VTT’s year 2024 was a successful one: it exceeded its commercial sales targets despite the challenging economic situation, the defense industry opened new opportunities for VTT, and many VTT-based companies succeeded.

VTT is one of the most reputable public administration organizations, and customers quickly utilize the results of a project with tehm. This strengthens VTT’s role as a lever for sustainable economic growth in Finland.

VTT strives for impact by strengthening customers’ ability to create and scale new innovations and grow their business and international networks. The impact of VTT’s operations is reflected in its customer satisfaction: the already high overall score for the implementation of a project rose to 4.4 (scale 1–5, 2023: 4.3) and the Net Promoter Score (NPS) rose to an excellent score of 80 (scale -100–100, 2023: 75).

In 2024, the sales of VTT’s commercial operations increased from the previous year (2024: €76.6 million, 2023: €73.8 million), and VTT exceeded its sales targets despite the changed operating environment.

Since Finland joined NATO, the rapid development of civilian technologies has changed the technological development of the defenze sector and opened new opportunities not only for Finland but also for VTT.

“VTT’s year went well considering the circumstances. The Finnish Government has continued its investments in RDI activities, and NATO membership has opened new research and cooperation networks for VTT. VTT’s most significant impact comes from our customers utilizing our research and the technologies we have developed to build sustainable growth. VTT’s key goal is to create sustainable growth for Finland and companies. It is entirely possible for Finland to return to the path of rapid economic growth, and VTT offers the best resources and networks in the country to support companies’ innovation activities,” says Antti Vasara, president and CEO of VTT.

The parent company’s net sales increased and IPR revenues reached record levels
VTT’s parent company’s net turnover in 2024 were €190 million (2023: €188 million), of which €121 million was generated from strategic research (2023: €118 million) and €69 million from commercial research conducted directly for companies (2023: €70 million). The parent company received €107 million (2023: €97 million) other operating income, of which €95 million (2023: € 89 million) as government grants. The parent company’s profit for the financial year was €2.8 million (2023: €2.5 million).

Three new spin-off companies emerged through the VTT LaunchPad business incubator: Arctic Instruments, Happy Plant Protein and Flow Computing. Total of all in-kind investments was €8.3 million.

The number of VTT’s scientific articles reached a record high in 2024: VTT published a total of 598 scientific articles, 84% of which were published openly. The number of articles published in top scientific journals also rose to a new record, accounting for 44% of all published peer-reviewed articles.

“VTTers consider their work meaningful and interesting, and they feel valued. Our personnel are proud of VTT as an employer and see our reputation as good. During the year, we recruited about 260 new VTTers, and we already have representatives of 60 different nationalities among us. All about 2,400 VTT employees have worked long-term, productively throughout the year, and in addition to our customers and partners, thanks for a successful year are due to them,” Vasara says.