Year 2011 ended positively for Ensto although uncertain economic situation already predicted the end for growth. However, the cleantech company focusing on sustainable development grew by 17 per cent with a turnover of 252 M € in 2011. The acquisition of Novexia explained the growth to an extent but there was substantial organic growth in several market areas, as well. Operating profit improved slightly to 14.2 M€.
Success in international traditional and Smart Grid businessesThe biggest market areas for Ensto were Finland and other Nordic countries that together accounted for nearly half of the turnover. Other EU countries, especially France, created business worth of 37 per cent of the turnover and Russia and the former CIS countries grew substantially.
The biggest strategic business unit, Ensto Utility Networks, grew extensively. Enstos position in the utility business in France and other French speaking countries was enforced. Other growth areas included Norway, Russia, Poland and Kazakhstan. The success in Russia was partly due to the cooperation agreement between Ensto and IDGC Holding. In the agreement, both parties agreed to develop the Russian distribution grid to be more reliable.
The sales of both building technology and industrial business units remained at the same level as in the previous year. Inside the business units, there were strong growth areas such as heat recovery systems, LED-lighting and heating solutions in Russia. New solutions for electric vehicle charging and ATEX enclosing solutions to hazardous environments were also well-received.