Annual Report 2020
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Kristina Ekeblad
Investor Relations Manager
+46 (0)704 130 926
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Annual Report 2020.

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The year 2020 was significantly affected by the COVID-19 pandemic. Despite dramatic changes to society in a short period of time, we quickly and effectively adapted to remote working and carried out necessary restructuring. For the Group, we achieved an operating margin for the year of 8.0 per cent (7.6), despite structural changes. In so doing, we reached all of the financial objectives previously set by the Board of Directors.

We have accelerated our strategic shift in terms of the offering, industry diversification and business model and are now well positioned to respond to the demand for sustainable and user-friendly technology, which we can see is greater than ever.

Sustainability at Semcon.

At Semcon, we are convinced that we make the world a better place – a little bit every day. We create sustainable solutions that improve lives all over the world.

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The development of new technology plays an important role on the journey towards a more sustainable society. Through digitisation, electrification, autonomous vehicles, fossil-free energy recovery and medtech, it is increasingly clear that sustainability is an integral part of our offerings and deliveries.

Integrated approach

Sustainability is an integrated part of our mission, our customer offering and our internal corporate culture. Our sustainability efforts are directed towards the UN’s 17 Sustainable Development Goals and based on our policy for sustainability and quality and on our Code of Conduct, which is based on the UN’s 10 Global Compact Principles.

We have chosen to focus our sustainability agenda on five main perspectives. These perspectives are to pervade our organisation, our offerings, our working methods and our objectives. The five perspectives which we define as essential for sustainable development are:

The year in numbers.

Strong finish to the year, with an operating margin in the fourth quarter of 12.1 per cent (10.0). Operating profit for the full-year 2020 amounted to SEK 130 million (142), yielding an operating margin of 8.0 per cent (7.6). The past year has been challenging in many ways due to the pandemic, but also saw some positive progress partly as a result of the stronger digital trend.

The Engineering & Digital Services business area was significantly impacted by the effects of COVID-19 with falling income and restructuring costs. The restructuring that took place during the year entailed an important strategic shift, including skills shift, and the margin development during the last quarter of the year was strong.

The Product Information business area reported a very positive improvement in earnings and achieved an operating margin of 15.4 per cent (9.4). Earnings per share amounted to SEK 5.70 (6.04).

People first.

Semcon is driven by a genuine curiosity about people and their behaviour. Everything we do is about the people who use our customers’ products and services – the end users. We are just over 1,800 employees in seven countries who put people first and who together make a difference for our customers.

In our employee survey, which is held twice a year, the responses from Semcon employees indicate a sense of community in a good work environment. 80 per cent of employees give Semcon a high score as a recommended workplace, which gives us an Employee Net Promoter Score at the continued high level of +34. We are convinced that diversity in combination with an inclusive culture is a key to success. Every new perspective broadens our understanding of end users.

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