Extraordinary times and unfortunate news about the challenges of the construction industry coloured the year 2023. However, improved demand and trade at the beginning of the year offer hope that we are gradually moving towards better times.
In 2023, the turnover of companies in the construction industry experienced a significant decrease, and throughout the last year, the news was understandably dominated by bankruptcy news in the industry. The beginning of 2024 has generally continued around the same themes, although there have been small signs of development in the market.
At Kuusamo Log Houses, preparations were made in 2023 when it looked like it was going to be the company’s first negative result in history. Already during the previous year, the future decline in turnover was visible. By anticipating the future, the company was able to act quickly throughout the year in adjustment activities and in terms of pricing, which helped it get through 2023 in a rather exemplary manner. Despite the difficult year, the result for 2023 is positive, and thus, the company’s history of positive results achieved during each of the company’s 25 years of operation continues.
-In financial terms, our company is still one of the top companies in the industry. Moderate operations and focusing on our core expertise are important factors that, even during the most difficult times, allow us still to be a partner worthy of our customers’ trust. The key financial figures of the company are in order, and to our delight, we have noticed that customers are even more interested in them when choosing a reliable partner for their project. These starting points lay out a good foundation to continue to 2024. Small signs of development are on the horizon, and now it’s more about when things will really take off and the construction debt accumulated last year can begin to be reduced, says Business Director of Kuusamo Log Houses Antti Hokkinen.
Read more about our key financial figures here.
