Triathlon Group’s Industrial Report 2021/22
Triathlon Group’s annual Industrial Report (Verkstadsrapporten) shows that the Western Sweden’s manufacturing industry was initially hit hard by the COVID-19 pandemic in 2020, but recovery has been rapid and forecasts for the future are positive. However, uncertainties exist on how the cost development of raw materials and transports will progress, which is indicated in this year’s report.
COVID-19 hit hard on Western Swedish companies
The largest companies were hit especially hard, as they witnessed a reduction in sales, number of employees, and deteriorating operating margins. The report shows that the 100 largest Western Swedish manufacturing companies experienced a greater negative impact compared to large companies in Sweden as a whole.
“Component and raw material shortages worry manufacturing companies”
The survey clearly highlights that component shortages continue to be a concern, and that this has been a major driver for increasing costs during 2021. Furthermore, 7 out of 10 companies see access to raw materials and components as the biggest bottleneck during 2021 and 2022.
7 out of 10 companies forecast increased sales
Leaving behind a challenging 2020, the 100 largest manufacturing companies in Western Sweden are optimistic about the future, with 72% predicting increased sales and 90% believing in an increased or unchanged workforce 2022. Of the companies surveyed, 95% see increased or unchanged investment levels for 2022 compared to 2021.
About Triathlon Group’s Industrial Report
Triathlon Group’s Industrial Report analyzes annual reports of the 100 largest manufacturing companies in Western Sweden. The 10 largest and the subsequent 90 are compared with the corresponding sample for Sweden as a whole. The report also contains a forecast, based on a survey conducted with the largest manufacturing companies in Western Sweden.