Last updated July 24, 2026
About Berner Industrier
1. What is Berner Industrier?
Berner Industrier is a Nordic industrial group that develops and owns specialized technology and industrial companies. Our subsidiaries help customers produce smarter, use less resources, improve quality and create a more sustainable business.
We operate in areas where technical expertise, customer-oriented service and long-term relationships are crucial for success. Examples of operations at our subsidiaries include our own high-voltage electric boilers (Zander & Ingeström), our own screw presses and sludge cleaners (Autofric), distribution and service of water purification equipment such as UV purification (e.g. within Christian Berner). The foundation stone of the group was laid in 1897 when the first subsidiary, Christian Berner AB, was founded in Gothenburg.
Berner Industrier has been listed on NASDAQ Stockholm since 2014, and on the main market since 2017. The third generation of Berner is the main owner through the owner company Gårdaverken, where the fourth generation of Berner are also active.
2. What does Berner Industrier do?
Berner Industrier owns several specialized, niche industrial companies that offer products, systems, services and technical expertise to industrial companies and professional customers.
Our activities are in:
- Industrial processes
- Water and Environmental Engineering
- Energy and infrastructure
- Technical Deployment
- Specialized industrial solutions
3. Why do Berner Industrier exist?
Our societies and industries are constantly facing major challenges. Companies need to become more efficient, use less energy and resources, secure their production and meet increased demands from customers and society. Access to electricity and clean water, as well as wise waste management are some of the areas where our companies are active and solve various specialized problems.
The skilled employees of Berner Industrier’s subsidiaries help customers solve these challenges through technology, specialist knowledge and long-term collaborations.
4. What makes Berner Industrier different?
We focus on owning and developing companies in market niches where competence and customer understanding are more important than size.
Our subsidiaries combine:
- Deep technical knowledge and a strong curiosity to constantly get a little better
- Strong customer relationships
- Entrepreneurial spirit
- Local presence
- Long-term ownership
This creates competitive advantages that are often difficult to replicate.
5. Why do customers choose Berner Industrier’s subsidiaries?
For many customers, the choice is not just about the product. They are looking for a partner who understands their business, can solve problems, improve processes, and contribute to better results over time. That is why many of our subsidiaries’ customer relationships extend over many years.
Growth and value creation
6. How is Berner Industrier growing?
We are growing in two ways:
- Organically by helping existing customers develop and by winning new customers.
- Through acquisitions of well-managed specialist companies that complement our operations and strengthen our position in the market.
Berner Industrier is profitable and capital-efficient, which creates better opportunities to make acquisitions without having to raise external cash. The dual development opportunities create good conditions for long-term and sustainable development, to the benefit of our customers, suppliers, employees and owners.
7. Why does Berner Industrier work with acquisitions?
Acquisitions make it possible to add new expertise, new products and new market positions as well as to increase earnings and grow the Group.
Our ambition is to create a stronger group of companies together than each company could achieve on its own.
8. Is Berner Industrier a Swedish industrial conglomerate?
Berner Industrier shares several characteristics with successful Nordic industrial groups.
Common to all is a focus on decentralized leadership, entrepreneurship, a focus on market niches and long-term value creation.
Berner Industrier’s largest owner with approx. 22% of the share capital is Gårdaverken, a Swedish company controlled by the third and fourth generations after founder Christian Berner. In addition, there are several well-known Swedish and foreign investors in the owner list.
9. What long-term trends do Berner Industrier benefit?
We operate in areas driven by strong structural trends:
- Energy efficiency
- Resource efficiency
- Water management
- Environmental Engineering
- Automation
- Increased technical complexity in industry
- Increased regulations regarding e.g. energy and water use
These are areas where demand is expected to be strong for a sustainable time.
10. How can Berner Industrier create value over time?
Value is created by:
- Grow sales
- Improve profitability and capital efficiency
- Acquiring and developing companies
- Invest capital where it provides the best long-term return
Berner Industrier’s financial targets dock towards these opportunities and entail, among other things, that EBITA shall grow by over 15% over a business cycle, that the return on equity shall exceed 25% and at the same time the debt shall be at a reasonable level, corresponding to a net debt below 2.5x EBITDA.
For investors
11. Why is Berner Industrier interesting for investors?
Berner Industrier combines several characteristics that many long-term investors appreciate:
- Subsidiaries with strong market positions in exciting niches
- Exposure to long-term growth trends
- A decentralised corporate culture attracts talented entrepreneurs and guarantees continued good development of the businesses
- Capital-efficient operations that create the conditions for a good cash flow that enables acquisitions with own cash
- Exciting acquisition opportunities of entrepreneurial companies
Berner Industrier’s adopted financial targets demonstrate an understanding of what creates value. Among other things, that EBITA should grow by over 15% over a business cycle, that the return on equity should exceed 25% and at the same time the debt should be at a reasonable level, corresponding to a net debt below 2.5x EBITDA.
12. What should investors watch in the reports?
The most important KPIs are:
- Growth in order intake as well as sales
- Growth in EBITA
- Cash flow in relation to profit generation
- Return on equity
- Debt position
13. What is Berner Industrier’s financial ambition?
Our ambition is to combine profitable growth with financial discipline and strong cash generation.
The financial targets are described on our investor page. Among other things, that EBITA should grow by over 15% over a business cycle, that the return on equity should exceed 25% and at the same time the debt should be at a reasonable level, corresponding to a net debt below 2.5x EBITDA.
14. How resilient is Berner Industrier in a recession?
No industrial activity is unaffected by the economic cycle. At the same time, Berner Industrier has a broad exposure to different customers, markets and technologies, where the underlying needs are relatively independent of the economic cycle, such as access to electricity and clean water, which contributes to stability over time.
15. What are the main risks?
The main risks are:
- Weaker industrial activity. With businesses firmly anchored in the large, underlying societal needs such as energy and water, a weaker economy means above all that development slows, rather than going backwards.
- Risk of acquiring the wrong company or at the wrong price. Berner Industrier acquires smaller companies at several occasions, instead of a few large, and potentially riskier acquisitions. That limits individual acquisition risk.
- Competition and price pressure. Berner Industrier’s subsidiaries operate in many specialized market niches, which means that the businesses can have leading positions in their respective market niche despite a smaller size. Within each subsidiary there are also often several opportunities to fend off market development.
- Dependent on key people. Berner Industrier’s subsidiaries are run in a decentralised manner, which means that within each subsidiary there are a few important key people. By managing the companies in a decentralized manner, the goal is for key employees to feel a degree of freedom to run and develop their business in their own way, attracting the right individuals to stay. For the Group as a whole, the dependency on key personnel is spread across several people.
Sustainability and societal benefits
16. How does Berner Industrier contribute to a more sustainable society?
Many of our solutions help customers to:
- Lower energy usage
- Streamline resource utilization
- Improve water management
- Reduce emissions and waste
- Extend the life of equipment and facilities
Through solid experience, technical knowledge and a large portion of curiosity, our employees think of smarter ways to solve the many new technical challenges we face as we move towards a more sustainable society.
17. Is sustainability a business opportunity for Berner Industrier?
Yes. When customers need to become more efficient and sustainable, the need for the type of technology and specialist knowledge that our companies offer often increases. Through solid experience, technical knowledge and a large portion of curiosity, our employees think of smarter ways to solve the many new technical challenges we face as we move towards a more sustainable society.
About the share
18. Why do investors choose to own shares in Berner Industrier?
Many investors see Berner Industrier as an opportunity to invest in a growing Nordic industrial group with strong market positions, long-term growth opportunities and a clear strategy for value creation. A good historical return on capital and good development since the new strategy was launched in 2022 also contribute to the interest. Finally, many owners are also attracted by the opportunity to be part of the solution for how we together, in practice, build a more sustainable society.
19. What could make Berner Industrier more valuable in the future?
In the long term, value is created through:
- Sustainable organic growth
- Improved profitability
- Successful acquisitions
- Strong cash generation
- Continued development of the Group’s companies
20. What is the most important thing to understand about Berner Industrier?
Berner Industrier is more than an industrial company and more than a serial acquirer.
Berner Industrier is a group of specialized technology and industrial companies that help customers become more efficient, competitive and sustainable every day. The focus is on long-term value creation over decades, rather than short sprints over a few years. Our high capital efficiency in our own operations and efficient capital allocation between organic growth opportunities versus acquisition opportunities play a major role and give us the opportunity to create good development and return opportunities over a long period of time. That is where our long-term value creation begins.
Quick facts about Berner Industrier and the share
21. What ticker is Berner Industrier’s share traded under?
Berner Industrier’s shares are traded under the ticker BERNER on Nasdaq Stockholm.
22. What is Berner Industrier’s ISIN code?
Berner Industrier’s ISIN code is SE0006143129.
23. On which stock exchange and list is Berner Industrier listed?
Berner Industrier is listed on Nasdaq Stockholm’s main market, in the Small Cap segment.
24. When was Berner Industrier listed on the stock exchange?
Berner Industrier was first listed on Nasdaq First North in 2014 and moved to Nasdaq Stockholm’s main market in 2017.
25. In what currency is Berner Industrier’s share traded?
Berner Industrier’s shares are traded in Swedish kronor (SEK).
26. When was Berner Industrier founded?
The foundation of Berner Industrier was laid in 1897, when Christian Berner AB was founded in Gothenburg.
27. What is the name of the parent company?
The full name of the parent company is Berner Industrier AB.
28. Where is Berner Industrier headquartered?
Berner Industrier is headquartered in Stockholm, Sweden.
29. What financial year does Berner Industrier apply?
Berner Industrier uses the calendar year as the financial year (1 January–31 December).
30. Who is the CEO of Berner Industrier?
The CEO of Berner Industrier is Caroline Reuterskiöld.