Financial information

In 2021 DEN Group’s revenue increased by 19.9 per cent, from EUR 174 million to EUR 208.7 million. Our EBITDA decreased slightly from EUR 15.1 million to EUR 14.0 million.

The number of personnel rose by almost 70 to reach 518 at the end of the financial year.

DEN’s company credit rating is certified by Suomen Asiakastieto as belonging to the highest two categories (AA+/AAA).

Financial development

In 2021, the consumers’ purchasing power restrained by pandemic measures was strongly directed at living. Spending on construction projects for new single-family homes in Finland increased by a quarter, and DEN sold almost 45 per cent more houses than in the previous year.

The positive development of sales as well as the smooth operation of our factories and construction sites helped the group exceed its sales goals. The group’s EBITDA was strained by material costs rising greatly beginning in the summer.

The group made an operating profit of EUR 10.5 million and a consolidated profit of EUR 7.5 million in the financial year.

DEN Group’s financial statements have been prepared in accordance with IFRS.

The Group made an operating profit of EUR 10.5 million. The consolidated profit for the period was EUR 7.5 million.

DEN Group’s consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS).

Financial position and financing

DEN Group’s equity ratio at the end of the financial year was 59.3% (12/2020: 56.8%).

Net gearing was 19.7% (12/2020: 28.7%).

Ownership

DEN Finland is part of DEN Group.

DEN Group 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.

Reports and Presentations

DEN Group’s Annual Report and 2021 Financial Statements here.

DEN Group’s Annual Report and 2020 Financial Statements here.

DEN Group’s Annual Report and 2019 Financial Statements here.

DEN Group’s Annual Report and 2018 Financial Statements here.

DEN Group’s Annual Report and 2017 Financial Statements here.