No acquisitions or investments were made in 2024 after two major transactions were concluded in the portfolio companies in late 2023: Ballingslöv’s acquisition of Austrian company DanKüchen and Svedberg’s acquisition of Dutch company Thebalux. In December 2023, an agreement was also signed with Norwegian Lea Bank to divest Captum, and the transaction was completed in 2024.

At the end of 2024, Stena Adactum’s portfolio therefore consisted of three listed and seven unlisted companies. Stena Adactum is the main owner of the listed companies Svedbergs, Midsona and Ependion. Of the unlisted companies, Blomsterlandet, Ballingslöv and Envac are wholly owned, Plantehallen and DMC are majority owned and SR Energy and Gunnebo are partly owned. The portfolio companies operate in industries such as kitchens, bathrooms, health food, industry, media production, security and wind power. As Stena Adactum is generally not involved in divesting companies, the portfolio is balanced with dividend-paying companies that have strong cash flows.

The economic situation that affected consumption of durable consumer goods in 2023 due to global uncertainty, high interest rates and inflation gained strength in 2024 and spread to other companies in the portfolio. The recession turned out to be worse than initially feared, which meant that the first half of 2024 was devoted to quickly adjusting the cost levels of operations whilst continuing the strong customer focus.

The companies were very successful in securing gross margins and cash flows while maintaining or even increasing their market shares, leaving room to focus on continued development again for the remainder of the year. One of the strengths of Stena Adactum as an owner is that although there are always demands for profitability in the short term, there is always a long-term perspective.

Wholly-owned Ballingslöv International prepares its own annual and sustainability reports. No key figures are therefore presented in this report. The wholly-owned companies Blomsterlandet and Envac have not prepared statutory sustainability reports for 2024 and are included in this report. A summary of their sustainability work is presented below.

Blomsterlandet

Blomsterlandet strives to be a long-term sustainable player in the flower business, creating added value for customers, suppliers and society through sustainable production methods, responsible business practices and environmentally friendly choices. The company actively works to reduce the negative impact of its operations on biodiversity and climate through carefully selected cultivation methods, certified suppliers and continuous improvement work. At the same time, Blomsterlandet seeks to inspire and educate its customers on more sustainable choices.

Blomsterlandet is also committed to ensuring a safe and secure working environment. In 2024, a number of measures were taken to enhance the safety culture, including training and review of health and safety procedures.

Energy consumption has decreased slightly and Blomsterlandet is continuing its work on energy efficiency measures.

For more information about Blomsterlandet’s sustainability indicators, see pages 78–79 of Stena AB’s Annual Report.

Envac

Envac contributes to the development of smart and sustainable cities by driving the circular economy with pioneering waste management technologies.

In 2024, Envac further developed its sustainability strategy and is now focusing on four core issues: quality of life, minimising emissions, circularity and responsible business conduct. During the year, Envac Sweden implemented a number of successful projects in line with its strategy. Energy consumption in two customer plants has been reduced by 40% and 69% respectively, for example.

One work-related accident leading to absence was reported during the year.

To ensure that the company’s suppliers act in line with the requirements set out in the code of conduct, Envac Sweden engages in ongoing dialogue with its key suppliers.

For more information about Envac Sweden’s sustainability indicators, see pages 78–79 of Stena AB’s Annual Report.