General
FORCIT Group comprises three business units: FORCIT Defence is orientated towards the armed forces and manufacturers of defence materials; FORCIT Explosives operates in the field of civil explosives, including software related to drilling and blasting; and FORCIT Consulting organises trainings and provides measurement, monitoring and consulting services for environmental impact management of construction.
The target of FORCIT’s Defence business unit is to be the world’s leading provider of anti-access and area denial solutions for both land and sea. In Explosives and Consulting business units, FORCIT’s goal is to continue developing its position as the Nordic market leader and preferred supplier of services, products and knowledge related to explosives, charging, and monitoring of environmental impact.
Throughout the year 2025, FORCIT has continued to invest significantly in expanding its production capacity and developing its technology further. The company announced its intent to invest over 200 million euros in a new TNT production plant in Finland. Furthermore, the company made significant recruitments during the year to strengthen its resources.
FORCIT’s quality system is certified according to the ISO 9001 standard, and its environmental system according to the ISO 14001 standard. The Defence business is certified to NATO’s AQAP 2110 quality norms. Apart from the ISO and AQAP standards, the Defence business has also been accredited in compliance with the Finnish National Security Auditing Criteria (KATAKRI).
Financial overview
In 2025, the financial development of the company was positive, driven mainly by strong growth in the Defence business unit. The demand for the company’s defence offering has been strong. The overall European economic development and the continued challenging Nordic construction market resulted in a demanding business environment for Explosives and especially for the Consulting business unit. The price of energy and key raw materials remained largely stable.
The key figures below describe the development during 2023-2025. Group level operating profit improved significantly in 2025 compared to 2024.
| The Group | 2025 | 2024 | 2023 |
|---|---|---|---|
| Net Sales, million Euro | 497.6 | 275.6 | 214.3 |
| Operating profit, million Euro | 159.8 | 47.0 | 26.6 |
| Operating profit as % of net sales | 32.1 | 17.1. | 12.4 |
| Return on equity (%) | 84.3 | 39.7 | 30.5 |
| Solidity % | 44.0 | 39.1 | 55.1 |
| Average number of employees | 718 | 620 | 553 |
| Salaries & renumeration, million Euro | 48.5 | 39.8 | 34.2 |
| Investments, million Euro | 66.5 | 148.3 | 28.1 |
| The Parent company | 2025 | 2024 | 2023 |
|---|---|---|---|
| Net Sales, million Euro | 304.3 | 150.9 | 109.8 |
| Operating profit, million Euro | 74.6 | 16.9 | 13.6 |
| Operating profit as % of net sales | 24.5 | 11.2 | 12.3 |
| Return on equity (%) | 31.5 | 16.9 | 25.5 |
| Solidity % | 36.5 | 35.0 | 49.3 |
| Average number of employees | 429 | 338 | 288 |
| Salaries & renumeration, million Euro | 29.7 | 22.6 | 18.6 |
| Investment, million Euro | 53.0 | 140.0 | 19.3 |
Sustainability
During 2025, the company progressed on its plan to reach CO2 neutrality in its operations by 2035. Furthermore, the company collected and analysed ESG data in preparation for future CSRD reporting. The company is not yet in the CSRD scope based on the changed regulations.
R&D work connected to sustainability focused on the recycling of emulsion components, and the further development of a nitrogen-free product range.
Safety and security
Safety is always FORCIT’s key priority. In 2025, the company continued to invest in safety and to strengthen its safety culture. The Lost Time Injury Frequency (LTIF) was 2.5 (zero in 2024). The company also continued developing its security policies and procedures related to both cyber and physical security. The company prioritised the introduction of new personnel, as its headcount increased notably during the year.
Personnel
FORCIT Group’s personnel continued to increase along with growing operations. At the end of 2025, FORCIT had 748 employees, an increase of 13% versus 2024. The sick absence declined further to 2.8% in 2025 (3,1% 2024).
In 2025, a personnel survey was conducted throughout the Group to measure personnel engagement and satisfaction. The results remained good and showed that the personnel’s engagement continues to be at good level, with eNPS index at 43 (50 2024).
Administration
At Oy Forcit Ab’s annual general meeting on April 8, 2025, the board of directors was re-elected, consisting of Hans Karlander, Lauri Stadigh, Alexander Tallberg, Pasi Tolppanen Jori Harju and Edoardo Santamaria. Lauri Stadigh continued as the chairperson of the board and Joakim Westerlund continued as FORCIT Group’s CEO. The company’s auditors have been KPMG Oy Ab, with Christian Hällström as the auditor in charge, CGR.
The Board of directors’ proposal for the allocation of profits
If the annual accounts are accepted, Oy Forcit Ab’s general meeting has at its disposal
| Disposition fund | 48,446,221.97 EUR |
| Reserve for invested unrestricted equity | 973,066.09 EUR |
| Profit for the financial period | 120,463,697.06 EUR |
| Total | 169,882,985.12 EUR |
The board of directors proposes that the funds be allocated as follows:
| Paid out to the shareholders as a dividend: | |
|---|---|
| 200 euro/share | 39 962 200,00 EUR |
| Disposition fund | 128 947 719,03 EUR |
| Reserve for invested unrestricted equity | 973,066.09 EUR |
| Total | 169,882,985.12 EUR |
No significant changes have occurred in the company’s financial position after the end of the financial year. The company’s liquidity is good, and the proposed allocation of profit does not compromise the company’s solvency.
Shares in the company
The company has only one series of shares. Each share carries one vote at shareholder meetings and confers identical dividend rights.
| Number of shares | 2025 | 2024 | 2023 |
|---|---|---|---|
| 199,811 | 201,160 | 201,360 |
The company has a valid authorisation to issue new shares and repurchase shares. During the financial year, the parent company repurchased 1,655 of its own shares for a total of 502,091 euros, which were booked against the fund for invested unrestricted equity. The company issued 306 new shares for a total of 424,694 euros, which were booked against the fund for invested unrestricted equity.
Loans to related parties
The company has granted loans to group companies. The total amount of the loans is 192,883.15 euros and the loan period is a maximum of 5 years. The loans are repaid in even instalments, and the interest is paid in conjunction with the loan instalment. The interest on the loans is variable. The loans do not have collateral.