7A posts 67% revenue growth in 2022

Annual reports season is here, and one of the first players in Sweden to publish their 2022 books is 7A with an impressive overall revenue growth of 67% compared to 2021. With revenue totalling 285 msek in 2022 they will nab the second highest recorded revenue from a coworking operator after Convendum who recently posted revenue of 356 msek in 2022.

7A breaks down their revenue by type in their annual reports, allowing for insight into both their conference business and their coworking business. Unsurprisingly both their coworking revenue but primarily their conference revenue have grown rapidly in 2022 post pandemic.

Annual Report Summary

Revenue

Coworking revenue 2022 (2021): +56%, 181 msek (116msek)

Conference revenue 2022 (2021): +100%, 94 msek (47msek)

Total revenue 2022 (2021): +67%, 285 msek (170msek)

Costs

Rent and raw material costs 2022 (2021): +29%, -224 msek (-174msek)

Other costs 2022 (2021): +30%, -130 msek (-100 msek)

Total costs 2022 (2021): +29%, -354 msek (275 msek)

Result 2022 (2021): -57 msek (-79 msek)

7A currently leases 23 745sqm of coworking space which means they have an average revenue per sqm of 12 000kr. Their total cost per sqm is 14 900kr. Compared to Convendum who during 2022 had 53 813sqm of coworking space online giving them a revenue per sqm of 6 600kr, and a cost per sqm of 7 900kr.

We asked Kitty Nyberg, Revenue Manager at 7A to comment on the recently published yearly accounts.

"In 2022, we have experienced extraordinary growth that has exceeded our expectations. Our organization has worked hard to identify and find new opportunities in the market. The impressive growth in 2022 is a result of the commitment of our dedicated employees and a strategy that has focused on delivering great products and services to our customers.

As for the future, we look forward with great confidence to continued growth and success. We have laid the foundation to build on our strong position in the market and to continue delivering value to our customers. We are convinced that our competent and committed employees will be the key to continuing our growth journey and that we will continue to be a leading player in our industry.

We are grateful for the trust our customers and partners have shown us in 2022, and we look forward to building strong and long-term relationships with new and existing customers.

Kitty Nyberg, Revenue Manager 7A

As of today 7A has not announced any new openings, nor are they mentioned in their annual accounts.