2024 was a year of strategic transition and financial stabilisation for Spatineo Oy. Despite an 18.16% decrease in revenue, from €1,930,624 in 2023 to €1,580,049 in 2024, the company made significant progress toward long-term financial health. This planned reduction in overall revenue is primarily attributed to a strategic decision to significantly cut back subcontracting sales (-65%), emphasising growth in our own product and service offerings.
The company’s EBIT saw a notable turnaround from a loss of €153,154 in 2023 to a profit of €12,704 in 2024. EBITDA showed even more substantial improvement, moving from a loss of €110,552 in 2023 to a positive €84,501 in 2024. These improvements reflect successful internal efficiency initiatives and an increased focus on higher-margin products and services.
Spatineo’s strategic focus was evident in product sales, which increased by 5.28% from €205,022 to €215,852. Service sales grew by 4.35%, indicating strong market acceptance of the company’s proprietary offerings.
In 2024, Spatineo Inc. experienced a significant shift in its sales distribution, reflecting the company’s increased internationalisation efforts. International sales developed impressively by 137.20%, growing from €72,128 in 2023 to €171,085 in 2024. This notable rise in international sales indicates successful market penetration and presents opportunities for continued international expansion. Canada, Germany, the Netherlands, and Belgium were the top international markets.
Average staff numbers remained stable, with the period-end figure rising slightly from 15 to 16, ensuring consistency and reliability in service delivery and product innovation.
Looking ahead, the strategic decisions and financial management made in 2024 have firmly positioned Spatineo Inc. for sustained growth, innovation, and profitability in the years to come.
For 2025, Spatineo will strategically focus on growth while maintaining sustainable profitability. We will significantly invest in product development, aiming for substantial growth in our product sales. Our efforts will remain aligned with our core strategy, emphasising expansion into sectors critical for the clean energy transition, climate solutions, and public safety—including defence and intelligence.
A key priority for 2025 will be the acceleration of international sales, which offer notably higher margins than the domestic market and are supported by enhanced available equity. The Finnish domestic services market is experiencing downward pressure on prices alongside rising operational costs, making international expansion increasingly attractive.
Moreover, the rapidly growing defence market, driven by heightened demand for security and intelligence solutions, presents promising opportunities for Spatineo.
Our financial targets for 2025 include reaching a revenue milestone of €2.0 million with a projected profit of €85,000, positioning Spatineo for sustainable growth and continued market success.
Spatineo CEO Oskari Häkkinen
+358 45 127 1861
oskari.hakkinen@spatineo.com