| MEUR | |||||
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Net sales | 6,914 | 6,449 | 6,015 | 5,842 | 4,778 |
| of which outside Finland, % | 98.4 | 98.4 | 98.3 | 99.2 | 98.5 |
| Exports from Finland | 2,956 | 2,466 | 2,060 | 1,975 | 1,845 |
| Personnel on average | 18,295 | 18,110 | 17,666 | 17,482 | 17,461 |
| of which in Finland | 4,421 | 4,187 | 3,957 | 3,808 | 3,687 |
| Order book | 8,248 | 8,366 | 6,694 | 5,906 | 5,859 |
| From the consolidated statement of income | |||||
|---|---|---|---|---|---|
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Depreciation, amortisation and impairment | 211 | 131 | 193 | 263 | 162 |
| Share of result of associates and joint ventures | 17 | 12 | 9 | 6 | 3 |
| Comparable operating result | 829 | 694 | 497 | 325 | 357 |
| as a percentage of net sales, % | 12.0 | 10.8 | 8.3 | 5.6 | 7.5 |
| Operating result | 833 | 716 | 402 | -26 | 314 |
| as a percentage of net sales, % | 12.1 | 11.1 | 6.7 | -0.4 | 6.6 |
| Comparable adjusted EBITA | 1,045 | 712 | 518 | 349 | 388 |
| as a percentage of net sales, % | 15.1 | 11.0 | 8.6 | 6.0 | 8.1 |
| Financial income and expenses | -5 | -29 | -37 | -6 | -18 |
| Result before taxes | 828 | 687 | 364 | -32 | 296 |
| as a percentage of net sales, % | 12.0 | 10.7 | 6.1 | -0.5 | 6.2 |
| Result for the financial period | 630 | 507 | 269 | -59 | 193 |
| as a percentage of net sales, % | 9.1 | 7.9 | 4.5 | -1.0 | 4.0 |
| From the consolidated statement of financial position | |||||
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Non-current assets | 2,447 | 2,581 | 2,551 | 2,556 | 2,539 |
| Current assets | 5,823 | 4,928 | 4,247 | 3,997 | 3,982 |
| Assets held for sale | 205 | 184 | 5 | 54 | 2 |
| Total equity attributable to equity holders of the parent company | 2,877 | 2,525 | 2,225 | 2,135 | 2,315 |
| Non-controlling interests | 6 | 6 | 8 | 12 | 8 |
| Interest-bearing debt | 581 | 766 | 858 | 949 | 973 |
| Non interest-bearing liabilities | 4,606 | 4,264 | 3,713 | 3,489 | 3,227 |
| Liabilities directly attributable to assets held for sale | 403 | 132 | - | 22 | - |
| Total equity and liabilities | 8,474 | 7,694 | 6,803 | 6,606 | 6,523 |
| From the consolidated statement of cash flows | |||||
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Cash flow from operating activities | 1,598 | 1,208 | 822 | -62 | 731 |
| Cash flow from investing activities | -51 | -149 | -138 | -151 | -128 |
| Cash flow from financing activities | -494 | -323 | -308 | -289 | -580 |
| Gross capital expenditure | 150 | 170 | 149 | 161 | 143 |
| as percentage of net sales, % | 2.2 | 2.6 | 2.5 | 2.8 | 3.0 |
| Research and development expenses* | 329 | 296 | 258 | 241 | 196* |
| as percentage of net sales, %* | 4.8 | 4.6 | 4.3 | 4.1 | 4.1* |
| Dividends paid** | 624 | 259** | 188 | 153 | 142 |
| of which extraordinary dividends** | 306 | - | - | - | - |
| Financial ratios | |||||
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Earnings per share, basic and diluted (EPS), EUR | 1.06 | 0.85 | 0.44 | -0.11 | 0.33 |
| Dividend per share, EUR** | 1.06 | 0.44 | 0.32 | 0.26 | 0.24 |
| Dividend per earnings, %** | 99.7 | 51.5 | 73.2 | -234.9 | 73.2 |
| Interest coverage | 15.4 | 12.3 | 9.2 | 7.3 | 15.0 |
| Return on investment (ROI), % | 26.2 | 23.7 | 13.9 | 0.1 | 9.7 |
| Return on equity (ROE), % | 23.3 | 21.3 | 12.3 | -2.6 | 8.6 |
| Return on capital employed (ROCE) % | 65.4 | 37.1 | 17.1 | -1.1 | 13.1 |
| Solvency ratio, % | 40.5 | 37.4 | 37.0 | 35.3 | 38.6 |
| Gearing | -0.70 | -0.31 | 0.02 | 0.23 | 0.00 |
| Equity per share, EUR | 4.89 | 4.29 | 3.78 | 3.62 | 3.92 |
| Working capital (WCAP), EUR | -1,263 | -787 | -169 | 179 | -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.
Related information:
Calculation of financial ratios