Solidium Oy

Overview

Solidium Oy is a Finnish state-owned investment company established in 1991, with the mission to strengthen and stabilize Finnish ownership in nationally important companies and to increase the value of its holdings over the long term. The company operates on market terms, making investment decisions solely when financial conditions are met. Solidium's portfolio includes minority stakes in twelve listed companies: Anora, Elisa, Konecranes, Metso, Nokia, Nokian Tyres, Outokumpu, Sampo, Stora Enso, Tietoevry, and Valmet. As of November 19, 2025, the total value of Solidium's investments was approximately €8.4 billion. Solidium's investment strategy focuses on companies with significant potential to develop into nationally important entities. The company aims to have a board seat in each of its portfolio companies in the long term, ensuring active ownership and influence. In spring 2025, Solidium had its own representative on the boards of nine portfolio companies. The company's vision is for its portfolio companies to outperform their peers. In 2024, Solidium sold its entire holding in Mandatum plc, approximately 33 million shares representing about 6.6% of the outstanding shares, to funds managed by Altor. This divestment was in line with Solidium's investment criteria, as Mandatum did not fulfill the requirement of national importance. The sale proceeds, approximately €131 million, were used for general corporate purposes. Solidium's financial performance for the 18-month period ending December 31, 2024, showed a net profit of €338 million and a net asset value of €6.8 billion. The company's operating expenses were €8.2 million, resulting in a management cost ratio of 0.12%. The annualized comparable management cost ratio was 0.08%.

Investment Focus

• National importance
• Financial viability

Portfolio Companies