15th of November 2019
– We saw a stable profit development in the third quarter due to a lower market activity during the year, which impacted our growth. Our profit levels where kept by disciplined cost improvements. We maintained our already strong market position despite challenges in our main markets where specifically Sweden was impacted by the uncertain governmental situation in the beginning of the year and the municipalities desire to reduce short-term cost. The number of public tenders where on historically low levels, says Philip Isell Lind af Hageby, President and CEO for Adapteo.
– The low market activity we have seen during the year are now being expressed in lower revenues during the third quarter, with impact on quarters ahead. However, the needs in the public sector remains and our long-term view of the market development stays unchanged. An old and ageing building stock with substantial renovation needs, urbanization, demographic changes, growing number of pupils and enrolled children in day-care centres, a growing elderly population as well modular buildings become increasingly more appreciated in the private sector, says Philip Isell Lind af Hageby, President and CEO for Adapteo.
