- Turnover was EUR 145.8 (125.0) million.
- EBITDA was EUR 2.4 (-0.3) million.
- Operating profit was EUR -3.2 (-3.4) million.
- Operating profit excluding gains/losses from corporate arrangements and one-time impairments of non-current assets was EUR 1.7 (-3.4) million.
The operating profit of the Voimatel Group was EUR -3.2 (-3.4) million. The operating profit of the Voimatel Group, excluding gains/losses from corporate arrangements and impairments of non-current assets, was EUR 1.7 (-3.4) million. Voimatel’s operational profitability turned significantly positive; however, adjustments related to the electricity network business and impairments of non-current assets continued to weigh on the operating profit for the year 2023, resulting in a loss.
Initiated in 2022, the restructuring measures and volume growth have steered the company in the right direction to improve profitability. Challenges persisted in the profitability of the electricity network business, although it showed clear improvement over the previous year. Excluding gains/losses from corporate arrangements and one-time impairments of non-current assets, the operating profit for the electricity network business was EUR -1.0 (-4.0) million, for the data network business was EUR 3.0 (1.5) million, and for the Optiwatti business was EUR 0.2 (-0.2) million. The remaining operating loss of EUR -0.5 (-0.7) million consists of Voimatel Group’s shared expenses not allocated to business segments.
After the review period, on 23rd February 2024, the Competition and Consumer Authority approved the agreement between Elvera Oy, a network construction and infrastructure service company, and Voimatel Oy, an electricity and data network company, regarding the business transaction of Voimatel Oy’s electricity business. The transaction was confirmed on 28th March 2024. Voimatel’s electricity business was transferred to Elvera on 1st April 2024.
The year 2024 is expected to be profitable for Voimatel, focusing on the data network business. However, Voimatel’s early-year financial performance is affected by the electricity network business before its transfer to Elvera. Voimatel is concentrating on strengthening the profitability of its operations.
See the full annual report of the KPY Group for 2023.