400/100/25: Opus Group’s new 5-year strategic plan
For the period 2017-2021, Opus Group today presents a new 5-year growth strategy with an ambition to: grow revenue from USD 200 million to USD 400 million; grow EBITDA from USD 40 million to USD 100 million; and grow the EBITDA margin from 20% to 25%.
In a press conference at 10:00 CET on February 14 in Stockholm, Opus Group, one of the world’s leading vehicle inspection companies, will present its new five-year growth strategy. At the same time, Opus Group will introduce its new organization. The company plans to expand its business operations in Europe, Latin America and the U.S. & Rest of World to double its revenues by 2021.
Growth in established markets will come primarily from U.S. emission inspection equipment revenues through the EaaS business model, and the introduction of the new technology offerings Remote Assisted Programming (RAP Service) and FASTLIGN®. The company expects that the revenues from the vehicle inspection business in Sweden and the U.S. will be flat at good EBITDA margins.
Globally, the company expects significant growth to come from vehicle inspection programs in low and middle income countries. By 2021, Opus Group estimates revenues of USD 185 million in the U.S.; USD 120 million in Europe; USD 50 million in Latin America and USD 45 million primarily in Asia.
In order to support the growth plan, Opus Group is strengthening its group management team (GMT) and organization. The GMT will be increased from four to eight members and will consist of: CEO, CFO, CTO, a VP Strategic Business Development, a Director of Corporate Communications and IR and the segment leaders for Europe, Latin America, U.S. & Rest of World.
Mölndal, February 14, 2017
Opus Group AB (publ)
For additional information, please contact
President and CEO
Phone: 46 31 748 34 00
Phone: 46 765 25 84 93
Opus Group is a leading innovative technology focused growth company in the vehicle inspection market. The company has a strong focus on customer service and innovative technology within IT, emission testing and vehicle communication. The Group had SEK 1,697 million in revenues in 2016 with strong operating cash flow and good operating profitability. With over 1,600 employees, Opus Group is headquartered in Mölndal in the Gothenburg region of Sweden and has 25 regional offices, 20 in the United States and the others in Stockholm, Peru, Chile, Mexico and Pakistan. Opus Group has production facilities in the U.S. in Hartford and Ann Arbor. The Opus Group share is listed on Nasdaq Stockholm.