Page 22 - Nemko - Annual performance - 2021

Board of Directors’ statement
In 2021, Nemko continued to strengthen
and consolidate its global position as a main
supplier of global market access services
through the development of new services and
by expanding into new markets.
To strengthen the market position in Italy,
Nemko acquired IASELAB. The acquisition
has increased capacity within electromagnetic
compatibility (EMC) and created new
capabilities within environmental testing. The
integration is progressing well, and we expect
to achieve growth by being able to offer
Nemko’s services to customers locally.
Nemko AS changed its name to Nemko
Group AS. In this connection, the Norwegian
operations were established as a separate
business unit, Nemko Scandinavia AS. The
purpose of this is to combine all operations
in one subsidiary to the Nemko Group AS to
optimize the overall group structure.
Nemko Group AS follows the strategic initiatives
outlined in the current growth strategy.
These initiatives have proven successful in
generating the expected business results and
strengthening both top and bottom line.
20
The increased complexity in regulatory
requirements, products, customers, and
consumer demands strengthens the need
for third-party actors like Nemko. The market
and end-users demand safe products that
can demonstrate compliance with energy and
environmental requirements. This represents
opportunities for Nemko.
Nemko has gained valuable experience on how
to handle the pandemic, which can be utilized
in 2022. Local authorities’ guidelines are being
followed in the countries in which the Nemko
Group operates. Based on experience from the
past two years and the current development of
the coronavirus, it is our impression that major
negative operational consequences, derived
from the global pandemic, are unlikely in the
forthcoming year.
In 2021 Nemko achieved an annual growth
of more than double of the TIC industry. This
creates a great foundation for maintaining
and strengthening the market position even
further in the coming years through the current
operations and strategic initiatives.