Kemppi Oy, a family-owned company based in Lahti, Finland, specializing in the design and manufacture of arc welding equipment and software, as well as the production and marketing of welding-related products and services, reported a consolidated turnover of EUR 159.0M (compared to EUR 165.0M in 2023), reflecting a 3.6% decline from the previous year. The decrease was primarily due to a weaker market environment, particularly in the company’s core European market.
The Group’s operating profit (EBIT) for 2024 stood at EUR 15.1M (EUR 16.0M adjusted in 2023), while profit before tax amounted to EUR 14.6M (EUR 15.4M adjusted in 2023). Lower net sales, combined with persistently high business costs driven by inflation, negatively impacted profitability.
Throughout 2024, Kemppi remained committed to product innovation, with a strong focus on renewing its product portfolio. The launch of new products continued as planned, and the Group’s R&D expenditure for the year totalled EUR 10.7M (EUR 12.0M adjusted in 2023), representing 6.7% of net sales (7.2% adjusted in 2023). Production volumes declined due to subdued demand throughout the year. Additionally, procurement and logistics costs increased, driven by rising raw material prices and geopolitical tensions in the Red Sea region.