Record result for KWH Group despite challenging market conditions
2024 brought both challenges and successes to the KWH Group. Our sales rose to EUR 625.1 million, with an operating profit of EUR 76.9 million. Net profit for the financial year totalled EUR 63.1 million, the best in the Group’s history.
We started the year with strikes affecting our operations, but the situation stabilised in the second half of the year. The global market remained challenging, characterised by political uncertainty and structural problems in several European countries. At the same time, the situation in the United States was surprisingly positive, and the decline in inflation, combined with subsequent interest rate cuts, helped stimulate the market. Despite the challenges, the KWH Group managed to maintain strong profitability and delivered its best result ever.
– The KWH Group has a clear strategy for profitable growth. We focus on markets with development potential and continue to invest in innovation and efficiency to strengthen our competitiveness. With a continued focus on innovation and sustainability, we are ready to meet the opportunities and challenges of the future, says CEO Kjell Antus.
In 2024, the KWH Group and its subsidiaries have invested in particular in human resources, occupational safety, digitalisation, information security and sustainability. This work will continue in 2025.
Mirka is developing its operations with a focus on the circular economy, with the goal of 70% of its products being circular or compostable by 2035. The development is mainly being done via two projects partly funded by Business Finland and led by Mirka. The first is developing ceramic abrasive grains from partially recycled materials and the second is creating a circular economy -based business ecosystem.
Prevex has also taken big steps forward in its sustainability work. The company’s water traps are now made from 60% recycled plastic, resulting in a 45% reduction in carbon dioxide emissions compared to 2018. At the beginning of the year, Prevex also started offering plastic-free packaging to its customers and plans to replace the lead-containing metal parts of its water traps with engineering plastic this year.
Sustainability is an important selling point for Prevex, and according to Antus, almost all of the new customers it has gained in the past year are largely due to environmental investments. He notes that more and more customers in the logistics sector are also demanding sustainable solutions.
At KWH Logistics, sustainability is particularly evident in the work to reduce work-related accidents. When the company’s fleet of 600 machines is being renewed, low-emission and electric power weigh heavily in purchasing decisions. KWH Freeze took a big step forward in its sustainability efforts by partnering with Vantaan Energía, which will start using waste heat from its cooling processes for district heating later this year.
