Finland’s retail sector turnover and profitability improved in 2010

Turnover in the wholesale trade increased by 8.9% and car sales enjoyed the biggest increase in profitability.

The total turnover in Finland’s retail trade was EUR 115.5 billion in 2010, representing a 6.5% increase compared to the year before, according to preliminary figures by Statistics Finland. Wholesale trade made up 55% of the total turnover, retail trade 31% and car sales 13%.

Wholesale trade turnover increased by 8.9%, retail trade turnover by 2.1% and car sales by 7.6% in 2010 compared to the year before. In 2010, profitability improved both in absolute terms and as a percentage of the previous year’s result. In 2010 the gross margin on sales was EUR 26.1 billion, representing 22.6% of the total turnover. Small and medium sized companies made up 37% of the total turnover and 51% of the sales margin.

Car sales enjoyed the biggest improvement in profitability with a 1.5% increase on the year before. The gross sales margin in car sales totalled EUR 3.1 billion which was 20.2% of the turnover. In the wholesale trade the operating margin was 3.3% of the business income and in the retail trade 3.9%.

Source: Statistics Finland