OP's Survey of Large Corporations: Big businesses anticipate that a turning point is near – moderate growth in investments
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The Survey of Large Corporations indicates that in 2025, large Finnish companies will continue to focus on increasing business efficiency instead of expanding their operations. However, cautious optimism is visible as the share of large companies looking to expand has increased slightly compared to last year.
Large companies are also hopeful concerning the revival of market demand, and the decrease in interest rates is expected to increase demand during the second half of 2025. During the whole year, demand is expected to grow by 1.5 per cent in Finland and 2.7 per cent abroad. There are sales growth expectations especially for the euro area outside Finland.
– Because companies create sustainable prosperity, security and wellbeing for the whole of society, even slightly firmer optimism is a positive signal for Finland. Now is the time for Finnish large companies to prepare for the looming recovery and take bold expansionary steps, says the CEO of OP Corporate Bank, Katja Keitaanniemi.
No signs whatsoever of investing in redesign – with the exception of artificial intelligence
Based on the Survey of Large Corporations, moderate growth is expected in 2025 for investments in both tangibles and intangibles. However, the growth is very cautious – and for many investments, even lower than the anticipated inflation. For example, an average of only 0.6 per cent more is budgeted for production capacity and facilities this year compared to the previous year.
Right now, large companies are mainly investing in their current businesses and improving their efficiency. Very few companies are planning investments in entirely or mainly new business activities.
– Risks related to the development of the economy and market require accurate investment decisions from companies. At the moment, investments are seeking a balance between realism and optimism. Bold transformation remains noticeable through ts absence: only a fraction of big firms intend to really reinvent themselves this year, says Keitaanniemi.
Even though big firms are not planning to increase their investments in the renewal of business or in product and service development this year, additional investments are expected in the development of artificial intelligence features for production processes and end products. Further investments in the digitalisation of products and services are also planned to some extent.
The focus area of production is “near and in the West”
In their international competitive arenas, no Finnish large companies are immune to geopolitical turmoil. Half of respondents view the emergence of global trading blocks and growing protectionism as a threat.
– Finnish big firms intend to continue growing production in Finland and Europe. “Local and westward” looks to be the key production and sales theme in 2025, says Katja Keitaanniemi.
The results are based on OP's annual Survey of Large Corporations, which measures large Finnish company executives’ views on business and economic developments. The target group of the survey is comprised of 250 largest companies in terms of net sales operating in Finland. They can be either companies established in Finland or Finnish subsidiaries of foreign companies. This year's survey received responses from 207 senior executives of 137 such companies. According to their latest certified financial statements, the responding companies have a combined revenue of over 202 billion euros, and they employ over 431,000 people in total. The survey was conducted in autumn 2024. OP Financial Group carries out the Survey of Large Corporations in partnership with the Nordic Institute of Business and Society (NIBS) think tank founded by Aalto University professors.
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