Financial Information

2010 Milestones
In 2010, the data center market was characterized by high activity levels from small and mid-sized customers, while we saw a biding attitude for investments in larger projects. The Coromatic Group carried out project for several major customers, including the County of Västmanland, Första AP-fonden, ICA, Linné Universitet and Vestas.

In total, the Group finalized 472 projects and built more than 65 comprehensive data centers. The number of on-going service customers increased by 17 percent and the number of service contracts exceeded 1,600 at the end of 2010.

Two acquisitions were completed in 2010. Skandinaviska Kraftprodukter AB and MaxKraft Halmstad AB were acquired by Coromatic in April. Both companies are market leaders in the area of power supply and emergency power. Skandinaviska Kraftprodukter Group was founded in 1980. Today, the company is a market leader within emergency power. The office and work-shop are based in Halmstad in the South West of Sweden. Skandinaviska Kraftprodukter had a turnover of SEK 51.9 M in 2009. At the time of the acquisition they had 23 employees.

The acquisitions give Coromatic Group improved competence and enhanced resources to offer full-service solutions and to broaden the Group’s offering within the field of power and emergency power in the Nordics.

The Group continues its expansion in the South of Sweden. In November, a new office was opened in Malmö. The new office, which replaces the old office in Helsingborg, is strategically located in close proximity to the entire Oresund region. In order to offer increased availability to contract customers in the South of Sweden and Denmark, the storage facilities have also been extended.

The number of employees within Coromatic Group increased from 183 to 214, based on the average number of full time employees during the year. At the end of 2010, Coromatic Group had 223 employees.

Future Development
In 2010, the aftermath of the global economic downturn led to longer decision making processes for several customers and some larger contracts were affected by this. The first quarter of 2011 shows signs of a turnaround and the order intake of the Group is expected to increase as a result of the customers’ underlying need for strategic and business critical IT investments. During the year, focus will be on achieving synergies within the Group, such as the on-going and successful work of rolling out  the Coromatic data center concept throughout the whole organization, strengthening the business areas Communication and DCIM (Data Center Infrastructure Management), as well as continuing the development of Maintenance and Service.

The Group’s strong market position and comprehensive full service offering amounts to continual good growth opportunities.

Maths Waxin, CEO, Coromatic Group