Flokk release 2024 Annual Report

In 2024, we increased our sales and maintained healthy margins despite a challenging market landscape. While several European office furniture markets faced soft demand, this was largely counterbalanced by a positive US market.

Indeed, Flokk’s US expansion has been a crucial strategic move over recent years. It began with the acquisition of 9to5 Seating, followed by Stylex last year, and finally, Via Seating, which joined the group in February 2025. This means that the US market now constitutes approximately 40 percent of our total sales, enhancing our robustness across business cycles as various geographical markets often develop differently.

Download Flokk 2024 Annual Report here

As we keep growing the Flokk brand family, in the US and elsewhere, our strategy is based on leveraging the strong brands we have acquired while actively seeking additional revenue-generating opportunities, such as cross-selling based on a broader product offering, using same products across different brands, as well as operational synergies and the sharing of best practices across the group.

In pursuing this growth strategy, we remain committed to our operational approach, which prioritizes flexibility and resilience. This means maintaining a lean and adaptable cost base by outsourcing functions where we do not create significant added value, such as certain backoffice operations and non core administrative services. This approach ensures cost efficiency while preserving scalability, allowing us to focus on innovation and core business activities. Maintaining our cost-effective operating model is an ongoing process, and we will continue to refine and optimize it in the years ahead.

While we have recently generated M&A-driven growth in the US, we also see exciting organic growth opportunities in our established European markets, not least in Germany, our second-largest market. These opportunities are driven by factors such as back-to-office trends, focus on well-being in the workplace, and sustainability, which has long been at the core of Flokk’s business.

Consequently, we welcome customers in many of our markets increasingly demanding clear and verifiable answers from suppliers on sustainability topics such as supply chain transparency, recyclability, and carbon emissions. Many companies in our industry will find it challenging to provide this level of accountability, and we believe Flokk’s documented strengths in sustainability provide a clear competitive edge.

As this is my first CEO’s introduction to the annual report, I would like to recognize the tremendous contributions of my predecessor, Lars I. Røiri, during his 26-year career at Flokk. I look forward to continuing to work with Lars in his new role as Chair of the Flokk Board as we take Flokk to the next level.

Moving ahead, we are strengthening our focus on strategy execution and follow-up. With a new leadership team in place, we are ensuring the execution power needed to drive profitable growth, operational efficiency, and commercial excellence. By aligning our efforts and leveraging our strong foundation, we will capture market opportunities and further strengthen our position.

I look forward to working with our employees, customers, and partners to take Flokk to the next level.