Annual Report

CEO’s Greetings

The past year has shown us that being safe, secure and stable is not the same as becoming stagnant. In a time where uncertainty has become the new normal and the global economy is yet to find its feet, FORCIT Group has been able to continue on a path of steady growth and profitability. Also, investments have been made to ensure our current customers will continue to find their partner of choice in us, as well as to allow us to cater to new opportunities with a growing portfolio and capacity.

Group financials and activities

In 2024, the financial development of the company was positive, driven by growth in the Defence business unit. The overall European economic development and the challenging Nordic construction market resulted in a demanding business environment for the Explosives and Consulting business units. Price of energy and key raw materials remained largely stable.

Business unit development

FORCIT Explosives’ revenue declined slightly during 2024 with lower volumes to the mining segment.

FORCIT Defence continued to grow, and the order book remained at a high level.

FORCIT Consulting’s revenue grew in 2024 despite challenging market conditions.

Forecasts and Predictions

In summary, the company expects an increase in sales in 2025 compared to 2024, driven mainly by an increased demand in Defence products. The company expects the growth to be profitable.