Lappset’s financial result clearly improved in 2021
Lappset Group Oy clearly improved its results after a difficult year of the COVID-19 pandemic. The Group’s turnover increased moderately at the end of the year to EUR 62 million (cf. 57.1 MEUR in 2020). Operating profit was EUR 2.6 million (4.2%), compared to a loss made in 2020 (-1.3%). Return on investment rose to 11.4% from -3.8% in the previous year. At the end of the year, the Group employed a total of 386 employees.
Turnover increased and the profit trend was positive despite the pandemic
Compared to the previous year, the Group’s turnover grew by 8.7%. Group growth was experienced in Finland, in subsidiaries, and in the dealer network. Lappset Creative Works business unit, which is responsible for the business of theme parks, had net sales slightly less than the previous year. Thanks to a growth in sales, enhancement of operations, and the forecasting of purchases, the turnover for the Group developed positively.
“The growth in turnover can be characterised as moderate. The COVID-19 situation had a particular impact on the theme park projects that were practically frozen by the coronavirus almost all over the world. Now, however, the situation is changing, and the order book for different activity parks is filling up nicely. With playgrounds and sports areas, the pick-up of the market is reflected in a positive order book”, says CEO Tero Ylinenpää.