Page 30 - Sector Alarm Annual Report 2020

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the basis for continuous improvements.
The monitored alarm services that Sector Alarm provide, pollute the external environment to a minimum degree. All countries participate in recycling schemes for the handling of old and broken alarm hardware and strive to have a new and modern environmentally friendly fleet of vehicles. In 2020, Sector Alarm has not conducted any research activities, but is engaged in the continues development of prod- ucts and services for the home security space.
The Board of Directors makes continues assessments of the market outlook in the countries that the Group operates in. The penetration for monitored alarms in Europe is only 3-4% and the Board of Directors sees signif-
icant growth potential across
all European countries, also in the Nordics. Sector Alarm is
the second largest provider of professionally monitored alarms for Small Systems in Europe and is well positioned to take advan- tage of the attractive market dynamics and growth opportu- nities in this space. Sector Alarm has a solid foundation in North- ern Europe and the operations
in Norway, Sweden and Ireland deliver solid financial results. The Finnish operation continues to show positive development and has become an important con- tributor to the growth. The newly established Southern Europe-
an markets, Spain and France, are the most promising growth markets in Europe and has con- tinued the positive development in 2020 despite the Covid-19 situation. In line with the expan- sion strategy, Sector Alarm has
recently initiated the process to enter the Italian market.
The Board of Directors considers the outlook for Sector Alarm to be positive. For 2021, the Board of Directors expects only a small increase in cashflow and profit due to continued investments
in growth. The balance sheet is expected to strengthen on the back of positive results.
The Board of Directors are not aware of any matters after the end of the financial year that will have a material bearing on the company’s position and earnings for 2020. Covid-19 will continue to impact Sector Alarm also in 2021.
The safety of our employees, customers and other members of the public is a primary concern and the Group has initiated strict