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Published: 18 December 2014

Profits in industry plummeted in 2013

The turnover of industry (branches B and C) was EUR 136.8 billion in 2013. One year previously, turnover amounted to EUR 139.0 billion so the drop was 1.6 per cent. These data derive from Statistics Finland's structural business and financial statement statistics for 2013. According to the industrial output 2013 publication that describes the same period, the value of the sold output was EUR 82.2 billion, which decreased by 6.7 per cent from the year before.

The difficulties in manufacturing are clearly visible in the bottom lines of financial statements. The combined result for the financial period of manufacturing enterprises was EUR 482 million in 2013. In 2012, the result was EUR 3.1 billion, so the drop of EUR 2.7 billion can be seen and felt in the figures. The weak result development was affected by losses in mining and quarrying, and lower financial income in manufacturing.

Profitability of mining and quarrying and manufacturing 2012–2013

	B MINING AND QUARRYING	B MINING AND QUARRYING	C MANUFACTURING	C MANUFACTURING
	2012	2013	2012	2013
	million EUR	million EUR	million EUR	million EUR
Turnover	1 805	1 730	137 251	135 093
Operating margin	303	171	5 997	7 264
Net resultat	-16	-842	1 636	999
Result for the financial period	-57	-1 482	3 204	1 964

The drop in the result for the financial period is especially visible in industry B, mining and quarrying. Mining and quarrying accumulated EUR 1.7 billion in turnover, which was close on EUR 100 million less than one year earlier. Turnover decreased by 4.1 per cent. The combined result for the financial period in mining and quarrying was EUR 1.5 billion negative, so the loss was nearly as large as the turnover.

One should consider the effects of company structures in statistical figures and their interpretation. Financial statement statistics are compiled so that the financial statement figures of legal units are added together as such. This means that the figures may include repetition due to the group structure of business activities. For example, in mining and quarrying, big losses of an affiliate involved in actual operations may be reflected as write-offs from affiliate holdings in the parent company's financial statements causing repetition in the combined figures for the industry.

The data are based on the Tax Administration's business taxation data. The data have been supplemented with Statistics Finland's own inquiry.

Enterprises in Finland in 2013

In 2013, there were 354,081 enterprises operating in Finland whose combined number of personnel was just over 1.47 million. Most enterprises operated in construction (branch F) and in trade (branch G). Most labour force worked in manufacturing (branch C) and in trade. The combined turnover of enterprises was EUR 394.2 billion. The personnel and number data concerning enterprises are not comparable with the previous publications of the statistics on Finnish enterprises, because the definition of the enterprises included in the statistics has been changed.

A majority of enterprises were of the form limited company or natural persons, i.e. own-account workers or self-employed persons. The combined share of these legal forms of all enterprises was around 85 per cent. There were 165,078 self-employed persons and 136,735 limited companies. There were 18,575 limited partnerships and 6,459 partnerships.

Measured by personnel, the largest and smallest enterprises employed most people in 2013. Altogether, 281,620 persons worked in enterprises with fewer than five employees. Correspondingly, 279,930 persons worked in enterprises with over 1,000 employees. There were 314,975 enterprises with fewer than five employees, and 112 enterprises with over 1,000 employees.

In 2013, there were 230 enterprises with a high turnover of over EUR 200 million. The number of enterprises with the smallest turnover, under EUR 40,000, was 166,405 and they employed a total of 135,500 persons. The biggest enterprises measured by turnover operate in manufacturing and trade.

There were 1,853 enterprises owned by municipalities and municipal corporations, and they employed 21,307 persons. The 222 state-owned enterprises employed, in turn, 61,780 persons. Private domestic non-financial corporations employed close on 1.16 million persons. Most state-owned enterprises were found in real estate activities (branch L) and in transport and storage (H). There were a total of 25 state-owned manufacturing enterprises in branches B and C. Enterprises owned by municipalities focus on electricity, gas, steam and air conditioning supply (branch D), real estate activities, and water supply; sewerage, waste management and remediation activities (E).

Business statistics are renewed, breaks in time series

Statistics Finland has renewed its production of business statistics. From the statistical reference year 2013 onwards, financial statement statistics are published as one set of statistics together with the Business Register data. The main changes relate to the Standard Industrial Classification, harmonisation of business data (e.g. turnover and personnel data) and enterprise reorganisations, as well as deduction rules, with which the enterprise of establishment group included in the statistics is formed. The data are not comparable with the previous publications of the statistics on Finnish enterprises, because the definition of the enterprise included in the statistics has been changed. More information about the renewal can be found on the pages Changes in these statistics and Quality description.

Source: Statistics Finland

Inquiries: Pirkko Nurmela 029 551 3519, Jaakko Salmela 029 551 3454, rakenne.tilastot@stat.fi

Director in charge: Hannele Orjala

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Appendix tables

• Appendix table 1. Enterprises turnover by industry in 2012 - 2013 (18.12.2014)

Revisions in these statistics

• Revisions in these statistics (18.12.2014)

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Updated 18.12.2014