Year of growth, growth investments and M&A activities

The year 2016 was a year of growth and M&A activities. Our work to achieve growth and boost our clients’ success in Finland, the Nordics and globally will continue in 2017.

The past financial year saw several internal and external changes. In some of them, we succeeded, in some others, work was still left for 2017. On the whole, Solteq took major strategic steps forward.

Last year, our growth, +16%, was both organic and inorganic. We have strategic growth areas in which annual organic growth alone is almost 20%, but we also have areas in which both the revenue and operating profit decreased. In the last quarter, we launched measures to improve profitability in these areas.

In 2016, we actively screened potential company acquisition targets in the Nordics. The M&A activities that we took, e.g. divestment of MainIoT Oy, purchase of Aponsa AB in Sweden, purchase of Pardco Group Oy in Finland and establishment of a Magento competence center, were important both geographically and in view of our solution offering. We also carried out negotiations on a major international M&A-deal but decided not to proceed in them due to the risks involved.

We will also continue measures and surveys to establish the most effective ways to utilise our good financial and capital position. One example is that the Board of Directors has proposed to the Annual General Meeting that a dividend of € 0.05 per share be distributed this year.


Employees’ wellbeing creates good business

Our employees are at the core of our business. They are humane, top-class experts whose contribution is an important part of what we create for our clients.

In the past year, we invested in the wellbeing of our employees in many different ways. The Solteq Academy, the definition of the cornerstones of our corporate culture and the decision to use the extra hours resulting from the government’s Competitiveness Pact on physical activities are examples of investments that promote the wellness and wellbeing of current and future Solteq employees.

As our business operations expand, new markets and solutions offer our employees opportunities to develop their career paths in Finland and abroad.


Always one step ahead of – for the benefit of the client

Exceeding the expectations of our clients has become an important goal for us. Our task is to provide a winning offering in omnichannel business for small, mid-market and large clients and help them succeed – we have to be one step ahead of others. Today, we already help our clients create better customer experiences in more than 30 countries, and this work will continue.

New business and service models are the cornerstones of our development. Our goal is that service business will account for 95% of our business for the part of new solutions by 2018. We believe that this will be the way for us to succeed better with our small and mid-market industrial, wholesale and retail clients in Finland, the Nordics and globally.

We extend our thanks to our clients and stakeholder groups for last year’s successes, challenges tackled together, new thoughts and good collaboration. Together, we will make 2017 an even better year.


Repe Harmanen Solteq

Repe Harmanen
+358 400 467 717

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Annual Report 2016

CEO's review 2016


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