Return to Profit on Cards for Finnish Mint

The Mint of Finland, the leading exporter of coins and blanks with 99% of sales coming from overseas customers (up from 93% in 2019), reported near-flat consolidated revenue of €57.2 million in 2020, and an operating loss of €5.1 million (versus €1.4 million the previous year).

However, the Mint says that, because of the good order intake in 2020, the outlook for 2021 is good and earnings are expected to improve and turn positive.

The group comprise the Mint of Finland Ltd (in Finland), Mint of Finland GmbH (the German-based blank producer) and Spanish blank manufacturer Compañia Europea de Cospeles SA (CECO SA), in which it and Fábrica Nacional de Moneda y Timbre-Real Casa de la Moneda (each has a 50% holding). The Mint is owned by the Finnish state.