ANNUAL REVIEW YEAR 2020 EDITORIAL TABLE OF Our product portfolio covers all THE BEGINNING OF A NEW YEAR AND A accommodation and catering areas, CONTENT including background works. Thereby, NEW ERA FOR OUR INDUSTRY our customers can outsource all interior areas to one single trusted turnkey provider. We have developed a new maintenance concept that release our customers from unnecessary hassle Looking at the prospects in the our customers with the acute problems ALMACO IN BRIEF beginning of the year, we were they were, and still are, facing. The and responsibility. In the beginning counting on a year of growth, both first step was to sit down together to of May, ALMACO launched a new product category, Health and Sanitation Our ID for the market and our company. work out new project plans and adapt Our products ALMACO had just opened a new office the scope of works, schedules, and solutions, to help our customers comply 4 in Germany and we had many large, delivery times to better correspond to to the new standards and regulations interesting projects under work and in the situation at hand. We were asked now being developed for the industry. the pipeline. But the whole world was to jump into a few projects last minute, During 2021 we will keep working on new innovations that meet both health in for a big surprise. We were rapidly where our help was needed. A few NEWS forced to recalibrate our plans, targets, projects were postponed or delayed, and sanitation, as well as environmental and short-term strategies. but I am proud to say that we were targets and regulations. Company News able to deliver more projects that we Milestones Last year was tough, to say the least, but originally thought possible. Many of our customers are looking 6 Marine & Offshore Activity in retrospect we can also conclude that into new business opportunities it presented us all with an opportunity As the new year begins, we are all and to support their development, to re-evaluate and reinvent ourselves. I hoping for smoother sailing ahead. ALMACO has been arranging customer- specific training webinars. Besides can honestly say that we have learned a Still, it’s clear that our industry will MARKET INSIGHT great deal during the past year. be struggling financially for a time to from helping and learning together, come. We are extending our turnkey it’s a way for us to stay tuned and in Ferries As the gravity of the pandemic hit us, scope to take on more responsibility, sync with the needs of our customers. Megayachts we quickly decided to sharpen all our allowing our customers to be scalable, Constant dialogue gives us a clearer 12 Offshore senses to become even more alert, work faster and with less resources tied picture of the future and we can see flexible and adaptive in order to help up. trends moving towards a preference for smaller vessels like megayachts, expedition vessels and smaller cruise ARTICLES ships. We also see a growing need for digital and automation solutions for Concepts & Visions project management, operation, and maintenance. ALMACO is focusing 18 heavily on developing our existing and new digital solutions to increase user- friendliness and partially automatize product life cycle management. ONGOING PROJECTS Generally speaking, our strategy is and Viking Glory has always been to stay close to our Vega customers to ensure our business is 22 Flotlog developing in the right direction. We Nobiskrug plan on taking our learnings and close- to-customer philosophy with us to the years to come, and make sure we keep DELIVERED PROJECTS improving and serving the best way possible. Carnival Elation Norweigian Spirit We are entering a new demanding era 27 in our industry, but with time we are certain we will all prosper again as long Editorial by Björn Stenwall President & CEO at ALMACO as we stay patient and resilient, keep working together and set our eyes on GOVERNANCE the horizon. Board of Directors 30 Management Team 2 ALMACO ANNUAL REVIEW 2020 ALMACO ANNUAL REVIEW 2020 3 ALMACO IN BRIEF OUR OFFERING STUNNING SURROUNDINGS AT SEA TURNKEY DELIVERY AND LIFECYCLE SERVICE OF ALL INTERIOR AREAS Eat well, sleep well, relax and enjoy! Our purpose is to create stunning OUR PRODUCTS surroundings at sea that make passengers, crew and workers long back the second they leave. As a full turnkey provider, we offer all hotel and interior living areas and lifecycle service solutions to owners and shipyards in the marine and offshore industries worldwide. We take pride in managing large-scale turnkey projects while making it look easy. Our customers can lean back and leave the hassle to us. We offer total lifecycle support of the complete product line for newbuilding, PUBLIC PROVISION modernization, refurbishment, maintenance, equipment and spare parts CABINS AREAS GALLEYS STORES within each customer segment. MOBILE CABIN SUPER REFRIGERATION 195 40+ 9 14 22 FACTORY STRUCTURES MACHINERY LAUNDRIES NUMBER OF PROJECT OFFICES NATIONALITIES YEARS IN THE EMPLOYEES LOCATIONS GLOBALLY IN OUR TEAM BUSINESS PROJECT MANAGEMENT & CONSTRUCTION NEWBUILD REFURBISHMENT MODERNIZATION SERVICE & LIFECYCLE SUPPORT EQUIPMENT & SPARE PARTS MAINTENANCE 4 ALMACO ANNUAL REVIEW 2020 ALMACO ANNUAL REVIEW 2020 5 COMPANY NEWS OFFICE IN NEW BOARD HAMBURG MEMBER On the second of March 2020 Thomas Lundberg has ALMACO’s new German office joined the company’s Board opened its doors to the public. of Directors effective as of September 24th, 2020. Thomas “Establishing a subsidiary in Germany brings strong experience and allows us to serve our German knowledge in international customers locally, faster and in their own language”, says Frank Röder, Sales business development and Manager in Germany. management. “I think ALMACO has the ingredients that makes for a successful and Photo by Genano stable company. The strong focus on reliability and quality combined with ALMACO AND ALMACO an experimental and pioneer mindset makes the people at ALMACO set very HBM FOUND A EXTENDS FOCUS high standards for everything they do. The company is packed with highly JOINT VENTURE TO SMALLER skilled professionals that are well- known within their field. I am looking SEGMENTS forward to digging in and getting to In December 2020 ALMACO know the company and its people and HBM decided to take a further”, says Thomas. 20 year long successful co- ALMACO puts greater focus on operation even further by smaller vessel segments such establishing a joint venture as ferrys, expedition vessels, in Shanghai, China. megayachts and navy vessels. HEALTH AND The target of the joint venture is to Although about 50 % of ALMACO’s achieve better project and quality business traditionally has come from SANITATION control in projects executed at building cruise ships, we have always Chinese shipyards. ALMACO’s had other segments where we operate Chairman of the Board, Vilhelm as well. With the current market ALMACO launches full turnkey Roberts, says, “We have been situation, we have identified the Health & Sanitary Solutions working with HBM for a long time need to focus more on these smaller to support Ship Owners and and the feelings of friendship and segments, where we already have the trust is mutual. From a practical knowledge needed but that has not help the Maritime Industry in point for view, we continue our been our primary focus. promoting a safe and healthy great partnership as before, but onboard environment. As a part the joint venture gives us better Smaller vessels, like megayachts, of this goal ALMACO signed insight and eases the bureaucratic river cruise vessels, RoPax ferries and burden for both companies. We expedition vessels – segments that we partnership agreements with are looking forward to continuing expect to grow the upcoming years Steripower and Genano. our great co-operation with HBM – have traditionally made up around in the name of the new joint 30 % of our newbuild projects. We are Steripower is a famous hand sanitizer venture, ALMACO-HBM Marine.“ now expecting this segment to grow producer who offers the fastest approximately 10 % the upcoming dispensers on the market. years. Genano is an inventor of revolutionary ALMACO also has long experience air decontamination technology that of working with offshore and navy not only helps fight Covid-19, but projects and these projects have also removes other harmful particles made up roughly around 20 % of our such as microbes, fungus, pollen and newbuild projects, depending on pollution. the year. We are also expecting this Photo by VIking Line segment to become a bigger pie slice. 6 ALMACO ANNUAL REVIEW 2020 ALMACO ANNUAL REVIEW 2020 7 YEAR 2020 OUR MILESTONES JAN ALMACO and Girbau MAR ALMACO completes JUL ALMACO and Steripower fleet supply vessels of the announce partnership. “Jacques Chevallier” class as a څ provision store and refrigeration څ .announce partnership څ machinery delivery for Celebrity visual turnkey project including Apex Hull K34 at Chantiers de supply and installation. JAN ALMACO opens a new office SEP Thomas Lundberg is elected l’Atlantique. to ALMACO Group’s Board of څ .in Hamburg, Germany څ Directors DEC ALMACO and Genano announce partnership to څ APR ALMACO completes FEB ALMACO completes staterooms for Carnival Elation. provide the marine and څ catering modernization project SEP MEYER WERFT and ALMACO څ offshore industries with air complete catering project څ for Norwegian Cruise Line’s decontamination technology Norwegian Spirit in Marseille. MAY ALMACO launches new for Saga Cruise’s The Spirit of that not only helps fight Covid-19, Health and Sanitation product Adventure څ but also removes other harmful category to help its marine and FEB MEYER WERFT Papenburg particles such as microbes, offshore customers overcome the .orders galleys and provision OCT ALMACO completes fungus, pollen and pollution څ pandemic and implement future- provision store project for P&O څ stores for NB719 & NB720 of proof solutions.