Olas sales grew by half and revenue by nearly one-third

Olas Group, which builds wooden geothermal-heated homes in the Helsinki metropolitan area, increased its sales by 52% in 2024 compared to the previous year. The company’s revenue grew by 30.1%, rising to approximately €23 million. Last year, the company was the number one developer-contractor of single-family homes in the Helsinki region.  

Olas Group’s operating profit in 2024 increased by 4% to €1.7 million. The equity ratio was over 65%. At the end of the financial year, the company had €1.7 million in cash, which—thanks to cash flow from already completed transactions—ensures the completion of all ongoing projects without requiring new housing sales. Olas Group maintained its AAA credit rating for the third consecutive year.  

Olas becomes market leader in developer contracting for single-family homes in the capital region

Olas Group has risen to market leadership in developer contracting of single-family homes in Helsinki, Espoo, and Vantaa, measured by the number of homes sold.  

According to sales data collected by STH Group, which specializes in construction market data, Olas shared the top spot in the twelve-month period ending mid-October 2024 with YIT Housing Oy and T2H Rakennus Oy, each holding an 11.46% market share.  

In the most recent six-month period, Olas was the clear market leader with a 17.36% share. STH Group collects this data semi-annually in mid-April and mid-October.  

““Despite the overall weakness in the housing market, demand for Olas-built homes has remained strong. Olas’s solid financial performance has helped build trust and given security to homebuyers,” says Markus Alitalo, CEO of Olas Group.  

Growing demand for detached houses/h2>

Based on Olas Group’s own marketing data, interest in its detached houses is growing. Alitalo anticipates positive development throughout the year.  

“All the projects we started in 2024 were sold out before completion. Now, in the early months of this year, interest in our houses has increased. This is reflected in the number of inquiries compared to the same period last year. I believe that the pent-up demand for detached houses will begin to be released during this year. The decline in reference interest rates supports this positive trend,” Alitalo states.

More information

Markus Alitalo
toimitusjohtaja
Olas Group Oy
markus.alitalo@olas.fi
puh. +358 40 545 9373