News

Destia publishes its financial statements and annual report 2020

Wed 03 Mar 2021 09:05:00 AM EET

In 2020, Destia’s revenue was MEUR 563.8, with a slight decline from 2019 revenue (569.9). Comparable operating profit in 2020 was MEUR 16.4, which increased compared to the previous year (11.2).

The 2020 result was positively impacted by successful projects in the Maintenance Services business and the strong development in the Urban Development and Design Services business.

Progress with new international strategic initiatives was more conservative than planned due to factors such as hindrances related to the COVID-19 pandemic.

TERO KIVINIEMI, PRESIDENT AND CEO, ON 2020 RESULT

”Destia delivered a solid result in 2020. The impacts of the COVID-19 pandemic were felt in our industry despite economic stimulus decisions. However, its direct effects on Destia’s business and projects were relatively moderate.

However, the result was not achieved without challenges. It was impacted by preparedness to the COVID-19 pandemic and efforts to improve project management. In addition, we had to adjust the number of employees to reflect the declined revenue.

In 2020, we continued to implement our strategy. Our goal is to expand geographically and to ensure the competitiveness of our core business and improving the added value for our customers in design, construction and maintenance projects requiring special competences. Additionally, we aim to grow as an even stronger urban developer.”

OUTLOOK

Destia’s operating environment is changing, for example, as a result of urbanisation, digitalisation, climate change, the ageing of the population and the depletion of natural resources. The infrastructure construction market in Finland is expected to decline in 2021. The continuation of the positive growth development in 2021 would require further COVID-19 recovery measures, such as the availability of recovery funds from the EU.

The 12-year traffic system plan currently being prepared by the government is expected to improve long-term visibility regarding investments in important traffic routes in Finland. The strong growth in the Swedish and Norwegian infrastructure construction markets is expected to continue in 2021.

Destia’s measures related to the improvement of project management, the growth strategy for new service areas and Destia’s high-quality customer work provide the company with a good foundation for further profitability improvement in 2021.

Destia’s Financial Statements, Corporate Governance Statement and Annual Report 2020 are published on the company’s website at https://www.destia.fi/en/annual-report-2020.html.

DESTIA

Destia is the biggest infrastructure service company in Finland. Our services cover the entire infrastructure life cycle from design to construction and maintenance. We create urban construction innovations and smart infrastructure solutions that facilitate the movement of people, goods, services and energy as part of northern life. We build tomorrow’s infrastructure with the unique sense of infrastructure of our 1,600 professionals. Destia’s revenue amounted to approximately MEUR 565 in 2020. Destia is a private company owned by Ahlström Capital Oy. www.destia.fi/en/

Media enquiries:
Johanna Harjula, Communications Manager
Mobile: +358 40 750 7989
Email: johanna.harjula@destia.fi