A year of focus and progress

The stabilisation and control measures implemented in 2025 resulted in stronger key performance indicators for the full year.

Ola Klingenborg, President & CEO of Coor

The stabilisation and control measures implemented in 2025 resulted in stronger key performance indicators (KPIs) for the full year, with an operating margin of 4.8 (4.4) per cent and a significantly improved cash conversion of 99 per cent (compared with 57 per cent in 2024).

How we achieved stability

In Sweden, we restructured our staff organisation to move closer to our customers and operational staff to create more efficient and predictable deliveries. We also introduced a new, simplified organisation at Group level to strengthen our ability to deliver attractive services with high operational efficiency and profitability.

In Norway, our teams delivered strong results, both in the underlying business and in terms of variable volumes, and several large customers renewed their contracts with us. Among others, our agreement with Equinor was extended by five years at a value of SEK 260 million annually.

While Finland was stable, Denmark faced a challenging year involving contract losses and management changes. We now have a new President in place who has a clear plan that is expected to have a commercial impact in 2026.

Technology and resilience top customer agendas

Despite economic uncertainty and global turbulence, Coor’s customer base provides stability and resilience. We have numerous public sector contracts in all our markets and have successfully grown in the private sector, not least through strong deliveries to the oil and gas industry in Norway. This balance between public and private-sector customers makes us less sensitive to economic fluctuations and creates the conditions for long-term growth.

Our customers’ needs are essentially the same: frictionless operations and solutions to everyday challenges at workplaces and production sites, allowing them to focus on their core business. We expect property operations to be a key growth platform in 2026 and are working to strengthen our skills and capacity in this area.

One trend we expect to continue is the growing technology complexity of buildings. As an FM provider, our expertise and range of services in sensors, AI and smart operations are therefore becoming increasingly important when it comes to managing our customers’ properties.

We have also seen that physical and digital resilience are becoming more critical in Nordic workplaces. Building on our report “Join the Workplace Revolution: From Risk to Resilience,” we engaged in many conversations with customers during the year about how we can work together to become more resilient to external threats, from climate impacts to security risks.

According to the report, seven of ten Nordic property owners prioritise increased resilience at their properties. These insights have provided us with valuable guidance for developing our services and strengthening our role as a proactive partner in a changing world.

As an FM provider, our expertise in sensors, AI and smart operations is becoming increasingly important when it comes to managing our customers’ properties.

Ola Klingenborg, President & CEO of Coor

Developing services that create value

During the year, we shifted our focus from centralised innovation development to everyday innovations close to customers and our operations. We launched our first AI agents, with a focus on streamlining and improving the performance of our operations centres.

This type of practical innovation creates faster value for our customers and employees, and for Coor. One example is our use of automated case management at our operations centres, where incoming emails and text messages are classified and converted into work orders in real time.

Further AI solutions are in the pipeline, including solutions to enable more efficient employment contract management and automated supplier contract reviews. These initiatives are making us more competitive and show that innovation at Coor is about making tangible improvements that provide direct business benefits for us and our customers.

Sustainability from target to delivery

On the environmental side, we increased the share of suppliers committed to the Science Based Targets initiative (SBTi) that have had their climate targets validated. We significantly reduced our greenhouse gas emissions from our restaurant operations and continued to electrify our vehicle fleet at a rapid rate.

In terms of social responsibility, we continue to support safe working conditions, collective bargaining agreements and systematic work environment management, particularly in relation to injury prevention. During my first year in the Group, I have heard many powerful personal stories showing that working at Coor actually changes people’s lives.

As one of our employees – our Employee of the Year – put it: she came to Norway hoping for security and opportunities, and working at Coor has given her a sense of community, belonging and motivation in her everyday life.

Day-to-day leadership

As the Group’s new CEO, I have visited all of our Nordic operations on several occasions during the year. I have spent time at the sites where we conduct cleaning, building maintenance, restaurant and reception services.

Gaining an in-depth understanding of how our services are delivered to customers is an important part of leading a company like Coor in a time of transition. I have witnessed Coor’s strong culture, with a genuine passion for service and an impressive breadth of expertise – from maintaining the Öresund Bridge to cleaning in hundreds of locations such as oil platforms, hospitals and manufacturing industries.

As a leader, I want to help create a sense of pride in the impressive work we do across our Nordic markets.

Employees and engagement

This year’s employee survey shows that our Employee Motivation Index (EMI) remains high, up from 77 to 78. This indicates a stable level of engagement in many parts of the operations, although with variations between different areas of Coor.

Our EMI increased in all countries, an indication of our strength following a year of major transitions. I would like to express my respect for our employees’ efforts and professionalism in such demanding circumstances.

Our first line managers play a more important role now than ever before. They instil confidence and bring a sense of direction to our everyday operations, and help their teams see how our work contributes to keeping critical social functions running.

My sincere thanks to all our employees for your contribution in 2025. This year demanded a lot from all of us. Our success was made possible by your combined efforts in challenging times – and this makes me particularly proud.

We operate in an attractive Nordic market with many growth opportunities in all our service areas.

Ola Klingenborg, President & CEO of Coor

Growth in an attractive market

With a stable foundation, we are now shifting our internal focus and looking outwards. We operate in an attractive Nordic market with many growth opportunities in all our service areas – cleaning, property maintenance, IFM, and food and beverage.

The challenge is not a lack of assignments, but the need to prioritise among everything we want to do. What drives us is continually streamlining our deliveries and prioritising the areas that create the most value for our customers and for Coor.

Our strategic priority for 2026 is to achieve sustainable growth by scaling up existing customer assignments, winning more tenders and continuing to improve our delivery capabilities so that we can consistently create value for our shareholders, customers and employees.

Finally, I would extend a warm thank you to our customers and shareholders for their continued trust in us. Our focus remains firm: stable deliveries, cost discipline and profitable growth.

Ola Klingenborg
President and CEO
March 2026