Destia’s comparable operating profit and order backlog at record levels in 2024
Destia’s revenue was 630.5 million euros in 2024, slightly decreasing from the 2023 revenue (640.6 million euros). The comparable operating profit in 2024 was 26.0 million euros, which increased compared to the previous year (23.6 million euros).
President and CEO Tero Kiviniemi comments on the year 2024
“The year 2024 was relatively good for Destia, even though the infrastructure and construction sector otherwise suffered from a downturn.
Our revenue decreased slightly compared to the previous year, mainly due to project delays and slower-than-expected starts. However, our comparable operating profit continued to grow and was the highest in the company’s history this year as well. Our cash position strengthened towards the end of the year. Especially in the second half of the year, our order backlog developed positively due to projects such as the Espoo Rail Line, and the border fence and data center foundation construction projects, reaching a record level at the turn of the year.
The most significant wins of 2024 were the alliance agreements for the Vantaa Light Rail and the Helsinki Urban Development and Light Rail Program, but they will be included in the order backlog only after the development phases of the projects are completed, expected during 2025–2027.
Without our skilled and dedicated staff, and customers who want to work with us, we would not have achieved our financial success last year. The customer satisfaction score, NPS, was 68, and the employee satisfaction index, eNPS, was 46, both at record highs.
The accident frequency rate remained at the previous year’s level of 6.3. We are not satisfied with this, as our goal is always a worksite without any accidents.
Our work has societal meaning. We have paid special attention to combating climate change for several years. In 2024, we reduced our direct emissions by 35,5 percent compared to 2020. We are thus well on our way to achieving carbon neutrality by 2030. Ensuring Finland’s security of supply, especially in terms of critical infrastructure, also adds meaningfulness to our work.”
Performance and financial position
| Key figures (IFRS), EUR million | 2024 | 2023 | 2022 | 2021 | 2020 |
| Revenue | 630.5 | 640.6 | 603.4 | 574.8 | 563.8 |
| Operating profit for the period | 19.9 | 20.3 | 17.5 | 21.1 | 14.7 |
| % of revenue | 3.2 | 3.2 | 2.9 | 3.7 | 2.6 |
| Operating profit for the period, comparable | 26.0* | 23.6 | 20.0 | 21.5 | 16.2 |
| % of revenue | 4.1 | 3.7 | 3.3 | 3.7 | 2.9 |
| Result for the period | 16.0 | 16.2 | 13.1 | 17.4 | 15.7 |
| % of revenue | 2.5 | 2.5 | 2.2 | 3.0 | 2.8 |
| Return on equity, % | 24.3 | 27.3 | 23.1 | 26.8 | 22.0 |
| Equity ratio, % **) | 29.0 | 29.9 | 28.4 | 32.1 | 32.5 |
| Return on investment % | 24.8 | 28.5 | 25.1 | 26.8 | 15.8 |
| Net gearing (Gearing) % | -46.8 | -89.7 | -50.3 | -30.9 | -21.8 |
| Personnel, average | 1,768 | 1,744 | 1,675 | 1,647 | 1,691 |
| Occupational accidents resulting in absence from work ***) | 6.3 | 6.3 | 6.1 | 6.5 | 13.1 |
| Order backlog at the end of the reporting period | 756.5 | 634.7 | 663.2 | 754.7 | 708.6 |
| *) Comparable operating profit has been adjusted for items related to the change of ownership. **) In 2024 accounts receivables and accounts payables have been netted against advances received and given. The comparison period has been adjusted, but not previous years. ***) Occupational accidents per million working hours. | |||||
Outlook
The Finnish economy as well as the construction sector are expected to turn to slight growth, although the geopolitical situation creates uncertainty.
The record-high order backlog at the end of 2024 creates a good starting point for the coming years. It is also supported by measures to improve project management, a growth strategy in selected service areas, customer work, and systematic preparation for various disruptions. Additionally, a balanced business portfolio creates resilience against increasingly unpredictable changes in the operating environment. Together, these factors provide a relatively good foundation for the company’s growth and profitability improvement also in 2025.
Destia’s financial statements and annual report for 2024 have been published on the company’s website: https://www.destia.fi/en/about-us/financial-information/
About Destia
Destia is the largest infrastructure service company in Finland and part of the global Colas Group. We create the foundations of a well-functioning society by designing, building and maintaining traffic and energy infrastructure for tomorrow. We do this with the unique sense of infrastructure of our approximately 1,800 professionals. Our revenue amounted to approximately MEUR 630 in 2024. www.destia.fi/en/
Media enquiries:
Hanna Malmivaara, Communications Manager
Tel. 040 561 6568
Email: hanna.malmivaara@destia.fi