Result and key figures

Mehiläinen’s revenue continued to grow in all its business areas in Finland, Estonia, Sweden and Germany, and profitability improved from the previous year.

Mehiläinen’s revenue for 2023 increased by 13.3% from the previous year to EUR 1,850.2 (1,632.8) million. All business areas grew in Finland and internationally. The revenue of private healthcare services increased in all customer segments, mainly organically. In addition, the revenue of social care services and public healthcare services increased partly as a result of organic growth and partly through business acquisitions.

- In many ways, 2023 marked a return to normal in Mehiläinen’s business activities with the end of the pandemic, even though the new wellbeing services counties started as providers of public healthcare and social welfare services, and cost inflation, which increased unexpectedly in 2022, remained high throughout the year, says Janne-Olli Järvenpää, CEO of Mehiläinen Group.

Mehiläinen Group’s underlying operating profit before the depreciation of intangible assets generated by business acquisitions, impairment and items affecting comparability (underlying EBITA) was EUR 215.7 (137.6) million. The result for the financial period was slightly positive at EUR 40.1 (-9.4) million or about 2.2% of revenue.

We were able to partly compensate for the cost increases resulting from high inflation and legal amendments through the pricing of services. Profitability also developed positively through high demand, successful increase of supply and thereby better cost-effectiveness enabled by economies of scale. However, there is still a lot to do in terms of performance. In addition, the rapidly rising wages and other costs are causing additional pressure in the industry, Järvenpää says.

The Net Promoter Score (NPS), which measures customer satisfaction at Mehiläinen’s medical clinics, was higher than ever at 90.

Round key figures from 2023