The turnover for the Lappset Group increased by 15% compared to the previous year, with all three business sectors experiencing a growth in turnover. The Group’s consolidated turnover for the 2019 financial year was 73 million euros, with the turnover for 2018 being 63.5 million euros. Thanks to a growth in sales and enhancement of operations, the turnover for the Group took a positive trend. Net profit was 3.9 million euros, compared to 2.9 million euros in 2018. The net profit rate for 2019 was 5.3%. Last year’s turnover was the highest in the 50-year history of the Group and the second-best net profit.
Particular growth in sales was achieved on the international markets, but there was also growth in the domestic market in Finland. The majority of growth in exports came from the theme park segment belonging to commercial project activities.
The commercial activities of the Group comprise three divisions: Nordic, International and Lappset Creative (Themed attractions and Projects). The PlayCare service also belongs to the Nordic Division.
Last year, the Lappset Group made significant investments into growth by recruiting new expertise and new employees. The number of employees increased by 10.2% compared to the previous financial year, being at 432 employees at the end of the year (392 employees in 2018). The majority of employee recruitment was focused on Finland. The Lappset Group has 15 subsidiaries in nine different countries, with production operations in four European countries.
The return on shareholders’ equity for 2019 was 16.7%, being 12.8 percent in the previous year. The equity ratio for the Group reduced slightly to 47.3% in 2019, with the corresponding figure for 2018 being 56.1%.
The biggest investment occurred at the end of last year with the strengthening of the Group’s status in Central Europe, as the earlier 51 percent holding in the Dutch company Yalp Lappset Holding B.V. increased to full ownership. In addition to making investments into human resources, Lappset made replacement investments for maintaining production efficiency. The factory located in Tallinn, Estonia was expanded to increase capacity.
Lappset Group has prepared for the exceptional situation caused by the coronavirus by taking care of the wellbeing and health of its employees, customers and other important stakeholders in line with the instructions issued by the government and authorities.
The Group’s production facilities in all four nations are operating as normal, with clerical staff working remotely. Thanks to remote connections, customer service is also operating normally. The timely and speedy preparations by the Group’s procurement team has ensured the availability of important components also during the coronavirus pandemic. As a consequence of making careful preparations, Lappset’s delivery reliability is excellent at the moment.
Further information available from:
- Managing Director Tero Ylinenpää, tel. +358 400 290 234, email@example.com
Lappset Group is a family-owned enterprise based in Rovaniemi, Finland that designs and manufactures play and playground equipment, activity facilities and sports fields for top sports people, themed activity parks as well as park and street furniture. The Group’s registered office is based in Rovaniemi, with its other two offices in Finland located in Helsinki. Lappset Group has 15 subsidiaries based in nine different countries, Sweden, Europe, the United States and China. In addition to these, the Group’s international distribution network extends out to nearly 60 different nations. In 2019, the turnover for the Group was 73 MEUR and employed over 430 different experts in numerous fields. Lappset is celebrating its 50th anniversary in 2020.
#lappset50 #lappset @LappsetGroup
Updated on 24 March 2020 by changing the wording in the title./Irma Kuukasjarvi.