The Group's turnover is expected to be EUR 34–38 million and EBITDA 8–11 per cent of turnover in 2023.
Assessing the development of the Group's turnover in the current, still uncertain global economic situation is challenging. The Group aims to continue its growth-oriented strategy and expand its business by increasing its own market share in the hydraulic cylinder market and launching new digital, energy-efficient and smart products and services to the market. Over the next few years, growth is expected to accelerate significantly as a result of the additional capacity provided by the new facility and the market introduction of the aforementioned digital products and services. The Group's target for 2027 is a turnover of over EUR 70 million, digital products and services accounting for over 30 per cent of turnover and EBITDA of at least 16 per cent of turnover.
The investments in product development and the commercialisation of digital solutions will continue during the current financial period. With the new production facility and the investments in machinery and equipment made there, the growth in turnover is expected to continue in the coming years. Similarly, the improvement in productivity and competitiveness is expected to improve with new investments made and planned.
Norrhydro Group Oyj
Headquarter & production
FI-96100 Rovaniemi, Finland
Cargo-in: +358 40 618 4054
FI-33840 Tampere, Finland
FI-70210 Kuopio, Finland