Key figures

Summary of the Financial Year 2024

Peikko Group is a leading global supplier of slim floor structures and connection technology for precast and cast-in-situ construction. In 2024, Peikko achieved a turnover of EUR 231.9 million (MEUR 262.1 in 2023). The profit before interest and taxes (EBIT) amounted to EUR -2.4 million (MEUR -1.2 in 2023).

Peikko’s business environment was extremely challenging in several of its operating countries in 2024, resulting in significantly lower revenue and weaker profitability than planned. Peikko’s annual revenue declined for the second consecutive year, and Peikko’s result was negative.

The development was influenced by the volume drop that occurred during 2023, and the main markets did not recover in 2024 despite forecasts. Peikko’s main market areas, particularly the construction markets in the Nordic countries and the Baltic countries, experienced a deep recession as early as 2023, and the situation remained challenging throughout 2024. The volume drop and “freezing” were even greater than during the 2008-2009 financial crisis, depending on the market segment. Due to delays in project deliveries, Peikko also had less revenue in Africa and Asia in 2024.  

In October 2024, Peikko signed a new long-term financing agreement that was used to refinance all of the Group’s senior indebtedness. The financing agreement consisted of a EUR 60 million long-term loan and a EUR 15 million revolving credit facility. The agreement was for a three-year term.

In 2024, Peikko’s total investments decreased significantly due to the market situation, amounting to 10.0 million euros (20.9 MEUR in 2023). Peikko’s most significant single investment during 2024 was a factory expansion in Ras Al Khaimah, the United Arab Emirates.

The most significant product launches were the HULCO^® Anchor Bolt, HELKA^® Column Shoe, and TEBEA^® Thermal Break Element, the latter of which was launched globally in January 2025 at the BAU fair in Munich.

In 2024, Peikko continued its ERP system renewal project. The new Microsoft D365 ERP system was implemented in a total of 9 countries, including the factories in Hungary and China.

Peikko Group’s manufacturing partner, Nova Steel, built a factory for producing DELTABEAM Composite Beams in Montreal, Canada, in 2024. The factory is scheduled to be operational in Q2/2025.

In 2024, Peikko opened its own sales and engineering office in Kyiv, the capital of Ukraine, and in the summer of 2024, it signed an agreement to start production in Bila Tserkva, south of Kyiv. The approximately 3,000 m² production facility has been operational since May 2025; however, Peikko does not yet expect significant revenue for 2025. The project schedule naturally depends on the ongoing war and the challenges it causes.

"2025 has begun with a positive outlook, and Peikko will return to profitability. This is driven by market recoveries across multiple regions, an enhanced product portfolio, and an optimized cost structure. We are confident in Peikko's trajectory for 2025”, states Topi Paananen, CEO of Peikko Group Corporation.   

Turnover development during the past five years

Key indicators from the years 2020–2024