Page 20 - Sector Alarm Annual Report 2020

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Message from the Board of Directors
2020 was in many ways one of the most challenging years in the history of Sector Alarm. However, Sector Alarm managed to navigate the Covid-19 challenges with high customer satisfaction, improved attrition rates and positive net customer growth proving once again the resilience of the business model.
Highlights 2020
In 2020 the Financial perfor- mance was solid with record high revenues and portfolio EBITDA, total revenues increased by 10% compared to previous year to reach NOK 2,704 million, and
the adjusted portfolio EBITDA increased 14% to NOK 1,490 million. Furthermore, Sector Alarm ended the year with nearly 560.000 customers, up from about 545.000 customers due
to net customer growth of about 15,000.
Customer satisfaction is at the heart of everything we do. In Sector Alarm, we know that with- out happy and satisfied customer we will not succeed nor live up to our vision “Safe customers,
with happy smiles - every time”. Sector Alarm continued to provide an excellent customer service throughout 2020 with customer satisfaction at industry leading levels. The attrition rate improved from 6.3% at year end 2019 to 6.0% at year end 2020.
Customer acquisition activities were significantly impacted by the Covid-19 situation and asso- ciated government restrictions throughout the year. As such, new customers added were well below what Sector Alarm were targeting before the pandemic, but largely in line with 2019 due to a positive underlying momen- tum across all markets.
The performance improvement
program launched in late 2019 remains on track. During the year, Sector Alarm focused on strengthening the digital mar- keting capabilities, introduced
a market leading video offering, improved the go to market ap- proach in Southern Europe and enhanced the use of digital tools and data.
In line with the expansion strat- egy, Sector Alarm has recently initiated the process to enter
the Italian market. Sector Alarm consider the Italian market as
an attractive avenue for future growth and are looking forward to helping keep Italian house- holds and small businesses safer.
Sector Alarm can look back at