Kemppi’s 2023 revenue surges to nearly EUR 210 Million

Kemppi Oy’s Fiscal Year 2023 Performance – Strong Growth, Strategic Investments, and Sustained Profitability.

The Group revenue of Kemppi Oy, a family-owned company from Lahti, which specialises in the design and manufacturing of arc welding equipment and welding software, as well as the production and marketing of welding-related products and services, grew by 7.2 percent compared to the previous year, totaling EUR 209.0 (195.1) million.

Compared to the previous year, net sales were negatively impacted by, among other things, the closure of the Russian business in the first half of 2022 and the negative effects of exchange rates. Subcontracted sales to sister company Kempower increased during the year.

“We are pleased with last year’s result, as despite the challenging economic situation in Europe, which is our main market, we were able to maintain a good profitability, and grow our overall business. We would like to thank our customers, personnel, and long-term partners,” says Kemppi Oy’s interim CEO Katri Sahlman.

The Group’s operating profit in the fiscal year 2023 was EUR 26.0 (24.4) million and the result before taxes was EUR 25.2 (22.7) million. Although the Group’s operating expenses increased as planned during the financial period, profitability remained at a good level. Component availability improved and raw material and logistics costs remained stable.

Investments in the financial year 2023 were EUR 7.4 (7.2) million. A significant part of the investments was targeted at the production equipment, real estate, tools related to the new products, software development and product development projects. The Group’s product development costs were EUR 12.0 (11.0) million, or 5.7 percent (5.6 percent) of turnover.