2019 was a year of growth and development for Relais
Our net sales grew by 36.6%, making it EUR 98.9 million. In addition to growth achieved through acquisitions, we also saw growth in the lighting products group, where we successfully launched several products over the course of the year. Even though we invested heavily in developing our business activities, our profitability remained on a good level. The corporate transactions we completed in Sweden have had a particularly favourable effect on our growth and development.
In May 2019, we implemented the largest corporate transaction in the history of the company when we acquired the Swedish companies AB Reservdelar (ABR) and Huzells i Karlstad AB. ABR has a strong foothold in the Swedish passenger vehicle spare parts market and Huzells is strong in the spare parts market for heavy-duty commercial vehicles. The aim of joining forces was to increase our presence on the Swedish market and to allow us to benefit from synergies between our companies. With this joining of forces, we can offer our customers more comprehensive services and customer support as well as one of the widest product ranges in our sector.
Post-transaction integration work in 2019 progressed as planned. We worked to unify our product range and we have now been able to benefit from greater purchase volumes. We expect to be able to benefit from new synergies from the 2020 financial period onwards.
One of the most pivotal moments of the year was Relais Group’s listing on Nasdaq Helsinki’s Nasdaq First North Growth Market Finland in October 2019. We sought support through listing for the specific purpose of implementing and financing our growth strategy. The venture succeeded and we attracted more than 2,000 new shareholders. Over the course of the year, we also updated our financial management processes and strengthened our organisation.
Chief Executive Officer