Year 2022
It sounds like Husverket had a successful year in 2022 despite the challenges in the construction sector. Showing strong growth, starting up a new house factory and being named Gazelle Company of the Year for the second year in a row are impressive achievements. The recruitment of additional project and supervisory staff indicates that the company is actively investing in managing and leading more and more complex construction projects. Being a Gazelle company usually means that the company has a high and stable growth rate and meets other criteria such as profitability. This award is often a sign that the company is well managed and has good prospects for the future. Starting up a new house factory is also a significant step and may indicate an increase in production capacity and the ability to meet an increased demand for house construction. In conclusion, Husverket appears to have successfully addressed the challenges faced by the construction sector during the year and positioned itself for continued growth and success in the future.
The year as a whole was heavily influenced by Russia's invasion of Ukraine, which had major consequences for the entire construction sector. As a result, we saw extremely large increases in raw material, fuel and electricity prices. This, in turn, has meant that the cost of manufacturing turnkey houses has increased significantly.
With increased inflation and higher interest rates, expressions of interest in the latter part of the year fell by around 25%. The conversion time from submitted expressions of interest to signed agreements has also been affected as the customer's decision-making process and securing financing solutions have taken longer than before.
Despite previous challenges, Husverket has had strong and continued good growth. Turnover has increased by 35% and operating profit by a full 56% compared to the previous year.
We believe that the increased growth is mainly due to the strong position that Husverket has in the market, not least through online viewings when searching for attefall and holiday homes. The fact that we can demonstrate financial stability and security is probably also a strong contributing factor to customers choosing us over other suppliers who cannot offer the same security.
In order to handle more and more complex construction projects, the workforce has been strengthened in project and work management and the new business system and other digital processes are now implemented throughout the business. In this way, we ensure that no details are missed during design, official procedures, construction and completion. Husverket will continue to develop and refine the system in 2023 to further improve customer satisfaction.
During the year, Husverket was also named a Gazelle company by Dagens Industri and the management was nominated for the Entrepreneur of the Year award in Stockholm.
The Swedish house factory in Borlänge was established in March 2022 with a total of 15 employees. A great deal of focus has been placed on quality assurance and streamlining ordered production in the factory. Through its sister company, Husverket sees great development potential where prefabricated apartment buildings and smart packaging can open up further opportunities and new business areas. Collaboration with housing developers in and outside Sweden has begun, along with the geographical spread of our operations to the rest of the Nordic region.
Stern Bostad, which is our third sister company, was started up in 2022 and will primarily conduct its business with the development of its own housing projects in BRF form. A number of parcellable plots in Haninge were acquired during the second part of the year and a BRF was formed with a total of 18 homes. The homes are architect-designed, modern semi-detached and semi-detached houses with basements. Most of the homes were sold in 2022 and in Q2 2024 the homes are planned to be ready for occupancy.
