In the year 2020 forest machine manufacturer Logset Oy had a turnover of Euro 37.5 million, compared to Euro 48 million in 2019. FY 2020 operating profit was Euro 0.9 million, compared to Euro 2.5 million in 2019.
2020 was abnormal and challenging in many ways. After a strong start the market momentarily collapsed due to the global Corona pandemic. Logset reacted fast and made measures to tackle the dramatic changes in market conditions.
“Now afterwards I can say that using the different scenario models at an early stage was the right choice. The result of 2020 is a great achievement and I’m very proud of our personnel. Thanks to the size of our company and great team work, we were able to act quickly and respond to the rapidly changed market conditions,” says CEO Tommi Ekman.
During the summer of 2020, the demand for forest machines started to grow. The 4Q 2020 was strong for Logset. The plan to develop company financials was achieved and Logset is stronger than ever to start the year 2021. The market conditions in the year 2021 are looking good regardless of the Corona pandemic limiting business travel.
Logset Oy is a Finnish forest machine manufacturer located in Koivulahti, near Vaasa.
