Nova over half a billion

The agency group Nova Consulting Group (NOVA) delivers record revenue and record results for 2021. The turnover for the Nordics lands pro forma at 540 million kronor with an EBIT margin of approximately 13 percent. The figures include the six Swedish agencies that together generate 137.4 million in 2021. On a Nordic basis, this means a growth of 47 percent. The high growth rate is largely due to acquisitions in the Swedish market. Nova Sweden now includes Cloud Nine, Pineberry, Infunnel, Epinova, Fyr Agency, and Singular Studios.

- We were twelve people just over a year ago when we started the journey. In one year, we have more than tenfolded the workforce and are now planning for continued growth in 2022. All agencies in the group will need to hire more specialists during the year to continue delivering services within the digital ecosystem to all customers. Therefore, we are now investing heavily in becoming the best employer in the industry, where all employees can become co-owners and receive good working conditions, says Michael Jäderlind, CEO of Nova in Sweden.

Growth at record speed

Today, there are just under 140 people employed in the Swedish agencies. But demand is high, and together the agency group expects to be around 180 people by the end of the year. The agency group is also now looking for common premises where they can sit together.

- We are on a record-breaking growth journey in Sweden during 2021. In a very short time, we have managed to assemble a Swedish agency group that can deliver services across the entire digital ecosystem. We have thereby created a really good foundation for our expansion and further development in the Nordics, says Nova's CEO and founder Geir Allan Hove.

Integration in the next phase In addition to the parent company Nova Consulting Group AB, the agency group in Sweden now consists of six different companies: Singular Studios, Pineberry, Cloud Nine, Fyr Agency, Infunnel, and Epinova. In 2022, organic growth is prioritized. However, additional acquisitions of agencies with services that complement the existing agency group may be added to make NOVA a leader in e-commerce, digital marketing, digital service design, and strategic brand development.

- Now we are entering the next development phase where the Swedish agencies will learn from each other so that we can become stronger both together and individually. With slightly more integrated processes, we will also be able to offer even sharper services. In this work, it feels reassuring to have Michael at the helm for the development of our Swedish operations, says Nova's chairman of the board, Tor Malmo.

Six companies in Sweden

Today, the following agencies are part of Nova's Swedish agency group:

• Singular Studios. A strategic branding and design agency with services in brand strategy, strategic design, and strategic execution.
• Pineberry. One of Sweden's leading agencies in digital data-driven marketing focusing on SEO, SEM, and advertising on platforms like Google, Facebook, Amazon, Instagram, and Youtube.
• Cloud Nine. A leading Swedish digital agency that creates, designs, and develops e-commerce platforms.
• Fyr Agency. A total experience design agency that creates positive and relevant experiences in the digital interaction with customers' brands.
• Infunnel. One of Sweden's leading agencies in marketing automation, CRM, digital leads, and digitalization of the customer journey.
• Epinova. Specialists in web and e-commerce solutions as well as digital customer experiences with Optimizely (formerly Episerver) as a platform.

Among Nova's clients in Sweden are C More, SEB, Granngården, Postnord, Permobil, Volkswagen, Sony Music, Houdini Sportswear, Bemz, Doktor.se, Cylinda, Visma, Efva Attling, Filmstaden, Mercedes, and Tetra Pak.

Leading in Norway

NOVA is one of Norway's most successful digital service companies and assists some of Norway's largest brands with strategic consulting, user experiences, design, digital service development, and cloud services. Over the past seven years, Nova has had stable and profitable annual growth of over 20 percent. The company was founded by the current CEO Geir Allan Hove. Since 2020, the Norwegian private equity company Explore Equity has owned a minority stake in the company, which has laid the foundation for expansion in Sweden.