2017 Finnish Gazelles List: The Herd Runs Swiftly

With all the excitement following the 2017 Nordic Business Forum in Helsinki, we thought we’d take a breather and head out with our financial binoculars to do a bit of gazelle spotting.

Gazelles, for those who don’t know, are animals in the antelope family known for their ability to reach and sustain high speeds for relatively long periods of time. A business gazelle is a high-growth company that has doubled its revenues over a four-year period.

Our 2017 Finnish Gazelle List is based on this and some additional criteria, including a positive profit flow in each of the four preceding years (and financial statements to prove it), and a starting revenue of at least €135,000. Additionally, the company’s revenue should have seen 100% growth between 2012 to 2015.

Statistics for the Finnish Gazelles List are provided by Asiakastieto every September, and companies are selected for the Gazelle List based on their accounting cycle. This year, there are over 1,700 companies that make the list, beating last year’s total of over 1,600.

The construction industry dominates the list, but the medical industry is well represented. A particular stand-out was Tampere-based Aksonium Oy, which showed a staggering rise in net profit by 9015% in the €10M – €24.9M revenue category.

Interestingly, there are almost entirely new faces in the top five of each of the seven categories (presented below), with behemoths like Supercell moving just out of the top 5 to number 8. Even in eighth position, Supercell still had a recorded revenue of €2,099,872,556 for 2016.

Topping the €100M+ list is Suomen Laatuasunnot Oy, which recorded a very healthy growth of 1492%. While that is very impressive, with higher turnover in revenue comes difficulties in multiplying. That being said, the total number of €100M+ companies for 2016 is 33 compared to 2015 at 13.

It’s further down the page that we really see who’s running like a gazelle. These companies include the aforementioned Aksonium Oy, as well as NTG Polar Road Oy (6586%), Laatapiste Oy(6434%) and Wärtsilä Projects (5467%).

And finally, even though it didn’t make the €100M+ top five, St1 Nordic Oy cleared the herd in net sales with a whopping €4,390,372,000.

TOP 5 Gazelles €100M+ revenue

Company Revenue 2016 (€) Growth 2013-2016 (%)
Suomen Laatuasunnot Oy 146,922,000 1,492
Minimani Yhtiöt Oy 109,817,615 1,353
Turun Osuuskauppa 562,629,000 920
SL Yhtiöt Oy 143,230,226 836
Vestas Finland Oy 378,137,000 644

 

TOP 5 Gazelles €50M – €99.9M revenue

Company Revenue 2016 (€) Growth 2013-2016 (%)
Wärtsilä Projects Oy 93,863,000 5,467
Kiinteistö Oy M2-Kodit 59,281,000 2,025
Hyvät Lehdet RSM Oy 91,688,000 1,902
UPM-Kymmene Seven Seas Oy 58,248,000 1,182
Finanssi-Kontio Oy 56,955,000 911

 

TOP 5 Gazelles €25M – €49.9M revenue

Company Revenue 2016 (€) Growth 2013-2016 (%)
Laattapiste Oy 31,691,000 6,434
Klinger Finland Oy 35,291,000 2,172
Raahen Rautakauppa Oy 49,685,000 644
Touhula Varhaiskasvatus Oy 43,941,000 506
Tuuliwatti Oy 47,628,000 489

 

TOP 5 Gazelles €10M – €24.9M revenue

Company Revenue 2016 (€) Growth 2013-2016 (%)
Aksonium Oy 17,318,000 9,015
NTG Polar Road Oy 12,235,000 6,586
Adison Oy 14,519,000 3,652
Nocart Oy 12,031,000 3,308
Cemt-Trans Oy 11,344,000 2,874

 

TOP 5 Gazelles €5M – €9.9M revenue

Company Revenue 2016 (€) Growth 2013-2016 (%)
Petrofinn Oy 5,713,000 2,620
Schengen Advisors Oy 9,879,000 1,330
Euro24 Finance Oy 5,824,000 1,254
Navix Marketing Oy 7,770,000 1,225
Mr Max Oy 5,423,000 1,182

 

TOP 5 Gazelles €2.5M – €5.9M revenue

Company Revenue 2016 (€) Growth 2013-2016 (%)
Kiinteistö Oy Alvar Aallon katu 1 4,014,000 2,594
St Capital Oy 3,829,000 1,815
Karjalan Metsätilat Oy 3,918,000 1,603
H & H Talorakennus Oy 3,570,000 1,515
MS-Steel Oy 4,308,000 1,433

 

TOP 5 Gazelles €2.49M revenue

Company Revenue 2016 (€) Growth 2013-2016 (%)
Suomen Maansiirto Oy 2,336,000 1,593
AMETEK Finland Oy 1,623,000 1,051
SARACI Oy 1,922,000 1,017
Vaidia Oy 1,855,000 919
KOVAKO OY – Vahinkosaneeraus 1,681,000 819

See the full 2017 Finnish Gazelles list →

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