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Electrify

Electrify key figures 2023/24

 

The Electrify division offers products and solutions that meet the needs of an increasingly electrified and connected society. Investments in electrical infrastructure and technology that reduce the use of fossil fuels contribute to environmental improvements and a more sustainable society. The area is expected to have underlying annual growth of 5-15 percent in the next few years.

About the division
The division currently consists of 17 businesses with a geographical focus on Northern Europe but with increasing exports. Several strong trends such as the green transition, digitalisation and urbanisation are driving the underlying demand for products and solutions in our increasingly connected society. Many of the companies are market leaders within their field and are displaying stable growth. The majority offer proprietary, electrical and infrastructure-related products, often well-established with long product life cycles.

The customers are mainly found in the segments electrical distribution and transmission, renewable electricity production, railway infrastructure, battery manufacturing and charging, as well as in the deployment of fiber networks, 5G and other communication infrastructure. The ambition is to strengthen the positions in this growing area, which is of critical importance for society, through organic growth and the acquisition of 1-2 companies per year. Sustainability is increasingly a matter of course and the transition to renewable energy is creating good business opportunities.

The division’s businesses can be categorised in five areas, where the companies in electrical connection provide solutions and products for electrical connection systems. The enclosures and technical buildings area offers IP-classed enclosures, cabinets and storage solutions. The division’s three cabling businesses offer a range of customised solutions. The electrical products category includes safety products and systems that contribute to a safer society. Companies in infra products offer unique solutions for effective infrastructure, which contributes to safe communication, electrical and road infrastructure.

About the businesses

The companies in the division all have unique positions within their specific markets, Some of the businesses are described here below.

The division includes the Group’s second largest business Elpress, which is the leading provider of electrical connection systems in the Nordics and a highly respected player also globally. Elpress offers a wide range of connectors with related tools, which together create a high-quality system. Elpress AB has been part of Lagercrantz since 2006 and has performed well for many years. Today it generates annual revenue of approximately MSEK 430. In addition to the strong position in the Nordics, Elpress has a significant volume of exports with subsidiaries in Central Europe, the USA and China. In total, approximately 2/3 of sales are exported. Norwegian VP metall offers implosive electrical connectors, primarily for transmission networks. The company generates annual revenue of approximately MNOK 40 with good profitability.

Elkapsling and Esari are both leading providers of IP-classed enclosures, cabinets and technical buildings. Esari is Finland’s leading manufacturer of technical buildings and protective cabinets for civil engineering. Tykoflex supplies enclosures for splicing in fiber networks as well as robust pipe couplings, both for the most demanding applications. Storage solutions are also offered through the subcontractor Dooman. Enclosures are relevant for customers that build electricity, telecommunications and broadband networks. The products meet strict customer requirements and are supplied with short delivery times. In total, these five companies generate annual revenue of approximately MSEK 480.

In close connection with this, the electrical component companies Norwesco and Letti operate with, among other things, safety switches, stove guards, electric car chargers and fastening materials for cables and wires, Exilight with solutions for evacuation and exit lighting and Enkom Active with sale of electrical-related components and tools for applications within electrical and telecom infrastructure. Annual revenue for these four companies is approximately MSEK 235.

The cable companies Elfac, KPRO and EFC operate with a high degree of customisation close to their main customers in Denmark, Sweden, Finland and Estonia. These operations have delivered on a stable basis in the Group since the turn of the millennium. In recent years, the customer base has been broadened, not least with new customers in railway infrastructure and battery manufacturing. In total, these companies generate an annual revenue of approximately MSEK 340.

The companies NRSCue Dee and Swedwire generate an annual total revenue of approximately MSEK 385. NRS sells permanent road safety in by road and safety barriers and parapets, and, in certain cases, the company also do project management and installation. Cue Dee supplies infrastructure products in the form of aerial brackets and masts for telecoms and the wind power sector. Swedwire is a leading manufacturer of crash barrier wires and also supplies road barrier ropes for electrical infrastructure.