Key figures and strategy
Granlund achieved nearly 19% growth in spite of the continued challenging market conditions in the real estate and construction sector. Several acquisitions were completed across different design disciplines, construction management and software.
CEO’s review
The year 2025 was a difficult period in the real estate and construction sector, especially with regard to housing construction. There were few bright spots in the sector, though some did indeed exist. In the public sector, hospital projects and projects to improve security of supply, for instance, provided work quite well. Renovation activity also continued at a moderate level, although it, too, reflected the economic and financing-related challenges to some extent.
The sector has received a real boost from the rapid growth of data center investments, which Granlund is strongly involved in. The data center industry will be one of the largest growth areas in the private sector in the coming years.
The positive messages of the year also included a few steps forward in solving the productivity challenge in the real estate and construction sector. The use of data and AI present significant opportunities for improving the efficiency of production and logistics. However, there is still a lot to be done to ensure that digital data flows smoothly in projects between design, procurement, manufacturing, logistics and construction.
The development of productivity and data-driven business are key themes in Granlund’s innovation and development activities. We invested approximately 6% of the Group’s net sales in this area during the year.
The development of productivity and data-driven business are key themes in Granlund’s innovation and development activities.
Pekka Metsi, CEO, Granlund
Granlund had a good year
Despite the difficult market situation, Granlund Group’s year was at least moderate. Our net sales grew by nearly 19% in line with our targets. In addition to organic growth, net sales were also driven by acquisitions made during the year and the good order book of the acquired companies.
Net sales improved particularly in data center design, construction management and supervision and software. Architectural design and structural design also expanded more strongly than before.
The challenging market in the real estate and construction sector was reflected in different ways in Granlund’s business units, some of which had to adapt their operations as the demand for services decreased.
Source: SKOL ry
Expansion in design services
In MEP design, we strengthened our position as the leading operator in Finland. Our expertise is particularly emphasised in critical projects, such as hospitals and data centers. We have accumulated data center expertise for a long time, and our determined work is bearing fruit. Granlund has become the largest data center design and consulting company in the Nordic countries.
In architectural design, we have expanded our services across Finland through new recruitment and acquisitions. In summer 2025, Raami Arkkitehdit was merged into Granlund, which strengthened our extensive expertise in hospital design, among other areas. The acquisition of Kauto Nikulainen Architects in September also expanded Granlund’s architectural design offering in the Helsinki Metropolitan Area.
The rapid growth and geographical expansion of Granlund’s structural design business continued during the year. This was supported not only by new recruitment but also two acquisitions completed in May, when NQE Rakennetekniikka Oy and NQE Teollisuus Oy, operating in Turku and Oulu, Finland, were acquired by Granlund.
The real estate and construction sector has received a real boost from the rapid growth of data center investments.
Pekka Metsi, CEO, Granlund
Strong growth in construction management services
Granlund’s construction management business is seeing strong growth. This is accelerated by, for example, data center projects, where clients increasingly utilise our expertise in construction management and supervision in addition to design and consulting. Construction management, project management and supervision services are also strengthening in Sweden. The Group acquired the Stockholm-based company Coordia Consult AB in April.
In the consulting business, the weak economic situation in the real estate and construction sector was reflected in the demand for services. Nevertheless, we carried out a large number of projects during the year in areas including property maintenance, energy and sustainability.
Highlights in consulting included the increased due diligence assessments carried out by Granlund for its customers in connection with property acquisitions during the second half of the year. This foresees a slight recovery in the real estate market, which has been nearly at a standstill.
In our software services, positive development continued in the social welfare and healthcare sector, public administration, commerce and parishes, among others. We are increasingly investing in digital solutions for the project phase in our software offering. This is supported by the acquisition of the software company Derigo Oy in November, which strengthens Granlund’s digital solutions in project management.
We give our experts responsibility and opportunities to develop within the company.
Pekka Metsi, CEO, Granlund
Granlund recruited new experts
Granlund recruited new experts during the year, ranging from young trainees to experienced specialists and project managers. Over 200 new employment relationships began during the year. The figure includes both recruitment and employees transferred through acquisitions. Granlund had 1,730 employees at the end of the year.
Our new employees include architects, designers, project managers, developers and supervisors. In addition, we have recruited several experts for tasks in the real estate and construction sectors as well as data development.
Granlund’s reputation as an employer is good, and employee satisfaction remained at a high level. We have a strong culture in the development of our personnel. We give our experts responsibility and opportunities to develop within the company.
We believe in positive development
The construction and real estate sector is not expected to recover rapidly in 2026. There is no clear turnaround in sight, especially in the construction of new buildings and, in particular, in housing production. Many estimates suggest that the economic cycle would only turn better the following year.
Despite the general uncertainty, we at Granlund believe in the positive development of our businesses. We will continue to seek growth both organically and through acquisitions. We will continue to invest in broad expertise and our strengths in technically demanding projects.
Business risks are primarily related to general economic development and geopolitical tensions. Construction and renovation projects may continue to be postponed if the uncertainty continues. Price competition in all of Granlund’s business areas has also become even more intense, which requires us to increasingly enhance the efficiency of our own operations.
Pekka Metsi, CEO, Granlund
Changes in the Group structure
In 2025, seven new companies joined the Granlund Group. In April, Granlund made two acquisitions in Sweden. Stockholm-based Coordia Consult AB focuses on construction management services, while Umeå Projekt Team AB, based in northern Sweden, focuses on MEP design.
In May, Granlund acquired NQE Rakennetekniikka Oy, which operates in Turku and Oulu, and NQE Teollisuus Oy. In June, electrical design was strengthened through the acquisition of Stacon Oy in Helsinki. Architectural design was expanded into the Helsinki Metropolitan Area through the acquisition of Kauto Nikulainen Arkkitehdit Oy in September. In October, Granlund made its first acquisition in the software business by acquiring Derigo Oy.
The UK-based Group company Greenfield Nordic Ltd strengthened its Granlund brand by changing its name to Granlund Group UK Ltd. Granlund UK is used as its name in marketing.
Late in the year, Granlund divested its property management business by selling Granlund Isännöinti Oy to Ehta Isännöinti, owned by Tapiolan Lämpö Oy.
Strategy and operating environment
Granlund carried out a project to clarify its Plan G+ strategy, in which the growth targets and focus areas of the Group and its various businesses were sharpened. At the same time, financial targets were set until 2029 and concrete action plans were defined for the next three years.
The foundation of the strategy remains the same. Granlund continues to want to create a sustainable and smart future together with customers and stakeholders. In the updated strategy, Granlund’s business is divided into six business areas. These include MEP design, architectural design, structural design, construction management and supervision, consulting and software. Architectural design and structural design were separated into distinct business areas, which will seek particularly strong growth in the future.
Personnel involved in strategy work
Of the strategic themes, internationalisation and the ambitious growth targets set for it are particularly emphasised. The goal is that by 2030, already around 40 per cent of net sales will be generated outside Finland. Today, more than 90% of Granlund Group’s net sales come from Finland.
Many Granlund employees, representing all of the business areas, were actively involved in the strategy work. Engagement increases the personnel’s commitment and understanding of their role when the strategy is put into action in day-to-day work. The personnel played a key role particularly in crystallising Granlund’s key success factors.
The company’s key strengths include the Granlund team spirit and long-term partnerships. Granlund is also a local and entrepreneurial operator with strong expertise in its field. In the real estate and construction sector, the company is a development-focused thought leader that is recognised as an innovative and evolving operator.
The personnel played a key role particularly in crystallising Granlund’s key success factors.
Data strategy guides business development and the improvement of operational efficiency
The management of data related to properties and construction, and data-driven services, have grown to become a significant part of Granlund’s business. The data strategy has two key objectives. Firstly, Granlund creates new data-driven business that generates even greater added value for customers in all phases of the property lifecycle. Secondly, Granlund improves the efficiency of its own operations through data-driven solutions. To this end, Granlund deploys new digital tools and develops operating models that make smart use of standardised data and AI.
The experts and customers are supported by Granlund Data Office, which offers technology solutions and help with the commercialisation of services.
In 2025, Granlund advanced its data strategy by launching new data-driven services focused on, for example, enhancing the calculation of schedules, costs, and the carbon footprint in construction projects. Digital services in construction management and supervision are strengthened by Derigo software products, which were acquired by Granlund as part of a business acquisition.
Granlund prepared a Design 2030 strategy to support the development of design services. In the coming years, it will guide the development of the efficiency of design, operating practices and services offered to customers.
Towards strong internationalisation
Strong internationalisation is a key objective of Granlund’s strategy. The company has a very strong position in its domestic market, which makes it a natural choice to seek significant growth in other markets.
Granlund is confident that its strong expertise will also be in demand in the international market. The company has the expertise to solve a wide range of challenges in the real estate and construction sector, whether the challenges relate to energy, sustainability or the implementation of special projects, such as data centers. Granlund is also a pioneer in digital solutions that are based on the effective use of data.
Granlund has the expertise to solve a wide range of challenges in the real estate and construction sector.
Two acquisitions in Sweden
In 2025, the goal of internationalisation was put into practice with two acquisitions in Sweden. In northern Sweden, Granlund expanded its MEP design business by acquiring Umeå Projekt Team AB. During the year, Stockholm-based Coordia Consult AB, which focuses on construction, project management and supervision, also joined the Group.
In Sweden, Granlund now has five companies specialising in electrical design, HVAC and energy design, structural design, construction management and supervision and data center design and consulting. Approximately 100 experts provide services across the country, from Malmö to Umeå.
Granlund’s acquisition strategy is focused on companies whose culture is characterised by innovation, sustainability and transparency.
Operations to be expanded to 2–4 new countries in the coming years
In addition to Sweden, Granlund actively seeks growth opportunities elsewhere in Northern Europe. The aim is to expand the Group’s operations to 2–4 new countries in the coming years. A key way forward in the international market is through mergers and acquisitions aligned with the company’s strategic guidelines and growth targets in selected business areas.
During the past year, the company has conducted market research in several European countries to strengthen its understanding of attractive target markets that offer sufficient synergies with the Group’s current operations. At the same time, Granlund has initiated discussions with potential acquisition targets in line with its strategic growth targets.
Granlund looks for companies that have strong financial performance, motivated personnel and satisfied customers. Acquisition targets also need to have similar values to Granlund, characterised by innovation, sustainability and transparency. The operating model is that the core individuals of acquired companies continue as partners in their existing roles, and the operations are developed further on a cooperative basis.
Collaboration in the European First Q Network
Granlund is the only Finnish company in the European First Q Network, which brings together experts in mechanical and electrical design and consulting from 15 different countries. The companies in the network employ a total of over 4,000 professionals and have combined net sales in excess of EUR 300 million.
The purpose of the cooperation network is to share knowledge, experiences and best practices from projects carried out in different countries. International cooperation makes it possible to respond to customer needs even more effectively across borders while taking advantage of local expertise.
The cooperation network is utilised, for example, by international customers that require strong expertise in local legislation and construction regulations in order to implement their concept plan. This type of cross-border cooperation has been effective in data center projects, for instance.
Innovation and development activities
Granlund’s innovation and development activities are based on cooperation not only between its own business units but also with customers, educational institutions and partners in Finland and internationally. In 2025, approximately EUR 10.6 million was invested in innovation and development activities, which represents about 6% of Granlund Group’s net sales. The digital green transition was at the forefront of innovation activities.
While the innovation department focuses on long-term development projects, continuous improvement is part of Granlund’s internal development efforts. They are the responsibility of the development managers of the different businesses and the support teams led by them. Day-to-day business operations were developed during the year by harmonising practices and activating cooperation between different departments, among other things. From the customer point of view, it was reflected, for example, in the efficient flow of information and flexible allocation of resources.
AI tools are used to develop the production, collection, management and reporting of data for various purposes.
Collaborative development in the construction sector
Granlund participated in the development of the real estate and construction sector through collaborative projects and organisations, including the Talotekniikka 2030 programme, the Building 2030 consortium and Green Building Council Finland. Granlund also served on jury of the Nordic PropTech Awards.
Cooperation with start-ups was intensified during the year. Pilot projects related to AI were developed with approximately 30 companies. Solutions from Zupply (Denmark), Make a BIM (Finland), Pictue (Finland), and Autility (Norway) progressed to the implementation phase. AI tools are used to develop the production, collection, management and reporting of data for various purposes.
Development work continued with customers on both projects and theses, 33 of which were completed during the year (32 in 2024). The best theses were recognised with awards. Customer orientation was a distinct feature of the award-winning theses.
New data-driven AI products
The innovation department constantly tests new technologies, which builds a foundation for the development of new data-driven products and AI services. Several solutions were released during the year:
- Data solution helps to utilise the standardised data content of information models in quantity, cost and carbon footprint calculations, for example.
- Revit templates were distributed free of charge for all MEP designers to use.
- AI-Energiaoptimi reliably measures the success of energy efficiency measures.
- Sustainability Data Harvester Service simplifies and facilitates the collection of sustainability data.
- Data-driven maintenance manual coordination ensures that the maintenance manuals are machine-readable.
- In the MagiCAD software, settings required for MEP data content standardisation in accordance with the Finnish Building Act were specified.
EU and Business Finland projects
During the year, four new Business Finland -projects were launched, three of which are international. Granlund is the only company representing the construction sector in many of the projects.
New
- ELFMo (Engineering Large Foundational Models for Enterprise Integration, 2024–2027)
- RESPED (Enabling Energy Resilience through new energy flexible and affordable Positive Energy Districts concepts, 2024–2027)
- AI Champion (AI Champion for Intelligent Supply Chain Management in AEC, 2025–2028)
- ResilientEnterprise (Improving Resilience of Enterprise Workforce and AI to Operational Challenges, 2024–2028)
Previous and ongoing projects
- GenerIoT (Generating and Deploying Lightweight, Secure and Zero-overhead Software for Multipurpose IoT Devices, 2023–2026)
- People Flow (Untangling People Flow for Smart and Sustainable Urban Environments, 2023–2026)
- Energy-Carbon-KOM (Development of energy-carbon coordinated key operation management technology of district energy system based on mechanism-data fused modeling, 2023–2026)
- HumanIC (Human – Centric Indoor Climate for Healthcare Facilities, 2024–2028)
- RESPED (Enabling Energy Resilience through new energy flexible and affordable PED concepts, 2024–2027)
Completed
- NSDC (Nordic Superblocks as Decarbonization Catalysts, 2023–2025)
Finland’s first professor of building services
Granlund’s Development Director Piia Sormunen became Finland’s first professor of building services at Tampere University. Sormunen is also a member of the Board of CIB, the International Council for Research and Innovation in Building and Construction, where she also heads the new Global Task Group on AI in Construction. Granlund will start cooperation with CIB in 2026.
AI Champion
AI Champion, which is the largest development project in Granlund’s history, aims to enhance productivity in the construction industry by streamlining the flow of data from the information models created in the design phase to data-driven on-site operations.
AI Champion is an AI project funded by Business Finland, and it has been selected for the data economy growth programme of the Ministry of Economic Affairs and Employment as a construction sector pilot. In addition to Granlund, the project participants include Fira and the Koja companies. The research is co-funded by ETS Nord, Kiilto, GF BFS, QMG, LVI-Info, STK and Airlyse.
ELFMo
ELFMo is an international research project in which Granlund, together with technology companies and universities, develops ways to integrate generative AI and large language models into digital services that are reliable and operationally reliable.
“Data concerning the same building is often dispersed, and our aim is to use large-scale foundation models to bridge those gaps. This supports data-driven decision-making.”
Davor Stjelja, AI Lead, Granlund