strategic acquisitions The acquisition of Danish Sanistål is an important step in our Nordic strategy. We are now a true Nordic player with strong local coverage in Denmark. Sani- stål is a well-managed company that shares our drive and corporate culture, and offers good opportunities to develop and learn from each other in the future! During the year, we also made other acquisitions that complement and strengthen our development towards tomorrow’s sustainable business. Two exam- ples are Solelgrossisten, a company focusing on solar energy, and Grönvold Maskinservice, offering repairs and circular services. Our strategy for sustainable growth is steadfast. While we are working on integrating the companies we have acquired and realising our synergies, we con- tinue to have a high level of ambition to make further acquisitions and consolidate our market position. Strengthened organisation and vision of sustainable development Our company vision “We build a more sustainable society” is indicative of the purpose and level of ambi- tion of Ahlsell’s operations and offering. Sustainability has been a consistent perspective for years, and we are now ramping it up further based on what the outside world requires of us and the potential we see that we have.
