The environmental company Envidan has delivered an excellent result in the 2020/2021 financial year despite covid-19.
This is shown in the company’s recently published annual accounts, which show an overall increase in turnover of almost 20% in all three main markets in Denmark, Norway and Sweden, while the bottom line has been significantly strengthened. This means that Envidan feels well equipped for a changing future.
“So far, we have gotten through the pandemic very well, and that is thanks to our employees,” says Morten Fjerbæk, CEO of Envidan, who is very proud of how all employees have kept their spirits and productivity up during a period of working from home and canceled social events. “The commitment of individuals is directly reflected in the results for the year, and I think it is important to recognize that.”
“When covid-19 locked down the country in the spring of 2020, we were very worried about how things would turn out, but fortunately this turned out to be completely unjustified. Our customers have been very conscious of their responsibility to keep society going, and we are very grateful for that. So even though the entire past financial year has been characterized by the pandemic, our figures look extremely reasonable, and both customers and employees have embraced the digital form of collaboration and made the most of it.”
Envidan is ready for more
Covid-19 is not the only parameter that has put Envidan’s employees to the test in the past financial year. In December 2020, the European private equity fund Waterland acquired a majority stake in Envidan, entering the company with an ambitious growth plan and a desire to make Envidan a strong European player in solutions for the entire water cycle.
“We have joined Envidan because we see unique opportunities to build a strong engineering company that grows in depth rather than in width.”
Kaspar Kristiansen elaborates:
“The vast majority of engineering consultancies grow large by broadening the range of solutions across several engineering disciplines, such as infrastructure, bridge building, schools and public institutions etc. This is not the strategy for Envidan, where our ambition is to create a leading environmental company focusing on services within the water cycle. However, it requires two things: 1. That employees can identify with our mission and 2. to make the necessary acquisitions that will contribute to the growth of Envidan. And we’ve already come a long way in our first year as owners, so it bodes well for the years to come.”
So far, Envidan and Waterland seem to be succeeding in their mission. In connection with the sale, a number of employees were given the opportunity to become shareholders in the company, and many of them are now co-shareholders in Envidan, which shows that they are positive about the strategy. This, combined with the fact that Envidan completed the acquisition of Swedish VA Ingenjörerna at the end of the financial year, means that Morten Fjerbæk is very optimistic about the future.
“With the acquisition of VA Ingenjörerna, we gained 47 new Swedish colleagues, and most recently, Norwegian Arealtek with 21 employees has become part of Envidan. Add that to our already strong commitment in Scandinavia and I think we are well on our way.”
For further information
Morten Fjerbæk, CEO of Envidan at
mof@envidan.dk
or +45 40461718
Kaspar Kristiansen, Managing Director of Waterland at
kristiansen@waterland.dk
or +45 21182244
