Haminan Energia streamlines budgeting, reporting and group accounting with Finadeck

Haminan Energia Group, which includes Haminan Energia Oy, Haminan Kaukolämpö Oy and Haminan Sähköverkko Oy, is a local energy company whose business primarily consists of electricity grid operations and district heating operations in the Hamina area.

Haminan Energia Oy maintains the area's district heating network, which has six main production facilities and two separate networks that supply approximately 50 GWh of energy annually to around 2,300 users connected to the network. Haminan Energia Group employs 23 people in Finland and revenue in 2025 will be approximately 10.8 million euros.

In recent years, the group has invested significantly in digitalization and development of operational processes. Especially following the corporate acquisition in late October 2024, the group has sought to find digital tools and operating processes suitable for the new corporate entity, Finadeck has been a key tool in this, whose implementation has streamlined and optimized the group's financial management and management reporting practices.

Automating reporting saves time and brings accuracy

With the involvement of private equity company Capman Infra, Haminan Energia Group wanted to automate its consolidation and reporting processes and especially streamline the continuous development of reporting. Additionally, budgeting and forecasting processes were to be improved. Previously, the consolidation and reporting process had been automated with another software, but with new reporting requirements, creating board reports was still a manual and time-consuming process.

Furthermore, accounting for the impact of fixed asset depreciation, loan interest, installments and investments in budgets and forecasts became laborious, as the previous software did not have comprehensive tools for fixed asset and loan management or investment planning.

Automatically updated reports ensure timely information sharing with management and board, without manual work

With Finadeck, Haminan Energia Oy now reports monthly to management and the board not only financial KPIs, but in the future also key operational metrics such as megawatt hours (MWh) sold. All necessary integrations were built within a few weeks before the actual implementation, after which data updates to Finadeck automatically during the overnight run. The KPI calculation formulas and reporting templates built on a turnkey basis during the implementation training are easily customizable and updatable, making the implementation smooth and also enabling self-service building of new KPIs and reports for possible future needs. Automatically updated reports ensure management and board have timely information for decision-making and eliminate the possibility of manual errors in building KPIs and reports. Finadeck's visual reports enable a quickly digestible overview of the development of the group's various companies and business units.

Budgeting and forecasting: data-driven planning

One of the most significant benefits of Finadeck for Haminan Energia has been its comprehensive and flexible budgeting and forecasting tool, which enables planning of operations, investments and financing on a single platform.

Fixed asset budgeting: planning for investments

In an energy company's operations, investments in networks, production facilities and other fixed assets are significant and ongoing. Finadeck provides the ability to budget and track these investments clearly separated, but at the same time as part of the overall budget. Fixed asset acquisitions, depreciation and impacts on cash flow and profit are easily modeled and updated.

Loan management and financing planning, predictability and transparency

The group's financing structure, existing loans and new financing needs can be accurately modeled and budgeted in Finadeck. Loan interest costs, repayment schedules and new financing arrangements are included in forecasts and cash flow statements, significantly improving the group's financial planning capability.

Group accounting and financial statements smoothly

With Finadeck, elimination of intercompany transactions, consolidation and preparation of consolidated financial statements happen centrally and reliably. This reduces the risk of errors and significantly speeds up the financial statement process.

Turnkey implementation: fast, smooth and ready to use

Finadeck implementation was carried out on a turnkey basis, where the system was built ready based on specifications derived from Haminan Energia's processes and needs:

• Intercompany transaction accounts were listed to set them up for elimination in Finadeck and the necessary elimination entries were entered into Finadeck by Haminan Energia Group's accounting partner Azets
• Management and board reports as well as financial and operational KPIs were defined and created during the implementation training
• Budgeting and forecasting processes were modeled according to the group's structure and management needs
• Fixed asset and loan data were imported into the system using import templates without manual work
• Implementation training gave the organization the competence and capabilities to build reporting independently in the future (KPIs, report structures etc.)

Results: more time for analysis, better decision-making

With Finadeck, Haminan Energia Group has gained a tighter grip on financial management. Fixed asset and loan budgeting, operational reporting and group-level consolidation are now in the same tool, visually, transparently and in real-time.