The Finnish Fair Corporation | Annual Report 2024
A Year of Growth
In 2024, The Finnish Fair Corporation successfully implemented its growth strategy. The year was marked by strong overall performance.
Our mission is to create growth via encounters. This means promoting our clients’ businesses, inspiring visitors, and supporting trade and industry.
From the CEO
The year 2024 was a strong one in terms of performance for the Finnish Fair Corporation. Our turnover approached the level of the record-breaking pre-pandemic year. This achievement is particularly notable given the modest pace of Finland’s economic growth in recent years.
There has nevertheless been steady demand for impactful and experiential events. Many of our events – such as I love me and the Helsinki Book Fair – broke visitor records, and many professional events also saw an increase in popularity compared to previous years. New event concepts were launched to meet our customers’ evolving needs.
This demonstrates that events hold a strong position as a marketing channel and as a generator of trends. They enable almost limitless possibilities for creative execution and storytelling. Genuine encounters build trust, laying an excellent foundation for doing business.
The Finnish Fair Corporation has made sustainable growth the main goal of its strategy. Our growth strategy defines our mission as creating growth through encounters. We support our customers’ business, provide inspiration for our visitors, and strengthen economic life in a socially, economically, and environmentally sustainable way.
The excellent feedback we have received from customers further encourages us in implementing our growth strategy. We maintain close ties with numerous industries and offer a robust programme, continuously renewing our events together with our customers. We develop our facilities, services, and technology in a business-driven manner, listening to the needs of our customers. We are investing heavily in service development and are quick to embrace new opportunities that enhance our operations – such as artificial intelligence.
The events business has a significant positive impact on its surrounding area. Our socially and economically responsible operations support sustainable growth and offer employment opportunities for people from diverse backgrounds. Our business has a notable societal impact, as demonstrated by our growing contribution to income and employment in the Helsinki region. Our goal is to increase the economic and employment impact of our events to €400 million by 2026.
Enhancing the attractiveness of Finland and Helsinki, in cooperation with the City of Helsinki and our other partners, is of great importance to us. We are actively working to broaden collaboration with both local and international partners.
Our partnerships also extend to sustainability efforts. In autumn 2024, Helsinki topped the Global Destination Sustainability Index, which measures the sustainability of travel destinations. The sustainability work at the Helsinki Expo and Convention Centre is also highly regarded, and we are proud to be pioneers in the development of sustainability.
I would like to warmly thank our skilled personnel, as well as our customers and partners, for a successful year. Sustainable growth is achieved through working together.
Anni Vepsäläinen | CEO
BASED ON RESEARCH
Significant Economic and Employment Impact
According to the latest survey by Taloustutkimus, Helsinki Expo and Convention Centre generated an income flow of €245 million for the Helsinki metropolitan area. The employment impact of our operations amounted to 3,335 person-years. (Taloustutkimus 4/2025)
Report of the Board of Directors
Overview
The purpose of The Finnish Fair Corporation Group is to create growth through meetings by providing impactful event experiences. Our goal is to become the leading trade fair and event organiser in the Nordic countries. In addition to Helsinki Expo and Convention Centre, The Finnish Fair Corporation Group includes the event organiser Expomark Oy and the audiovisual technology company Suomen Videoviestintä SVV Oy.
In 2024, the Finnish Fair Corporation successfully implemented its growth strategy. The year was financially strong. Helsinki Expo and Convention Centre’s turnover was €58.4 million (compared to €51.3 million in 2023), representing a 13.9% increase from the previous year, almost reaching the pre-pandemic record year of 2019.
The Group organised a total of 36 trade fair events in 2024 (33 in 2023). The number of exhibitors at these events was 6,883 (5,948), and the exhibition space sold amounted to 187,280 m2 (211,232 m2).
In addition to its own trade fairs, Helsinki Expo and Convention Centre hosted 25 (30) guest events and 450 (486) meetings, congresses, celebrations, entertainment productions, and special events. International congresses held amounted to 8 (8), with a total of 34,358 participants. The revenue and employment impact of the congresses was €68.7 million. The new venue and service concept, BÖLE Arena & Club, produced six entertainment events in its first full year of operation, attracting 18,296 guests.
Among the events at Helsinki Expo and Convention Centre, several set visitor records, including the I love me fair with nearly 61,000 visitors and the Helsinki Book Fair, which together with the Wine & Food fair reached a record of 97,725 visitors. Visitor numbers also increased in several professional events compared to the previous one, such as Cyber Security Nordic, the Finnish Dental Convention, and the Agricultural machinery trade fair. In total, 898,993 (883,280) visitors attended the group’s events.
Programme development continued strongly. The Exhibitions business unit brought a new public event to the programme range with the Food fair, and the other business area, the Messukeskus Events & Congresses business unit announced a ten-year partnership agreement, which will move Helsinki International Horse Show to Helsinki Expo and Convention Centre starting 2026. The subsidiary Expomark Oy assumed responsibility for organising the International Sportsmen’s fair in Riihimäki as well as the events of Pohjanmaan Expo, which were transferred under Expomark’s mandate at the end of the year.
During the reporting year, a significant investment decision of 6 million euros was made for a 5,000-seat arena, which will provide flexibility for the largest halls at Helsinki Expo and Convention Centre. The investment serves the entire Helsinki area and fills a gap in the selection of conference, corporate, and sports event venues, as well as other similar event spaces in the metropolitan region.
Finland’s largest LED wall installed in a meeting room was introduced in the conference facilities, significantly enhancing the technical capabilities of Helsinki Expo and Convention Centre’s largest conference hall.
In Taloustutkimus’s TEP 2024 survey aimed at work-life decision makers, the Helsinki Expo and Convention Centre ranked at the top of its industry. Helsinki Expo and Convention Centre received the best overall rating shared among event and fair organisers and was the top company in the sector for the functionality of the fair and exhibition spaces, diverse service offerings, as well as reliability and delivery performance. In the reporting year, the customer Net Promoter Score (NPS) was 45, compared to 46 the previous year.
Sustainability
Helsinki Expo and Convention Centre takes responsibility for the environment, people, and economic sustainability. Sustainability efforts are reported in accordance with the ESG model, also considering UN’s Sustainable Development Goals. Helsinki Expo and Convention Centre continued the refinement of its double materiality analysis and the planning of a more detailed stakeholder survey.
Work continued on key strategic responsibility themes:
Attractive and safe events that enable meetings: The goal is to provide reliable and ethically sustainable service; metrics include income and employment impact, media coverage, event NPS, and the renewal of the SHORE certification. The aim is also to increase the income and employment impact of events to over 400 million euros by 2026.
Commitment to sustainable practices: The goal is small and decreasing environmental impacts, with metrics including recycling rate, carbon footprint, and energy use. The long-term target is to be carbon-neutral by 2030.
Well-being of employees and partners and a safe working environment: The goal is a healthy and skilled workforce; metrics include eNPS, staff turnover, and the number of staff training days.
During the reporting year, planning for event-specific carbon footprint calculation was advanced. Helsinki Expo and Convention Centre received the Live Foundation’s challenge for promoting diversity and the employment of people with specific work capabilities, Suomen inhimilliset työpaikat. The restaurant services were awarded the Ekokompassi environmental certificate. Helsinki Expo and Convention Centre’s partner in restaurant and catering services is NoHo Partners. During the spring, the entire staff was trained on Helsinki Expo and Convention Centre’s key responsibility goals and actions. Additionally, new partners were sought, particularly in the area of social responsibility.
| Key Figures | 2024 | 2023 |
| Revenue and employment impact M€ | 245 | 187 |
| NPS | 45 | 46 |
| Recycling rate % | 23 | 19 |
| Waste management CO2-emissions | +6 tonnia CO2e | -51 tonnia CO2e |
| Group CO2e, tonnes (Scope 1-2)* | 1 261 | 2675 |
| eNPS | 40 | 37 |
* market-based CO2e calculation
Personnel
The number of permanent staff employed at the end of 2024 was 177 (163). The Finnish Fair Corporation also offers internships for students. The goal is to provide students with meaningful work experience and a genuine learning environment in various tasks related to event production. In 2024, an average of 9 (6) interns worked at the Finnish Fair Corporation in diverse roles in marketing and communications, customer service, IT, and HR. The Finnish Fair Corporation has a strong employer reputation, and there are a high number of good applicants for newly opened positions.
The Finnish Fair Corporation has an organisational model that is suitable for the rapid resource fluctuations required by project-based business operations. In addition to permanent staff, expert and resource pools built for various functions are used during peak periods.
Regular measurements of staff satisfaction continued, and staff satisfaction remained high. The Group’s employee satisfaction index (eNPS) was 40 (37).
Owners
On 31 December 2024, the Finnish Fair Corporation Ltd is owned by 196 shareholders, including numerous companies, the City of Helsinki and The Finnish Fair Foundation. The largest shareholder in the Finnish Fair Corporation Ltd continues to be the long-standing background entity the Finnish Fair Foundation, which holds 89% of the shares and thus exercises control over the Finnish Fair Corporation Ltd. The number of shares is 44 278 and there is only one class of shares. If a share in the company is transferred to an external new owner, the transfer must be notified to the company’s Board of Directors without delay. The company has a primary right and the shareholders a secondary right to redeem the shares transferred to the new shareholder under the conditions specified in the articles of association.
Economic development
Turnover and result
In 2024, the Finnish Fair Corporation Group consisted of the Finnish Fair Corporation Ltd and its wholly owned subsidiaries Expomark Oy and Suomen Videoviestintä SVV Oy.
The Group’s turnover in 2024 was EUR 58.4 million (EUR 51.3 in 2023), a change of +13.9% from the previous year.
Of the subsidiaries, Expomark Oy had a turnover of EUR 2.9 million and an operating profit of EUR 499 thousand. Suomen Videoviestintä SVV Oy’s turnover increased to EUR 7.6 million and its operating profit was EUR 1.4 million.
Group operating expenses amounted to EUR 53.7 (50.0) million, of which depreciation according to plan amounted to EUR 7.5 (7.5) million.
Group operating profit was EUR 4.7 (1.3) million. The operating result in relation to turnover was +8.0 % (+2.6 %). Group profit before accounting transfers and taxes was EUR 5.2 (1.6) million. Group profit for the period was EUR 5.4 (1.9) million.
Financing
The Group’s operating cash flow was EUR +13.1 (+9.1) million. Investment cash flow was EUR -6.4 (-3.2) million.
Interest-bearing liabilities at the end of the financial period amounted to EUR 0 (0) million. The balance sheet total amounted to EUR 100.8 (93.7) million, with an equity ratio of 88.8 (89.3) %.
The debt-to-equity ratio is 0 (0) %.
Taxes
Group taxes amounted to EUR 0.2 (0.3) million.
Investments
Group investments totalled EUR 6.5 (3.2) million or 11.1 % (6.3 %) of turnover. Investments in property replacement and maintenance amounted to EUR 4.1 million, IT and digital investments to EUR 0.8 million and investments in rental equipment to EUR 1.6 million.
Dividend policy
The Finnish Fair Corporation Group’s objective is to pay a dividend of 1/3 of its net profit, taking into account the company’s financial situation and strategy.
Outlook for 2025
The situation of the Finnish economy is likely to have a positive impact on the purchasing behaviour of both business and consumer customers, but more strongly only in the second half of the year. The decrease in interest rates has already positively affected consumer’s disposable income, thus enabling spending in the event industry as well. The return of inflation to normal levels, on the other hand, helps in managing the costs of organizing events.
Strikes due to unstable labour market situation will pose challenges in event production, at least in the first half of the year.
The implementation of the growth strategy will continue. The new movable seating will be available for use in the summer of 2025. This will further enable the expansion of the event portfolio in the areas of sports, culture, and various business sectors. Regarding the Helsinki Expo and Convention Centre’s Events & Congresses business, a strong year for international congresses is expected. In addition, there will be a continued strong focus on developing and growing the new BÖLE Arena & Club event concept.
Investments will continue in the property, upgrading of the facilities available for rental to customers, AV technology and marketing and financial information systems taking into account AI.
Significant events after the end of the financial year
The Finnish Fair Corporation has made a significant investment decision to build a new event space at the Helsinki Expo and Convention Centre. Planning has already begun, and construction will start in the spring of 2026.
Risks and uncertainties
The delay in economic growth may affect the investments of both visitor clients and exhibitors in the event industry. Prolonged strikes could also weaken exhibitors’ ability to invest in trade fairs. However, the event portfolio is relatively strong and can withstand short-term changes, while simultaneously requiring continuous development to ensure that events maintain their position in the media market.
The security expertise of the Helsinki Expo and Convention Centre includes comprehensive security systems, trained staff, well-maintained premises, continuous surveillance, cyber risk preparedness, continuous security planning and close cooperation with authorities. Personal and property risks are countered through systematic risk management. The financial impacts of risks are also well protected through comprehensive insurance coverage.
Staff
The Group employed an average of 171 (159) full-time employees during the financial year. Total wages and salaries amounted to EUR 14.1 (13.2) million.
| Group business development 2020–2024 | 2024 | 2023 | 2022 | 2021 | 2020 |
| Turnover, 1000 EUR | 58 418 | 51 279 | 46 038 | 14 744 | 20 152 |
| Change in turnover, % | 13,9 | 11,4 | 212,2 | -26,9 | -66,0 |
| Operating result, 1000 EUR | 4 671 | 1 328 | 4 650 | -10 392 | -13 496 |
| % of turnover | 8,00 | 2,59 | 10,10 | -70,50 | -67,0 |
| Return on equity, % | 6,6 | 2,4 | 6,6 | -13,0 | -14,7 |
| Equity ratio, % | 88,8 | 89,3 | 86,8 | 87,5 | 87,8 |
| Personnel on average during financial year | 171 | 159 | 141 | 154 | 202 |
| Salary amount for the financial year, 1000 EUR | 14 087 | 13 220 | 10 545 | 7 057 | 8 936 |
| The Finnish Fair Corporation Ltd’s business development 2020–2024 | 2024 | 2023 | 2022 | 2021 | 2020 |
| Turnover, 1000 EUR | 53 164 | 47 269 | 40 714 | 13 953 | 19 605 |
| Change in turnover, % | 12,5 | 16,1 | 191,8 | -28,8 | -64,6 |
| Operating result, 1000 EUR | 2 756 | 295 | 2 381 | -9 240 | -11 874 |
| % of turnover | 5,18 | 0,62 | 5,85 | -66,2 | -60,6 |
| Return on equity, % | 4,0 | 0,6 | 3,0 | -11,7 | -13,1 |
| Equity ratio, % | 86,6 | 87,5 | 85,3 | 86,6 | 85,7 |
| Personnel on average during financial year | 137 | 127 | 111 | 124 | 172 |
| Salary amount for the financial year, 1000 EUR | 11 595 | 10 834 | 8 683 | 6 054 | 7 747 |
Our vision is to be the number one partner for encounters. We offer unforgettable event experiences. This makes us the number one partnering choice for clients seeking to make their mark in encounters.
Administration
The Board of Directors consists of 5 members. Board members 31.12.2024 are:
Chairman:
Timo Lappalainen, Chairman of the Board, MSc Tech
Vice Chairman:
Leena Niemistö, Board Professional, MD
Members:
Karri Kaitue, Board Professional
Anu Nissinen, Board Professional
Sam Nieminen, Board Member, SGN Group Ltd (until 16 April 2024)
Pia Pakarinen CEO, the Helsinki Region Chamber of Commerce (from 16 April 2024)
Members of the Board of Directors of the Finnish Fair Corporation Ltd received an attendance allowance of EUR 1 100/meeting and EUR 1 100 per month in 2024. The Chairman of the Board was paid a monthly remuneration of EUR 2 200 € and an attendance allowance of EUR 2 200 € per meeting.
Executive Board
Anni Vepsäläinen, CEO
Mikko Horppu, Director | Exhibitions business unit
Marcus Bergström, Director | Messukeskus Events & Congresses business unit
Lumia Ankkuri, Director, Marketing and Communications
Petteri Nissinen, CFO
Mika Vakkilainen, Director, Property and Production
Auditors
Principal auditor
PricewaterhouseCoopers Oy Riitta Ulvinen
Proposal of the Board of Directors for distribution of the profit and free equity
Proposal of the Board of Directors of the Finnish Fair Corporation for distribution of the profit and free equity for the financial year 2024:
The distributable assets of the Finnish Fair Corporation Ltd on 31 December 2024 are EUR 12.352.427 of which EUR 5 724 130.14 is the profit of the financial year. The Board of Directors proposes to the General Meeting, that a dividend of EUR 39 per share be distributed for the financial year ended on 31 December 2024. No dividend will be paid on the company’s own shares held on the record date for the dividend payment.
On the date of making the proposal for profit distribution, there are 44 278 shares eligible for dividend so the total amount of the dividend would be EUR 1.726.842.
According to the proposal, the dividend would be paid to those shareholders who are registered in the company’s shareholder register maintained by the company on the record date for the dividend payment, which is 30 April 2025.
The company’s liquidity is good, and the proposed profit distribution, according to the Board’s view, does not jeopardise the company’s solvency..