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Nitor’s revenue increased 16th year in a row – 77% growth in Sweden last year

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June 12, 2023 · 3 min read time

The Digital Engineering Company Nitor continues steadily on the growth path amid uncertain times faced by the global ICT sector. The company increased its revenue for the 16th year in a row, reaching 36.9 million euros in 2022. International operations brought 6.3% of the revenues in 2022 (up from 4.3% in 2021). In recent years Nitor has focused on sustainable international growth, with Sweden spearheading the new markets.

The 5th year of Nitor operating in Sweden proved to be a success: 77% growth in net revenue, reaching 1.8 million euros. 

“Our team in Sweden has grown to over 20 professionals, and at the beginning of this year, we moved to our very own office in Östermalm, Stockholm. We believe that if we can provide a sustainable working life for our employees, they will also deliver a digitally and economically sustainable result for both customers and the company", says Sebastian Uramek, Managing Director of Nitor in Sweden.

New clients across regions

Nitor has expanded the customer base both in Finland and Sweden with many big companies and public organisations during the past year. The existing customers of Nitor include companies such as S Group, Posti, Finnair, Elisa, Supercell, K Group, and SL. Besides SL and Nordic customers in telecom, finance and retail, the company caters to local customers in Sweden in industrial, healthcare, media, logistics, and public sectors.

"We invest in growing our business sustainably. Our client base spans various industries and has grown even more diverse over the past years. This breadth gives us adaptability in uncertain times. Our daily work revolves around creating digital services essential to our clients' businesses. Investing in our people and organisation ensures that we can be the top choice for customers and professionals looking for long-term partnerships", says Nitor's CEO Olli Auvinen.

The positive development of Nitor's business areas continued, particularly in the area of design and strategy services. A design highlight of the year was the Finnair Inflight Entertainment & Connectivity project, which was recognized with the Red Dot Design Award.

Sowing the seeds of Sustainability

Nitor’s mission is to make digital development sustainable. 

The year 2022 has been about sowing the seeds of change by learning and setting goals but also by taking concrete steps forward. Among these are calculating the company’s carbon footprint, signing up for WWF Finland's Green Office environmental management system, doing the groundwork needed for joining the Science Based Targets initiative (SBTi), and publishing the Equality and Non-discrimination Plan for 2023–2025.

Over 50 new Nitoreans

The year 2022 brought in over 50 new Nitoreans. Recruiting-wise, the pace had not slowed down during covid’s social distancing era, but investments in extracurricular activities were limited. The year 2022 saw a true renaissance of the company culture fostering activities for which Nitor is known. 

“We put a great deal of attention and effort into our employer brand, hiring experienced professionals, and especially offering our people the best possible place to work. Instead of hiring people for a specific client project alone, we seek long-term matches who thrive in our community. In 2023, we have already hired 30 new Nitoreans and now employ more than 300 people,“ says Auvinen.

“Our industry is adapting to the new situation brought by the fast development of AI tools in expert work. Our experts have been eager to experiment with the possibilities of AI. However,  paying attention to security and privacy issues is a given as we often operate with business-critical data,” he continues.

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