Business Concept
MEKO is an International corporate group that operates and develops business in the automotive aftermarket. We focus on growth, collaboration, creating synergies and on driving sustainable and digital development in our industry. Our business concept is timeless and is based on enabling mobility – today, tomorrow and in the future – as technology develops and vehicles are used in new ways.
We meet the need for services and products for vehicle workshops and other companies through our market-leading concepts, distribution networks and our efficient logistics chain. Our concepts are also aimed at private and commercial vehicle owners where we meet the need for the service and repair of vehicles.
Market with potential
MEKO operates in the car aftermarket and is market leader in northern Europe with a presence in eight markets around the Baltic Sea, with a total of 75 million people and 35 million cars.
|
|
Denmark |
Estonia |
Finland |
Latvia |
Lithuania |
Norway |
Poland |
Sweden |
|
Population, millions |
5.9 |
1.4 |
5.6 |
1.9 |
2.9 |
5.5 |
36.8 |
10.5 |
|
GDP growth, % |
1.4 |
2.4 |
1.0 |
2.6 |
2.7 |
1.5 |
2.3 |
0.6 |
|
Number of cars, millions |
2.8 |
0.8 |
3.7 |
0.8 |
1.7 |
2.9 |
26.5 |
5.0 |
|
Average distance driven, km |
15.5 |
9.5 |
13.2 |
12.5 |
13.0 |
11.1 |
16.5 |
11.5 |
|
Cars >5 years, % |
74.0 |
89.5 |
86.0 |
92.3 |
93.1 |
76.6 |
91.6 |
81.4 |
|
Purely electric cars, % |
7.1 |
0.4* |
2.6 |
0.5 |
0.68 |
20.6* |
0.1* |
5.9 |
Source: Latest available data collected in February 2024 from Wolk, IMF, Statistics Denmark, Statistics Norway, Finnish Information Centre of Automobile Sector, Polish Investment & Trade Agency, Statistics Poland, Statistics Sweden, Statistics Estonia, Republic of Estonia Transport Administration, National Statistical System of Latvia, Regitra.
*Information on fully electric cars (%) for Estonia, Norway and Poland is in whole or in part based on data from 2022 as data is yet to be released for 2023.
Global trends create new growth opportunities
As a rule, the need for maintenance and repair does not increase until the cars reach an age of five years. At the same time, new automotive technology and other global trends are creating new needs and expectations among the customers, including when it comes to digitalization, sustainability and availability. The need for new solutions and services, regardless of the age of the cars, provides an opportunity for existing actors to broaden and integrate their offers or for new actors to enter the market.
For us, It is important to have a strong understanding of how the market and our customers’ needs change and how we are affected by it. By making use of these driving forces, we create long-term and sustainable growth.
Increased digitalization and automation are clear trends in logistics. New technologies make it possible to monitor transport in real time, reducing errors and delays. These developments make processes faster and more flexible, while contributing to more sustainable operations with reduced energy consumption. Together, these innovations make for a more effective and profitable logistics sector.
MEKO's approach
Our new automated central warehouses in Denmark, Norway and Finland became operational in 2025, boosting our logistics level to a high international standard. These new installations now have the capacity to handle significantly more goods per hour, improving efficiency and reducing costs. For our customers, this means faster deliveries with higher reliability.
Electrification is a key element of the EU’s strategy to reduce emissions in Europe, with restrictions on pure gasoline and diesel cars planned from 2035, while new car manufacturers from Asia are rapidly increasing their market share with new models and brands. The long-term trend is that the share of electric cars in the total car fleet is increasing.
MEKO's approach
We are investing in training to meet the demand for electric vehicle repair and maintenance, while broadening the range of spare parts and technical support to our workshops. Our own initiatives, such as the E+ high voltage certification, ensure that our vehicle technicians have the required knowledge. Our promise is to handle all vehicles, regardless of the technology that powers them.
A long-term structural change is underway in the automotive aftermarket, with existing players expanding and new ones establishing themselves. In line with this development, the digital maturity of the industry is increasing, with a growing share of e-commerce, which intensifies competition in general.
MEKO's approach
We are expanding the number of products carrying our own brands and selling them in more markets. At the same time, we are launching our e-commerce platform Mekster in more countries to meet online demand. We want it to always be easy and attractive to be our customer – which is why we continue to focus on investing in industry-leading digital services.
Sustainability continues to be an important issue for the automotive aftermarket. Both the environmental impact and repair costs can be reduced by making repairs more accessible and competitive. As cars become more sophisticated, the importance of analyzing vehicle data to repair them also increases. The EU is currently discussing who should have the right to this data – the car manufacturer or the car owner.
MEKO's approach
We are committed to contributing to increased sustainability in the industry, including by offering spare parts for more electric cars. We also believe that the car owner should freely own their vehicle data to be able to choose whether an authorized or independent workshop should analyze and repair the vehicle. This results in healthy competition, lower costs for car owners – and a more accessible vehicle aftermarket for all.