Kemppi's revenue for 2022 grew in challenging market environment

KEMPPI     PRESS RELEASE     21.3.2023   13.30 EET

Kemppi's revenue for 2022 grew in challenging market environment

The Group revenue of Kemppi Oy, a family-owned company from Lahti, which specializes in the design and manufacturing of arc welding equipment and welding software, as well as the production and marketing of welding-related products and services, grew by 9.7% compared to the previous year, totaling EUR 195.1 (177.9) million.

The growth in turnover is driven by a favorable market situation in some markets, new product launches and successfully implemented price increases. The new welding equipment we introduced during the past year boosted sales, especially in the last quarter of the year.

“We are pleased with last year's result, as we were able to maintain our profitability at a good level and continue our growth path in the demanding component and material situation that has been developing over the long term. Thanks go out to our employees as well as our long-term partners and suppliers,” says Ville Vuori, CEO of Kemppi Oy.

The Group's operating profit in the fiscal year 2022 was EUR 24.4 (27.7) million and the result before taxes was EUR 22.7 (26.3) million. Although the Group's operating expenses increased as planned during the financial period, profitability remained at a good level. The component shortage that plagued the beginning of the year began to ease in the second half of the year, and raw material and logistics costs decreased during 2022.

Investments in the financial year 2022 were EUR 7.2 (5.0) million. A significant part of the investments was targeted at the development of new products and related tools. In product development, the focus was on renewing the product range and launching new products. The Group's product development costs were EUR 11.0 (10.5) million, or 5.6% (5.9%) of turnover.

In the circumstances of the war of aggression started by Russia in Ukraine, Kemppi Oy temporarily suspended its business operations in Russia in March 2022. Later in the spring, Kemppi Oy announced its decision to completely withdraw from Russia.

Additional information:
Ville Vuori
CEO, Kemppi Oy
Tel. +358 400 369 438
ville.vuori@kemppi.com

Distribution:
Media
www.kemppi.com

Kemppi in brief
Kemppi is the design leader in the arc welding industry. We are committed to boosting the quality and productivity of welding by continuous development of the welding arc and by working for a greener and more equal world. Kemppi supplies sustainable products, digital solutions, and services for professionals from industrial welding companies to single contractors. The usability and reliability of our products is our guiding principle. We operate with a highly skilled partner network covering over 70 countries to make its expertise locally available. Headquartered in Lahti, Finland, Kemppi employs close to 800 professionals in 16 countries and has a revenue of 195 MEUR in 2022.

Kemppi – Designed for welders