Group report 2022

Dear employees, owners and partners:

The year 2022 is history. We are left with results, experiences, lessons learned - and new growth for our company. In fact, we had the highest turnover ever in 2022 and the order intake for 2023 is at a record high. It has been a very good year for Nordic Steel Group.

We are lucky. We get to help create results and grow with an industrial group that is a leader in its industry in Norway. It is a situation we are extremely grateful to be in. In Europe, it has been a dark year, with Russia's brutal warfare in Ukraine making an impression on us all. In addition, increased electricity and food prices have affected both businesses and private households throughout the year.

As we entered a new year, in January 2022, Norway was under strict corona restrictions. By the end of the year, it seems far-fetched to many that the year started this way, because society and life as we know it returned to normal already from February. Then most restrictions were lifted, people returned from home office, we could receive visitors and attend meetings and fairs again.

Betting on the future

Nordic Steel Group

Nordic Steel is Norway's leading competence center within steel. We are a complete supplier of mechanical production to customers in all industries, within advanced sheet metal processing, welding and assembly. Nordic Steel is a safe and serious partner and workplace. The company is located in modern premises at Bryne in Time municipality. All production takes place in our factory at Bryne. We also have two regional offices, in Oslo and Ålesund.

Nordic Steel Construction is the sister company of Nordic Steel, a solid steel contractor and erection company. 

We will deliver better and faster than anyone else. We want it to make good economic sense to use us. Our vision is clear: We will be the customer's first choice because we know, understand and solve the customer's needs best.

Our background

Since its inception in 2013, Nordic Steel has positioned itself as one of Norway's most serious steel centers. We have all the certifications to deliver the most complex and demanding projects in all industries.

In 2016, the company changed its name from Lie CNC to Nordic Steel. The name change came as a result of the development of the company and marked a stronger focus on the future.

Strong organic growth‍

Nordic Steel Group has had good organic financial growth in 2022. The year ended completely in line with expectations, where we have hit the forecasts that were made. From a turnover of NOK 198.6 million in 2020, to NOK 283.6 million in 2021, we ended up with a turnover of NOK 346.5 million in 2022. The order intake at the end of 2022 has never been higher, with NOK 338.0 million.

The coronavirus pandemic has limited inorganic growth, i.e. external growth, such as acquisitions. Going forward, inorganic growth will be important for the company. "The strategy for Nordic Steel Group states that we will grow both organically and inorganically in the coming years.

Group report 2022

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Growing with our customers

In August, we opened Norway's coolest and most modern welding hall and doubled the size of our production facilities. 

Our strategy is to grow profitably together with our customers. With the new building, we meet our customers' growing need for quality production. The capacity and production possibilities have increased and we can take on even larger assignments.

An important part of this is also that we think long-term, about local, Norwegian industry. We are an attractive workplace and will continue to be so in the future.

High activity in 2022 has given us even more employees. In Nordic Steel Group, we count 110 employees at the end of 2022. We have increased the number of employees in all departments, from technical, production, logistics, sales and project, documentation and purchasing.

A pleasant increase over the past year has been the number of female employees. In January 2022, there were three women employed by the company, but by December 2022, the number had increased to nine. In 2023, there will be even more. It is good for both the working environment, development and operations that we have a variety in gender, age and background.

Renewableenergy biggest

We supply many industries and find that our diversified customer portfolio gives us great advantages. Expertise in many different industries means that we can deliver quality to many industries, and we bring knowledge from one industry to another. 

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