a year of performance
and overcoming

Nors Annual Report 2021
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find out the key figures
the trust that drives us

the trust that drives us

Throughout our 88-year history, our path has always been defined by the trust within every relationship we build around us. We believe that a truly remarkable attitude is made of years of experiences, challenges and stories to tell.
That is our drive.

Above all, the year 2021 was one made of involvement, ambition and collaboration. These were the main ingredients that contributed to a truly unforgettable journey: a journey that culminated in a year that broke records, challenged reality and faced the future with more energythan ever.

Nors in 2021

a journey that is worth a thousand words

Group CEO’s message

building a vision of future

If 2020 was considered, in History, as an exceptional year, we look to 2021 with one word in mind: overcoming. It was with the adversity of times as background, particularly at an early stage of the year, that our teams faced every challenge, overcoming the uncertainties and endorsing an undeniable capacity to build a firm and consolidated vision of where we want to be and of what truly drives us.

Tomás Jervell
Chairman and Group CEO
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2021 in numbers

2021 in numbers

2021 marked the year when we’ve achieved a new record in the Group’s turnover.

2 041 M€

aggregated turnover
2 041 M€
1 562 M€
2021
2020
ebitda

106,1 M€

68,6 M€
net profit

45,6 M€

14,9 M€
financial autonomy

30,6 %

25,2 %
consolidated
turnover (M€)

1 016 M€

aggregated
turnover (M€)

2 041 M€

aggregated turnover by business unit (M€)

607,3

1 364,3

55,3

14,5

2021 marked the year when we’ve achieved a new record in the Group’s turnover.

2 041 M€

aggregated turnover
2 041 M€
1 562 M€
2021
2020
ebitda

106,1 M€

68,6 M€
net profit

45,6 M€

14,9 M€
financial autonomy

30,6 %

25,2 %
consolidated
turnover (M€)

1 016 M€

Brazil
328,1
Portugal
302,2
Canada
291,1
Africa
92,6
Spain
2,1
aggregated
turnover (M€)

2 041 M€

Portugal
499,2
USA
346,7
Brazil
328,1
Canada
291,1
Turkey
149,7
Spain
99,8
Africa
92,6
Mexico
46,9
Central Europe
187,4
aggregated turnover by business unit (M€)

607,3

1 364,3

55,3

14,5

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our footprint

our footprint

Turnover: 328 M€


Deliveries
Trucks – Heavy Duty: 2 753 
Trucks – Medium Duty: 960  
Agricultural equipment: 211  

Turnover: 47 M€


Deliveries
Construction equipment: 97

Turnover: 347 M€


Deliveries
Construction equipment: 665

Turnover: 291 M€


Deliveries
Construction equipment: 816

Turnover: 499 M€


Deliveries
Trucks – Heavy Duty: 990 
Trucks – Medium Duty: 16  
Construction equipment: 219

Turnover: 100 M€


Deliveries
Construction equipment: 564

Turnover: 187 M€


Deliveries
Construction equipment: 618

Turnover: 150 M€


Deliveries
Construction equipment: 622

Turnover: 63 M€


Deliveries
Trucks – Heavy Duty: 65
Trucks – Medium Duty: 1  
Construction equipment: 85

Turnover: 5 M€


Deliveries
Trucks – Heavy Duty: 64
Construction equipment: 15

Turnover: 17 M€


Deliveries
Trucks – Heavy Duty: 121
Trucks – Medium Duty: 21

Turnover: 8 M€


Deliveries
Trucks – Heavy Duty: 60

(1) Information regarding joint ventures, aggregated at 100%.
(2) In the United States, Turkey, Central Europe, Mexico, Spain and Portugal, the Ascendum Group’s contribution is considered at 100%, although this joint venture is accounted for using the equity method.
people and initiatives

people and initiatives

since 1933, fluent in driving talent

The contribution of our people to the long-decade-long path we have been building is fundamental. We truly believe that is in people and their talent that lies the true determination to shape even greater horizons. In 2021, this emphasis was affirmed more firmly considering the vision for the People and Communication area. With a new strategy, led by a new leadership and based on the organisation’s new governance model, the mission of contributing to a more cohesive and convergent area, under a narrative of consistency and action, was the motto to begin a new cycle.

employees

4 044

nationalitites

30

women in management roles

73

training volume

87 826h

age distribution

32 %

< 35 years
Generation Y

44 %

35 – 50 years
Generation X/Y

24 %

> 50 years
Baby Boomers

support in the construction of a school in Angola

“comunidade nossa terra” association

In Angola, 2021 was the stage for different initiatives of active support within the community. The CEOs of the country’s companies and the employees of the Angola & Southern Africa Corporate Centre held a social intervention action, by building three walls of an unfinished school unit of the “Comunidade Nossa Terra” association. The goal, besides fostering the direct involvement of Nors’ leaderships with the local community, was to help improve the conditions of this association’s children and young people, creating a positive impact in the Angolan community and, in particular, within this community.

nors magazine

new corporate magazine

The year 2021 also marked the launch of the Group’s new corporate magazine, named Nors Magazine. Published biannually, the publication brings together different interviews, news and articles that focus on the numerous projects, themes and the People that make up the organisation. In addition to the digital version, available on internal channels and the Group’s institutional website, a printed version is produced, distributed and delivered to the homes of each of our employees around the world.

we nors awards and annual meeting 2021

corporate events

After a year’s hiatus, the Nors Annual Meeting and the We Nors Awards, an event that aims to recognise the contributions of the Group’s people in areas such as leadership and team spirit, returned in 2021 with the same team spirit as always. Held in digital format, the events were broadcast via live streaming to all employees, present in the different countries in which we operate. This edition had the special participation of “heavyweight” guests: the scenography of the event included two trucks, a wheel loader and a bus, personifying, live and in colour, some of the business areas that the Nors universe comprises.

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annual report 2021

annual report 2021