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 in 2016 and the new plant in Siechnice, Poland, are in full use. In 2017, the number of employees in the Lahti factory increased by nearly 20. Currently, Teknoware employs about 300 lighting professionals in Lahti.
In vehicle lighting, the order backlog of lighting systems for public train division was strong both in Europe and in the US. In the emergency lighting business in Europe, trade was well and growth was also achieved in Finland.
Positive outlook for the future
The year 2018 is expected to be similar to the previous year. In the United States, Conway, in South Carolina, a new factory is being built and the plant is expected to be fully operational this fall. During the year several new products will be launched and new 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 has given us a flying start and we also recruited new people for electronics and software design and other tasks", says CEO Kai Kauto.