Conficap had a strong year in its first full financial period
Year 2019 was the first full financial period for the Conficap Group. The Group’s first financial period spanned the last eight months of 2018. Net sales in 2019 amounted to 493.5 million euros. The Group’s operating result was 29.6 million euros.
“For Conficap, year 2019 was marked by strong performance in all business sectors. Corporate and property acquisitions were used to invest in the growth of building services and property business activities. Investment activities provided better-than-expected profits along with the positive market trend. In addition, the company’s strategy was updated by the Board of Directors and the Management Team. The Group’s solidity and liquidity remain strong,” says Maarit Toivanen, CEO and Chair of the Board of Conficap Oy.
Building services company Are continued on its growth path in Sweden. In early 2019, Are acquired Kungälvs Rörlaggeri, the leading plumbing contracting and maintenance company in the Gothenburg region. After the end of the accounting period, Are continued to strengthen its position in Sweden by acquiring the entire issued stock of Climat80 AB, a company providing building services in the Malmö and Lund area.
Similarily to the previous year, the property business activities included several significant transactions. During the financial period, Conficap acquired seven new office and logistics properties in the Helsinki Metropolitan Area and the Turku region. In accordance with the strategy, properties located in Poland and Mariehamn were sold and investments in property funds were augmented to reinforce international diversification. Mall of Tripla, the largest shopping mall in Finland, celebrated its opening with unprecedented briskness in October. Conficap is an active owner in the mall with a 15 percent holding.
Investment activities had a year of strong profits. The overall market trend was also reflected in the profitability of Conficap’s investment activities as the market values of listed shares rose strongly. Shareholdings in Finland are clustered in a few considerable stakes, whereas international shareholdings are spread more widely, primarily in Europe and the United States. Conficap also carried out some selected equity placements. The Group structure was simplified as Conficap Invest Oy was merged into the parent company at the end of 2019.
“After the first part of the year, the market situation has changed dramatically. We seem to be heading toward exceptionally uncertain and challenging times. The spread of the COVID-19 virus will have an extensive impact on our entire society and the economy. However, as a family company our value base and commitment as well as our strong solidity create a strong foundation for our operation even during the turbulent times we are about to face,” Toivanen says.
Additional information:
Marko Häikiö, CFO, Conficap Oy, Tel. +358 (0)10 400 644
Press release