Imatra's consolidated profit is 4,7 million euros in surplus

The consolidated profit of the city of Imatra in 2023 was 4,7 million surplus. The result is an improvement compared to 2022. At that time, the result was two million euros in the red.

—The group made a strong result. This was influenced, among other things, by the fact that the city's tax revenues and state contributions were stronger than budgeted, Group Finance Manager Marko Pollari says.

The annual profit last year was 28,0 million euros, which is 6,5 million euros better than the previous year.

Although the financial year that ended looks positive, the current year changes direction.

—According to a recent forecast, the accumulation of tax revenue is 700 euros short of the accumulation presented in the budget. The government's contributions will also drop for the current year by around six million euros from the previous year's level, Pollari states.

Generous investments were financed with income streams

The city group will invest heavily in 2023. Net investments were 25,9 million euros. The most significant investments were the Imatra Lämmö pump plant in the Stora Enso area and the renovation of the Meltola wastewater treatment plant.

The investments were financed with income financing, which is exceptional.

— Operating cash flow was 11 million euros better than the previous year. For the first time in many years, we have been able to finance investments with income streams, which is a great achievement.

At the end of the financial year, the group's loan portfolio was 247,8 million euros. Loans and liabilities per inhabitant were 11 euros. The amount is 318 euros less than the previous year. The change is partly explained by the establishment of the welfare area.

Three companies to a positive result

Among the group companies, Imatran Lämpö Oy, Mitra Management Oy and Imatran Toimitilat Oy made a profitable result.

Imatra Lämmö's profit for the financial year was 780 and Toimitilat's was 000 euros plus.

— Mitra Management's result, on the other hand, was 24 euros. The result dropped from the previous year, mainly due to the sudden increase in interest expenses, but considering the circumstances, the result is good, says Pollari.

The results of Mitra Imatra Rakennuttaja and Imatra Base Camp corresponded to budgeting. Imatran Regional Development Company Kehy made a loss of 134 euros, but the result is mainly explained by the change in the accrual policy of items affecting the result.

Imatra Kiinteistö- ja Aluepalvelu Kipa also made a loss.

— Kipa was in the red by 530 euros. The loss is mainly due to higher-than-average winter maintenance costs and the poor performance of the land construction and real estate services units, says Pollari.

The city government deals with the financial statement on Monday 25.3.

For more information:

Group Finance Manager Marko Pollari, marko. pollariimatra.fi (marko[dot]pollari[at]imatra[dot]fi), tel. 020 617 2268

Mayor Matias Hilden, matias.hildenimatra.fi (matias[dot]hilden[at]imatra[dot]fi), tel. 020 617 2200 (available from Mon 25.3.)

Financial statement 2023