Tornator’s Growth in 2024 Was Strong and Diverse
In 2024, Tornator’s core business remained solid, and in a favorable market, revenue reached a record-high of EUR 213 million. Forest acquisitions progressed as planned, and the company surpassed the milestone of 700,000 hectares of forest holdings in Finland. In total, nearly 24,000 hectares of new forest were acquired. The expanded forest estate provides a strong foundation for Tornator to continue supplying the forest industry with sustainably sourced, dual-certified renewable raw materials.
We also advanced our strategy by promoting the biological growth of forests. Growth was accelerated through timely fertilization and forest management operations. In addition, we enabled the production of renewable energy on our lands through numerous wind and solar power agreements.
Our workforce grew as well. As Tornator expanded its operations, we brought in many new professionals. We have become a significant employer in rural areas and are ranked among the 25 largest corporate income tax payers in Finland.
Tornator Timberland Group in 2024
In addition to the Finnish parent company Tornator Oyj, the group includes Tornator Eesti OÜ in Estonia and SC Tornator SRL in Romania.
- Revenue: EUR 213 million
- Operating profit: EUR 154.1 million
- Net profit: EUR 103.2 million
- Balance sheet total: EUR 3.8 billion
- Employees: 188 forestry professionals
- Employment impact: approximately 1,600 person-years
- Tax footprint: EUR 46 million
- Forest holdings in Finland, Estonia, and Romania: approximately 783,000 hectares
Tornator’s Forest Assets in Europe in 2024
At the end of 2024, the Tornator Group owned a total of approximately 783,000 hectares of forest in Finland, Estonia, and Romania (as shown on the map as of December 31, 2024).
Tornator’s forestlands in Europe (December 31, 2024):
Tornator’s Key Financial Figures for 2024
