Flokk annual report 2021: Record performance
(Oslo, 16 June 2022) Flokk, the leading European manufacturer of office seating products, reports record financial results for 2021 and sees a strong start to 2022.
Flokk today published its Annual report 2021, including its comprehensive sustainability report.
Please find the report here.
Flokk recorded revenues of NOK 3,260 million in 2021 (approximately EUR 325 million), an increase of 11 percent from 2020.
Adjusted operating profit before amortisation (EBITA) increased from NOK 452 million to NOK 572 million, resulting in the adjusted EBITA margin expanding from 15.4 percent to 17.5 percent. Reported operating profit (EBIT) increased from NOK 363 million to NOK 480 million.
“Financially, 2021 was a record year for Flokk, and the strong trend has continued into 2022. In the first quarter of this year, reported revenues grew by 18 percent. Our growth and industry-leading margins are firmly rooted in the long-term strategy of Flokk, built on deep industrial design thinking, sustainability, industry-leading efficiency and targeted M&A activities, says Lars I. Røiri, CEO of Flokk.
Through a combination of organic growth and acquisitions, Flokk has been transformed from a Scandinavian player to the European market leader within office seating, with a strong foothold in the US market. In 2022, the UK company Connection was added to the Flokk group, which is now home to ten leading office seating brands.
Moving forward on sustainability
Flokk’s 2021 Sustainability report demonstrates the company’s long-standing commitment to the environment and corporate social responsibility and outlines the company’s specific targets.
Since 2015, Flokk has reduced its carbon emissions per unit produced by 16 percent and its energy consumption per unit produced by 41 percent.
This means Flokk is well on its way toward the 2030 target of reducing CO2 emissions by 55 percent and energy use by 40 percent, per unit produced and per revenue.
The company is also progressing toward the long-term target of 60 percent recycled materials in its products.
“In 2021, we continued to push ahead towards our sustainability targets through several initiatives. One specific example was the introduction of the HÅG Tion task chair. Based on Flokk’s long-standing circular design principles, HÅG Tion is made with nearly 75 percent recycled materials. We are continuously working with our business partners to increase the circularity of our value chains, and there will be further news on this in the near future,” says Mr Røiri.
Flokk is the leading manufacturer of high-quality workplace furniture in Europe, developing a growing family of brands. The company is the proud owner of the HÅG, RH, Giroflex, BMA, RBM, Offecct, Profim, Malmstolen, 9to5 and Connection brands. About 1,800 employees work together to achieve Flokk's vision: Inspire Great Work. The company’s head office is in Oslo, Norway, with main production units in Røros (Norway), Nässjö (Sweden), Turek (Poland), Guangdong (China) and Hawthorne (USA). The company has sales offices in 16 countries: Norway, Sweden, Denmark, the Netherlands, Belgium, UK, France, Poland, Germany, Austria, Switzerland, Singapore, China, USA, Canada and Australia. Flokk products are sold in more than 80 countries worldwide. In addition, Flokk has a 40-year history of structured focus on the environment, enabling the company to be a leader in the development of sustainable furniture. For more information, please visit www.flokk.com
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