Algol Group continues tradition: Christmas donations to Finnish and global causes

As in previous years, Algol Group is donating to both Finnish and international organisations instead of sending Christmas cards and gifts. Again, the support extends to both humanitarian and environmental causes.

In 2024, the following organisations are receiving Christmas donations from the Algol Group:

CEO Alexander Bargum notes that the selection of donation recipients aims to balance support between large and small organisations, as well as between Finnish and international activities. He adds that Algol strives to provide long-term support to these organisations in their valuable work.

Additionally, in 2024, Algol has donated €40,000 to UNICEF and the Finnish Red Cross to assist victims of the war in Ukraine, with each organisation receiving €20,000. Throughout the year, the company has also supported other non-profit causes with smaller contributions.

We are attending the IAP’s autumn meeting in Kuopio

We will participate in the autumn meeting of the Finnish Division of the IAP in Kuopio on November 14–15, 2024, at the Scandic Kuopio Hotel. The topics will cover liver, biliary, and pancreatic pathology as well as endocrine pathology.

Welcome to discuss current diagnostic issues with us!

Fimlab enhances diagnostics: New AS-410M auto slide preparation system implemented as the first of its kind in Finland

Fimlab has become the first clinical pathology laboratory in Finland to implement the new AS-410M auto slide preparation system. Installed in September, the device is now fully operational both day and night as part of the laboratory’s routine activities following a brief setup period. The AS-410M is designed to improve workflow in pathology laboratories and ensure high-quality sample preparation through automation.

The robotic microtome, integrated with the patient information system, uses a barcode-based identification system that minimizes tracking errors. Additionally, a CCD camera monitors the uniformity and alignment of sections on slides, ensuring consistent quality. These features significantly reduce the need for manual sample handling, accelerate the process, and enhance quality assurance.

“This investment supports our customer Fimlab’s goal to deliver even more accurate and faster diagnostics while streamlining laboratory workflow to meet high-quality standards,” says Jukka Puomio, Sales Manager at Algol Diagnostics.

The new Idylla™ ThyroidPrint® test is now available

The Idylla™ ThyroidPrint® test, developed by GeneproDX, evaluates the gene expression profile of a fine needle aspiration (FNA) sample, enabling laboratory assessment of the risk classification for indeterminate thyroid nodules (Bethesda III-IV). This test helps avoid unnecessary thyroid surgeries and reduces healthcare costs.

Benefits of the Idylla ThyroidPrint test:

● The test is performed using an FNA sample.
● Can be conducted locally in your own laboratory.
● Thanks to a fully automated protocol, the turnaround time for the test is approximately 3 hours.
● The test measures the expression of 10 genes.
● The test helps identify nodules with a low cancer risk, with an NPV value of 95%.

Thyroidprint leaflet

Read more about the product

Sustainability Report 2023: We promoted sustainability comprehensively

The Algol Group Sustainability Report 2023 has been published. In the report, we present a summary of the actions and results of 2023, as well as our short-term sustainability goals. The Group is reporting on its sustainability for the second time, and the report focuses on companies wholly owned by Algol.

“Compiling the Sustainability Report also helps us to view our operations from partly new perspectives, which in turn helps us to develop. Sustainable operations are often also more efficient, stable and safe. At the same time, sustainability creates opportunities and points the way towards future growth”, says Alexander Bargum, CEO of the Algol Group.

Algol’s sustainability highlights in 2023 :

– Information security attendance rate among employees: 96.5% (2022: 45.8%)
– Double materiality analysis conducted in Algol Chemicals highlighting climate and safety themes
– Supplier Code of Business Conduct signature rate: 77.6% (2022: 72.1%)
– Review and target setting discussions: 94.2% (2022: 92.9%)
– Recycled waste: 55.97% (2022: 49.52)
– Safety observations: 2262 (target: 1460)

Read our Sustainability Report

Further information:

Tor Edgren, Sustainability Manager, +358 50 525 7625, tor.edgren@algol.fi
Tuulikki Suihkonen, Communications Manager, +358 50 346 7248, tuulikki.suihkonen@algol.fi

 

Algol in brief

Algol is a family-owned business and multi-branch group with more than 130 years of experience in international trade. Our subsidiaries import, market and manufacture products for industry and the healthcare sector. In addition, Algol Group companies offer services related to their business areas, such as design services, tailored delivery solutions, and installation, maintenance and training services. We are building a successful and sustainable future for our partners. Algol employs nearly 500 experts in ten different countries.

Algol Group continued to improve results in 2023

The Algol Group’s business continued to develop favourably in 2023. Although consolidated net sales decreased to EUR 208 million, mainly due to declining raw material prices, the operating profit increased to EUR 12.3 million and all Group companies surpassed their budgeted target. Overall, demand continued to be normal, but the economic outlook weakened somewhat towards the end of the year.

2023 2022 2021
Net sales, M€ 208 233 181
EBITDA, M€ 13.8 14.1 9.4
EBIT, M€ 12.3 11.7 6.7
Result after taxes, M€ 8.8 7.8 5.5
ROE, % 26 27 22
Solidity, % 44.7 36 37.5
Net debt, M€ Net debt free Net debt free 4.4
Number of personnel on average 465 476 463

Outlook for the current year continues to be stable

The current year still looks stable for Algol. The slowdown in industrial investments will impact sales in some segments, and the economic outlook is weaker than usual. However, Algol Group companies operate in many different sectors and regions, which provides stability also in times of uncertainty. According to our forecast, the result at the Group level will weaken in 2024 compared to the previous two years, but the growth trend will nevertheless remain quite satisfactory. We continue to aim for moderate growth, continuous improvement in our results and strengthening our balance sheet.

More information
Alexander Bargum, CEO, Algol Group, tel. +358 40 732 3232.

 

Algol in brief
Algol is a family-owned business and multi-branch group with more than 130 years of experience in international trade. Our subsidiaries import, market and manufacture products for industry and the healthcare sector. In addition, Algol Group companies offer services related to their business areas, such as design services, tailored delivery solutions, and installation, maintenance and training services. We are building a successful and sustainable future for our partners. Algol employs nearly 500 experts in ten different countries. www.algol.fi/en

New! CellPath’s System II+ 2 Well and 4 Well Cassettes are now available

CellPath’s new System II+ 2 Well and 4 Well Cassettes incorporate multiple wells into the cassette allowing multiple biopsies to be processed simultaneously, significantly reducing user workload. It also negates the need to use tissue wrap or biopsy bags, making it easier to handle biopsies and reducing the risk of potential core fragmentation. Each well within the cassette is numbered to aid identification of the specific biopsy.

The System II+ 2 Well and 4 Well cassettes  have been validated for use with the Leica IPC, Sakura AutoWrite, Sakura SmartWrite and Primera Signature printers. Choose from a wide range of colors that not only enhance contrast for text and barcodes but also improve scannability and read rates. All versions are supplied loose, threaded or hoppered giving customers a wide choice of options depending on their requirements. Contact us for more information on pricing, models, and availability.

More information & orders

Jukka Puomio, jukka.puomio@algol.fi, tel. +358 50 566 4939

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Algol Group makes traditional Christmas donations to Finnish and global causes

As in previous years, the Algol Group is donating to Finnish and global causes this Christmas instead of sending out cards and gifts.

This year, donations are being made to the following causes:

According to Algol Group CEO Alexander Bargum, a suitable balance between Finnish and international causes, has been sought. In addition to the multi-year donation recipients, this year, a new beneficiary of the donation is UNICEF. Furthermore, the amount donated to the Crisis Management Initiative (CMI) has been increased this year in honor of CMI’s founder and former president Martti Ahtisaari.

This year, Algol has also donated 10,000 euros to the Finnish Red Cross Hunger Day collection and 30,000 euros to humanitarian relief in Ukraine. Half of the amount was donated to UNICEF’s Ukraine Fund and half to the Disaster Relief Fund of the Finnish Red Cross.

More information

Alexander Bargum, CEO, Algol Group, tel. +358 40 732 3232.

Algol in brief

Algol is a Finnish multi-branch company specialising in international trade. We have been operating responsibly with an international network of partners for more than 129 years. Our solutions improve the quality of industrial production and ensure smooth operations. In the healthcare sector Algol’s solutions promote the conditions for healthy living.

The Algol Group had net sales of 233 million euros in 2022. We employ almost 500 professionals in ten countries.

Algol Diagnostics is participating in the IAP biannual meeting

We are participating in the fall meeting organized by the Finnish division of the International Academy of Pathology (IAP) in Tampere on November 9-10, 2023.

The topic of the meeting is dermatopathology.

See you at Tampere-talo.

Read More

iap.yhdistysavain.fi
www.iapcentral.org

New Idylla™ IDH1-2 Mutation Assay Kit available now

Idylla™ IDH1-2 Mutation Assay Kit (RUO) is now available through us. The Idylla™ IDH1-2 Mutation Assay Kit (RUO) detects mutations in the isocitrate dehydrogenase 1 (IDH1) and 2 (IDH2) genes, which are oncogenic drivers that are frequently found in a variety of human malignancies, including gliomas, acute myeloid leukemia, cholangiocarcinoma, chondrosarcoma and thyroid carcinoma².

More information on Biocartis website: Idylla™ IDH1-2 Mutation Assay Kit (RUO 

More information & orders

Miika Palviainen, Product Manager, tel. +358 50 587 5030, miika.palviainen@algol.fi

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