Skarta has launched new financial targets and strategic main directions – Activities will be expanded towards overall projects in wind power, solar energy, and hydrogen solutions

10.09.21

Skarta Group Plc released a company announcement on 9 September, according to which the Board of Directors of the company has approved medium-term financial targets of the company and main directions of a new strategy for a strategy period 2021-2024.

Skarta pursues strong growth in following years both organically and through corporate acquisitions. The Board of Directors has set a medium-term financial target of at least 300 million euros of annual turnover and 10 percent EBITDA by 2024.

The current business operations of the group are mainly focused on carbon neutral industrial and energy projects as well as projects in specialized construction. In future, Skarta’s strategy is based on the following main directions:

  1. Skarta’s objective is to expand its activities in the value chain of wind power, solar energy and hydrogen solutions towards the development, construction, and ownership of overall projects in clean energy.
  2. Skarta’s growth is based on a strong competence and expertise in specialized construction, and it is supported with corporate arrangements.
  3. Skarta’s activities are based on the consortium of entrepreneurs, which enables quick expanding, good profitability, and strong development of shareholder value.

Skarta has recognized that the demand for renewable energy and storage as well as carbon neutral solutions is growing heavily. The building of wind and solar power is in strong growth. Green hydrogen can be utilized, for example, as an energy solution for traffic, in industrial processes, and in power-to-X solutions. By operating in different stages of the value chain of carbon neutral energy from project development to construction and ownership, Skarta can serve its customers in a more comprehensive way.

“Skarta’s project development has had a positive beginning both in wind and solar power. Overall projects in clean energy include a remarkable growth potential, and we aim at implementing them in future both in Finland and Sweden”, comments Tuomas Hirvonen, the CEO of Skarta Group Plc.

Skarta has decades of experience in demanding construction projects, as well as an established subcontractor and partner network. The expertise of the personnel creates a strong basis for the business of the company. The competence of the personnel is constantly developed so that it can be utilized in more comprehensive projects than before.

Growth in different stages of the value chain requires new competences and resources that can be acquired through corporate arrangements as well. As a listed company, Skarta can make use of diverse financing solutions to develop its business operations and finance its projects. For example, using its own shares as a consideration in corporate acquisitions is possible.

“Skarta’s mission is to build a clean future, which requires transformational power. Entrepreneurs are the real driving forces, and Skarta has a total of hundreds of years of entrepreneurship behind it. The entrepreneurial attitude can be seen not only in ownership, but also in working habits of the whole personnel that can be described with agility, personal responsibility and ability for quick decision making”, says Markku Kankaala, the Chairman of the Board of Skarta Group Plc.

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