KWH Group invests in sustainable development
The first half of 2023 was challenging, but thanks to a strong last quarter, KWH Group reached a good financial result in the end.
– The year was like driving in a traffic jam, looking at traffic lights and then alternately accelerating and braking. Despite a difficult operating environment with declining demand, we still managed to maintain our market positions, says Group President Kjell Antus.
The Group sales decreased marginally by 1.3% to EUR 610.8 million compared to the previous year. Operating profit was EUR 67.3 million, slightly lower than in the previous year. Investments grew from the previous year and were EUR 85,7 million.
Sale of shareholding in Uponor Infra Oy
During 2023, the entire shareholding in the joint venture Uponor Infra Oy was divested to Uponor Oyj. The KWH Group started its pipe manufacturing around 70 years ago. The operations gradually became a main branch of the Group, in the KWH Pipe business division. The divestment thus marked the end of one of KWH’s former core operations.
– The deal freed up resources that will be used to accelerate growth and strengthen the competitiveness of our wholly owned companies. In addition, some of these resources will be used to diversify investments into new areas with future growth potential, Antus reveals.
Ever stronger commitment to sustainable development
The KWH Group works actively with sustainability. We have also improved our monitoring and reporting systems to make the process more efficient and to ensure the reliability of our sustainability reporting.
– Integrating sustainability thinking throughout the Group is a top priority to create lasting value in our companies over time. Promoting sustainable business models is essential to mitigate the effects of climate change, as well as to ensure a fair and democratic society, Antus argues.
Investments to the future
– During 2024, we expect cautious economic recovery. Despite the current market uncertainty, we have taken important decisions and launched several major investment projects, which are expected to be fully implemented in 2025 and 2026, Antus continues.
The Annual Review 2023 is available at our homepage.
