Stepping up for growth - Cover image
Stepping up for growth - Cover image

Stepping up for growth

January 20th, 2021

The Nordic region's leading network of Creative and Tech agencies weathered the storm of 2020, securing a solid revenue and a strong margin. Targeting further international growth in 2021, Group CEO Thomas Høgebøl is stepping up as Chairman, leaving his previous role in the capable hands of current head of NoA Denmark and &Co, Mikael Jørgensen.

NoA is the Nordic region's leading network of Creative and Tech agencies, devising innovative strategic paths to growth in order to turn the ‘new normal’ into the new remarkable.

“Customer orientation is becoming increasingly important for our clients at the same time as new technology and new channels create both complexity and opportunities. NoA aims to further scale its established platform - also in new markets, where the task is the same; assist clients in combining creative and technological solutions to create growth through a holistic customer experience", Høgebøl says.

Strengthening management

As a consequence, NoA is strengthening the group’s management setup. Thomas Høgebøl will be stepping up to lead the development as executive chairman of Noa Group, while the Head of Danish operations, Mikael Jørgensen, will fill his former position as Group CEO.

“We were ambitious in 2014 when we shared our dreams and goals. We wanted to build the leading Nordic network of Creative and Tech agencies, employing the best talents. I believe we have succeeded. Now we are ready to accelerate growth, and scale the platform we have built. It requires setting new goals internationally while working to develop NoA in collaboration with our partners and owners. Mikael (CEO in Denmark) has done a fantastic job for NoA in Denmark, including data-driven marketing and the development of our integrated service offering. As new group CEO, and with strong support from country managers in Norway, Sweden and Poland, Mikael will write a new and exciting chapter for the NoA family,” Høgebøl says.

Mikael Jørgensen is looking forward to taking over as group CEO.

“I am enormously honoured to be able to accept the baton from Thomas. Despite the coronavirus pandemic, NoA is stronger than ever. The talents of NoA are truly top class and now we will lift our collaboration model, our culture, and our competencies to a new level, both in the Nordic region and internationally. That is why I am looking forward to getting started, meeting new faces, both clients and in NoA,” says the new CEO.

A strong 2020

NoA was affected by the pandemic, as were most international businesses,but did not suffer a financial setback. A net revenue of MNOK 945, in line with 2019, with strong underlying profitability across all markets, which underlines NoA's strong position and value proposition to customers.

“The Covid 19 pandemic has had a severe impact on individuals, families, societies and businesses. Many of our key clients suffered a serious blow. We did our best to stand by them through the crisis. As a result, our clients stick to our services, and Noa achieved solid financial results", says Høgebøl.

Høgebøl underlines as a key success factor, that the NoA family is working in increasingly close collaboration to deliver comprehensive services to customers with complex needs.

“In 2020, the share of revenues across NoA family companies increased because customers see a growing need to combine creativity and technology,” says Høgebøl.

NoA's current chairman Fredrik Gyllenhammar Raaum from Norvestor will be deputy chairman, and he is enthusiastic about NoA's future and the management changes being implemented.

“When the NoA management and Thomas Høgebøl find a strong CEO candidate from within the group, and at the same time, continue with unabated strength to ensure further growth and expansion, we see it as a seal of quality for NoA's culture and management. We believe that NoA is in the process of consolidating a very attractive and unique position in the Nordic market, while meeting new customer requirements. We look forward to supporting the NoA management further and raising our ambitions a few more notches,” Gyllenhammar Raaum says.

Høgebøl cites a world-class mix of competencies and capabilities built across the group in recent years, together with the unique culture, as the basis for much of the resilience, delivering strong results in 2020, with potencial to strengthen significantly in the years to come.

“Our data and technology-driven services and products are becoming increasingly important in a world where changes in climate, society and business are increasing in strength. The same services have proven to be very useful in 2020 - a year where we have all been put to serious tests. In particular, there has been a great need for advice and NoA's ability to link different competencies and services together”, says Høgebøl.

Customers stay

“Although revenue from hard-hit key clients in sectors such as the travel industry came to a complete halt, recurring revenue last year was a staggering 55%. Clients stayed. In addition, new industries and clients, especially within the B2B segment an gaming industry have emerged and helped secure a solid fiscal performance for NoA in 2020. One particular customer started at zero in 2019 and went on to become a top 3 NoA customer”, Høgebøl says.

In record time this segment has experienced strong growth. NoA is now working with four of the world's leading gaming companies. The pandemic has also made e-commerce a definite must-have. NoA could potentially see double-digit revenue growth from the ongoing M&A discussion within e-commerce in 2021.

New acquisitions

In 2020, NoA acquired the Swedish company Peregrine, which is part of NoA Connect and which has strengthened the group's expertise in data-driven sales and marketing. Together with other initiatives, this has increased growth by 75 per cent in this segment.

For more information:

Thomas Høgebøl +47 950 92 000 //
Mikael Jørgensen, +45 20 30 66 13 //

Thomas and Mikael