Elomatic, an international provider of engineering and consulting services, has recorded a 14% increase in turnover for the recently completed financial year compared to the previous financial year. Turnover for the period amounted to €46 million, of which 14% was accounted for by Cadmatic, which develops and markets 3D design software. During the period Elomatic hired more than 60 employees, of which over half in Finland. Elomatic has over 700 employees globally.
The growth in turnover is based mainly on commissions received in large international process industry investment projects and domestic energy sector projects. In the summer of 2012, the delivery of a turnkey infusion solution plant in Turkmenistan was started, which continues to provide work for Elomatic's process experts in its offices in Finland and India. The increased interest of industrial companies in optimizing energy efficiency and taking new energy technologies into use was reflected in several new commissions for Elomatic. An example of this is Elomatic's design and implementation of a globally unique heat pump solution for the Valio factory in Seinäjoki. Elomatic's visualisation team was responsible for producing the animation used by Valio to easily present the benefits and savings of the system. Over 30 Elomatic experts have been taking part in design and installation supervision tasks at the Finnprotein soy processing plant under construction in Uusikaupunki. Construction will be completed in 2013.
Despite strong growth in turnover, profitability has remained at modest levels. This is mainly the result of intense competition and investments in developing know-how. The financial result is nevertheless generally in line with the rest of the engineering sector.
During the financial year Elomatic established an offshore sector engineering office in Astrakhan, Russia and bought up the minority shareholding of its Polish daughter company. Despite uncertainty in the global economy, the outlook for the current financial year is cautiously positive.