After the 2020 Covid pandemic, CADMATIC achieved significant growth in 2021. Revenue increased by 10%, boosting turnover to a new record level of M€ 28.3. The outlook remains positive and aggressive growth strategies see the company increasing its staff compliment by 100 by the end of 2022.
Particularly strong growth was achieved in CADMATIC’s Process and Industry (P&I) segment, where revenue increased by over 30%. The Construction and Marine businesses grew by 11% and 4% respectively.
At the end of the financial year, CADMATIC Group had 248 employees. The target is to grow the number of employees by 40%, reaching a staff compliment of 350 by the end of 2022.
“We have set ourselves aggressive growth targets and to achieve this we need to recruit heavily in Finland and our other locations around the world. Highly skilled employees remain the driving force behind our success,” says CADMATIC CEO Jukka Rantala.
Key achievements in Process & Industry, Marine, and Construction segments
A notable achievement in the Process & Industry segment during the fiscal period was, among others, acquiring Sumitomo SHI FW as a customer. The global provider of power, energy storage and environmental technologies and services implemented CADMATIC 3D plant design and information management solutions in their engineering projects in Finland, Poland, India, and China.
In the Marine segment, a key highlight in 2021 was Seaspan Shipyards’ implementation of all CADMATIC’s ship design and information management software. The Canadian shipyard is a strategic shipbuilding partner for large non-combat vessels for the Canadian Coast Guard and Royal Canadian Navy.
The Construction segment’s 11% growth was driven, among others, by the acquisition of a record 185 new customers.
New offices in Canada and Hungary
During the fiscal year, CADMATIC established a subsidiary in Vancouver Canada to support Seaspan Shipyards and to drive business development in the North American region. At the beginning of the current financial period a subsidiary was also established in Budapest, Hungary to support the growing customer base in Eastern Europe.
Focus on R&D investments and social responsibility
Almost 23% of CADMATIC’s turnover was invested in software development in 2021. In September 2021, CADMATIC was ranked as the 7th highest investor in R&D in Finland as a percentage of turnover by Tekniikka & Talous magazine.
A major focus of CADMATIC’s social responsibility lies in the development of educational opportunities. In 2021, CADMATIC continued offering students the possibility to participate in free online training and cooperated with educational institutions and customers to boost the design and project skills of students. A mechanical engineering professorship donated earlier by CADMATIC to the University of Turku was filled early this year.
