For the Iivari Mononen Group, 2023 was a reasonable year despite the challenging circumstances. The company had to operate under strong cost pressure throughout the year due to higher raw materials, logistics costs and energy prices. Despite the challenging circumstances, the Group’s result nevertheless developed positively. Operating profit for the financial year increased from the previous year’s EUR 2.2 million to EUR 4.2 million, although net sales decreased by 1.4% to EUR 82.9 million. The Group employs 187 people in five countries.
- Our pole business grew last year and demand in the main market areas was surprisingly lively, says CEO Ari Mononen.
The company has initiated a four-year investment programme with a total value of EUR 23 million, initially focusing on the Finnish and Norwegian factories. Future investments will enable the modernization of production and the introduction of new impregnating agents at the plants. The use of creosote, traditionally used as an impregnating agent, will end in the European Union region in 2029 and new impregnating agents will replace it.
- We seek organic growth through investments, and our goal is to grow during this decade into a group with a turnover of more than EUR 120 million, which is also the most profitable and responsible company in our industry. It’s important to remember that wood offers undeniable advantages as a material, including sustainability, carbon capture, and meeting consumer expectations, emphasizes Ari Mononen.
The board members continuing their service are Ari Mononen (Chairman), Aino Mononen, Arvi Mononen, Dana Mononen, Ilkka Mononen, Juha Mononen, Lasse Mononen and Tommi Mononen.
The Finnish, family-owned Iivari Mononen Group includes:
– Pole solutions provider Scanpole Oy, which has subsidiaries in Norway, Great Britain, Ireland and Sweden.
– PrimaTimber Oy, which specialises in durable wood products and strength-graded timber.