Kinnunen Group Oy is a limited company based in Taivalkoski, registered in 2022. In the financial year ending 31.12.2023, revenue was 342 t€ and operating profit 37 t€; equity ratio 64.9 %.
Revenue 2023342 t€+36 % on the previous year
Operating profit37 t€10,8 % of revenue
Net profit27 t€EBITDA 53 t€
Equity ratio64,9 %quick ratio 2,20
In business4 yrsregistered 9.5.2022
Financials
RevenueOperating profitNet profit
| Key figures | 31.12.2023 | 31.12.2022 |
|---|---|---|
| Revenue | 342 t€ | 251 t€ |
| Revenue change | 36,2 % | – |
| EBITDA | 53 t€ | 75 t€ |
| EBITDA % | 15,5 % | 30,0 % |
| Operating profit | 37 t€ | 60 t€ |
| Operating margin | 10,8 % | 23,8 % |
| Net profit | 27 t€ | 45 t€ |
| Personnel costs | 39 t€ | 39 t€ |
| Equity ratio | 64,9 % | 44,1 % |
| Quick ratio | 2,20 | 1,37 |
| Current ratio | 2,20 | 1,37 |
| Debt to revenue | 11,3 % | 22,6 % |
| Return on equity | 37,7 % | 100,0 % |
| Balance sheet total | 110 t€ | 101 t€ |
| Equity | 72 t€ | 45 t€ |
| Cash and bank | 44 t€ | 33 t€ |
Balance sheet
Balance sheet totalEquityCash
Income statement and balance sheet
Income statement
| 31.12.2023 | 31.12.2022 | |
|---|---|---|
| Turnover | 342 t€ | 251 t€ |
| Raw materials and services | -163 t€ | -93 t€ |
| Personnel expenses | -39 t€ | -39 t€ |
| Depreciations and reductions in value | -16 t€ | -16 t€ |
| Other operating expenses | -86 t€ | -43 t€ |
| Operating profit (loss) | 37 t€ | 60 t€ |
| Financial income and expenses + (-) | -3 182 € | -3 793 € |
| Profit (loss) before appropriations and taxes | 34 t€ | 56 t€ |
| Income taxes | -6 746 € | -11 t€ |
| Profit (loss) for the financial year | 27 t€ | 45 t€ |
Balance sheet
| 31.12.2023 | 31.12.2022 | |
|---|---|---|
| Non-current assets | 48 t€ | 47 t€ |
| Receivables | 18 t€ | 21 t€ |
| Cash in hand and at banks | 44 t€ | 33 t€ |
| Current assets | 62 t€ | 55 t€ |
| Assets | 110 t€ | 101 t€ |
| Capital and reserves | 72 t€ | 45 t€ |
| Long-term liabilities | 11 t€ | 17 t€ |
| Short-term liabilities | 28 t€ | 40 t€ |
| Liabilities | 39 t€ | 57 t€ |
All financial statement items (41)
| 31.12.2023 | 31.12.2022 | |
|---|---|---|
| Turnover | 342 t€ | 251 t€ |
| Raw materials and services | -163 t€ | -93 t€ |
| Personnel expenses | -39 t€ | -39 t€ |
| Depreciations and reductions in value | -16 t€ | -16 t€ |
| Other operating expenses | -86 t€ | -43 t€ |
| Operating profit (loss) | 37 t€ | 60 t€ |
| Financial income and expenses + (-) | -3 182 € | -3 793 € |
| Profit (loss) before appropriations and taxes | 34 t€ | 56 t€ |
| Income taxes | -6 746 € | -11 t€ |
| Profit (loss) for the financial year | 27 t€ | 45 t€ |
| Non-current assets | 48 t€ | 47 t€ |
| Receivables | 18 t€ | 21 t€ |
| Cash in hand and at banks | 44 t€ | 33 t€ |
| Current assets | 62 t€ | 55 t€ |
| Assets | 110 t€ | 101 t€ |
| Capital and reserves | 72 t€ | 45 t€ |
| Long-term liabilities | 11 t€ | 17 t€ |
| Short-term liabilities | 28 t€ | 40 t€ |
| Liabilities | 39 t€ | 57 t€ |
| Short-term accounts payable | 13 t€ | 11 t€ |
| Short-term prepayments and accrued income | 0 € | 265 € |
| Depreciations according to plan | -16 t€ | -16 t€ |
| Short-term liabilities to credit institutions | 2 520 € | 12 t€ |
| Retained earnings | 45 t€ | 0 € |
| Liabilities | 110 t€ | 101 t€ |
| Short-term receivables | 18 t€ | 21 t€ |
| Short-term accrued expenses and deferred income | 8 520 € | 7 394 € |
| Short-term loan receivables | 630 € | 0 € |
| Purchases during the financial year | -162 t€ | -92 t€ |
| Short-term sales receivables | 17 t€ | 20 t€ |
| Pension expenses | -4 086 € | -3 927 € |
| Services purchased | -1 684 € | -915 € |
| Machinery and equipment | 48 t€ | 47 t€ |
| Long-term liabilities to credit institutions | 11 t€ | 17 t€ |
| Other current liabilities | 4 118 € | 9 727 € |
| Tangible assets | 48 t€ | 47 t€ |
| Other social security expenses | -975 € | -1 031 € |
| Wages and salaries | -34 t€ | -34 t€ |
| Other short-term receivables | 190 € | 970 € |
| Profit (loss) for the period, equity | 27 t€ | 45 t€ |
| Interest expenses and other financial expenses for non-Group companies | -3 182 € | -3 793 € |
From financial statements filed digitally (XBRL) with the Finnish Patent and Registration Office; ratios calculated from them. Equity ratio = (equity + accumulated appropriations) / (balance sheet total − advances received).
Taxes
Taxable income is the profit as calculated for taxation, not revenue. Public data from the Finnish Tax Administration; figures for 2025 are published in November 2026.