Textile service company Lindström is growing strongly. In 2016, it invested a record sum in the expansion of its business. Lindström made investments in both Europe and Asia.
In 2016, Lindström’s turnover grew by seven percent from the previous year to EUR 323.2 million (EUR 302 million in 2015). Lindström invested EUR 34 million in growth (EUR 22.1 million in 2015). The largest investments were made in its operations in Finland, Sweden, Turkey, England, Latvia, Bulgaria, India and Russia.
“For us, 2016 was a year of excellent growth. We grew both organically and through acquisitions. In addition, our customer base grew amazingly throughout the Group. To accelerate our growth, we made record investments in 2016 – EUR 12 million more than in 2015 and double the investments we made in 2014. This included the opening of new service centres in Finland, Sweden, Turkey and England,” says Juha Laurio, President & CEO of Lindström Group.
Around 40 percent of Lindström’s turnover is currently based on its international operations, and this percentage is growing steadily. Lindström operates in 24 countries in Europe and Asia. The Group’s net profit came to EUR 14.8 million (EUR 19.1 million in 2015). Growing customer numbers necessitated larger textile purchases, which affected the profit for 2016.
Vision of half a billion in turnover
“Our vision is to achieve half a billion euros in turnover by 2020. We are therefore seeking strong international growth in the coming years as well. We expect to grow particularly rapidly in our countries of operation in Asia and Russia. We have a strong basis for achieving this in our expert staff and determination to develop our business and innovate together with our customers,” says Laurio.
Lindström provides textile services for businesses. The company clothes over a million people across the world each day.
For more information:
Juha Laurio, President & CEO, Lindström Group, tel. +358 40 501 6299, juha.laurio@lindstromgroup.com
Lindström Group
We at Lindström take care of people at their work. Our easy and smoothly adaptable textile rental services enhance safety, hygiene and customer experience. We are a responsible corporate citizen and an engaging employer of over 3500 people in Europe and Asia. Our Group turnover in 2016 was 323 million euros. Our vision is to be a solid, half a billion euro company achieving excellent customer experiences with engaged employees.