Compared to the previous year, net sales were negatively impacted by, among other things, the closure of the Russian business in the first half of 2022 and the negative effects of exchange rates. Subcontracted sales to sister company Kempower increased during the year.

“We are pleased with last year's result, as despite the challenging economic situation in Europe, which is our main market, we were able to maintain a good profitability, and grow our overall business. We would like to thank our customers, personnel, and long-term partners,” says Kemppi Oy’s interim CEO Katri Sahlman.

The Group's operating profit in the fiscal year 2023 was EUR 26.0 (24.4) million and the result before taxes was EUR 25.2 (22.7) million. Although the Group's operating expenses increased as planned during the financial period, profitability remained at a good level. Component availability improved and raw material and logistics costs remained stable.

Investments in the financial year 2023 were EUR 7.4 (7.2) million. A significant part of the investments was targeted at the production equipment, real estate, tools related to the new products, software development and product development projects. The Group's product development costs were EUR 12.0 (11.0) million, or 5.7% (5.6%) of turnover.

Kemppi Group: 2023, 2022

Revenue (EUR million): 209.0, 195.1

Operating profit (EBIT, EUR million): 26.0, 24.4

Operating profit %: 12.4%, 12.5%

Employees: 766, 781

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 209 MEUR in 2023.

Kemppi – Designed for welders