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Granlund keeps going strong

Granlund keeps going strong

28.5.2024 – The net sales of the group increased by approximately 12% compared to the same period in the previous year. The work load is good in all business areas.

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Granlund, Granlund Group
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Granlund’s business has shown strong development during the beginning of the year. Last year, the company performed well in a challenging market situation, and the same direction has continued in 2024. From January to April, the net sales increased by approximately 12% compared to the same period in the previous year, amounting to EUR 49.1 million (EUR 43.7 million). The EBITDA for the last 12 months was 14.8%, compared to 13.0% in 2023. 

In this economic situation of the construction and real estate sector, specialisation has enabled Granlund to cope relatively well.

Pekka Metsi, CEO, Granlund Group

New positions are opened

Granlund has started the year strongly in several business areas. The strongest sectors include data centres, hospital projects, renovation and energy renovation, which have also started the year well.

“In this economic situation of the construction and real estate sector, specialisation has enabled Granlund to cope relatively well. At the moment, all our business areas have plenty of work, and we have started to open new recruitments as well,” says Pekka Metsi, CEO of Granlund.

MEP design market leader

In MEP design, Granlund has maintained its position as a market leader, and the sector is showing growth. MEP is becoming more and more important in construction projects and there are several lifecycle projects, data centres, office premises projects and renovation projects underway. “Buildings are becoming increasingly technical, which is clearly evident in MEP design. Our order book is looking much stronger than it was a year ago,” says Metsi.

The experiences from MEP implementation project management models have also been very positive, and the operations are steadily growing. Customers are interested in data management, precise volume-based cost monitoring, 4D-based scheduling, carbon footprint monitoring and operational assurance during the warranty period.

Buildings are becoming increasingly technical, which is clearly evident in MEP design.

Pekka Metsi, CEO, Granlund Group

Construction and supervision is getting stronger

In construction and supervision, Granlund has been growing at a steady rate. In 2023, the net sales in the business area amounted to EUR 17 million. The positive business trend has continued from the start of the year. “We are in the process of revising our construction management strategy and extending the integration of both data management and sustainability aspects to all project stages,” says Metsi.

The company has also laid a solid foundation for expanding its operations to new areas. Granlund has launched extensive recruitment in structural design and is aiming to be amongst the five largest structural design companies. The trend has also been positive in terms of architectural design. 

Energy and sustainability are keywords

With regard to consulting and continuous services for facilities, the development remains steady. There is demand for energy and sustainability services, and industrial sustainability services, such as EPD, are showing significant growth. In property consulting, the Due Diligence operations came to a grinding halt at the start of the year. However, the situation has significantly improved during the spring.

Granlund Manager has maintained its position as the property management software market leader. Customers are interested in data-based energy and sustainability target management, which has been reflected in the growth in software integrations and demand for smart data processing and reporting solutions. At the start of the year, an AI-based energy management module was also introduced.

Towards growth targets

Metsi believes that the positive business trend will continue, which is also confirmed by the initial cautiously positive forecasts regarding the economic turnaround. Granlund is progressing towards its growth targets in line with its strategy, aimed at significant international expansion, especially in Scandinavia. “Our aim is to complete a few M&A transactions in Finland and abroad during 2024,” says Metsi.

More information

Pekka Metsi

CEO
Granlund Oy

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