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Comments from the CEO

In many ways, 2022 was a special year for us at Knowit.

Per Wallentin, CEO Knowit

Per Wallentin, CEO Knowit

Demand for specialist competence to develop companies’ digital strategies, business models, and customer experiences was high, and we are closing out another year in which we have grown rapidly, both organically and through acquisitions, with high profitability. However, uncertainty has increased gradually in the outside world throughout the year, and we operate on a market that challenges both us and our clients in a different way than one year ago.

For us at Knowit, the future is about continuing to support companies, organizations, and authorities in their digitalization journeys – where cybersecurity, digitalization, and technical development that speeds up the transition to a sustainable society are at the top of the agenda, for both us and our clients. 

Challenges and possibilities – with profitable growth

A strong start to the year was obvious, with very high demand on all markets and segments. The gap between demand and available resources has been profound all year. For Knowit, this means that we have been able to advance our position on all markets, as a result of our strong brand, both as an employer and as a digitalization partner. On the other hand, costs for retaining and attracting employees have risen. We have also seen the proportion of subconsultants gradually increase in a few larger projects, which has had a negative impact on our margin.

Toward the end of the year, some hesitation was apparent from some clients, primarily on the Finnish market, where the relative proximity to Russia and Ukraine creates increased uncertainty. Overall, the year has been characterized by high activity levels in both sales and deliveries of client projects.

Long-term efforts to create the most attractive employer in the industry

We are continuing to work to create a strong platform to continually develop a Knowit that takes part in driving technology development toward the future. Thanks to very high demand for Knowit’s competence and offer, the work has focused on retaining and strengthening an already strong brand. 

In 2022, we remained highly rated in external rankings of employers in tech, IT, and digitalization, which is very gratifying. I am even prouder that our regular employee surveys show a steady development, with more and more people saying that they would recommend Knowit as a workplace. Having existing employees recommend people in their networks to join Knowit will always be one of our most effective and secure recruitment paths. 

“Overall, the year has been characterized by high activity in both sales and client project deliveries.”


Strengthened position in the Nordic region

A key to Knowit’s continued growth journey is the combination of sound organic growth, supplemented by acquisitions that in various ways strengthen us, geographically or competence-wise. In 2022, our presence in Denmark, Finland, and Sweden has been strengthened by several acquisitions.

In light of the increasing uncertainty in the outside world, the interest in and need for cybersecurity solutions has increased. This is an area where Knowit has had a strong position for several years. Knowit is among the very top players in this area. 

Knowit provides services to industries like telecom, vehicle manufacturing, finance, manufacturing industry, and retail. We have our largest presence in the public sector, which in 2022 provided almost 40 percent of our net sales. Even on a weaker market, we perceive a continued high need to develop and innovate, to adapt business models and processes to meet the need of increased automation and digitalization. This applies even more in the public sector, where digital development projects tend to be less sensitive to the economic climate.

“We continue to work to create a strong platform to continually develop a Knowit that is driving technology development into the future.”


New sustainability targets lay the foundation for active ESG efforts

We took yet another important step in the work to ensure that Knowit is actively contributing to sustainable societal development, with a positive environmental and climate impact and increased inclusivity, when we adopted our new sustainability targets. Combined with our existing financial targets, these ensure that we are navigating toward a long-term sustainable and profitable growth, which is an important goal for us at Knowit.

Thanks to clients, employees, and partners

Knowit consists of a strong team of passionate and committed employees who contribute with their knowledge, experience, and commitment, each day, to help companies in the Nordic region transition to a digital and sustainable society. In 2022, we have developed new, innovative solutions together with our clients and partners, thus laying the groundwork for a continued positive development in 2023.

 

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