Granlund’s growth continues
The leading building service operator came through a challenging business cycle
Granlund, who focus on building service design, consultation and software, kept growing at a steady pace. The turnover for 2014 increased by 6.1 % from the previous year to EUR45.4 million (from €42.8 million) with the profits increasing by approx. one percent to €3.8 million (from €3.7 million)*.
Granlund's expansion in 2014 included one acquisition and one asset deal. The University of Arts' Teakon business moved to Granlund Oy and Granlund Riihimäki Oy expanded to Hämeenlinna. Two new branches were also opened in Savonlinna and Kouvola. Granlund now has operations in 14 Finnish towns. The group's sum of employees increased by 20 to a total of 532.
The group's capital turnover in 2014 was 29.4 % (34.6 %) and its equity ratio was 47.4 % (42.9 %). All companies in the Granlund Group had at least an adequate turnover and operating profit, with some companies turning out excellent figures. The entire group's stability and liquidity have remained good. All Granlund employees are included in the profit sharing system, which totals a share of €2.4 million.
"Looking at the business cycle, we did fairly well in 2014. The construction and property business is focusing heavily on energy efficiency and expert service, and this has had a positive effect on us. We were awarded some large assignments near the end of the year and we believe that this development will continue through 2015", says CEO Pekka Metsi.
The order book in 2014 for the construction sector remained on the level of the previous year. Building services improved by the year's end. The hospital and infrastructure sectors did well, but retail and office construction volumes remained modest. The state of Granlund's order book was good in spring and autumn. New, massive projects include the Central Pasila Tripla, the City Rail Loop, the Western Metro Extension and the Helsinki-Vantaa Airport development programme. The demand for energy consultation has grown and our position in the data centre sector has become significantly stronger. The software sector's maintenance management system, Granlund Manager has been prepared for the mobile space. The group has continued its efforts in innovation and development, which contribute 8 % to the turnover.
The business cycle situation looks positive in Granlund's sectors in early 2015. Regional differences have, however, grown, and significant projects in the capital region will be the employers of the coming years. Improvements in energy efficiency are expected to yield positive developments, and the hospital sector is also quite active. The renovation sector is also seeing fairly steady growth.
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