SOS International has published its annual results for 2020
2020 has indeed been an unusual year and it has turned out quite different than expected. Financially, the result in 2020 reflects the lower activity caused by Covid-19. Nevertheless, SOS International is still in a very strong financial position in order to develop and strengthen the market position in the coming years.
The closing of national borders in March caused an abrupt cease of all travel activities. This affected the business of SOS International almost overnight. Our largest business area, Travelcare, has in 2020 experienced a significant decline in activity compared to the past years.
To some extent the Mobility and Healthcare Divisions were also affected during the spring, however the activity level began to normalize during the summer – except for international roadside assistance.
Hence, the limited business activity caused by Covid-19 forced us to reduce the cost base and reduce the number of employees. Despite the need for cost reduction, we have been very careful in order to protect our core assets and retain a certain competence and resource level.
Furthermore, we have continued many of our digital development activities in order to secure a long-term position as the Nordic market leader.
Overall, despite the situation caused by Covid-19, SOS International has grown its customer portfolio and managed to gain new customers. SOS International is still
in a very strong financial position in order to develop and strengthen the market position. For this purpose, the owners of SOS have supported SOS International and shown their strong commitment through a capital increase.
Read the full report here
I hope you enjoy the report.
Niels Krag Printz
SOS International Sustainability report 2020
This is our Sustainability Report where we account for our continual improvement of our three sustainability focus areas;
1) People & Health
2) Climate & Environment and
3) Ethics & Security.
We believe that acting as a responsible organisation is the right thing to do and a coherent effort will ensure a sustainable development in line with our business.