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Technology industry / Finnish economic outlook
1. Technology industry /
Finnish economic outlook
October 2022
Jukka Palokangas
Head of Economic Affairs
jukka.palokangas@techfind.fi
1
10/5/2022 Technology Industries
of Finland
2. The Finnish technology industry is comprised of
five sub-sectors
2
10/5/2022 Technology Industries
of Finland
ELEKTRONICS AND ELECTROTECHNICAL
INDUSTRY
ABB, Ensto, Murata Electronics, Nokia,
Planmeca, Polar Electro, Suunto, Vacon,
Vaisala…
METALS INDUSTRY
Boliden, Componenta, Kuusakoski,
Luvata, Outokumpu, Ovako, Sacotec,
SSAB …
MECHANICAL ENGINEERING
Abloy, Cargotec,, Fiskars, Glaston, Kone,
Konecranes, Metso-Outotec,
Meyer Turku, Neles, Normet, Oras, Patria,
Pemamek, Ponsse, Prima Power, Stala,
Valmet, Valtra, Wärtsilä…
INFORMATION TECHNOLOGY
Basware, Bilot, CGI, Digia, Efecte, Enfo, F-
Secure, Fujitsu Finland, IBM, Innofactor,
Knowit, Microsoft, Nixu, TietoEVRY…
CONSULTING ENGINEERING
AFRY, A-Insinöörit, Citec, Elomatic,
Etteplan, FCG, Granlund, Neste Engineering
Solution,, Ramboll, Rejlers, Sitowise,
SWECO, WSP…
3. The Finnish technology industry is comprised of
five sub-sectors
3
ELEKTRONICS AND ELECTROTECHNICAL
INDUSTRY
• Data communications equipment, electrical
machinery, medical technology
• Turnover (2021): 18.0 billion euros
• Personnel (2021): 39,100
METALS INDUSTRY
• Steel products, non-ferrous metals,
castings, metallic minerals
• Turnover (2021): 14.2 billion euros
• Personnel (2021): 16,000
MECHANICAL ENGINEERING
• Machinery, metal products, vehicles
• Turnover (2021): 34.1 billion euros
• Personnel (2021): 134,200
INFORMATION TECHNOLOGY
• IT services, applications and
programming
• Turnover (2021): 16.5 billion euros
• Personnel (2021): 73,800
CONSULTING ENGINEERING
• Expertise for construction industry and
infrastructure
• Turnover (2021): 7.1 billion euros
• Personnel (2021): 54,300
10/5/2022 Technology Industries
of Finland
4. The technology industry –
the largest export sector in Finland
4
• Some 50 % of total exports.
• Some 336,000 employed directly in the
sector, including indirect effects 705,000
people.
• Effect on value added totaling € 57 billion,
or 28% of GDP value added (2017 data).
• Bring to Finland € 18 billion tax revenue
annually (2017 data).
• Investments almost EUR 6.0 billion
annually in Finland.
• 65 % of private-sector R&D investment.
10/5/2022 Technology Industries
of Finland
5. Value added to the economy generated by the
technology industry is EUR 55 billion, or over 28%
of GDP * (2017)
5
28.8, 53%
15.6, 29%
10.1, 18%
A total of EUR 54.5 billion
Impact on technology industry
(direct influence)
Impact on other industries
(indirect influence)
Impact on private consumption
(income effect)
*) GDP value added was EUR 193.3 billion in 2017.
Source: Economic Impact of the Technology Industry in Finland 11/2018
10/5/2022 Technology Industries
of Finland
6. Technology industry generates nearly 650,000 jobs
in Finland (over 25% of all employees) (2017)
6
304,600, 47%
225,800, 35%
114,600, 18%
A total of 644 900 employees
Impact on technology industry
(direct influence)
Impact on other industries
(indirect influence)
Impact on private consumption
(income effect)
10 jobs in the technology industry bring
11 jobs to the rest of the economy
Source: Economic Impact of the Technology Industry in Finland 11/2018
10/5/2022 Technology Industries
of Finland
7. Every job in the technology industry generates
almost another job in the services (2017)
7
295,100, 87%
12,200, 3%
33,100, 10%
Impact on other industries and on
private consumption: 340,300 employees
Services*
Primary production
Processing*
*) Excl. the services industries in the technology industry.
Source: Economic Impact of the Technology Industry in Finland 11/2018
10/5/2022 Technology Industries
of Finland
8. Technology industry generates over 18 billion
euros in tax revenue annually in Finland (2017)
8
9.2, 50%
4.3, 24%
4.7, 26%
A total of EUR 18.2 billion
Impact on technology industry
(direct influence)
Impact on other industries
(indirect influence)
Impact on private consumption
(income effect)
Source: Economic Impact of the Technology Industry in Finland 11/2018
10/5/2022 Technology Industries
of Finland
9. Turnover of the technology industry in Finland
9
Source: Macrobond, Statistics Finland, Technology Industries of Finland
10/5/2022 Technology Industries
of Finland
10. 10
*) In addition to goods exports the sector exported services worth some 14-15 billion euros.
Source: National Board of Customs, Statistics Finland
Export of tchnology industry goods from Finland
by area in 2021
Total goods exports 36.15 billion euros*
North America
3.10 billion €
8.6 %
Western Europe
20.91 billion €
57.8 %
South and
Middle America
1.17 billion €
3.2 %
Central and Eastern Europe
5.35 billion €
14.8 %
Africa
0.53 billion €
1.5 %
Middle and
Central East
0.33 billion €
0.9 %
Asia
4.76 billion €
13.2 %
10/5/2022 Technology Industries
of Finland
11. Turnover of the industry and technology industry
in Finland
11
Source: Macrobond, Statistics Finland
10/5/2022 Technology Industries
of Finland
12. Turnover of the technology industry in Finland
12
Source: Macrobond, Statistics Finland
10/5/2022 Technology Industries
of Finland
13. Value of new orders in the technology industry* in
Finland
13
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
Combined
Export
Domestic
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Change: II/2022 / II,2021 II,2022 / I,2022
Export: +6 % +5 %
Domestic: +35 % +31 %
Combined: +12 % +10 %
Milion euros, at current prices
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation April-June 2022.
*) Excl. metals
industry, game
industry and data
center companies
Technology Industries
of Finland
10/5/2022
14. Value of order books in the technology industry*
in Finland
14
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
30,000
32,000
34,000
Export
Domestic
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Change: 30.6.2022 / 30.6.2021 30.6.2022 / 31.3.2022
Export: +8 % +1 %
Domestic: +8 % +4 %
Combined: +8 % +2 %
Combined
Million euros, at current prices
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation 30th June 2022.
*) Excl. metals
industry, game
industry and data
center companies
Technology Industries
of Finland
10/5/2022
15. Tender Requests* Received by the Technology
Industry Companies in Finland
15
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, the last questionnaire in
July-August 2022.
-60
-50
-40
-30
-20
-10
0
10
20
30
40
Balance figure
*) ”Have you experienced a notable increase or decrease in the number of requests for tenders in recent weeks in comparison to the situation three
months ago?”. Balance figure = the number of companies receiving more requests - the number of companies receiving less requests.”
Technology Industries
of Finland
10/5/2022
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
16. Value of new orders in the electronics and
electrotechnical industry in Finland
16
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
Combined
Export
Domestic
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Change: II,2022 / II,2021 II,2022 / I,2022
Export: +27 % +27 %
Domestic: -9 % +2 %
Combined: +20 % +23 %
Million euros, at current prices
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation April-June 2022.
Technology Industries
of Finland
10/5/2022
17. Value of order books in the electronics and
electrotechnical industry in Finland
17
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
Export
Domestic
Change: 30.6.2022 / 30.6.2021 30.6.2022 / 31.3.2022
Export: +20 % +19 %
Domestic: +8 % +2 %
Combined: +18 % +15 %
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Million euros, at current prices Combined
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation 30th June 2022.
Technology Industries
of Finland
10/5/2022
18. Value of new orders in the mechanical engineering
in Finland
18
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
Combined
Export
Domestic
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Change: II,2022 / II,2021 II,2022 / I,2022
Export: -11 % -12 %
Domestic: +85 % +75 %
Combined: +5 % +3 %
Million euros, at current prices
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation April-June 2022.
Technology Industries
of Finland
10/5/2022
19. Value of order books in the mechanical
engineering in Finland
19
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
Export
Domestic
Change: 30.6.2022 / 30.6.2021 30.6.2022 / 31.3.2022
Export: +4 % -4 %
Domestic: +2 % +10 %
Combined: +4 % -2 %
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Million euros, at current prices Combined
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation 30th June 2022.
Technology Industries
of Finland
10/5/2022
20. Value of new orders in the consulting engineering
in Finland
20
0
20
40
60
80
100
120
140
160
180
200
220
240
260
280
300
320
340
Combined
Export
Domestic
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Change: II,2022 / II,2021 II,2022 / I,2022
Export: -22 % -50 %
Domestic: +18 % -9 %
Combined: +15 % -13 %
Million euros, at current prices
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation April-June 2022.
Technology Industries
of Finland
10/5/2022
21. Value of order books in the consulting engineering
in Finland
21
0
100
200
300
400
500
600
700
800
900
Export
Domestic
Change: 30.6.2022 / 30.6.2021 30.6.2022 / 31.3.2022
Export: +16 % -2 %
Domestic: +16 % +1 %
Combined: +16 % +1 %
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Million euros, at current prices Combined
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation 30th June 2022.
Technology Industries
of Finland
10/5/2022
22. Value of new orders in the information
technology* in Finland
22
0
100
200
300
400
500
600
700
800
900
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Change: II,2022 / II,2021 II,2022 / I,2022
Combined: +15 % -8 %
Million euros, at current prices
*) Excl. game industry and data center
companies
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation April-June 2022.
Technology Industries
of Finland
10/5/2022
23. Value of order books in the information
technology* in Finland
23
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
Combined
Change: 30.6.2022 / 30.6.2021 30.6.2022 / 31.3.2022
Combined: +21 % -3 %
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Million euros, at current prices
*) Excl. game industry and data center
companies
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation 30th June 2022.
Technology Industries
of Finland
10/5/2022
24. Technology Industry Personnel
24
10/5/2022 Technology Industries of
Finland
Source: Statistics Finland, The Federation of Finnish Technology Industries’ labour force survey, Macrobond
4,700 employees affected by
temporary lay-offs 30th June
2021
30th June
25. Technology industry personnel recruitment in
Finland by quarters
25
-4,000
-2,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Change in the number of personnel compared to the previous quarter Number of people recruited during the quarter
Source: The Federation of Finnish Technology Industries’ labour force survey
Technology Industries
of Finland
10/5/2022
26. Technology Industry Personnel in Finland by
Industry
26
10/5/2022 Technology Industries of
Finland
Source: Statistics Finland, The Federation of Finnish Technology Industries’ labour force survey, Macrobond
30th June
27. Technology industry personnel in subsidiaries
abroad by industry
27
10/5/2022 Technology Industries of
Finland
Source: The Federation of Finnish Technology Industries’ labour force survey, Macrobond
28. Technology Industry Personnel in Subsidiaries
Abroad by Country
28
10/5/2022 Technology Industries of
Finland
Source: The Federation of Finnish Technology Industries’ labour force survey
Information from year 2021
China, 47,703, 16%
India, 31,478, 11%
USA, 24,584, 8%
Poland, 19,426, 6%
Germany, 16,774, 6%
Sweden, 14,901, 5%
Mexico, 13,600, 5%
France, 9,973, 3%
UK, 7,625, 3%
Norway, 7,582, 3%
Russia, 7,330, 2%
Brazil, 6,302, 2%
Italy, 6,045, 2%
Other Countries, 84,632, 28%
Ukraine: 2 815
29. Retirement of technology industry personnel in
Finland
29
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030
Salaried employees
Blue collar employees
Individuals per year
Source: Wage inquiry of the Techonology Industries of Finland, Finnish Centre for Pensions, Statistics Finland
Technology Industries
of Finland
10/5/2022
30. Retirement of technology industry blue collar
employees in Finland
30
0
500
1000
1500
2000
2500
3000
3500
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030
Mechanical engineering Metals industry Electronics and electrotechnical industry
Individuals per year
Source: Wage inquiry of the Techonology Industries of Finland, Finnish Centre for Pensions, Statistics Finland
Technology Industries
of Finland
10/5/2022
Number of individuals retiring
(estimation)
Number of individuals retired
31. Overview of the situation in the technology
industry and outlook for the rest of year 2022
31
- Turnover in Finland totalled some EUR 91 billion in 2021. Growth from the previous year was
11 percent for the full year. In January-June 2022 turnover was 17 percent higher than at the
same time in 2021.
- The monetary value of new orders reported between April-June 2022 was 10% higher than
in the preceding quarter, and 12% higher than in the corresponding period in 2021.
- At the end of June, the value of order books was 2% higher than at the end of March, and
8% higher than in June 2021.
- The turnover of the technology industry in Finland is estimated to be higher in the rest of the
year 2022 than at the same time last year.
- The number of employees in Finland at the end of June 2022 was over four percent higher
than an average in 2021. The number of employees was some 336,000, which is almost
14,000 more than an average in 2021.
- Recruitment of new staff was on the strong rise in January-June. There were a total of
30,000 recruitments, compared to 46,500 in the whole year 2021.
10/5/2022 Technology Industries of Finland
32. World economic outlook
- Finland as a part of global
economy
32
10/5/2022 Technology Industries of Finland
33. GDP in Euro Area and Finland by quarter
33
Lähde: Macrobond
Technology Industries
of Finland
10/5/2022
34. Export of goods and services from Finland and
Euro Area by quarter
34
Source: Macrobond, Eurostat
10/5/2022 Technology Industries
of Finland
35. GDP by demand sector in Finland by quarter
35
Source: Macrobond, Statistics Finland
Technology Industries
of Finland
10/5/2022
36. GDP in some western countries
36
Souce: Macrobond
Technology Industries
of Finland
10/5/2022
37. 37
Source: Macrobond
GDP in large developing countries
China, India, Brazil and Russia account for 31% of the world economy, adjusted for purchasing power
10/5/2022 Technology Industries
of Finland
38. Purchasing Manager Indices for the entire
business sector in Finland’s most important export
countries
38
Source: Macrobond. Markit
10/5/2022 Technology Industries
of Finland
39. Industrial production in some developed countries
39
10/5/2022 Source: Macrobond
Technology Industries
of Finland
40. Industrial production in some European countries
40
10/5/2022 Source: Macrobond
Technology Industries
of Finland
42. Purchasing Manager indices for the manufacturing
industries
42
Source: Macrobond, Markit
10/5/2022 Technology Industries
of Finland
43. Purchasing Manager indices for the manufacturing
industries in major developing countries
43
Source: Macrobond, Markit
10/5/2022 Technology Industries
of Finland
44. Exchange rates (when the curve rises, the value of the
Euro strengthens against the other currency)
44
Source: Macrobond
10/5/2022 Technology Industries
of Finland
45. 45
Source: Macrobond, The CPB Netherlands Bureau for Economic Policy Analysis
Goods export volume
Technology Industries
of Finland
10/5/2022
52. Industrial tangible and intangible investment* in
Finland
52
*) Including software investments.
Source: Statistics Finland (National Accounts), Confederation of Finnish Industries’ Investment Survey June 2022
0
1
2
3
4
5
6
7
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22e
Tangible investment
Intangible investment
Intangible investment (excl.
electronics industry)
Billion euros, at fixed 2015 prices
10/5/2022 Technology Industries
of Finland
53. Industrial investment and consumption of fixed
capital in Finland
53
*) Including software investments.
Source: Statistics Finland (National Accounts), Confederation of Finnish Industries’ Investment Survey June 2022
0
1
2
3
4
5
6
7
8
9
10
11
12
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22e
Tangible and intangible
investment*
Consumption of Fixed
Capital
Billion euros, at fixed 2015 prices
10/5/2022 Technology Industries
of Finland
54. Industrial production capital loss in Finland
54
Source: Statistics Finland (National Accounts)
0
5
10
15
20
25
30
35
40
45
50
55
60
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21
Cumulative consumption
of tangible capital
Cumulative tangible
investment
Billion euros, at fixed 2015 prices
10/5/2022 Technology Industries
of Finland
=6,2 bill. €
55. Industrial tangible investment
55
Source: Eurostat (National Accounts), Confederation of Finnish Industries’ investment survey, June 2022
60
70
80
90
100
110
120
130
140
150
160
170
180
190
200
210
220
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22e
Hungary
Poland
Netherlands
Austria
Germany
Chech
Republic
Sweden
Belgium
Finland
Billion euros, at fixed 2015 prices, index 2005=100
10/5/2022 Technology Industries
of Finland
56. Investment rate in industrial tangible investments
56
Source: Eurostat (National Accounts)
6
8
10
12
14
16
18
20
22
24
26
28
30
32
34
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20
Hungary
Poland
Netherlands
Austria
Germany
Czech
Republic
Sweden
Belgium
Finland
Tangible investments / value added, %
10/5/2022 Technology Industries
of Finland
57. Industrial intangible investments
57
*) Intangible investments include research and development and software investments etc.
Source: Eurostat (National Accounts), Confederation of Finnish Industries’ investment survey, June 2021
40
60
80
100
120
140
160
180
200
220
240
260
280
300
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22e
Hungary
Poland
Netherlands
Austria
Germany
Czech Republic
Sweden
Belgium
Finland, excl.
electronics industry
Finland
Billion euros, at fixed 2015 prices,
index 2005=100
10/5/2022 Technology Industries
of Finland
58. Investment rate of industrial intangible
investments*
58
*) Intangible investments include research and development and software investments.
Source: Eurostat (National Accounts)
0
2
4
6
8
10
12
14
16
18
20
22
24
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20
Hungary
Poland
Netherlands
Austria
Germany
Czech Republic
Sweden
Belgium
Finlans, excl.
electronics industry
Finland
Intangible investments / value added, %
10/5/2022 Technology Industries
of Finland
59. Productivity* development in Finland
59
10/5/2022 Technology Industries of
Finland
*) Productivity is measured as real value added per hours worked. When productivity grows
(the curve rises) value added grows more than hours worked.
Source: Statistics Finland
60. 60
Latest information April-June 2022.
Source: Eurostat: Quarterly National Accounts
GDP productivity development
GDP at fixed prices / hours worked
82
84
86
88
90
92
94
96
98
100
102
104
106
108
110
112
114
116
118
Euro countries
Sweden
Finland
Germany
Index 2008=100 (the year before the collapse of Finnish industrial production capacity)
10/5/2022 Technology Industries of
Finland
61. 61
Latest information April-June 2022.
Source: Eurostat: Quarterly National Accounts
Industrial productivity development
Industrial value added at fixed prices / hours worked
60
65
70
75
80
85
90
95
100
105
110
115
120
125
130
135
Euro countries
Sweden
Finland
Germany
2008=100 (the year before the collapse of Finnish industrial production capacity)
10/5/2022 Technology Industries of
Finland
63. 63
Finland’s cost competitiveness compared to the
average of Euro countries
Unit labour costs in the whole economy = labour costs / productivity, including the influence of effective
exchange rates
94
96
98
100
102
104
106
108
110
112
2000=100
2005=100
2008=100
Finland’s price
and cost
competitiveness
declines
Finland’s price
and cost
competitiveness
improves
10/5/2022 Technology Industries
of Finland
*) In the ECB Harmonised Competitiveness Index, the average effective exchange rate of each country is calculated vis-Ă -vis 38
main trade partners, as well as the development of unit labour costs for the total economy.
Latest information January-March 2022. Source: European Central Bank
00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
64. Member Companies of the
Federation of Finnish
Technology Industries
64
10/5/2022 Technology Industries
of Finland
65. The Federation’s Member Companies 2021
65
250–499 employees
80,482
40%
31,515
16%
31,236
16%
55,658
28%
1 620
91%
90
5%
46
3%
24
1%
Number of enterprices / 1 780 Number of personnel / 198 891
1–249 employees 500–999 employees
1000– employees
10/5/2022 Technology Industries
of Finland
66. The Federation’s SME Member Companies 2021
66
512
32%
562
35%
316
20%
230
14%
Number of enterprices / 1 620 Number of personnel / 80 482
5 300
7%
18 188
23%
22,109
27%
34,885
43%
1–19 employees
20–49 employees
50–99 employees
100–249 employees
10/5/2022 Technology Industries
of Finland
67. Operating Profit in the Member Companies of
Technology Industries of Finland in 2020
Operating profit-% = operating result / turnover * 100 (before taxes and financial income
and expenses)
67
Source: Statistics Finland
-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
30
(Median: 5,2 %)
Good (30 %)
Satisfactory (22 %)
Weak (26 %)
Unprofitable (22 %)
Companies in random order
10/5/2022 Technology Industries
of Finland
68. Net Profit in the Member Companies of Technology
Industries of Finland in 2020
Return on assets -% = (net income + financial expenses + taxes) / (capital invested in the financial
year) * 100
68
Source: Statistics Finland
-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
30
(Median: 4,2 %)
Unprofitable (24 %)
Good (25 %)
Satisfactory (21 %)
Weak (30 %)
Companies in random order
10/5/2022 Technology Industries
of Finland
69. Return on Assets in the Member Companies of
Technology Industries of Finland in 2020
Equity ratio -% = (total equity + total appropriations accrued) / adjusted balance sheet *
100
69
Source: Statistics Finland
-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
30
(Median: 11,9 %)
Good (43 %)
Unsatisfactory (11 %)
Mediocre (26 %)
Weak (20 %)
Companies in random order
10/5/2022 Technology Industries
of Finland
70. Equity Ratio in the Member Companies of
Technology Industries of Finland in 2020
Equity ratio -% = (total equity + total appropriations accrued) / adjusted balance sheet *
100
70
Source: Statistics Finland
0
5
10
15
20
25
30
35
40
45
50
55
60
65
70
75
80
85
90
95
100
(Median: 44,9 %)
Good (56 %)
Satisfactory (23 %)
Weak (21 %)
Companies in random order
10/5/2022 Technology Industries
of Finland