Order intakes surge

According to preliminary estimates, the turnover of mechanical engineering companies (machinery, metal products and vehicles) in Finland decreased by around 5 per cent in 2024 from 2023. Their turnover in Finland amounted to approximately EUR 38 billion in 2024.

The value of new orders in mechanical engineering in the October-December period was 78 per cent higher than in the previous quarter. Year-on-year, the value of new orders increased by 40 per cent. This growth is largely due to a very valuable ship order during the quarter and a few other high-value orders. The last time a ship of this size was delivered to a customer was in November 2023. At that time, ship exports saw a one-time increase of almost two billion euros.

At the end of December, the value of order books was 11 per cent higher than at the end of September and 3 per cent higher than in December 2023. It should be noted that shipyards have an exceptionally large share of the total value of order books.

On the basis of order trends at the end of last year, the turnover of mechanical engineering companies is expected to start rising gradually this year.

The number of personnel employed by mechanical engineering companies in Finland decreased by 0.4 per cent in 2024 from the 2023 average. The industry employed 136,300 people, approximately 600 less than in 2023. At the end of December, the number of personnel was 135,300.