The target was set almost ten years ago. In 2018, it was reached and exceeded. Piteå company Wibax is now part of a select band of companies in Sweden’s Norrbotten region with a turnover exceeding 1 billion SEK. “We aimed to reach the goal by 2020, but last year, we already had a turnover of almost 1.2 billion SEK”, explains CEO Jonas Wiklund. “Additionally, we have managed to increase our turnover year by year whilst remaining profitable and we have also exceeded our profit target for 2018. This feels great and it was of course made possible by the incredible efforts and engagement of our staff.”
The family business, Wibax, delivers chemical products to primary industry in Europe and in the last year, the main driving force behind the increase in turnover was an increase in bio oil sales.
“We offer customers a total solution concept for conversion to bio oil, after which we deliver the product”, explains Jonas. “It is especially motivating to see that sector growing so quickly, as it harmonises well with our ambitions to be a sustainable chemical producer.
Other reasons for the success are a major increase in sales of the company’s own products, a booming industry and positive developments in terms of both volumes and pricing.
Competition in Different Sectors
Wibax’ position as producers, advisers and suppliers of chemical products, backed by well-developed logistics, is rather unique. According to Jonas Wiklund, it is difficult to find a direct competitor offering the same total solution concept – instead, they face fierce competition from different companies in their various fields of business.
“We need to increase our market share, partly by assuming greater responsibility throughout all stages of the value chain. At the same time, our strength lies in always being available to our customers and delivering products safely and on time.”
Tripled Turnover
Part of this includes further investment in the company’s own chemical products. A recently extended production permit in Piteå means that Wibax is now, amongst other things, planning to triple turnover generated by their own products by 2025. An effort which will result in both investments and new jobs. Wibax currently has 180 employees.
“We are now investing 140 million SEK in increased production, larger terminals and expansion of our Piteå office.”
In other words. Wibax has already started working towards new goals. These new goals are focused on continued growth and a net profit of at least five percent.
Flexibility and Recovery
“My father always said that you have to have money in order to make money and that is our philosophy too”, says Jonas. “The tremendous development that we have experienced now gives us a bit of flexibility and the ability to pause and recharge our batteries for the future.”
How are you celebrating the fact that you have reached this billion target?
“So far, we have kept it rather low key, celebrating with cake, but later in the year, we will be putting it more in the spotlight, together with all our staff. A surprise is waiting, says Jonas Wiklund, CEO Wibax Group”
