1. Technology Industry / Finnish Economic Outlook June 2019
7/3/2019
Technology Industries
of Finland

2. Overcoming the Gap in GDP Will Require 3
Overcoming the Gap in GDP Will Require 3.0% Growth in Finland Annually in
7/3/2019
Technology Industries
of Finland
*) The IMF forecast for the euro area in January 2019: 1.6 in 2019, 1.7 in 2020, 1.5% in 2021, 1.5 % in 2022 and 1.4 % in 2023.
Source: Macrobond, IMF, Federation of Finnish Technology Industry

3. The Finnish Technology Industry Is Comprised of Five Sub-Sectors
ELEKTRONICS AND ELECTROTECHNICAL
INDUSTRY
ABB, Ensto, Microsoft Mobile, Murata Electronics, Nokia, Planmeca, Polar Electro, Suunto, Vacon, Vaisala…
METALS INDUSTRY
Boliden, Componenta, Kuusakoski, Luvata, Outokumpu, Outotec, Ovako, Sacotec, SSAB …
MECHANICAL ENGINEERING
Abloy, Cargotec, Finn-Power, Fiskars, Glaston, Kone, Konecranes, Metso, Meyer Turku, Normet, Oras, Patria, Pemamek, Ponsse, Stala, Valmet, Valtra, Wärtsilä…
INFORMATION TECHNOLOGY
Affecto, Basware, Bilot, CGI, Comptel, Digia, Efecte, Enfo, F-Secure, Fujitsu Finland, IBM, Innofactor, Knowit, Microsoft, Nixu, Tieto…
CONSULTING ENGINEERING
A-Insinöörit, Citec, Elomatic, Etteplan, FCG,
Granlund, Neste Jacobs, Pöyry, Ramboll,
Rejlers, SITO, SWECO, WSP…
7/3/2019
Technology Industries
of Finland

4. The Finnish Technology Industry Is Comprised of Five Sub-Sectors
ELEKTRONICS AND ELECTROTECHNICAL
INDUSTRY
Data communications equipment, electrical machinery, medical technology
Turnover (2018): 15.3 billion euros
Personnel (2018): 38,600
METALS INDUSTRY
Steel products, non-ferrous metals, castings, metallic minerals
Turnover (2018): 10.8 billion euros
Personnel (2018): 16,400
MECHANICAL ENGINEERING
Machinery, metal products, vehicles
Turnover (2018): 31.7 billion euros
Personnel (2018): 133,000
INFORMATION TECHNOLOGY
IT services, applications and programming
Turnover (2018): 13.0 billion euros
Personnel (2018): 68,900
CONSULTING ENGINEERING
Expertise for construction industry and infrastructure
Turnover (2018): 6.3 billion euros
Personnel (2018): 54,300
7/3/2019
Technology Industries
of Finland

5. The Technology Industry – the Largest Export Sector in Finland 2018
Over 50 % of total exports.
320,000 employed directly in the sector, including indirect effects 660,000 people.
Effect on value added totaling € 57 billion, or 28% of GDP value added.
Bring to Finland € 18 billion tax revenue annually.
Investments about EUR 5.0 billion annually in Finland.
70 % of private-sector R&D investment.
7/3/2019
Technology Industries
of Finland

6. Value Added to the Economy Generated by the Technology Industry Is EUR 55 Billion, or over 28% of GDP * (2017)
Teknologiateollisuus
*) GDP value added was EUR billion in 2017.
Source: Economic Impact of the Technology Industry in Finland 11/2018

7. Technology Industry Generates nearly 650,000 Jobs in Finland (over 25% of All Employees) (2017)
10 jobs in the technology industry bring
11 jobs to the rest of the economy
Teknologiateollisuus
Source: Economic Impact of the Technology Industry in Finland 11/2018

8. Every Job in the Technology Industry Generates almost another Job in the Services (2017)
Teknologiateollisuus
*) Excl. the services industries in the technology industry.
Source: Economic Impact of the Technology Industry in Finland 11/2018

9. Technology Industry Generates over 18 Billion Euros in Tax Revenue Annually in Finland (2017)
Teknologiateollisuus
Source: Economic Impact of the Technology Industry in Finland 11/2018

10. Turnover of the Technology Industry in Finland
7/3/2019
Technology Industries
of Finland
Source: Macrobond, Statistics Finland, Technology Industries of Finland

11. Export of Technology Industry Goods from Finland by Area in 2018
Total goods exports 32.5 billion euros*
Central and Eastern Europe
5.06 billion €
15.5 %
Western Europe
17.51 billion €
53.9 %
North America
3.04 billion €
9.4 %
Asia
5.04 billion €
15.5 %
Middle and Central East
0.48 billion €
1.5 %
South and Middle America
0.89 billion €
2.7 %
Africa
0.48 billion €
1.5 %
7/3/2019
Technology Industries
of Finland
*) In addition to goods exports the sector exported services worth some 13 billion euros.
Source: National Board of Customs, Statistics Finland

12. Technology, Forest and Chemical Industries Provide 81 % of Finland's Goods and Services Exports Revenue
Goods and service exports: billion euros and the share of Finnish exports in 2017
7/3/2019
Technology Industries
of Finland
*) Service exports industry-specific data for the year 2017 are preliminary information.
Source: Board of Customs, Statistics Finland (National Accounts, Foreign trade in services), Federation of Finnish Technology Industries

13. Turnover of the Industry and Technology Industry in Finland
7/3/2019
Technology Industries
of Finland
Source: Macrobond, Statistics Finland

14. Turnover of the Technology Industry in Finland
7/3/2019
Technology Industries
of Finland
Source: Macrobond, Statistics Finland

15. Value of New Orders in the Technology Industry* in Finland
Million euros, at current prices
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Change:
I,2019 / I,2018
I,2019 / IV,2018
Export:
+20 %
-1 %
Domestic:
-2 %
+3 %
Combined:
+14 %
0 %
*) Excl. metals industry, game industry and data center companies
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, latest observation January-March 2019

16. Value of Order Books in the Technology Industry* in Finland
Million euros, at current prices
Combined
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Change: / /
Export:
+17 %
+7 %
Domestic:
+3 %
+5 %
Combined:
+14 %
+6 %
*) Excl. metals industry, game industry and data center companies
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, latest observation 31th March 2019.

17. Tender Requests* Received by the Technology Industry Companies in Finland
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
*) ”Have you experienced a notable increase or decrease in the number of requests for tenders in recent weeks in comparison to the situation three months ago?”. Balance figure = the number of companies receiving more requests - the number of companies receiving less requests.”
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, the last questionnaire in April 2019.

18. Value of New Orders in the Electronics and Electrotechnical Industry in Finland
Million euros, at current prices
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Change:
IV,2018 / IV,2017
IV,2018 / III,2018
Export:
+16 %
+12 %
Domestic:
-13 %
0 %
Combined:
+9 %
+10 %
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, latest observation October-December 2018

19. Value of New Orders in the Electronics and Electrotechnical Industry in Finland
Million euros, at current prices
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Change:
I,2019 / I,2018
I,2019 / IV,2018
Export:
+18 %
+4 %
Domestic:
+3 %
-8 %
Combined:
+15 %
+1 %
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, latest observation January-March 2019

20. Value of Order Books in the Electronics and Electrotechnical Industry in Finland
Million euros, at current prices
Combined
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Change: / /
Export:
+12 %
+3 %
Domestic:
+8 %
-4 %
Combined:
+2 %
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, latest observation 31th March 2019.

21. Value of New Orders in the Mechanical Engineering in Finland
Million euros, at current prices
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Change:
I,2019 / I,2018
I,2019 / IV,2018
Export:
+23 %
-4 %
Domestic:
+1 %
+6 %
Combined:
+18 %
-3 %
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, latest observation January-March 2019

22. Value of Order Books in the Mechanical Engineering in Finland
Million euros, at current prices
Combined
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Change: / /
Export:
+18 %
+8 %
Domestic:
+3 %
+9 %
Combined:
+16 %
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, latest observation 31th March 2019.

23. Value of New Orders in the Consulting Engineering in Finland
Million euros, at current prices
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Change:
I,2019 / I,2018
I,2019 / IV,2018
Export:
-1 %
-4 %
Domestic:
+4 %
+7 %
Combined:
+3 %
+6 %
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, latest observation 31th March 2019.

24. Value of Order Books in the Consulting Engineering in Finland
Million euros, at current prices
Combined
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Change: / /
Export:
-17 %
-4 %
Domestic:
+14 %
+6 %
Combined:
+9 %
+5 %
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, latest observation 31th March 2019.

25. Value of New Orders in the Information Technology* in Finland
Million euros, at current prices
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Change:
I,2019 / I,2018
I,2019 / IV,2018
Combined:
-11 %
+15 %
*) Excl. game industry and data center companies
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, latest observation 31th March 2019.

26. Value of Order Books in the Information Technology* in Finland
Million euros, at current prices
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Change: / /
Combined:
-1 %
+6 %
*) Excl. game industry and data center companies
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, latest observation 31th March 2019.
Teknologiateollisuus

27. Technology Industry Personnel in Finland and Abroad
March 31
7/3/2019
Technology Industries of Finland
Source: Statistics Finland, The Federation of Finnish Technology Industries’ labour force survey, Macrobond

28. Technology Industry Personnel Recruitment in Finland by Quarters
7/3/2019
Technology Industries
of Finland
Source: The Federation of Finnish Technology Industries’ labour force survey

29. Technology Industry Personnel in Finland by Branch
March 31
7/3/2019
Technology Industries of Finland
Source: Statistics Finland, The Federation of Finnish Technology Industries’ labour force survey, Macrobond

30. Technology Industry Personnel in Subsidiaries Abroad by Branch
7/3/2019
Technology Industries of Finland
Source: The Federation of Finnish Technology Industries’ labour force survey, Macrobond

31. Technology Industry Personnel in Subsidiaries Abroad by Country
Information from year 2018
7/3/2019
Technology Industries of Finland
Source: The Federation of Finnish Technology Industries’ labour force survey

32. Retirement of Technology Industry Personnel in Finland
Individuals per year
Salaried employees
Blue collar employees
7/3/2019
Technology Industries
of Finland
Source: Wage inquiry of the Techonology Industries of Finland, Finnish Centre for Pensions, Statistics Finland

33. Retirement of Technology Industry Blue Collar Employees in Finland
Individuals per year
7/3/2019
Technology Industries
of Finland
Source: Wage inquiry of the Techonology Industries of Finland, Finnish Centre for Pensions, Statistics Finland

34. Overview of the Situation in the Technology Industry and Outlook for the Spring 2019
- Turnover in Finland totalled some EUR 77 billion in The turnover was up 6 % year-on-year. In , prior to the financial crises, the corresponding figure was EUR 86 billion.
- The monetary value of new orders reported between January-March 2019 was at the same level as in the preceding quarter, but 14 higher than in the corresponding period in 2018.
- At the end of March, the value of order books was 6 % higher than at the end of December, and 14 % higher than in March 2018.
- The turnover of technology industry companies in the spring 2019 is expected to be higher than in the corresponding period last year.
- The number of personnel employed by technology industry companies in Finland grew by over 3 per cent in January-March from the 2018 average. The industry employed some 318,500 people, up nearly 7,500 from In 2008, the industry employed a total of 326,000 people in Finland.
- The recruitment activities increased again in January-March. Companies recruited a total of 12,500 new employees.
7/3/2019
Technology Industries of Finland

35. World Economic Outlook - Finland as a Part of Global Economy
7/3/2019
Technology Industries of Finland

36. GDP Growth Forecasts for 2019 Have Been Weakened in Recent Months
Forecast period
7/3/2019
Technology Industries
of Finland
Source: Consensus Economics
Teknologiateollisuus

37. GDP Is also Growing in Finland, but the Backlog for the Other Euro Area Countries Is up to 6.5%
7/3/2019
Technology Industries
of Finland
Lähde: Macrobond

38. Finnish Exports Backlog for the Other Euro Area Countries is Some 35%
7/3/2019
Technology Industries
of Finland
Source: Macrobond, Eurostat

39. Finland’s Economic Growth Has recently been Supported by Exports and Construction
7/3/2019
Technology Industries
of Finland
Source: Macrobond, Statistics Finland

40. Gross Domestic Product Has Grown Long in Europe and the USA, Finland is Lagging Behind
7/3/2019
Technology Industries
of Finland
Souce: Macrobond

41. In China, Growth Is Slowing Down, Brazil and Russia Are Experiencing a Weak Growth
Share of global GDP in China, India, Brazil and Russia is 31 % (adjusted for PP)
7/3/2019
Technology Industries
of Finland
Lähde: Macrobond

42. Economic Growth in the Euro Area Has Slowed Down Rapidly Purchase Managers’ Index (PMI), 50 = no change from previous month
7/3/2019
Technology Industries
of Finland
Latest information May 2019
Source: Markit

43. New Orders in Manufacturing in the Euro Area Have Declined, with Small Growth in Services Purchase Managers’ Index (PMI), 50 = no change from previous month
7/3/2019
Technology Industries
of Finland
Latest information April 2019
Source: Markit

44. Industrial Production Has also Grown in Finland, but the Backlog to EU Average Is 15%
7/3/2019
Technology Industries
of Finland
Source: Macrobond

45. Industrial Production Volume in the EU Countries
7/3/2019
Technology Industries
of Finland
Source: Macrobond

46. Finland’s Industrial Production Has Lagged Behind the Competition Countries
7/3/2019
Technology Industries
of Finland
Source: Macrobond, The CPB Netherlands Bureau for Economic Policy Analysis

47. Industrial Production in China Is Mildly Increasing Purchase Managers’ Index (PMI) in manufacturing industry in China
7/3/2019
Technology Industries
of Finland
Latest information May 2019
Source: Markit

48. Industrial Production in Russia Is Not Growing Purchase Managers’ Index (PMI) in manufacturing industry in Russia
7/3/2019
Technology Industries
of Finland
Latest information May 2019
Source: Markit

49. Industrial Production in Brazil Is Not Growing Purchase Managers’ Index (PMI) in manufacturing industry in Brazil
7/3/2019
Technology Industries
of Finland
Latest information May 2019
Source: Markit

50. Industrial Production Growth in the USA Is Weakening Purchase Managers’ Index (PMI) in manufacturing industry
50 = no change from previous month
7/3/2019
Technology Industries
of Finland
Source: Macrobond

51. Political Uncertainty Destabilises Global Economic Stability - Exchange Rates Are Changing a Lot
7/3/2019
Technology Industries
of Finland
Source: Macrobond

52. Fixed Investment Growth in Brazil and Russia Has Stopped
7/3/2019
Technology Industries
of Finland
Souce: Macrobond

53. World Trade Is Going Down to Lower Level
Export volume
7/3/2019
Technology Industries
of Finland
Source: Macrobond, The CPB Netherlands Bureau for Economic Policy Analysis

54. Imports to China Have Decreased from Several Countries
7/3/2019
Technology Industries
of Finland
Source: Macrobond

55. EU Exports to Russia Have Recovered only Slightly
7/3/2019
Technology Industries
of Finland
Source: Macrobond

56. Russia’s Share* of Technology Industry Exports from Finland Has Lowered to Below 5 Per Cent%
7/3/2019
Technology Industries
of Finland
*) Soviet Union up to 1991
Source: Finnish Customs

57. The World Economy Is Projected to Grow by 3.3% in 2019
GDP growth 2019 / 2018, %
India
China
Average growth:
+3,3 %
Rest of
Asia
Rest of Latin America
Middle East
and Africa
Rest of Eastern Europe
Mexico
Brazil
Russia
North America
Western Europe
Japan
The width of the bar indicates the share of global GDP in 2018 (adjusted for purchasing power parity), %
7/3/2019
Technology Industries
of Finland
Source: IMF (January 2019)

58. Demand in the Finnish Technology Industry Export Market is Expected to Grow by 2.5 % in 2019
GDP growth 2019 / 2018, %
India
Rest of Latin America
China
Average growth:
+2,5 %
Mexico
Middle East and Africa
Russia
Rest of Eastern Europe
Brazil
North America
Western Europe
Japan
The width of the bar indicates the export share of technology industry from Finland in 2018, %
7/3/2019
Technology Industries
of Finland
Source: IMF (January 2019), Finnish Customs

59. Finland’s Economic Growth Relies on Exports and Investments
7/3/2019
Technology Industries
of Finland

60. Finnish Exports Have Lagged Behind the Competitor Countries
7/3/2019
Technology Industries
of Finland
Source: Macrobond, Eurostat

61. The Additional Debt of the State and Municipalities Has Stopped and the Overall Tax Rate Has Fallen
7/3/2019
Technology Industries
of Finland
Source: Macrobond, Eurostat

62. Unlike the Competitor Countries, in Finland Business Investment Is Still Below the Level in 2008
7/3/2019
Technology Industries
of Finland
Source: OECD, Economic Outlook (November 2018)

63. Investments in the Manufacturing and Technology Industry in Finland Do Not Promise Long-Term Strong Growth
Production and R&D investments in Finland, million euros, at fixed 2017 prices
7/3/2019
Technology Industries
of Finland
Source: Statistics Finland, (National Accounts), The Confederation of Finnish Industries* investment survey (January 2019)

64. Industrial Productive and R&D Investment in Finland Have Not Yet Reached the 2007-2008 Levels
Billion euros, at fixed 2010 prices
7/3/2019
Technology Industries
of Finland
*) Including software investments.
Source: Statistics Finland (National Accounts), Confederation of Finnish Industries’ Investment Survey January 2019

65. Total Industry Investment in Finland Are Below the Consumption of Fixed Capital
Billion euros, at fixed 2010 prices
7/3/2019
Technology Industries
of Finland
*) Including software investments.
Source: Statistics Finland (National Accounts), Confederation of Finnish Industries’ Investment Survey January 2019

66. Industrial Productive Investment in Finland Have Reached the Level of Consumption of Productive Capital
Billion euros, at fixed 2010 prices
7/3/2019
Technology Industries
of Finland
Source: Statistics Finland (National Accounts), Confederation of Finnish Industries’ Investment Survey January 2019

67. Industrial Production Capital in Finland Has Disappeared Significantly, Especially after 2008
Billion euros, at fixed 2010 prices
7/3/2019
Technology Industries
of Finland
Source: Statistics Finland (National Accounts), Confederation of Finnish Industries’ Investment Survey January 2019

68. Industrial Fixed (Tangible) Investment Growth in Finland Has Lagged behind that of Competitors
Billion euros, at fixed 2010 prices, index 2005=100
7/3/2019
Technology Industries
of Finland
Source: Eurostat (National Accounts), Confederation of Finnish Industries’ investment survey, January 2019

69. Investment Rate in Industrial Fixed Investments Is at a Low Level in Finland
Tangible investments / value added, %
7/3/2019
Technology Industries
of Finland
Source: Eurostat (National Accounts), Confederation of Finnish Industries’ investment survey, January 2019

70. Industrial Intangible Investments
Industrial Intangible Investments * in Finland Have almost Halved since 2005
Billion euros, at fixed 2010 prices,
index 2005=100
7/3/2019
Technology Industries
of Finland
*) Intangible investments include research and development and software investments etc.
Source: Eurostat (National Accounts), Confederation of Finnish Industries’ investment survey, January 2019

71. Investment Rate of Industrial Intangible Investments
Investment Rate of Industrial Intangible Investments* Has Dropped Significantly in Finland
Intangible investments / value added, %
7/3/2019
Technology Industries
of Finland
*) Intangible investments include research and development and software investments.
Source: Eurostat (National Accounts), Confederation of Finnish Industries’ investment survey, January 2019

72. Investments and productivity* are Decisive for Finland’s Success
7/3/2019
Technology Industries of Finland
*) Productivity is measured as real value added per hours worked. When productivity grows (the curve rises) value added grows more than hours worked.
Source: Statistics Finland

73. In Industrial Productivity Development, Finland Has a Gap of 17% Compared to EU Average, 11% Compared to Sweden and 9% to Germany Value added in manufacturing industry at fixed prices / hours worked
2008=100
7/3/2019
Technology Industries
of Finland
Latest information October-December 2018.
Source: Eurostat: Quarterly National Accounts

74. In GDP Productivity Development, Finland Has a Gap of 6% Compared to EU Average and Some 3% to Sweden and Germany GDP at fixed prices / hours worked
2008=100
7/3/2019
Technology Industries
of Finland
Latest information October-December 2018.
Source: Eurostat: Quarterly National Accounts

75. Investment Rate of Companies Is Lower in Finland than in Other Small European Countries
Corporate fixed investment compared to value added, % (excl. financial sector)
7/3/2019
Technology Industries
of Finland
Lates information October-December 2018.
Source: Eurostat

76. Finland’s Price and Cost Competitiveness vis-à-vis the Euro Countries Is still to be Improved
Unit labour costs in the whole economy = labour costs / productivity, including the influence of effective exchange rates
Finland’s price and cost competitiveness declines
Finland’s price and cost
competitiveness improves 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18
7/3/2019
Technology Industries
of Finland
*) In the ECB Harmonised Competitiveness Index, the average effective exchange rate of each country is calculated vis-à-vis 38 main trade partners, as well as the development of unit labour costs for the total economy.
Latest information October-December Source: European Central Bank

77. Technology Industries of Finland
7/3/2019
Technology Industries
of Finland

78. The Federation’s Member Companies 2017
250–499 employees
Number of enterprises / 1 587
Number of personnel /
1–249 employees
500–999 employees
1000– employees
7/3/2019
Technology Industries
of Finland

79. The Federation’s SME Member Companies 2017
Number of enterprises / 1 439
Number of personnel /
1–19 employees
20–49 employees
50–99 employees
100–249 employees
7/3/2019
Technology Industries
of Finland

80. Operating Profit in the Member Companies of Technology Industries of Finland in 2017
Operating profit-% = operating result / turnover * 100 (before taxes and financial income and expenses)
Companies in random order
7/3/2019
Technology Industries
of Finland
Source: Statistics Finland

81. Net Profit in the Member Companies of Technology Industries of Finland in 2017
Net profit -% = net profit / turnover * 100 (after tax and financial income and expenses)
Good (21 %)
Satisfactory (23 %)
Weak (33 %)
Unprofitable (23 %)
Companies in random order
7/3/2019
Technology Industries
of Finland
Source: Statistics Finland

82. Return on Assets in the Member Companies of Technology Industries of Finland in 2017
Return on assets -% = (net income + financial expenses + taxes) / (capital invested in the financial year) * 100
Companies in random order
7/3/2019
Technology Industries
of Finland
Source: Statistics Finland

83. Equity Ratio in the Member Companies of Technology Industries of Finland in 2017
Equity ratio -% = (total equity + total appropriations accrued) / adjusted balance sheet * 100
Companies in random order
7/3/2019
Technology Industries
of Finland
Source: Statistics Finland