Peikko Group, a leading global supplier of slim floor structures, wind energy applications, and connection technology for precast and cast-in-situ construction, reached in 2021 a record turnover of EUR 254.8 million (MEUR 238.5 in 2020). Profit before interest and taxes (EBIT) amounted to EUR 12.9 million (MEUR 14.3 in 2020).
Peikko Group | 2021 | 2020 | Change |
Turnover | MEUR 254.8 | MEUR 238.5 | 6.8% |
Profit before interest and taxes (EBIT) | MEUR 12.9 | MEUR 14.3 | -9.6% |
Balance sheet total | MEUR 203.2 | MEUR 168.0 | 20.4% |
Personnel, average | 2,067 | 1,888 | 9.5% |
During the year of 2021 the business was further affected by COVID-19 with various lockdowns and other disturbances around the world. During autumn the business was also heavily affected by e.g., rising costs of logistics, energy, and raw materials.
Peikko’s total investments in 2021 continued at a reasonable high level and amounted to EUR 13.5 million (MEUR 18.7 in 2020). The investments were to the large extend related to machinery and equipment, and the largest investments took place in Peikko’s factories in Slovakia and Romania. In December, Peikko informed that it had acquired Kemecweld Oy, a company focusing on welding automation. The team that joined Peikko after the acquisition will play an important role in implementing Peikko's machinery and equipment investments in 2022–2023.
Peikko’s Research & Development investments remained on similar level to 2020 and were at about 6 MEUR. There were several new product launches that took place in 2021, such as the ETA assessed BOLDA® Column Shoe and a new GRAVITY7 wind turbine tower gravity foundation system. Peikko also implemented important research in the field of timber construction, such as loading tests with DELTABEAM® and Cross-Laminated Timber (CLT) floor slabs.
"The year of 2021 was a strong year in turbulent circumstances. Nevertheless, the Russian invasion into Ukraine in February 2022 brought the turbulence to a totally new level. There are and will be issues on raw material availability and price, as well as other rising costs, such as logistics and energy. The uncertainty will most likely lead to a decrease of construction activity in Western Europe, at least for the medium-term. But as a 57-year-old company, Peikko has seen many situations in the past and been able to adapt. And we will also adapt for the new conditions taking place in 2022", says Topi Paananen, CEO of Peikko Group Corporation.
Further information:
Topi Paananen, CEO, Peikko Group Corporation
Mobile +358 50 384 3001, email [email protected]
Peikko Group in brief
Peikko Group Corporation is a leading global supplier of slim floor structures, wind energy applications, and connection technology for precast and cast-in-situ construction. Peikko’s innovative solutions offer a faster, safer, and more efficient way to design and build. Peikko has sales offices in over 30 countries in Asia-Pacific, Europe, Africa, the Middle East, and North America, with manufacturing operations in 12 countries. Peikko generated a turnover of EUR 255 million in 2021. Peikko is a family-owned and managed company that employs over 2,000 professionals. Peikko was founded in 1965 and is headquartered in Lahti, Finland. Further information: www.peikko.com.