Published 4.6.2025

Loviisan Lämpö Oy is a local energy company that provides responsible and customer-oriented district heating solutions in the Loviisa, Pukkila, Pornainen, Lappohja and Pyhtää areas. The company operates six district heating networks with a total of seven main production plants and two reserve production plants. The total number of district heating customers is around four hundred. The Loviisan Lämpö Group also includes the parent company Loviisan Lämpöholding Oy and the subsidiary Heatly Oy, a company focused on the ownership of heating plants. Heatly's main product is the geothermal heating as a service concept, and in total Heatly has around 140 geothermal heating plants at its customers' disposal throughout Finland.

Loviisa Lämpö Group employs 5 people full-time and its turnover in 2024 was EUR 8.5 million. The annual energy production is around 100 GWh and the group is part of the portfolio of infrastructure investor CapMan Infra.

In recent years, the Loviisa Lämpö Group has invested heavily in the use of digital tools and the modernisation of processes - especially in the area of financial management and management reporting. This need was met by implementing Finadeck's state-of-the-art software for consolidation, reporting, budgeting and forecasting.

Reporting software that brings accuracy and saves time

The Loviisa Lämpö Group wanted to modernise its group accounting processes and improve the efficiency of management reporting. The previous process involved a lot of manual work. As the reporting requirements of the company and the private equity firm Capman Infra increased, it was clear that a more modern solution was needed. Finadeck's reporting software enabled the group to have automated and visual reports that are automatically updated and distributed to management and the board via email - without any additional manual work.

Observation photo of the Loviisan Lämpö Oy's Urakoitsijantien chipping plant

Fixed asset management and investment planning in one tool

As an energy company, Loviisa Lämpö is constantly making significant investments in networks and equipment. With Finadeck, fixed asset management is now streamlined: investment planning, fixed asset acquisitions, depreciation and cash flow impacts can be modelled and budgeted in a single tool - as part of comprehensive financial planning.

"Finadeck gives us an accurate view of the long-term impact of our investments and supports our risk management effectively." Juha Vesikansa, Business Controller of Loviisa Lämmön, sums up.

"It was nice to see that Finadeck listened to our needs and was willing to prove the benefits of the software for consolidation already during the test period"

In the photo from left to right Finadeck Oy's Customer Success Manager Elisa Nuutinen, Sales Manager Toni Miettinen and Loviisan Lämpö Oy's Managing Director Mikko Paajanen and Business Controller Juha Vesikansa at Loviisan Lämpö Oy's Lovali heat pump plant.

Software for budgeting and forecasting - all in one system

Finadeck's budgeting and forecasting functions enable the Loviisa Lämpö Group to plan its finances taking into account the entire business: operational budgeting, forecasting and cash flow management. Loan interest costs, repayments and new financing solutions required are easily incorporated into forecasts and cash flow calculations.

"Finadeck's software allows us to model different scenarios and assess their impact on the group's finances - bringing certainty and predictability to decision-making." Juha Vesikansa, Business Controller of Loviisan Lämpö Oy, says.

Loviisan Lämpö Oy's Urakoitsijantien chipping plant

Easy and reliable group accounting

Finadeck's group accounting software automates the elimination of intra-group transactions, consolidation and preparation of consolidated financial statements. This speeds up the financial reporting process and significantly reduces the risk of errors. In addition, Finadeck facilitates the work of the group accountant and auditor by centralising all data in a single software package, making it easy to check the elimination of intercompany transactions and the vouchers entered into the elimination company.

Turnkey set-up - quick and easy

The implementation of Finadeck was carried out on a turnkey basis for Loviisa Lämmö. All necessary integrations and platforms were built to meet the needs of the group:

• The requirements and internal transactions of the consolidated financial statements were modelled as automatic eliminations and the necessary elimination tools were entered into the elimination environment
• Financial and operational indicators and management reporting perspectives were completed
• Fixed asset management and loan data were automatically imported using entry templates
• Budgeting and forecasting models tailored to the structure of the Group
• Deployment training provided the organisation with the knowledge and skills to build reporting on its own in the future (KPIs, report frames, etc.)

"We immediately had ready-to-use report templates, budgeting tools and with the integration, all the necessary data, including historical data, was easily transferred to Finadeck - the implementation was quick and without surprises." Mikko Paajanen, CEO of Loviisan Lämpö Oy and Juha Vesikansa, Business Controller of Loviisa Lämpö Oy.

Results: better financial management and faster decision-making

Since the implementation of Finadeck, the Loviisa Lämpö Group has gained a clearer grip on financial management. Fixed asset management, budgeting, reporting and group accounting are now centralised in a single, visual and real-time system.

"One platform that brings together all the essentials - that has been a crucial improvement for us. Finadeck has enabled efficient and proactive financial planning." Mikko Paajanen, Managing Director of Loviisa Lämpö Oy, and Juha Vesikansa, Business Controller, summarise.

In the picture from left to right Finadeck Oy's Sales Manager Toni Miettinen and Customer Success Manager Elisa Nuutinen and Loviisan Lämpö Oy's Managing Director Mikko Paajanen and Business Controller Juha Vesikansa at Loviisan Lämpö Oy's Urakoitsijantien chipping plant.

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