Financial information
In 2023 DEN Finland’s revenue was 101,0 million EUR.
Despite the challenges in the operating environment, DEN Finland was able to strengthen its market position as Finland’s largest builder of small houses and make a positive operating result. Adjusted EBITDA was €6.3 million, which was 6.2% of turnover. Operating profit was €2.9 million.
DEN Finland is one of the strongest companies in Finland in the classification of Suomen Asiakastieto.
Financial development
In 2023, the housing market was significantly affected by inflation, rising interest rates, and overall uncertainty on the market. Numerous bankruptcies were seen in the construction sector, and clients were cautious in their decision-making. Despite the challenges of the operating environment, DEN Finland managed to strengthen its position as Finland’s largest single-family house builder and achieve a positive operating profit.
The clients continued to trust DEN Finland and its brands in spite of the difficult times in the construction industry. In 2023, 715 houses were built, 493 of which were turnkey houses. New business also achieved a good result, operating conditions considered: 706 houses. Sales were successfully kept at the pre-pandemic level and the relative profitability was good. DEN Finland’s brands are Designtalo, Finnlamelli, and Ainoakoti, a jointly managed brand of DEN Finland Oy and K-Rauta.
Financial position and financing
The Group’s equity ratio was 52.7% at the end of the financial year.
Ownership
DEN Finland is part of DEN Group.
DEN Group’s main owners are funds managed by private equity firm CapMan. Other significant shareholders are Tesi (Finnish Industry Investment Ltd) as well as a number of current and former members of DEN Group personnel.