Nordic Markets 2024: Finland seeks recovery, Sweden braces for a pause

As we close the books on 2024, it’s evident that Finnish publicly traded companies faced another challenging year. The anticipated recovery did not materialize; instead, 2024 marked the second consecutive year of revenue decline. However, equity analysts continue to predict modest revenue growth alongside solid profit gains for Finnish companies.

Meanwhile, across the Gulf, Swedish public companies experienced stagnant revenue growth compared to 2023, but benefited from strong profit growth, largely driven by the country’s robust finance sector. Looking ahead to 2025, the outlook appears less optimistic for Swedish firms, with both aggregate revenue and especially profits expected to decline. However, the underlying fundamentals remain strong, and a clear growth trajectory is projected for 2026.

Key insights:

• While Finnish public companies faced a challenging year, early signs of recovery are emerging in the industrial and consumer sectors.
• Also Sweden’s consumer and industrial sectors are forecasted to be in the best position for growth in 2025, despite on aggregate level a small revenue decline is forecasted for Swedish public companies in total
• Equity analysts expect companies across most industries in Finland and Sweden to improve their profitability over the next two years

Our full report provides an in-depth sector-level analysis of Finnish companies’ financial performance and benchmarks them against their Swedish counterparts, offering valuable insights for investors and business leaders navigating the Nordic market.

Download the full report here.

For further information, please contact:

Tomi Ere
Partner
August Associates
+358 40 823 3848
firstname.lastname@august.fi

Olli Lehtonen
Partner
August Associates
+358 50 371 4110
firstname.lastname@august.fi

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