Mint of Finland Returns to Profit

After several years of losses, the Mint of Finland has reported a significant increase in sales and return to profit for 2021.

Consolidated revenue increased by 45% to €83 million, due largely to a good order backlog at the beginning the year. A loss of €5.14 million in 2020 was converted into an operating profit of €5.7 million.

The last time the group had comparable sales was in 2017 (€85 million), albeit in that year it made a loss of €1.8 million, and has reported losses for each subsequent year bar one.

Better profitability was attributed to the product range, good utilisation rates at both factories in Finland and Germany, and more profitable projects.

The Mint of Finland Group comprises the Mint of Finland in Vantaa, just outside Helsinki and in Germany (where blanks are produced), along with the Spanish blank manufacturer Compañia Europea de Cospeles SA (CECO SA), which is a 50:50 joint venture with FNMT.