Annual review 2020

Our group companies

Axel Johnson International

Despite an uncertain global- market, Axel Johnson -International reached record profits of SEK 816 million for 2020. Growth is a continued focus and the group’s strategy has proven to work well even during a serious crisis. 

Continued strong profits

The year 2020 was also a challenging year for Axel Johnson International due to the pandemic. However, the effects on sales and earnings were significantly smaller than initially feared. Total net sales amounted to SEK 11.6 billion, a decrease of 4 percent compared with 2019. Of this, organic sales accounted for a decrease of 7 percent, currency effects gave a decrease of 2 percent while acquisitions gave a positive sales effect of 4 percent.

Profit amounted to SEK 816 million, compared with SEK 746 million during record year 2019.

During 2020, a total of eight companies in 30 countries were acquired with a total turnover of SEK 525 million. The acquisitions pertain to both new companies and additional acquisitions in existing companies.  


In China, the local organization has grown from three to 13 people in a short period. The expansion is an important step in continuing to develop the business that works with quality assurance of local suppliers. During the year, extensive work was carried out with a review of suppliers to ensure transparency and sustainability in the supply chain.

“Axel Johnson International’s strategic direction has proven to work well even during a serious crisis.”


Axel Johnson International’s strategic direction has proven to work well even during a serious crisis.

A scalable organization, common digital tools and decentralized decision-making have made it possible for all companies in the group to meet the challenges based on their local markets. 

Recruitment of staff, acquisitions of new companies and customer communication were carried out with good results, despite the lack of physical meetings. Thanks to VR technology, installations, service and maintenance at customers have also been carried out digitally. 


The group is well-equipped for the future, thanks to the diversity of business segments, regions and improved products. Together with a clear strategy and strong business models, the goal is to continue to grow more than each market with a balanced combination of organic growth and acquisitions.

The facts

Axel Johnson International is an industry group that acquires and develops technology-driven industrial companies in strategic niche markets.

Ownership: 100%

Business areas: Driveline Solutions, Fluid Handling Solutions/AxFlow, Industrial Solutions, Lifting Solutions, Power Transmission Solutions and Transport Solutions

Number of employees: 4,436


KEY RATIOS, MSEK 2020 2019
Net sales 11,632 12,095
ProfitAX 816 746
Profit/loss after net financial items 472 329