instalaiset

New net sales record, a trusted partner, and an attractive place to work

Annual report 2023

Insta empowers a secure and sustainable future. We are a diversified technology company, a front runner and a reliable partner for our customers in the fields of industry, defence, software consulting, and cyber security.

A diversified technology company – Empowering a secure and sustainable future

Insta empowers a secure and sustainable future. We are a front runner and reliable partner for our customers in the fields of industry, defence, software development, and cyber security.

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Year 2022

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Net sales
153,4 M€
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The number of our team increased
1 150 Insta team members
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A record year in electrical cabinet deliveries
Insta SafeLink Lite & Insta Steel
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Growth in net sales
7 %
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Record growth in the sale of cyber security services
44 %
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The development of digitalization services and data platform brought in new accounts
Business areas

A diversified company - Four fields of business

Industry

A forerunner in automation, electrification, and secure digitalization

Our unique solutions help our customers in Finland and internationally to strengthen their competitiveness by improving productivity, security, and reliability. Our expertise combines in-depth know-how and customer understanding in all tasks and deliveries of our industrial areas of expertise for the entire life cycle of our customers' operations.

Defence

A forerunner in connected defence solutions

We deliver superior performance to our customers through our command and control solutions, secure communication solutions, and life-cycle services in avionics. We have operated in the defence market for more than 50 years. Our technological know-how as well as NATO compatible products and services accelerate our internationalization.

Cyber security

A trusted and international supplier of cyber security services

We offer a wide range of cyber security services from consulting to cyberattack prevention and from network security to the secure digital identity of persons and devices. Our services, products, and broad international partner network are trusted by corporations and public sector organizations in Finland and abroad.

Software consulting

Competent, agile, and comprehensive software consulting services.

Our strong competence helps our customers evolve, develop further, and create a unique customer experience in the increasingly connected world. We differentiate ourselves with know-how that emphasizes a strong understanding of the industrial environment, information security, and experience in implementing critical systems.

Another year of records

The year 2023 was a year of records for the diversified technology company Insta. Our net sales grew by more than 13% and accelerated to a new record of EUR 173.9 million. All of our business areas reached new record levels in sales, leaning on strong growth as well as the successful acquisition and completion of customer projects in the fields of defence, cyber security, and industrial electrical and automation solutions. The past year was Insta’s thirteenth consecutive year of growth; during that time, we have grown by a total of 250%, most of it organically.

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Insta’s key figures for 2023

In 2023, Insta Group reached another record in terms of net sales, which amounted to €173.9 M. The company’s net sales grew by 13.4% from the previous financial period. EBIT was €17.0 M and net result stood at €15.4 M; both of these figures grew significantly as a result of volume growth and improved profitability. The Group’s liquidity and financial position remain at an excellent level.

Key figures for 2023

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153.4 M (2022)
Net sales €173.9 M€
Insta ikoni bulls eye
€12.0 M (2022)
Profit for the period €15.4 M
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€15.7 M (2022)
EBIT €17.0 M
Meter icon
Equity ratio 68.2%
64.3% (2022)

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Strategy 2023–2026

Profitable growth and target: Empowering a secure and sustainable future

Insta’s aim is to help and support our customers in a connected world that is becoming digitalized at an accelerating pace. Together, we look for solutions for ensuring social stability, improving competitiveness, and . Our strategic aim is to empower a secure and sustainable future for our customers and stakeholders now and in the future.

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Strategy

Successes in 2023

The best customer experience

  • Our continuously developing services and new products were met with an excellent welcome.

  • Our customer satisfaction is at a high level. The likelihood of us being recommended is very high – Insta’s Net Promoter Score (NPS) was 61 while the average for B2B companies was 39. We were also praised for the high professional competence of our personnel and our reliability as a supplier.

Profitable growth

  • Our net sales reached a record of EUR 173.9 million. This was our 13th consecutive year of growth.

  • Our EBIT and net result grew strongly.

  • In particular, the market position of our cyber security business has been significantly strengthened; net sales grew by 28% in 2023.

Excellent workplace

  • The overall results from our annual personnel satisfaction survey were commendable. Our eNPS (Employee Net Promoter Score), which describes employee engagement, was 36 at the group level, which is an excellent result; in our cyber security unit, for example, the score was an astonishing 58.

  • Insta is an attractive and meaningful place to work. We succeeded in recruiting competent personnel, and the need to recruit experts will continue in 2024.

Internationalization

  • We promoted the exports of our existing in-house defence solutions to the international market.

  • First commercial contract on indirect industrial cooperation with Lockheed Martin regarding the development of a data filtering solution for military environments.

  • Our know-how in cyber security is already being utilized in more than 50 countries and across all continents. Our partners play a significant role in terms of internationalization.

Megatrends

Global megatrends

Global change phenomena affect us in many ways – in terms of business as well as the well-being of people. Views of the future related to technology emphasize the utilization of Artificial Intelligence, among other things. It enables making better decisions, boosting production efficiency, improving quality, optimizing logistics, reducing energy consumption, and developing customer service and maintenance operations further. At Insta, we keep a close eye on the change phenomena and consider the opportunities that new technologies can offer us and our customers in the future.

Trends

Global megatrends

A battery-shaped pond located in a lush forest.

Megatrends - green transition

Climate change and the green transition

  • Dwindling resources and the requirements of carbon neutrality (net zero carbon emissions by 2035) modify the industry’s needs and investments.

  • Sustainability is highlighted in all activities.

  • Strong investments in renewable energy continue, and the construction of infrastructure that supports the green transition is accelerating in electricity and heat generation, for example.

3D Rendering of abstract fast moving lines. High speed motion blur. Concept of leading in business, Hi tech products, business plan, goals and achievement, advanced technology.

Megatrends - technological development

The ever accelerating technological development

  • Digitalization, mobility, networking, data, AI, and robotics change the ways of working and create new opportunities.

  • The need for cyber security solutions grows as a result of the increased connectedness of systems and the growth of cybercrime.

  • The green transition and the COVID-19 pandemic accelerate the commissioning of new technologies in industrial applications.

Megatrends - geopolitical instability

Geopolitical instability

  • The unstable situation and war in Ukraine impact the defence sector in many ways. In Europe, additional funding is especially directed to materials purchases and increased preparedness.

  • The demand in the international defence technology markets is growing.

  • The NATO membership shapes the Finnish defense industry market and creates new opportunities.

Insta`s SOC cybersecurity
Research and product development

Research and product development – maintaining our front-runner role

Insta helps its customers succeed today and in the future. This requires strong expertise and long-term research and development work, which we have been doing for more than 60 years. In addition to the development projects that we do in-house and for our customers, we engage in comprehensive collaboration with research institutions and other companies in national as well as international projects.

The work to build a more secure society continues

International research projects:

AI for Situational Awareness (AISA)

The objective of the AISA project is to drive the development of AI for situational awareness and its comprehensive utilization in various intelligent digitalized industrial production environments. Insta’s aim is to study, conceptualize, develop, and pilot a data-based, secure, modular, multi-level family of solutions to support the management and operations in the process industry and manufacturing industry. Business Finland 2021–2024,

Enhanced Pilot Interfaces & Interactions for fighter Cockpit (EPIIC)

This joint-European project aims at developing innovative technologies required for the future air warfare that ensure pilots’ success in demanding air warfare environments. Insta participates by looking at solutions that monitor the pilot’s performance and state of health. Funded by the EU & European Defence Fund 2023–2025.

AI-NET ANTILLAS

An extensive international research project that aims at promoting digital transformation in Europe. Insta is studying device identity solutions, taking into account edge computing and IoT environments that enable the reliable integration of third-party solutions into the 5G and 6G network environments. Business Finland 2022–2024.

Swarm intelligence and autonomy

iMUGS 2020-2023

The objective of the project was to create a modular and scalable architecture for hybrid manned-unmanned systems for the defence forces of European countries. Insta developed software solutions that enable, for example, the joint operation of autonomous vehicle swarms in a role that provides operational support for a military unit or the independent operation of a swarm during a transport or reconnaissance mission without continuous communication with the command & control system or an operator. The project also created a prototype of a simulation and visualization environment for the development of control algorithms for autonomous vehicles. iMUGS is one of the projects funded under the EDIDP (European Defence Industrial Development Programme).

Intelligent industry

Operational eXcellence by Integrating Learned information into AcTionable Expertise (OXILATE)

The solutions developed by insta advanced the Finnish consortium’s general objective of creating a digital twin of a factory. The solutions comprised data-based and cyber secure solutions, which are part of intelligent industry, and products created by software consulting. In addition to software based solutions, academic theses and scientific articles were completed during the project. Business Finland 2020–2023.

A factory silhouette decorated by green grass with a blue sky in the background.
Key highlights 2022

Industry

Comprehensive services for the industry

Insta is a one-stop-shop for industrial automation, electrification, and digital solutions. Our strength is the management of the entire value chain through our expertise in turnkey deliveries, engineering, cabinet manufacturing, installations, and life-cycle management.

Customer-orientation and new production facilities

Despite the economic downturn, our financial performance and order volumes remained at a good level in 2023. Led by our updated strategy, we built a solid foundation for growth and development. Our particular focus areas are boosting the efficiency of the structures and models in leadership, sales, and purchasing. 

We developed our practices and company structure from production orientation toward new directions established based on customer sectors. Installation, Engineering, and Manufacturing performed strongly alongside the new business units Industry & Infra and Energy. Energy focuses on a single customer sector, and its service model will be used in the future in the development and management of accounts from other sectors. 

The past year also included new facility projects. Early in the year, Insta Automation’s subsidiary Mattila Porvoo relocated to modern facilities in the Kulloo Nyby business area. In late summer, the construction of new production facilities (M Hall) for the cabinet manufacturing business started in Sarankulma, Tampere.  

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Highlights for 2023

Lockheed Martin F-35 and landscape Insta
Key highlights 2022

Defence

Leading expertise, close collaboration and opportunities offered by NATO

Insta is a front-runner in solutions and services for networked defence, a supplier of smart command & control systems, and a provider of life-cycle support services for security of supply. As a long-term strategic partner of the Finnish Defence Forces, we have an important role in ensuring the security of supply and in securing industrial self-sufficiency.

Strong growth for several consecutive years

Our defence sector net sales and financial performance grew in 2023.

The development of the international defence collaboration as a result of Finland’s NATO membership is positive for the Finnish industry as well as European security, even though instability and unpredictability around the world continue.

Close collaboration and partnerships

We work closely with the other actors in the field. Our more than 50-year-long collaboration as well as strategic partnership with the Finnish Defence Forces developed favorably. Overall, customer satisfaction was at a good level.

Interest toward the defence sector is growing

The interest toward the defence sector and opportunities to secure Finnish society have grown, which is also reflected in recruitment. Those who work in the Defence business demonstrate high levels of job satisfaction, with an increase from the previous year.

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Defence

Spotlights

Insta SOC cyber security
Key highlights 2022

Cyber security

A comprehensive cyber security partner

Insta is one of Finland’s most significant cyber security partners. We offer a wide range of cyber security services from consulting to cyber defence and from network security to secure digital identity. Our services, products, and broad international partner network are trusted by corporations and public sector organizations in Finland and abroad.

The unstable global situation with various threats, digitalization, and the growing regulations drive the demand for cyber security services

For example, the European Cyber Security Directive NIS2 and the new national legislation on cyber security risk management enacted for its enforcement pose new obligations for a large number of companies and organizations that require them to prepare for cyber threats. The objective of NIS2 is to raise the level of cyber security in Europe and to reduce the losses caused by cyber crime. The directive covers actors whose operations are considered to be critical for society. Such actors must comply with the requirements of NIS2 as of October 2024.

The threats and opportunities posed by AI will be multiplied by the 2030s. The role of cyber security and demand for new services will only grow in the future.

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Cyber Security

Highlights for 2023

cyber security concept with lock

Secure data transfer between networks of different security levels

Insta signed a contract on gateway solutions with the Finnish Defence Forces.

Green trees nature picture sustainability Insta
CYBERSECURITY

"The cyber environment continues to change"


The world is becoming more complex with technological development, and cyber security solutions have been developed at least at the same pace.

Marko Hautakangas, Vice President Cyber Security

NIS2-directive
CYBERSECURITY

Cyber security will receive even more attention in the future

The unstable global situation with various threats, digitalization, and the growing regulations drive the demand for cyber security services. For example, the European Cyber Security Directive NIS2 and the new national legislation on cyber security risk management enacted for its enforcement pose new obligations for a large number of companies and organizations that require them to prepare for cyber threats. The objective of NIS2 is to raise the level of cyber security in Europe and to reduce the losses caused by cyber crime. The directive covers actors whose operations are considered to be critical for society. Such actors must comply with the requirements of NIS2 as of October 2024.

The threats and opportunities posed by AI will be multiplied by the 2030s. The role of cyber security and demand for new services will only grow in the future.

Cybersecurity

Spotlights

Insta News
Insta employees at the office, plants, computers, plants
Key highlights 2022

Software Consulting

Agile software development and digitalization

Insta offers agile, comprehensive software consulting services. Our strong competence helps our customers evolve, develop further, and create a unique customer experience in the increasingly connected world. We differentiate ourselves with professionalism that emphasizes a strong understanding of the industrial environment, information security, experience in implementing critical systems, and expertise in modern, reliable technologies.

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Laura Niittylä Insta
Softwareconsulting

During 2023, we have clarified our strategy, thought about our competitive advantage, and considered the best ways in which we can help our customers succeed. Our objective is to be our customers’ trusted and agile technology partner that has in-depth understanding of its customers’ needs and that can help them reach the best competitive advantage in the constantly evolving business environment.

Laura Niittylä
Vice President, Digital

Helen's Katri Vala heat pump plant Insta square

Customers and partners

Strengthening our customers’ competitiveness

Our success factors include genuine, in-depth customer understanding, our developing range of services and products as well as our competent personnel. Strong commitment characterizes us. Continuous improvement lays the foundation for long-term partnerships.

We have operated within the industry for more than 60 years. On the defence market, we are known as front runners and reliable partners. As a strategic partner to the Finnish Defence Forces, we have taken part in NATO partnership activities for years already. Our know-how in cyber security is already being utilized in more than 50 countries and across all continents.

Security is part of our core competence, culture, and approach. We want to secure the business functions of our customers in all situations. We have a strong team spirit and, as a family company, our way of working is agile and flexible.

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Customers & partners

Our success factors

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Products and services that our customers value

Our products and services are valued by our customers and meet their needs. We engage in close collaboration with our partners and build partner networks.

Competence

Continuous competence development

Our customers can rely on our state-of-the-art competence. The solutions that we offer are technically advanced and competitive.

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Technology

A front runner in technology

We know new technologies and apply them to the customers’ challenges in new and innovative ways.

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Personnel

An inspired, competent, and committed team

Our work inspires us, and we continuously develop our competence. We are a family-owned company with an atmosphere that encourages open dialog and supports success and enjoyment at work.

Personnel & Culture

We offer a flexible working life

As a family company and in alignment with our culture, we have especially focused on finding the best solutions for everyone in their current life situation. We continuously hire new people to become part of our high-performance teams. Over the course of the year, we hired more than 130 software developers, automation experts, cyber security professionals, and other specialists.

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Highlights for 2023

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Personnel satisfaction

Commendable personnel satisfaction

Sources of workplace comfort: interesting assignments, help and support from coworkers, and a focus on well-being.

Insta icon people employess teamwork 41

Professionals

More than 1,100 professionals

Over the course of the year, we hired more than 130 software developers, automation experts, cyber security professionals, and other specialists.

A way through the forest Insta

Sustainability

Taking care of people and the environment

A sustainable approach enables the profitability and continuity of our business – we create a more sustainable society through our solutions and services. Our solutions are sustainable and safe for people, society, and the environment. Our sustainability is guided by the company’s Ethics Guidelines and policies. People, competence, and quality lay the foundation for our company culture.

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Sustainability

Highlights for 2023

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Core competence

Security and sustainability as part of our core competence

Our personnel are very committed to our sustainable approach.

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Partner

Trusted partner

75% of our customers said that Insta helps them reach their own sustainability targets well or very well.

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Recycling

Efficient recycling

In 2023, our total waste volume was 24% lower than in 2022.

Sustainability

Customer stories

Responsibility

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