Alleima’s annual report 2023 reveals expansion plans for Kanthal

March 19, 2024

Alleima, headquartered in Sandviken, Sweden, has posted its annual report for 2023. The report shared that its revenues grew organically by 8%, a new all-time-high. Adjusted EBIT grew 27% to SEK 2,141 million year on year, with an adjusted EBIT margin on 10.4%.

2023 marked Alleima’s first year as an independent company, Göran Björkman, President and CEO, shared, “Our 160-year history and the expertise we have gradually developed have given us a solid foundation, and our first year as an independent company has been an exciting journey. In addition to developing the business successfully, we also marketed our new brand and worked to strengthen our brand position and recognition. We received several accolades during the year, including recognition as a Career Company 2024 (a distinction for Swedish employers who offer unique career and development opportunities), a gold medal in the Grand Prix category of The Magnet Employer Branding Awards, and a silver medal from EcoVadis for our Sustainability Rating.”

Gross profit decreased by 3% to SEK 4,579 million (4,713), corresponding to a gross margin of 22.2% (25.6). The decrease was reportedly primarily driven by negative metal price effects.

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Investment in Kanthal

It was reported that the Kanthal division continued to show a positive trend. During the year, it received project orders for Industrial Heating in niche applications such as solar and lithium-ion battery production, as well as pilot orders for electric process gas heaters for the steel industry.

The company also announced investments to expand capacity for industrial heating at Kanthal’s existing production site in Perth, UK, as well as for a new service centre at the facility in Concord, US.

The full report is available, here.

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