Empower Group increased its revenue and profitability in Finland
The year 2014 was a productive one for Empower group's Finnish operations. Revenue increased by 6 percent and profitability improved for the second year in succession, despite the challenging economic situation, growing by 29 percent. Furthermore, occupational safety and work satisfaction improved significantly within the company.
- I am very satisfied with how last year's result developed, particularly in Finland where our company's revenue increased by 6% from the previous year to 182 MEUR. Last year, we significantly strengthened our position on the market and our operations are looking to develop positively this year, as well: the group's order backlog was already 21% larger in the beginning of 2015 when compared to the year before. The first quarter of 2015 was also better than expected. The industrial sector achieved an excellent result, and the order backlog of the telecom sector was at a record high level in Sweden,” summarises Eero Auranne, CEO of Empower group.
In 2014, the group grew particularly in services to energy sector. In the telecom sector, the extended low demand turned to a clear growth in Finland and especially in Sweden, while the market remained stable in industrial sector services. Empower group's revenue in 2014 totalled 311 MEUR, being 5% lower than the year before due to the discontinuation of unprofitable operations in Sweden. The group's reported EBITDA stood at 6.2 MEUR, and the EBITDA adjusted by non-recurring items was 10.6 MEUR. Profitability improved particularly in the energy and industrial sectors. The revenue of Swedish operations was 71 MEUR, with operations showing a loss. The revenue of Baltic operations stood at 58 MEUR, being slightly lower than the year before.
- “Good result has required hard work to develop our operations. When looking back when I joined Empower in 2012, the starting point was challenging. Our systematic investments in occupational safety have more than halved the number of occupational incidents in two years, whereas investments in managerial work and wellbeing at work reduced our sick leave rate by 20%. Currently, Empower's sick leave rate is 4%, while the industry's average is 6%. We have focused especially on customer satisfaction, and our order backlog is now 21% larger than last year. At the same time, we have implemented cost savings and improved our efficiency. It is good to see that our work has produced results. Our objective this year is to be the best company in our field in terms of occupational safety and customer satisfaction,” says Auranne.
Eero Auranne, CEO, Empower Group, tel.:+ 358 29 020 011, email: eero.auranne(at)empower.fi
Empower Group Communications Empower Media Desk (weekdays from 9 a.m. to 4 p.m.),
Empower is a service company that builds and maintains electricity and telecom networks, maintains factories and power plants and delivers information management systems and services to energy sector. The company provides services in more than a hundred locations in Finland, Sweden, Norway, Estonia, Latvia and Lithuania. The group`s turnover in 2014 was €311 million and it employs some 2,700 persons. www.empower.eu