August’s report sheds light on the financial performance of Finnish public and SME companies in 2023

Finnish economy getting worse before it gets better?

As the leading local strategy consultant, August Associates is publishing a report that summarizes the financial performance of Finnish publicly listed firms and SMEs during previous year 2023. The report focuses on analyzing industry-specific trends in revenue and profitability development. For SME companies, the analysis is based on Accountor’s real-time financial data from approximately 10,000 SMEs. For publicly listed firms, we use financial information reported by the firms listed in Nasdaq Helsinki.

Access the comprehensive report here at no cost.

This report offers in-depth sector-level insights and analysis of the financial performance of Finnish companies, completed with analysts consensus estimates on future prospects.

Report main highlights:

  • The aggregate revenue generated by Finnish listed companies in 2023 declined by -5% compared to the previous year which was a high watermark
  • The aggregate operating profit in 2023 declined more than expected, -14%, driven by major profit declines in Forest and Materials sectors
  • Analysts expect almost flat future revenue development, but a rapid rebound in operating profits – however, August’s evaluation of past forecast accuracy reveals overly optimistic operating profit expectations in previous years (see full report)
  • SME companies operating in B2C industries have performed much stronger than those in B2B industries such as Construction and Manufacturing

Accountor provides software solutions and outsourcing services for finance and HR. Thanks to its digital finance and accounting solutions, Accountor is uniquely positioned to accumulate real-time data on Finnish Small and Medium–sized Enterprises (SMEs). More on their website.