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    Financial information

    Five years in figures

     

    MEUR     
     20252024202320222021
    Net sales6,219***6,4496,0155,8424,778
    of which outside Finland, %98.498.498.399.298.5
    Exports from Finland2,9562,4662,0601,9751,845
    Personnel on average18,29518,11017,66617,48217,461
    of which in Finland4,4214,1873,9573,8083,687
    Order book7,530***8,3666,6945,9065,859
     
    From the consolidated statement of income
     20252024202320222021
    Depreciation, amortisation and impairment194***131193263162
    Share of result of associates and joint ventures1712963
    Comparable operating result805***
    		694497325357
    as a percentage of net sales, %12.9***10.88.35.67.5
    Operating result810***716402-26314
    as a percentage of net sales, %13.0***11.16.7-0.46.6
    EBITDA1,004***847595237475
    as a percentage of net sales, %16.1***13.19.94.110.0
    Financial income and expenses-5-29-37-6-18
    Result before taxes805***687364-32296
    as a percentage of net sales, %12.9***10.76.1-0.56.2
    Result for the financial period610***507269-59193
    as a percentage of net sales, %9.8***7.94.5-1.04.0
     
    From the consolidated statement of financial position
     20252024202320222021
    Non-current assets2,412***2,5812,5512,5562,539
    Current assets5,8234,9284,2473,9973,982
    Assets held for sale2051845542
    Total equity attributable to equity holders of the parent company2,8772,5252,2252,1352,315
    Non-controlling interests668128
    Interest-bearing debt581766858949973
    Non interest-bearing liabilities4,6064,2643,7133,4893,227
    Liabilities directly attributable to assets held for sale403132-22-
    Total equity and liabilities8,439***7,6946,8036,6066,523
     
    From the consolidated statement of cash flows
     20252024202320222021
    Cash flow from operating activities1,5981,208822-62731
    Cash flow from investing activities-51-149-138-151-128
    Cash flow from financing activities-494-323-308-289-580
    Gross capital expenditure150170149161143
    as percentage of net sales, %2.4***2.62.52.83.0
    Research and development expenses*329296258241196*
    as percentage of net sales, %*5.3***4.64.34.14.1*
    Dividends paid**625***259**188153142
    of which extraordinary dividends**306----
     
    Financial ratios
     20252024202320222021
    Earnings per share, basic and diluted (EPS), EUR1.060.850.44-0.110.33
    Dividend per share, EUR**1.060.440.320.260.24
    Dividend per earnings, %**99.751.573.2-234.973.2
    Interest coverage15.412.39.27.315.0
    Return on investment (ROI), %26.223.713.90.19.7
    Return on equity (ROE), %23.321.312.3-2.68.6
    Return on capital employed (ROCE) %65.437.117.1-1.113.1
    Solvency ratio, %40.537.437.035.338.6
    Gearing-0.70-0.310.020.230.00
    Equity per share, EUR4.894.293.783.623.92
    Working capital (WCAP), EUR-1,263-787-169179-100

    The financial ratios include assets and liabilities pertaining to assets held for sale.

    * Figure in the comparison period 2021 has been restated to reflect a change in the definition of research and development expenditure.    

    ** Based on the dividend proposal of the Board of Directors for 2025.     

    *** Following the classification of Energy Storage as assets held for sale and discontinued operations in June 2026 and its discontinuation as a reportable segment, comparative financial information for 2025 has been restated accordingly. Regarding consolidated statement of financial position: The comparison figures for deferred tax assets and liabilities have been restated to reflect the Group's revised interpretation of the requirements of the IAS 12 standard.

     
    Related information:
    Calculation of financial ratios

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