Coor creates the best workplace environments in the Nordics

Coor in brief

An eventful year 2023

The year was dominated by new and extended contracts, margin improvement measures and a strong focus on sustainability and innovation.


Sustainability-linked refinancing

Coor signs an agreement on sustainability-linked refinancing of its existing revolving credit facility. The sustainability-linked refinancing reflects Coor’s commitment to environmental and social responsibility. The margin is linked to the achievement of environmental targets related to CO2e emissions (Scopes 1 & 2 and Scope 3), which supports Coor’s goal of achieving net zero emissions, and social targets related to the company’s total recorded injury frequency (TRIF) rate, which is part of the company’s vision of zero work-related injuries.


Committing to Net Zero by 2040

Coor has committed to reaching net zero greenhouse gas emissions by 2040. This is ten years earlier than required for signatories of the Science Based Targets initiative (SBTi). “It feels fantastic that Coor is setting a goal that it is aiming to reach ten years before the date set by the official standard. It is also further testimony to the fact that our sustainability strategy fully supports our vision to become a truly sustainable company,” says AnnaCarin Grandin, President and CEO of Coor.


Among the best in Sweden for gender equality

Coor comes second in the 2023 SHE Index powered by EY ranking and thus maintains a place on the podium as one of Sweden’s most gender-equal companies. SHE Index powered by EY is a tool for assessing companies and helping them to promote gender equality. Companies participate by answering questions in six different categories on the basis of which an individual index is calculated. The index also evaluates the companies’ active efforts to promote diversity and inclusion. In the 2023 survey, Coor received a score of 93 out of a possible 100.


Coor acquires Skaraborgs Städ

Coor signs an agreement to acquire Skaraborgs Städ, which offers workplace FM services with a primary focus on cleaning to a large number of customers in Västra Götaland, Småland and Värmland. The acquisition expands Coor’s geographical coverage in Sweden. Skaraborgs Städ has 800 employees and annual sales of around SEK 400 million. The purchase price (on a cash and debt-free basis is SEK 250 million. The acquisition is financed entirely through Coor’s existing financing framework. Skaraborgs Städ includes the subsidiaries Städtjänst Värmland, Kristinehamns All Rent and Sanmix.


Simply by Coor makes life simpler

Simply by Coor is our new digital platform that makes working life easier for our service users, i.e. the employees of Coor’s customers. Through Simply by Coor, they can access all the workplace services they need during their working week, such as news, lunch menus, meeting food, mail, concierge services and event information. Simply by Coor is fully integrated with Coor’s service delivery, and functions as well as content can be tailored to each individual workplace. The new platform also enables integrations with customers’ or third-party providers’ case management systems, such as room booking and other systems, all with the aim of making the working lives of the service users as easy as possible.


Jenny Lindgren joins executive management

Jenny Lindgren will take over as Senior Vice President Operational Development and Digitalisation on 1 September 2023 and will join Coor’s executive management team. Before joining Coor, Jenny Lindgren was Head of Transformation & Planning B2B at Telia Company. She also has extensive experience from various roles in the IT industry with Cygate, Tietoevry, as well as other companies.


Coor signs IFM contract with Swedbank

Coor signs an integrated facility management contract with Swedbank. The contract runs for four years with an option to extend and is worth around SEK 220 million annually, including estimates for annual variable project volumes. Coor will deliver a broad range of integrated services including cleaning, technical service, administrative services, coffee, fruit, plants and caretaking at all Swedbank offices in Sweden. The contract runs from 15 December 2023.


Extended contract with Aibel

Aibel AS is a leading Norwegian service company that specialises in oil, gas and renewable energy. Since 2014, Coor has been delivering and developing integrated FM services at five of Aibel’s sites in Norway. Coor’s contract with Aibel is now being extended for five years, until 2029. The contract is worth around SEK 200 million over the contract term, not including additional variable project volumes. The contract covers services such as cleaning, reception, restaurant and property management services.


Coor launches action programme for margin improvement

In its third-quarter interim report, Coor presented an action programme aimed at accelerating progress towards achieving the company’s target margins. The action programme includes extended cost control, downsizing through increased harmonization and industrialisation of underlying processes with a focus on cleaning, property management and food and beverages. There is also an increased focus on purchasing to take greater advantage of Nordic economies of scale. Once fully implemented, the action programme is expected to have an annual effect of around SEK 100 million. Costs for the programme are estimated at SEK 40 million, most of which will be recognized in the fourth quarter, when the layoffs are implemented.


Net zero 2040 target validated

Coor is aiming to achieve net zero greenhouse gas emissions no later than 2040. The SBTi has now reviewed our plan and validated that it is consistent with what is required to achieve the research-based target. To achieve the target ten years earlier than required by the standard, we have identified three key areas for our transition: emissions from Coor’s own operations, a shift to more sustainable menus in our restaurants and a more circular flow, both in business models and from suppliers.


Coor in Sweden strengthens and consolidates its offering in security

By merging Addici Security, with 700 employed security guards, and its Security business area, with around 100 specialists in technical security services, Coor creates Addici Security & Technology. The purpose is to enable Coor to meet changed customer requirements resulting from the escalated security situation in Sweden. “We are offering the market an even broader portfolio of security and peace-of-mind services. Through a long-term approach, transparency and intelligence, we create cost-effective solutions that balance risk, damage prevention and damage mitigation measures,” says Andreas Glansborg, CEO of Addici Security & Technology.


Coor named Career Company

For the fourth year running, Coor has been named a Career Company. The award is given by Karriärföretagen, which every year lists employers in Sweden that offer unique career and development opportunities for young talented employees. In naming Coor a Career Company, Karriärföretagen stated: “Through its commitment to the development and well-being of its employees, Coor creates a corporate culture that promotes collaboration, diversity and personal growth. This employer not only offers opportunities for an exciting career, but also the opportunity to be part of a workplace where innovation and well-being are at the centre.”
Andreas Engdahl, CFO of Coor
Andreas Engdahl, CFO of Coor

We are building a stronger Coor for the future

In 2023, we won a number of major new contracts, including Swedbank, and we extended a number of important contracts. We also saw a good level of activity in the market and a very positive trend in our TRIF rate, says Andreas Engdahl, CFO and IR Director at Coor.

Outlook and strategy

Key strategic areas

Coor’s strategic platform sets the direction for the entire business and guides our priorities and decisions.

A Nordic company

The Nordic countries are Coor’s home market. Coor’s proximity to its customers and its knowledge of local conditions enable us to offer customised and flexible solutions. We are attentive to our customers’ needs and work continuously to strike the right balance between economies of scale in the delivery of services and customer adaptations. Coor has some of the largest IFM contracts in the Nordic region, including the contracts with Aibel, Ica and the Danish Building and Property Agency.

Profitable growth

Over the past few years, Coor has had a very successful growth journey, but this growth coupled with external factors such as high inflation and rising interest rates has put pressure on the company’s operating margin and cash flow. To accelerate the company’s progress towards its long-term target margin, Coor is implementing an action programme to achieve even greater economies of scale and synergies while maintaining the company’s leading position in the Nordic facility management market. The goal is to get back on track towards achieving the company’s target margins while leveraging our ability to work together across the Nordic region.

Sustainability in several dimensions

In recent years, Coor has placed particular emphasis on becoming a truly sustainable company. Sustainability – business, environmental and social – should be integrated into everything Coor does. Business sustainability is about running a sound business. Environmental sustainability is about reducing the carbon footprint of our own business and of our customers’ businesses. Social sustainability is based on what is fundamental to us at Coor: respect for the equal value and rights of all people and a safe working environment.

Growth in IFM

Coor is the Nordic market leader in delivering IFM services to large organisations with complex requirements. Coor sees continued growth opportunities in the IFM segment, which is growing faster than the FM market as a whole. A growing number of customers are choosing to purchase the majority of their facility management services from a major service provider with the resources to invest in development and innovation. A service provider such as Coor is also able to create synergies between services by using the same personnel for multiple services and thus reduce the overall cost for the customer. This includes management and governance synergies.

Growth in single services

As a major player, Coor is able to offer high-quality separate services at market prices. The service areas that Coor has chosen to focus on are property services, cleaning, workplace services and food and beverages. These services are included in most customer contracts. Coor experienced growth in smaller deals during the year and aims to continue to increase its market share in this area.

Modern workplaces

In recent years, many companies have been placing a growing emphasis on strategic workplace issues. Hybrid working has evolved rapidly, creating new demands on our workplaces and working methods. There is strong demand across the Nordic countries for our consultants, who help businesses and organisations to create attractive, healthy and inspiring workplaces that will stand the test of time. Coor’s consultants develop strategies and concepts for the modern workplace and take overall responsibility for the implementation of the project.

Operational efficiency

Coor has a strong improvement and efficiency focus and strives to be the best in the industry at delivering services which increase customer value. Continuous operational improvements are an important part of working life for Coor’s personnel. Innovations which increase our customers’ efficiency and reduce the use of resources also help to promote sustainable development.

Attract the best talent in the market

Coor is growing and we are constantly looking for new stars who want to grow with us. For us, people are what matter most. We would be nothing without our motivated and competent employees supporting our customers’ needs. For Coor, it is the employees that make the difference and we are always looking to attract the very best talent to work with us. That’s why we have been engaged for the past couple of years in an employer branding initiative aimed at reaching out to the stars we want to recruit and who we think are a good fit for us.
Coor employees standing in stairs
Outlook and strategy

Targets and results

Developing our business in line with Coor’s vision requires a long-term approach to sustainability. Coor creates value in three dimensions – business responsibility, social responsibility and environmental responsibility – and regularly reports its results in relation to the company’s long-term targets.

Responsible business

Making Nordic workplaces more sustainable

At Coor, we integrate sustainability into everything we do. We set clear and measurable goals for our commercial operations as well as for our social and environmental sustainability management. Our vision is to become a truly sustainable company.

Maria Ekman, head of sustainability, Coor

Sustainability is something that we have to work on together

Coor’s overall goal is to deliver on our financial targets without compromising on respect for people and the environment. Maria Ekman, Head of Sustainability at Coor, sums up our sustainability journey in 2023.

How we help our customers achieve their sustainability goals

Coor’s Carbon Insight shows where we can reduce our emissions

DSB is one of around 20 companies that tested Coor’s Carbon Insight service during the year. Aske Mastrup Wieth-Knudsen, Head of Sustainability at DSB, says that the service is helping DSB to identify areas for improvement and prioritise measures.
Read more

Achieving sustainability through innovation

Innovation is in Coor’s DNA and is a vital part of our business. Jenny Lindgren, Senior Vice President Operational Development and Digitalisation, and Linus Palmkvist, Vice President Service Development Property, talk about how innovation is helping to make us truly sustainable.
Read more

Envirosense promotes the transition to greener workplaces

Offices perform an important function in a hybrid working model. This is shown by our own research as well as external research. As more employers adapt their offices to the new way of working, they also need to make their offices environmentally sustainable. Our new data-driven Envirosense concept has been designed to help our customers to manage this transition.
Read more
A dockyard with a ship

Partnership model creates opportunities for Aibel to develop its business

With a single point of contact to all the necessary facility management professionals, the Norwegian company Aibel can focus on what they do best. This year we celebrate ten years of partnership and prepare to take on new joint projects.

Our employees

Enriching diversity

Respect for the equal value and rights of all people is fundamental to Coor. We are convinced that a diversity of personalities, experiences and knowledge is enriching and that each employee should be treated respectfully and fairly regardless of gender, background or identity. At Coor, everyone should feel that they can be themselves.

There is an openness here, people listen to you and it is possible to change things.
Kristina Johansen, Head of HSEQ
Read full interview
I love everything about my job! The very best thing are my colleagues and I enjoy cleaning.
Suvi Ukkonen, Cleaner
Read full interview
It might sound cliché but it gives me so much joy when I see that the customers are happy.
Christian Reimers, Handyman
Read full interview
My colleagues often come to me with questions or when they need to talk. We are like a family.
Necmiye Göcer, Group leader in cleaning.
Read full interview

Coor in the Nordic region

A leading provider of IFM services in the Nordic market, Coor is also targeting growth in single FM services. We see clearly that the Nordic market has great growth potential.


“Sales were good in 2023 and we signed contracts for a large number of new deals. The contract with Swedbank consolidates our position as a leading player in the Nordic IFM market.”

Number of employees: 6,487
Sales: SEK 6,588m
President: Magnus Wikström*
Significant events during the year
  • At the end of August, Coor in Sweden wins a new IFM contract with Swedbank for a broad and integrated service delivery to all of Swedbank’s offices in Sweden. The contract runs for four years with an option to extend and is worth around SEK 220 million annually, including estimates for annual variable project volumes.
  • Coor signs an agreement to acquire Skaraborgs Städ, which offers workplace FM services with a primary focus on cleaning to a large number of customers in Västra Götaland, Småland and Värmland. The acquisition expands Coor’s geographical coverage in Sweden. Skaraborgs Städ has 800 employees and annual sales of around SEK 400 million.
  • The Swedish business is compensating for the lost contract with Ericsson through new deals, including the property management contract with Locum for Capio Saint Göran Hospital, the IFM contract with Alstom and the new IFM contract with Swedbank. The acquisition of Skaraborgs Städ is also contributing.
* Magnus Wikström, President of Coor’s Swedish operations, stepped down in mid-February 2024. A recruitment process has been initiated to find a permanent replacement and Magnus Wikström is succeeded by an external interim solution until a permanent replacement has been appointed.
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“I am extremely proud of the work we have done in Denmark to harmonise, streamline and centralise our organisation. We have become more efficient and can provide even better service to our customers.”

Number of employees: 3,675
Sales: SEK 3,023m
President: Jørgen Utzon
Significant events during the year
  • Coor signs a new partnership agreement with the Danish real estate company ATP Ejendomme. Through the collaboration, ATP Ejendomme is offering tailored facility management services to its tenants.
  • The Danish business begins a collaboration with, which through its cloud solution helps companies to increase the sustainability performance of a building while also optimising the value of the building. The new partnership gives Coor’s customers access to a digital solution with total transparency on the building’s data. Using this data, the customer can also integrate energy labelling and energy use.
  • In the second quarter, Coor in Denmark launches a project to secure its expected margins, start its harmonization journey and prepare for further growth.
  • Coor continues its determined efforts to strengthen its leading position in sustainable staff canteens. FOOD by Coor in Denmark now operates a majority of all Nordic Ecolabelled staff canteens in Denmark.
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“The biggest win for Coor in Norway this year was the renewal of our contract with Aibel. We want to contribute to Aibel’s success by proposing innovative solutions and supporting their strategic goals.”

Number of employees: 1,733
Sales: SEK 2,130m
President: Nikolai Utheim*
Significant events during the year
  • Coor in Norway wins a five-year contract extension with Aibel. The contract is worth around SEK 200 million over the contract term, not including additional variable project volumes. The contract covers services such as cleaning, reception, restaurant and property management services.
  • The year is marked by many new contracts: Drammen Municipality, Technopolis, Studentsamskipnaden I Oslo (SiO) and IKEA.
  • During the year, Coor’s Norwegian business achieves great success in the food and beverages business area. In 2023, Coor in Norway wins the Matprisen sustainability award in the Commercial Kitchen of the Year category. Coor is given the award for its strong sustainability performance in respect of choice of ingredients and reduction of food waste. Coor in Norway has also received good feedback from the guests through its “Foodback” tool.
*In December 2023, Nikolai Utheim, President of Coor in Norway, chose to leave Coor to take on a new role outside the company, having been with us for 15 years. Stine Solheim will take over as President of Coor in Norway in the second quarter of 2024.
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“This year was revolutionary for us in terms of safety. The number of workplace accidents almost halved compared with last year.”

Number of employees: 1,114
Sales: SEK 703m
President: Marcus Karsten
Significant events during the year
  • Coor’s Finnish business wins several new smaller contracts during the year and also terminates a couple of unprofitable contracts in northern Finland.
  • Coor in Finland is doing an excellent job instilling a strong safety culture in the workplace, ensuring that safety is always a key consideration. The key to success is tireless work based on amsystematic approach and a strong commitment to safety among the employees.
  • Coor in Finland becomes one of the first countries in the Group to launch Coor’s common HR system People Portal. When People Portal has been rolled out throughout the Group, the common system and common processes will enable employees in the HR function as well as Coor’s managers to operate much more efficiently.
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Coor’s customers

Coor is the customers’ partner

Everything we do at Coor is with our customers’ best interest in mind, says Jens Ebbe Rasmussen, Senior Vice President Business Development & Sales, as he sums up the year. On the following pages you can read about some of our activities in 2023: how we provided technical maintenance for the 16-kilometre Öresund Bridge, worked with ATP Ejendomme to develop a sustainable office environment with an attractive service offering, implemented a pilot project with data-driven cleaning and sensor technology at Equinor and handled the cleaning of Finland’s largest shopping centre, Jumbo-Flamingo.

Jens Ebbe Rasmussen, Senior Vice President

Three questions to Jens Ebbe Rasmussen, Senior Vice President Business Development & Sales

A sixteen kilometre long-term collaboration

The Öresund Bridge has been designed to stand for 200 years, which will require rational and efficient maintenance. Since May 2022, Coor has been responsible for technical maintenance along the entire length of the link.

More about the collaboration

Star-class service in a world-class shopping centre

Jumbo-Flamingo is Finland’s largest shopping centre in terms of sales and attracts close to 12 million visitors annually. Coor’s goal is to ensure that its cleaning services meet the expectations of the shopping centre’s tenants and visitors.

Read about the shopping centre

Coor and ATP Ejendomme initiate a partnership for tomorrow’s office properties

Coor and ATP Ejendomme, a Danish real estate company, are working together to meet customers’ need for smart and sustainable offices with good service.

About the partnership

Sensors improve our understanding of how buildings are used

Data-driven cleaning is an important focus area for Coor. At one of Equinor’s offices, Coor has recently completed a pilot project where sensors from Disruptive Technologies communicate with the CleanPilot digital tool and Coor’s digital cleaning plans.

About the pilot