Granlund continued its strong growth
12.2.2025 – In 2024, Granlund performed well in the challenging real estate and construction market. Data center, renovation, software and public sector projects provided employment also in a more challenging economic situation.
Design and consulting company Granlund reached a positive result in 2024. The Group’s net sales increased by approximately 9 % year-on-year to EUR 152.1 million (EUR 139.3 million). EBITDA was EUR 20.4 million (EUR 18.1 million) and operating profit EUR 14.4 million (EUR 12.7 million)*.
The growth was rendered possible by Granlund’s strong customer relationships and expertise in technically challenging projects. The data center sector saw record growth, with both construction management and supervision as well as the software business increasing. Projects had a higher emphasis on renovation than new construction.
“Considering the current market situation, we can be very pleased with last year’s results. On average, our net sales improved in most business areas. However, the challenging situation in the industry did reflect differently in some of our business units,” says Pekka Metsi, CEO, Granlund.
Considering the current market situation, we can be very pleased with last year’s results.
Pekka Metsi, CEO, Granlund Group
The role of data will increase in construction industry
According to Metsi, new services specifically designed to enhance productivity in the construction industry will generate growth opportunities in the future. The role of data will increase in design and consulting services. Sustainability and energy expertise related to the green transition will also be highlighted.
“Data-based solutions enable us to provide our customers with even more efficient ways, for example, to control costs and schedules, improve energy efficiency and monitor the carbon footprint. We want to take all of our operations in an even more data-driven direction, further improving productivity and quality during the construction period and throughout the building’s lifecycle,” says Metsi.
The acquisitions focused particularly on architectural and structural design
During the year, Granlund grew both organically and through acquisitions. The acquisitions focused particularly on architectural and structural design as well as construction management, all strategic growth areas for the company. In Finland, Rakennuttajatoimisto Rantatupa Oy, Arkkitehtityö Virtanen Oy, Arkkitehtitoimisto Jääskeläinen Oy and Raami Arkkitehdit Oy were brought into the fold. In Sweden, a deal was reached with K-Lab Projektering AB.
Recruitment hit record numbers, with the number of employees increasing by more than a hundred experts. At the end of 2024, the number of employees was 1,545 (1,423). “As an industry employer, Granlund is an attractive proposition, and we have managed to recruit superb talent. It has also been wonderful to see that our employee satisfaction has remained at a high level,” says Metsi.
When it comes to expert work, the well-being and motivation of the team play a key role.
Pekka Metsi, CEO, Granlund Group
Based on Granlund’s personnel survey, 94% of employees are satisfied with their workplace. “First and foremost, we have our experts to thank for last year’s great result. When it comes to expert work, the well-being and motivation of the team play a key role,” says Metsi. A total of EUR 4.1 million (EUR 3.0 million) performance bonus is paid to the staff.
Customer satisfaction has remained high
Granlund’s customer satisfaction has also remained high. The Net Promoter Score (NPS) for the entire Granlund Group increased to 49 (compared to 44 in 2022), and the overall satisfaction rating was 4.08 (on a scale of 1–5). Overall satisfaction improved across all business areas.
“Our customers appreciate Granlund’s expertise, understanding of customer needs, quality, and commitment to responsibility. We are committed to maintaining these strengths while also continuing to offer our customers new and innovative solutions throughout the entire lifecycle of their properties,” says Metsi.
Our customers appreciate Granlund’s expertise, understanding of customer needs, quality, and commitment to responsibility.
Pekka Metsi, CEO, Granlund Group
During the year, Granlund’s ownership base changed when the global alternative asset manager ICG became a minority owner in the summer. At the end of the year, there were also changes taking place in Granlund’s Board of Directors. Increasingly, the goal is to steer Granlund towards growth and internationalisation goals. “In internationalisation, we are banking on the strengths we are famous for in Finland. We want to be especially strong in the customer sectors supported by our technological, energy and sustainability expertise,” says Metsi.
Development and business overview
In the innovation and development operations, Granlund continued its multifaceted cooperation with industry operators, customers and partners, both in Finland and internationally. The company invested EUR 9 million, approximately 6% of the consolidated net sales in development and innovation. The principal development themes were the digital green transition, data management and energy.
In the design services, demand fluctuated across the different business units. There were more projects launched in the public sector than in the private sector, with the focus on renovation. In MEP design, Granlund maintained its position as the market leader. It was a record-breaking year for the data center sector, while in hospital design, the emphasis was on major projects. Of the newer businesses, structural and architectural design grew in line with the targets.
For consultancy, it was a wait-and-see year. The number of property sales was at a record low and price competition was savage. In energy consultancy and property management, the growth targets were not met in all respects. However, the continuous services offered to our regular customers kept our experts busy. Business intelligence was also highlighted. In sustainability consulting, the range of services was expanded and demand increased towards the end of the year.
The software business met its growth targets. Even in a difficult financial situation, many operators saw software and data solutions as a way to improve their productivity and business intelligence. Granlund Manager maintained its position as the most popular property management software in Finland.
On the construction management and supervision markets, competition intensified, but Granlund’s net sales increased in line with the targets regardless. The operations expanded to cover all of Finland, and our experts were especially busy with demanding sites and renovation. The year was quieter for the condition survey services, although the net sales increased with regard to cost control and 4D design.
In property management, net sales and profitability improved in accordance with the strategic goals and we also managed to land new customers.
*The figures are unaudited.
More information
Pekka Metsi
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