Sitowise continued to grow and expanded its operations into Sweden in 2019
The Sitowise Group remained on a growth track in 2019. The company’s pro forma net sales grew by 17.5 per cent in 2019, rising to EUR 159 million (EUR 135 million). Profitability remained at a good level and EBITDA amounted to 12.9% (12.5%) of net sales. The number of experts at the Group rose to over 1,700. Sitowise aims to be the most responsible partner in the development of a prosperous living environment.
“We seek to achieve net sales of EUR 200 million in 2022. Our profitable growth last year and our strong order backlog at the turn of the year pave the way towards this objective. To ensure our success, it’s especially important to maintain both our customer and personnel satisfaction at a good level,” says CEO Pekka Eloholma.
Growth opportunities in responsible construction
The Sitowise Group focuses on responsibility in its operations and has set itself the strategic objective of being the most responsible partner in building a prosperous living environment.
“Growth is generated by responsibility. Both our customers and society have an increasing need for smart, responsibility-based consulting and design services. Our society is becoming urbanised and new approaches are required to solve environmental issues – the real-estate and construction industry plays a key role in this. We have a significant influence on how people live and move, and this creates growing demand for our expertise,” adds Eloholma.
Growth is generated by responsibility. Our society is becoming urbanised and new ap-proaches are required to solve environmental issues – the real-estate and construction industry plays a key role in this.
Expansion into the Swedish market
In 2019, the Sitowise Group expanded into Sweden. Two companies joined the Group: Byggnadstekniska Byrån Ab, which operates in Stockholm, Gothenburg and Uppsala, and K&S Construct Ab, which is active in Örebro. The Sitowise Group gained 155 new structural engineers through acquisitions.
“As we venture into Sweden in 2020, we are strongly positioned in terms of both our structural design expertise and geographical coverage. We are seeking profitable growth in the design market for the built environment both organically and through acquisitions.”
In Finland, Sitowise bolstered its position with six acquisitions in areas such as environmental studies, hospital and institutional kitchen design and high-rise construction design.
Aiming to be IPO ready by the end of 2020
The Group will publish its FAS financial statements and annual report for the financial year that ended on 31 December 2019 by 9 April 2020 at the latest. Sitowise aims to be IPO ready by the end of 2020.
CEO Pekka Eloholma, tel. + 358 50 555 5590
CFO Heidi Karlsson, tel. +358 40 759 3320
Sitowise provides its customers with a complete range of design and consulting services for the built environment. The company employs 1,700 experts, around 1,500 in Finland and the rest in Sweden, Estonia and Latvia. Sitowise is a pioneer whose strategic objective is to be the most responsible partner in building a prosperous living environment and to offer the best customer experience. The company’s success is based on highly value-driven personnel who enjoy and are enthusiastic about their work and develop their expertise. Sitowise is owned by Intera Partners and the company’s approximately 200 key employees.
Sitowise Group, key figures for 1 January – 31 December 2019 (FAS)
The pro forma figures include all of the Group companies and acquired companies as if they had been part of the Group for the entirety of the financial year in which they were acquired. Discontinued operations are not included in the pro forma figures.
In addition, nonrecurring expenses due to corporate and structural arrangements, which totalled about EUR 1.9 (1.0) million in 2019, capital gains from the sale of shares in an associated company in 2018 and capital losses from the sale of subsidiary shares in 2019 have been adjusted out from the pro forma EBITDA.
Breakdown of net sales by business area:
The comparative net sales numbers for 2018/ have been amended since last year due to reorganisation.