Millog Oy
OYActiveY-tunnus 2051859-5Hatanpään Valtatie 30, 33100 TampereEngineering activities and related technical consultancy· NACE 7112Est. 2006 · 20 years old510 employeeshttps://www.millog.fi
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Overview
Millog Oy is a Finnish OY based in Tampere, operating in the Engineering activities and related technical consultancy sector. Incorporated in 2006, the company has 510 employees and reported revenue of €264.1m in its latest annual filing.
Revenue 2025
264.1M EUR
+6% vs 2024
EBITDA margin
7.2 %
+1% vs 2024
Net profit 2025
30.7M EUR
+68% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
57.8 %
AverageAround the average of companies in the same industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
1.7×
WeakAmong the 40% lowest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
21.4 %
StrongAmong the 30% highest rated companies in the industry
20212025
EBITDA — year on year
EUR millionsKey figures
Annual report 2025| Revenue | 264.1M EUR | +6% |
| EBITDA | 19.1M EUR | +1% |
| Net profit | 30.7M EUR | +68% |
| Total assets | 143.4M EUR | +9% |
| Equity | 83M EUR | +18% |
| Employees | 510 | — |
Company information
Legal name
Millog Oy
Y-tunnus number
2051859-5
Legal form
Osakeyhtiö
NACE code
Founded
8 August 2006 · 20 years
Share capital
EUR 720,001
Employees
510 (FTE)
VAT registered
No
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Hallituksen jäsen ja toimitusjohtaja yhdessä sekä hallituksen jäsenet kaksi yhdessä
Company purpose
Yhtiön toimialana on ajoneuvojen, aseiden ja asejärjestelmien sekä sähköisten ja elektronisten järjestelmien suunnittelu, tuotanto, modifiointi ja myynti sekä muut näihin liittyvät palvelut ja toiminnot kuten konsultointi, huolto, korjaus sekä ylläpito. Yhtiö voi toimintaansa varten omistaa ja hallita arvopapereita, osakkeita ja kiinteistöjä.
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Contact
Address
Hatanpään Valtatie 30, 33100 Tampere
Phone
+3580204697000
Email
info@millog.fi
Website
https://www.millog.fi
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Financial development
In its most recent annual report (2025), Millog Oy reported revenue of €264.1m, an increase of 6% on the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net profit of €30.7m, and the EBITDA margin stood at 7.2%.
At the end of 2025, equity financed 57.8% of the balance sheet, and current assets covered short-term debt 1.7 times.
Financials
Revenue
EUR millionsEBITDA
EUR millionsIncome statement
EUR thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 264,096 | 248,734 | 238,372 | 233,705 | 217,305 |
| Staff expenses | -69,730 | -68,106 | -67,427 | -64,048 | -61,597 |
| EBITDA | 19,103 | 18,944 | 18,184 | 19,777 | 21,718 |
| Depreciation & amort. | -3,328 | -2,950 | -3,192 | -3,552 | -3,769 |
| EBIT | 15,775 | 15,994 | 14,992 | 16,225 | 17,950 |
| Net financials | 18,606 | 6,149 | 5,650 | 4,084 | 3,162 |
| Profit before tax | 33,823 | 21,490 | 20,471 | 19,926 | 20,742 |
| Tax | 3,129 | 3,230 | 2,794 | 3,191 | 3,717 |
| Net profit | 30,694 | 18,259 | 17,677 | 16,735 | 17,026 |
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Balance sheet
EUR thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 143,417 | 132,126 | 136,097 | 157,612 | 149,653 |
| Equity | 82,955 | 70,532 | 69,932 | 68,525 | 63,534 |
| Long-term debt | 0 | 2,510,657 | 0 | 21,766 | 22,701 |
| Short-term debt | 53,976 | 55,606 | 60,291 | 63,205 | 59,273 |
| Total debt | 53,976 | 55,606 | 60,291 | 89,088 | 86,119 |
Financial ratios
5-year trendEBITDA margin
7.2 %
20212025
Equity ratio
57.8 %
AverageAround the average of companies in the same industry
20212025
Return on equity
37.0 %
StrongAmong the 30% highest rated companies in the industry
20212025
Net profit margin
11.6 %
StrongAmong the 40% highest rated companies in the industry
20212025
Asset turnover
1.84×
StrongAmong the 40% highest rated companies in the industry
20212025
Debt / equity
0.73×
AverageAround the average of companies in the same industry
20212025
Sector performance
28 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginVery weak
Among the 20% lowest rated companies in the industry
The gross result as a share of revenue — how much of the revenue is left after variable costs to cover the company's fixed costs.
Operating marginAverage
Around the average of companies in the same industry
EBIT as a share of revenue — the share of revenue remaining as earnings once all operating costs are covered. A key measure of earning power.
Net profit marginStrong
Among the 40% highest rated companies in the industry
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Return on equity (ROE)Strong
Among the 30% highest rated companies in the industry
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on assets (ROA)Strong
Among the 30% highest rated companies in the industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Return on net assets (RONA)Strong
Among the 30% highest rated companies in the industry
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Basic earning power (BEP)Average
Around the average of companies in the same industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioAverage
Around the average of companies in the same industry
Shows how strongly fixed costs weigh on the gross result — a high ratio means fixed costs take only a small bite out of the earnings from basic operations.
Liquidity
Current ratioWeak
Among the 40% lowest rated companies in the industry
Current assets relative to short-term debt — the ability to settle short-term obligations with current assets alone. Around 150% is considered satisfactory from a credit perspective.
Quick ratioWeak
Among the 40% lowest rated companies in the industry
Current assets excluding inventory relative to short-term debt — whether the most liquid assets alone can cover the short-term obligations. A value of 1 or above signals a healthy liquidity position.
Cash ratioVery weak
Among the 10% lowest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityAverage
Around the average of companies in the same industry
Current assets relative to equity — an indicator of the balance-sheet structure and of the company's short- and long-term financing. The healthy level is highly industry-dependent.
Fixed assets to long-term capitalWeak
Among the 40% lowest rated companies in the industry
Fixed assets relative to long-term capital (equity plus long-term liabilities). Below 100% means the long-term capital finances more than just the fixed assets — a healthier liquidity position.
Cash conversion ratioVery weak
Among the 20% lowest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioAverage
Around the average of companies in the same industry
Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.
Debt ratioAverage
Around the average of companies in the same industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Debt to equityAverage
Around the average of companies in the same industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityWeak
Among the 40% lowest rated companies in the industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtStrong
Among the 40% highest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtAverage
Around the average of companies in the same industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageVery strong
Among the 20% highest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtAverage
Around the average of companies in the same industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginStrong
Among the 30% highest rated companies in the industry
The return on assets minus the interest rate on debt. Positive means the company benefits from operating with debt; negative means the debt makes it worse off.
Efficiency & development
Asset turnoverStrong
Among the 40% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverWeak
Among the 40% lowest rated companies in the industry
Revenue relative to inventory — how many times a year the inventory is sold and replaced. A low value can indicate weak sales or excess inventory.
Equity to contributed capitalVery strong
Among the 20% highest rated companies in the industry
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
One-year change in equityStrong
Among the 30% highest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtAverage
Around the average of companies in the same industry
The size of this year's increase or decrease in the company's debt.
Annual reports & filings
- Annual report 2025Filed via PRH / YTJ · Period 2025-01-01 – 2025-12-31
- Annual report 2024Filed via PRH / YTJ · Period 2024-01-01 – 2024-12-31
- Annual report 2023Filed via PRH / YTJ · Period 2023-01-01 – 2023-12-31
- Annual report 2022Filed via PRH / YTJ · Period 2022-01-01 – 2022-12-31
- Annual report 2021Filed via PRH / YTJ · Period 2021-01-01 – 2021-12-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (17) | ||
TP Person with significant control | Person with significant control | 2018 |
KK Person with significant control | Person with significant control | 2018 |
KH Deputy Member | Deputy Member | 2022 |
SP Person with significant control | Person with significant control | 2023 |
TK Person with significant control | Person with significant control | 2022 |
LE Person with significant control | Person with significant control | 2020 |
KJ Deputy Member | Deputy Member | 2025 |
EJ Person with significant control | Person with significant control | 2024 |
RJ Person with significant control | Person with significant control | 2018 |
MJ Person with significant control | Person with significant control | 2023 |
TJ Person with significant control | Person with significant control | 2018 |
MI Person with significant control | Person with significant control | 2018 |
MJ Deputy Member | Deputy Member | 2025 |
RK Person with significant control | Person with significant control | 2018 |
OM Deputy Member | Deputy Member | 2025 |
JP Chief Executive Officer | Chief Executive Officer | 2024 |
JE Person with significant control | Person with significant control | 2025 |
Former (20)
HK Person with significant control | Person with significant control | 2018 – 2020 |
JE Person with significant control | Person with significant control | 2018 – 2019 |
JH | Audit | 2014 – 2019 |
MJ Deputy Member | Deputy Member | 2021 – 2025 |
SM Chief Executive Officer | Chief Executive Officer | 2017 – 2023 |
VS Deputy Member | Deputy Member | 2020 – 2022 |
KM Person with significant control | Person with significant control | 2018 – 2019 |
AA Deputy Member | Deputy Member | 2018 – 2021 |
TT Person with significant control | Person with significant control | 2019 – 2024 |
VP Person with significant control | Person with significant control | 2018 – 2025 |
JM Deputy Member | Deputy Member | 2019 – 2025 |
KM Person with significant control | Person with significant control | 2022 – 2024 |
JT Audit | Audit | 2019 – 2023 |
HI Person with significant control | Person with significant control | 2018 – 2020 |
PJ Deputy Member | Deputy Member | 2018 – 2025 |
MJ Deputy Member | Deputy Member | 2019 – 2019 |
SP Deputy Member | Deputy Member | 2018 – 2020 |
MK Person with significant control | Person with significant control | 2020 – 2022 |
VK Person with significant control | Person with significant control | 2018 – 2022 |
VK Person with significant control | Person with significant control | 2018 – 2023 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (4) | ||
PH Chairperson | Chairperson | 2026 |
TT Board of Directors | Board of Directors | 2020 |
TJ Board of Directors | Board of Directors | 2023 |
JE Board of Directors | Board of Directors | 2024 |
Former (7)
OP Chairperson | Chairperson | 2018 – 2019 |
VP Board of Directors | Board of Directors | 2019 – 2024 |
JM Board of Directors | Board of Directors | 2019 – 2019 |
JS Board of Directors | Board of Directors | 2018 – 2020 |
MR Board of Directors | Board of Directors | 2022 – 2023 |
HA Board of Directors | Board of Directors | 2018 – 2022 |
EH Chairperson | Chairperson | 2019 – 2026 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 61.8% | 61.8% | 2023 |
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Company hierarchy
Patria Oyj
Millog Oy Board network connections
Board members of Millog Oy also hold positions in 148 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Markus Rainer Mattsson | Board of Directors | 18 companiesMany roles |
| Hanna Katriina Kyrki | Person with significant control | 10 companiesMany roles |
| Olli Matias Valtonen | Deputy Member | 10 companiesMany roles |
| Panu Henrik Routila | Chairperson | 10 companiesMany roles |
| Terho Juhani Tiilikainen | Person with significant control | 9 companiesMany roles |
| Marjut Johanna Porkka | Deputy Member | 9 companiesMany roles |
| Henry Arvo Nieminen | Board of Directors | 9 companiesMany roles |
| Jussi Eemeli Hynninen | Person with significant control | 7 companiesMany roles |
| Sami Mikael Pitkänen | Chief Executive Officer | 6 companiesMany roles |
| Toni Kalevi Piispa | Person with significant control | 5 companies |
| Laura Emilia Kourula-Luoma | Person with significant control | 5 companies |
| Manu Kalevi Skyttä | Person with significant control | 5 companies |
| Tapio Juhani Kolunsarka | Board of Directors | 5 companies |
| Ville Petteri Jaakonsalo | Person with significant control | 4 companies |
| Heikki Ilpo Härtsiä | Person with significant control | 4 companies |
| Janne Petteri Tarvainen | Chief Executive Officer | 4 companies |
| Tiina Tuulikki Lehto | Person with significant control | 3 companies |
| Jukka Tapio Karinen | Audit | 3 companies |
| Olli Pekka Isotalo | Chairperson | 3 companies |
| Esa Heikki Elias Rautalinko | Chairperson | 3 companies |
| Jukka Markus Holkeri | Deputy Member | 2 companies |
| Veli-Matti Kohtamäki | Person with significant control | 2 companies |
| Timo Tapani Rotonen | Board of Directors | 2 companies |
| Juha Sakari Rannikko | Board of Directors | 2 companies |
| Mari Johanna Mäki | Deputy Member | 1 company |
| Kari Juhani Renko | Deputy Member | 1 company |
| Rami Jukka-Pekka Harmaala | Person with significant control | 1 company |
| Asko Antero Järvenpää | Deputy Member | 1 company |
| Marko Juhani Kinnunen | Person with significant control | 1 company |
| Krister Mikael Sällinen | Person with significant control | 1 company |
| Martti Jorma Antero Wallin | Deputy Member | 1 company |
| Sanna Pauliina Poutiainen | Deputy Member | 1 company |
Frequently asked questions
What is the Y-tunnus number of Millog Oy?
Millog Oy is registered with PRH / YTJ under Y-tunnus 2051859-5.
What is the revenue of Millog Oy?
Millog Oy reported revenue of €264.1m in 2025.
How many employees does Millog Oy have?
Millog Oy employs 510 people as of the latest annual report.
Who is the CEO of Millog Oy?
Janne Petteri Tarvainen is the CEO of Millog Oy, in role since 2024.
Who is the chairman of Millog Oy?
Panu Henrik Routila chairs the board of Millog Oy, in role since 2026.
Where is Millog Oy headquartered?
Millog Oy's registered address is Hatanpään Valtatie 30.