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ROXTEC
Roxtec sees opportunities
in all directions
Roxtec performed strongly in line with the global recovery after the pancemic,
despite an uncertain start to the year and a market affected by material
shortages, high raw material prices and price increases from suppliers. Gradual
restarts in key markets in 2021 helped Roxtec’s sales to reach the two billion
mark once again. Aggressive new targets for 2025 were set during the year and
will be achieved with new products and a bigger workforce.
“The market has been really dynamic the whole year. We saw
early signs of an increase in demand in the Asian markets,
then things picked up in Europe, and the year ended with a
strong spurt in North America.”
Market movements resulted in Roxtec being more active in
addressing challenges relating to suppliers and logistics during the
year. The company also reviewed its pricing, which resulted in a
number of new price adjustments.
STABLE YET UNCERTAIN
Roxtec supplies complete sealing strips to a wide range of industries
for use on land, at sea and underground. Development for the Industry
& Infrastructure business area continued at a steady and stable pace
during the year, with an underlying expectation that the market will
pick up again in 2022.
Power & Process Industries underwent a strong development in
2021. China in particular made significant investments in offshore wind
power, with large orders month after month. Demand from the nuclear
industry in the US remained strong, while oil and gas investments were
significantly lower during the year.
The cruise ship industry continued to present challenges. The
market for Marine & Offshore was unpredictable as German and
Finnish manufacturers slowed down while customers in southern
Europe were working at full speed.
ROXTEC SETS NEW TARGETS FOR 2025
Sales over the last few years, in combination with the changes in the
market, resulted in a new sales target for Roxtec. Sales are set to reach rubber instead of letting it go to waste.
SEK 3 billion by 2025.
“Reaching over SEK 2 billion in sales in 2021 has put us within
touching distance of the sales record. We’re now planning to exceed
this by a long way in 2025.”
To achieve this, Roxtec has to focus on three development areas:
product development, customer experience and value-added services.
Roxtec will be making major efforts to recruit staff for sales and
support functions, as well as development in 2022.
“We can see opportunities for Roxtec in all directions, and we have to
really focus if we’re to achieve this target. We’re expecting to take on
90 new staff over the next year.”
DIGITALISATION AND NEW LEGISLATION
Continued growth involves digitalisation and service. Roxtec needs
to capture more business by identifying, gathering and presenting
product data and reinforcing its presence in more channels. Roxtec
launched additional software in its digital product portfolio in
2021 so that customers themselves can keep track of installation,
inspection and documentation. Roxtec Transit Operate™ is a
Software as a Service (SaaS) solution that allows all transits to be
recorded and surveyed while ensuring and documenting the quality
of the installations. Roxtec currently also offers its digital products
Roxtec Transit Designer™ and Roxtec Transit Build™ for design and
configuration applications.
Roxtec also performs servicing with on-site inspections, but not
many took place in 2021 on account of clear restrictions on visitors.
New legislation for maritime classification came into force in 2021 and
imposes additional requirements for inspections and documentation.
This paves the way for new opportunities for Roxtec, which is certified
for the inspection of watertight cable transits on board ships and at
offshore installations. Roxtec also offers software so that users can
keep track of the current status and history of transits.
SUSTAINABILITY PROVIDES BUSINESS OPPORTUNITY
Roxtec initiated more structured sustainability work in 2020. In a
sustainable transition, Roxtec’s efforts mainly involve
“protecting life and property”. The company also does its best
to minimise its own footprint and identified clear targets for its
sustainability efforts during the year which aimed to increase
circularity and reduce carbon emissions. Examples include reusing
“We’ve received our first rating from the EcoVadis evaluation system,
so we know exactly what’s happening with our sustainability efforts
right now. The next step will be to break down our work into activities
and actions so that we can meet the targets. We have long-term
owners who don’t believe in cutting
corners. They have every confidence
in us and trust us to deal with this
transition in the right way ourselves.”
CEO Magnus Holmberg
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