Destia publishes its financial statements and annual report 2021
In 2021, Destia’s revenue was MEUR 574.8, growing slightly from 2020 revenue (563.8). Comparable operating profit in 2021 was MEUR 21.5, which increased compared to the previous year (16.2*).
Destia achieved a historically strong result in 2021. In addition to the favorable development of revenue, strong project management particularly in the Road Services and Maintenance Services business groups supported the earnings development.
Tero Kiviniemi, President and CEO, on 2021 result
”Although the direct impact of the COVID-19 pandemic on Destia’s business and projects was relatively moderate, indirectly the pandemic has increased the cost of construction materials significantly.
We achieved the best result in the company’s history under these challenging circumstances. The result was positively impacted by the strong performance of the Road Services and Maintenance Services business groups as well as our efforts to improve project management.
Our new owner, Colas, enables strong development of the company and execution of our strategy also in the future.”
| Group’s key figures (IFRS), MEUR | 2021 | 2020 | 2019 | 2018 | 2017 |
| Revenue | 574,8 | 563,8 | 569,9 | 550,3 | 478,7 |
| Operating profit for the period | 21,1 | 14,7 | 13,5 | 17,1 | 15,4 |
| % of revenue | 3,7 | 2,6 | 2,4 | 3,1 | 3,2 |
| Operating profit for the period, comparable | 21,5 | 16,2 | 11,4 | 17,1 | 17,5 |
| % of revenue | 3,7 | 2,9 | 2,0 | 3,1 | 3,6 |
| Result for the period | 17,4 | 15,7 | 15,1 | 16,8 | 16,2 |
| % of revenue | 3,0 | 2,8 | 2,7 | 3,1 | 3,4 |
| Return on equity, % **) | 26,8 | 22,0 | 21,5 | 24,9 | 27,1 |
| Equity ratio, % | 31,8 | 32,3 | 31,7 | 31,1 | 32,6 |
| Return on investment % **) | 26,8 | 15,8 | 16,2 | 21,0 | 20,4 |
| Net gearing (Gearing)% ***) | -30,9 | -21,8 | 18,7 | -23,7 | 5,2 |
| Average personnel | 1 647 | 1 691 | 1 701 | 1 655 | 1 569 |
| Occupational accidents resulting in absence from work *) | 6,5 | 13,1 | 5,6 | 5,8 | 10,5 |
| Order backlog | 754,7 | 708,6 | 763,6 | 732,7 | 696,2 |
**) The opening equity for 2018 has been adjusted, but the closing balance for 2017 was used in the calculation of key figures for 2018 instead of the adjusted opening balance for 2018.
***) Since the beginning of 2019, Destia Group has applied IFRS 16 to lease agreements. The adoption of the standard increased the Group’s assets and liabilities on the balance sheet by EUR 14.1 million, which is why net gearing increased significantly compared with the reference year.
Outlook
Destia’s operating environment is evolving, for example, as a result of urbanisation, digitalisation, climate change, the ageing of the population, and the depletion of natural resources. The COVID-19 pandemic and geopolitical tensions may also cause changes in the company’s operating environment.
The infrastructure construction market in Finland is expected to decline slightly in 2022. Growth is expected in certain areas such as rail and energy construction as well as in several urban development projects and related infrastructure construction. The 12-year traffic system plan currently being prepared by the government is expected to improve long-term visibility regarding investments in important traffic routes in Finland.
Destia’s measures related to the improvement of project management, the growth strategy for select service areas, and Destia’s high-quality customer work provide the company with a good foundation for growth and further profitability improvement in 2022.
Destia
Destia is the biggest infrastructure service company in Finland and part of the global Colas Group. We design, build and maintain infrastructure that is essential for the functioning of society, such as electricity networks, bridges, roads and railways. We develop cities, telematics and lighting solutions, and offer comprehensive services for traffic and infrastructure management. We build tomorrow’s infrastructure with the unique sense of infrastructure of our 1,600 professionals. Destia’s revenue amounted to approximately MEUR 575 in 2021. www.destia.fi/en/
Media enquiries:
Johanna Harjula, Communications Manager
Mobile: +358 40 750 7989
Email: johanna.harjula@destia.fi
Notes to editors:
* The comparable operating profit in 2020 was earlier reported at MEUR 16.4, but due to the new structure of the Group, the reference figure has been changed to MEUR 16.2. The comparison years in the key figures table are also based on the current Group structure and therefore do not correspond to the Group figures published in previous years.