After a long period of loss, Mint of Finland Group made a profitable result. Improved profitability was attributable to more profitable customer projects compared to the previous year, greater production efficiency and completion of the fixed cost adjustment programme. Consolidated revenue was down year on year and amounted to €71.5m (2017: €85.0m). The Group’s result for the accounting period was +€1.2m.
The market and business outlook in 2019 will continue to be challenging. Competition in the industry is tough and margins are very low. As demand fluctuates strongly, Mint of Finland is seeking ways to develop its service business, new business models and to further improve its organisation to enable profitable operations looking ahead. In order to improve its operating result, Mint of Finland will continue to implement its reform program. Activities are focused on strategic focus areas, utilizing the company’s values and strengths and improving the company’s future competitiveness.
Mint of Finland designs, markets and manufactures coins, blanks, collector and commemorative coins and coin sets. Mint of Finland is one of the leading coin exporters in the world with target markets in Europe, Asia, Africa and Latin America. The company’s customers include central banks, finance ministries and mints of different countries. For commemorative coins, the company serves both consumer and retail customers. The company is owned by the Finnish state.
Please read more from our Corporate Responsibility pages.
For more information:
Henna Karjalainen
Vice President, Communications
henna.karjalainen@mint.fi