The Haminan Energia Group, comprising Haminan Energia Oy, Haminan Kaukolämpö Oy and Haminan Sähköverkko Oy, is a local energy company whose business consists mainly of electricity network operations and district heating operations in the Hamina area.

Haminan Energia Oy maintains the district heating network in the region, which consists of six main production plants and two separate networks that supply about 50 GWh of energy per year to about 2 300 users in the network. Haminan Energia Group employs 23 people in Finland and will have a turnover of around €10.8 million in 2025.

In recent years, the Group has invested significantly in digitalisation and the development of operational processes. In particular, following the acquisition at the end of October 2024, the Group has sought to find digital tools and business processes that fit the new entity - one of the key tools has been Finadeck, whose implementation has further streamlined and improved the Group's financial management and management reporting approach.

Haminan Sähköverkko Oy view

Automating reporting saves time and brings accuracy

With the arrival of private equity firm Capman Infra, Haminan Energia Group wanted to automate its consolidation and reporting processes and, in particular, to streamline the ongoing development of reporting. In addition, budgeting and forecasting processes were to be improved. Previously, the consolidation and reporting process had been automated by another software, but with the new reporting requirements, the generation of the government report was still a manual and time-consuming process.

In addition, taking into account the impact of working capital depreciation, interest on loans, repayments and investments in budgets and forecasts became cumbersome, as the previous framework did not provide such comprehensive tools for fixed asset and loan management and investment planning.

"Finadeck's platform brings together all the essentials - it has been a significant improvement in our knowledge management and has enabled us to plan our finances more efficiently and proactively," says Kalevi Mattila, CEO of Haminan Energia Group.

In the picture, from left to right, Elisa Nuutinen, Customer Success Manager of Finadeck Oy and Joona Niinisaari, CFO of Haminan Energia Group.

Automatically updated reports ensure up-to-date information is shared with management and the board - without manual work

With Finadeck, Haminan Energia Oy will now report to the management and the Board of Directors on a monthly basis in an automated way not only financial key figures, but also key operational business indicators such as megawatt hours (MWh) sold. All the necessary integrations were built in a few weeks before the actual roll-out, which means that the data is automatically updated in Finadeck every time an overnight run is made.

In the context of the implementation training, the turnkey formulae and reporting templates for the key figures are easily customizable and updatable, which made the implementation easy and also made it easy to build new key figures and reports for possible future needs on your own. Automatically updated reports ensure up-to-date information for management and the board to support decision-making and eliminate the potential for manual errors in the construction of indicators and reports. Finadeck's visual reports enable a quickly assimilated snapshot of the development of the group's various companies and businesses.

Budgeting and forecasting: data-driven planning

One of Finadeck's most significant benefits for Haminan Energia has been its comprehensive and flexible budgeting and forecasting tool, which enables operational, investment and financial planning on a single platform.

Fixed asset budgeting - planning your investments

In the energy company's operations, investments in the network, production facilities and other fixed assets are significant and continuous. Finadeck offers the possibility to budget and monitor these investments in a clearly differentiated way, but at the same time as part of the overall budget. Fixed asset acquisitions, depreciation and the impact on cash flow and profit can be easily modelled and updated.

"Finadeck enables the Group to plan and simulate the impact of investments over a multi-year time horizon, supporting long-term decision-making and risk management." Kalevi Mattila, CEO of Haminan Energia Group, sums up.

View of Haminan Energia Oy

Loan management and financial planning - more predictability and transparency

The group's financial structure, existing loans and new financing needs can be accurately modelled and budgeted in Finadeck. Interest costs, amortisation costs and new financing arrangements are included in the forecasts and cash flow calculations, which significantly improves the group's financial planning ability.

"Financial management can create scenarios, for example on changes in interest rates or the timing of investments, and assess their impact on the financial position of the group as a whole." Joona Niinisaari, CFO of Haminan Energia Group, sums up.

In the photo, from left to right, Joona Niinisaari, CFO of Haminan Energia Group and Saku Pöllänen, CEO of Finadeck, at Haminan Energia Oy's solid fuel heating plant in Satamatie.

Smooth group accounting and financial statements

With Finadeck, the elimination, consolidation and preparation of consolidated financial statements of intra-group transactions are centralised and reliable. This reduces the risk of errors and significantly speeds up the financial reporting process.

Turnkey set-up: quick, smooth and ready to use

The implementation of Finadeck was carried out on a turnkey basis, where the system was pre-built based on Haminan Energia's processes and needs:

• The accounts of intra-group transactions were listed in order to set them up for elimination in Finadeck and the necessary elimination documentation was entered into Finadeck by Azets, the Haminan Energia Group's accounting partner.

• Management and board reports and financial and operational indicators were defined and created during the implementation training

• Budgeting and forecasting processes were modelled according to the structure and governance needs of the Group

• Fixed assets and loans data were imported into the system using input templates without manual work

• The implementation training provided the organisation with the knowledge and skills to build reporting on its own in the future (KPIs, report frames, etc.)

"The ease of implementation was a positive surprise - we had concrete reports, ready-made budget sheets and all the necessary information from day one. We were able to focus on the essentials straight away." Joona Niinisaari, CFO of Haminan Energia Group, sums up, when asked about the benefits of the implementation training.

Results: more time for analysis, better decision-making

With Finadeck, the Haminan Energia Group has gained a tighter grip on its financial management. Fixed asset and loan budgeting, operational reporting and group-level consolidation are now all in one tool - visually, transparently and up-to-date.

"Finadeck has enabled us to integrate our investment and financing processes into our financial planning. We can look at the big picture from a single view and make informed decisions faster." Joona Niinisaari, CFO of Haminan Energia Group, says.