The development in the group continues. NYAB and NYAB INFRA took a real step forward in 2014. The companies successfully met the growth targets and sales for the full year landed at just under 140 million. When we apply successive profit recognition, net sales will be just over 91 million, which means that we have about 46 million sales that are not included in net sales and consequently are not recognized in profit or loss either.
The operating profit for the Group landed at over 8%, which means a clear deterioration towards a fantastic full year 2013, but still well above the industry average. If you also take into account that in 2014 we acquired a construction company and merged the same into NYAB, established ourselves in two new locations and had a growth of just over 100% in sales and even more in the number of employees, and put NYAB INFRA on the track so we may give an operating profit of 8% more than approved.
The order backlog is currently good, just over 150 million are in or have been processed for the year. We currently make the assessment that we will pass 200 million in sales during 2015. The assignments vary and we see increased demand for different variants of partnering projects. We take this as a good grade and a receipt that we are doing the right thing and gaining trust, which we then value and nurture.
At the beginning of 2015, we recruited a CFO, ie CFO, Madelene Ridefors, who with the good help of new employees Katarina Nyström and Helena Öhman structures the existing business and lays a foundation from which we dare and can grow further. A stable team with experience from the world of accounting and auditing in two cases and construction companies in one case. A very important piece of the puzzle for NYAB's continued quality and expansion.
Our growth goals communicated in the first "CEO has the floor" are exceeded and based on the fact that we deliver an end product that provides customer satisfaction. We have a basically uniform growth within NYAB's three business areas and NYAB INFRA, all of which are around 100% and are as fast as we dare to drive in the current situation so as not to suffer from growing pains in any form. Business area Construction is still the single largest business area.
I have several times been asked why NYAB is so transparent in its communication and tells so much about its plans, ambitions etc. The answer to that question is, of course, that we want to be clear. NYAB wants to tell its customers, employees, suppliers and others what NYAB is, where we want it and where we are going. We believe in openness and we believe that it attracts talented people and customers.
Our journey is just in its infancy and after this financial year, a new 3-year plan for growth will be presented and the board works in parallel with the day-to-day operations feverishly to concretize the period 2016-2018, regarding new niches, segments, future volumes, possible company acquisitions etc. When the objective has been clarified and established, the same is presented.
The market in construction is as a whole light and Norrbotten and Västerbotten are to be regarded as good markets. The world market price of iron ore is still a source of uncertainty and a certain amount of concern, but we still dare to see opportunities, albeit with increased risk awareness.
NYAB leans towards many customers and the two single largest LKAB and SSAB together account for less than half of our total volume. Geographically, we mainly stick to northern Sweden also during 2015, and in simple terms it can be said that in the towns of Luleå, Piteå, Kiruna and Gällivare, most of the company's operations take place.
I would especially like to thank our employees for the year 2014. NYAB is you, neither more nor less.
The start-up period for NYAB is starting to be over and we are now starting a massive and intensive work that we call Performance in construction. The wheel does not need to be reinvented and it is a definition (with a necessary reformatting) that one of our largest customers has used. A more detailed description of what Performance in construction stands for can be found on NYAB's website.
In conclusion, I would like to thank the business, cultural and association life in Norrbotten for the faith in the future and optimism that sprouts, from Kiruna IF's rainbow-colored match kit to LKAB's strenuous fight against not entirely influential factors such as government decisions and iron ore prices. Lindbäcks Bygg's investment in a new wooden house factory on Haraholmen and Norrbotten's theater for its fantastic performances. Most are not mentioned at all, but it is we together who make Norrbotten.
- Johan Larsson, CEO NYAB