Annual Report
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“We have reached an important turning point where the strong foundation built in recent years now enables us to take even more ambitious steps forward.”
Timo Ala-Heikkilä
CEO
VEO'S KEY NUMBERS
eNPS Score
29
Orders
142.8 M€
Turnover
140.9 M€
Operating Profit (EBIT)
8.6 M€
Net Profit
6.6 M€
”With a solid financial foundation and strong cash reserves, we can focus on identifying investments that help us accelerate our growth.”
Outi Mäntylä
CFO
Highlights of 2025
VEO Sweden – A key growth driver
VEO AB had an exceptionally strong year in 2025. The company achieved its highest turnover to date and secured the largest contract in VEO Group’s history with one of the country’s major grid operators.
The company continued to strenghten its organisation to meet the growing demand for electrification projects, although competition for skilled professionals remains intense.
Highlights of 2025
Lifecycle support gaining momentum
In 2025, VEO further strengthened its lifecycle function. Previously managed within project teams, lifecycle support is now centralised under a dedicated organisation. A well-defined service offering and a digital customer portal provide customers with greater clarity and improved access to support. This strengthens VEO’s ability to meet growing demand for long-term support and underlines its role as a trusted partner beyond project delivery.
Highlights of 2025
Entering a new voltage segment
With the launch of VECTOR 36 kV, VEO expands its SF₆-free medium-voltage switchgear technology to meet the increasing demands of energy transition projects. The new switchgear combines proven VECTOR quality with enhanced capacity, reliability and installation efficiency.
Developed and manufactured in Vaasa, Finland, the solution reinforces VEO’s position as a Nordic provider of modern energy infrastructure technologies.
Highlights of 2025
eNPS doubled
Despite high project pressure and continuous problem-solving, employee satisfaction at VEO improved significantly, and eNPS doubled during the year.
This result reflects VEO’s investments in leadership, internal communication, active listening and celebrating shared successes. VEO’s growth has been built through strong collaboration and a conscious effort to strengthen positive engagement — not at the expense of the people.
“Sustainability for us is about responsibility in action – reducing our footprint, supporting the energy transition and caring for our people. We continue to make steady progress across all areas.”
Kim Råholm
Development and HSEQ Director
“As the Nordic energy transition accelerates, customers need partners who can manage complexity and reduce interface risks. That is precisely where we add the most value.”
Jakob Lövdahl
Vice President, Sales and Marketing
“I would like to sincerely thank our people for their commitment, professionalism and entrepreneurial mindset. A strong sense of ownership was visible at every level of the organisation throughout the year.”
Timo Ala-Heikkilä
CEO
