Elomatic Ltd’s turnover grew by over 30% in the 2017 financial year, peaking at a record 72 million euros. At the same time the number of employees rose to over 850. The outlook is positive and the company predicts growth for 2018 as well.
The most significant, but not only factor that contributed to the strong growth has been the Marine Business Unit’s Global Class passenger ship design project for MV Werften. Elomatic’s other business units and daughter companies also reported excellent financial and workload figures for the 2017 financial year.
“After several challenging years we have got our business operations to the desired level. This has been achieved by hard work, the right attitude and general improvements in the market,” says Elomatic CEO Patrik Rautaheimo.
Acquisitions boost know-how and capacity
During the financial year Elomatic made several strategic acquisitions to strengthen its services and broaden its know-how.
In February 2017 Elomatic strengthened its consulting and mechanical engineering services by acquiring Afore Consulting Oy.
In September 2017 it broadened its know-how by acquiring Process Flow Solution Ltd Oy and Finflo Oy. Elomatic became the leading technical analysis company in Finland when the almost 20 employees of the companies acquired were transferred to Elomatic.
”The growth has been mainly organic, but we have also expanded our operations with acquisitions. The goal is to serve our customers even more comprehensively by offering them added special expertise. There are still interesting companies on the market and it is possible that we will be making more strategic acquisitions in 2018,” says Rautaheimo.