CEO’s Overview

We will seize opportunities

IN 2024, we operated in a world still characterised by economic and geopolitical uncertainty. Trade relations between the major economies of the US, China and the EU remained strained, with protectionist measures and tariffs affecting global supply chains. These challenges created uncertainty for many companies, but the KWH Group, thanks to its flexible structure and long-term strategy, was able to navigate this complex environment and achieve stability and growth.

Sustainability and climate issues have become increasingly central, and we are seeing an accelerating transition towards green technologies and the circular economy. Governments around the world are introducing stricter environmental rules and companies are expected to take more responsibility for sustainable development. The KWH Group is well positioned for this transition, and we have already started initiatives that strengthen our role as pioneers in our industries. For example, Mirka is leading the way with projects supporting the circular economy. In addition, all business divisions are working actively to ensure reliable sustainability reporting under the CSRD (Corporate Sustainability Reporting Directive) framework.

DIGITAL TRANSFORMATION is a key trend that continues to drive developments in industry. Investments in digital infrastructure, artificial intelligence and automation create new opportunities for efficiency and innovation. At KWH, we are working actively to implement digital solutions that optimise our processes and give us a continued competitive edge. At the same time, we face growing cybersecurity threats which require continuous investment to protect our operations and our customers’ data.

2024 brought both challenges and successes. We started the year with strikes affecting our operations, but the situation stabilised in the second half of the year. The global market remained challenging, characterised by political uncertainty and structural problems in several European countries. At the same time, the situation in the United States was surprisingly positive, and the decline in inflation, combined with subsequent interest rate cuts, helped stimulate the market. Despite the challenges, the KWH Group managed to maintain strong profitability and delivered its best result ever.

OUR SALES rose to EUR 625.1 million, with an operating profit of EUR 76.9 million. Net profit for the financial year totalled EUR 63.1 million, the best in the Group’s history.

Looking ahead to 2025, we are confident that global GNP growth will be stable, but with significant differences across regions and sectors. The US is expected to continue to benefit from tax cuts and deregulation, while Europe and China face continued structural challenges. Political uncertainty remains, and we need to prepare to deal with the consequences of both escalating existing crises and any new challenges that may arise.

THE KWH GROUP has a clear strategy for profitable growth. We continue to develop and market high-quality products and solutions in abrasives, abrasive equipment and plastic products as well as logistics solutions in port operations, industrial services and frozen storage. We focus on markets with development potential and continue to invest in innovation and efficiency to strengthen our competitiveness.

With our long-term commitment, our ability to adapt to a changing environment and our strong corporate spirit, I am convinced that we have everything we need to continue our successful journey. With our dedicated employees and valuable partners, we look forward to creating long-term value for our customers and stakeholders. With a continued focus on innovation and sustainability, we are ready to meet the opportunities and challenges of the future.

Kjell Antus
CEO

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