Celebrating Flokk's achievements in 2023:

A year of global success and sustainable growth
In the face of a challenging global economic landscape, Flokk has achieved record-breaking results with sales revenue of NOK 3,826 million for the full year of 2023. This represents a growth of 3% compared to the previous year, alongside a 16% increase in adjusted EBITDA, reaching NOK 793 million. With more than 90% of its revenue generated outside of Norway, Flokk has positioned itself as a global player in the industry, demonstrating resilience and strategic agility.

Strategic diversification and expansion in the USA 

One of Flokk's key strategies is strategic market diversification and expansion through M&A. The acquisition of New Jersey-based Stylex in late 2023, which will be integrated into the Flokk family in early 2024, has significantly bolstered Flokk's position in the American market. The USA now accounts for about a third of the group's total revenue, marking Stylex as the eighth acquisition for Flokk. 

Scalable operational model 

Central to Flokk's success is the scalable operational model, which allows for adaptation to various market conditions and growth scenarios. Maintaining high productivity and quality while being flexible enough to handle increasing demand and changing customer needs is one of our strengths. With a focus on efficient and automated assembly and supply chain optimization, Flokk has built an operational model that provides a solid platform for sustainable growth and future success. Investments and the re-build of the production facility in Turek, Poland, have contributed to our streamlined production, making it among the most modern facilities in the industry with the capacity to integrate new brands to the site. 

Looking forward with optimism 

"With a record turnover and impressive growth for 2023, Flokk has strengthened its position as a leading player on the international stage for office furniture and workplace solutions. As we look back on the past year, we can proudly say that our dedication to innovation, sustainability, and quality has paid off. Our success in differentiated markets, solidifying our position in our core markets, and investing in scalable operational models has borne fruit, and we are ready to continue building on this progress. With a solid foundation of sustainable growth and a commitment to delivering exceptional products, we look forward to the future and the opportunities that lie ahead. Together with our partners, customers, and employees, we look forward to continuing our journey towards success and innovation in 2024 and beyond," says Lars I. Røiri, CEO of Flokk. 


Click here to read the full annual report of 2023