Teknoware’s solid financial performance continued in 2017
The company’s net sales increased to a new record and profitability remained at a good level. Net sales amounted to EUR 64.3 million and revenue growth was +12.6% compared to 2016. Operating profit last year was EUR 5.94 million (+9.2%).
Businesses and production facilities grew with extensions
The factory extension in Lahti, Finland, in 2016 and the new plant in Siechnice, Poland, are now in full use. In 2017, the number of employees in the Lahti factory increased by almost 20. Currently, Teknoware employs about 300 lighting professionals in Lahti.
In vehicle lighting, the Rail division’s order book of lighting systems for public trains was strong, both in Europe and the US. In the emergency lighting business in Europe, trade was good and growth was also achieved in Finland.
Positive outlook for the future
2018 is expected to be similar to the previous year. In the United States, in Conway, South Carolina, a new factory is being built and the plant is expected to be fully operational this fall. During next year, several new products and projects will be launched.
– Demand is at a normal level, which gives us a good starting point for growth this year, and our record-breaking order book has given us a flying start. We also recruited new people for electronics and software design and other tasks, says CEO Kai Kauto.
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