The Algol Group’s business continued to develop steadily in 2024. Although the operating result weakened in line with expectations compared to the previous two years, it remained at a good level. The operating profit amounted to EUR 7.8 million, which corresponds to the Group-level performance target set for the year. The results for the Group’s business sectors were also well in line with expectations. The decline in net sales to EUR 194 million was mainly due to declining raw material prices and the weakening of investment demand in the project business.
Outlook for the current year continues to be stable
The current year still looks stable for Algol. The outlook for industrial investments has improved somewhat compared to a year ago. Algol Group companies operate in many different sectors and regions, which provides stability also in times of uncertainty.
According to our forecast, net sales and the result at the Group level will improve in 2025. We continue to aim for moderate growth, continuous long-term improvement in our results and strengthening our balance sheet.
| 2024 | 2023 | 2022 | |
| Net sales, MEUR | 194 | 208 | 233 |
| EBITDA, MEUR | 9.3 | 13.7 | 14.4 |
| EBIT, MEUR | 7.8 | 12.2 | 11.7 |
| Result after taxes, MEUR | 5.9 | 8.5 | 7.8 |
| ROE, % | 16 | 26 | 27 |
| Solidity, % | 49.6 | 44.7 | 36.0 |
| Net debt, MEUR | Net debt free | Net debt free | Net debt free |
| Number of personnel on average | 485 | 465 | 476 |
Further information
Alexander Bargum, CEO, Algol Oy, tel. +358 40 732 3232
Algol in brief
Algol is a family-owned business and multi-branch group with more than 130 years of experience in international trade. Our companies import, market and manufacture products for industry and the healthcare sector. In addition, Algol companies offer services related to their business areas, such as design services, tailored delivery solutions, and installation, maintenance and training services. We are building a successful and sustainable future for our partners. Algol employs nearly 500 experts in ten different countries. www.algol.fi