The finances of the background organizations of the Miss Finland competition are in bad shape. Missiemo Sunneva Sjögren assures that the finances of the competition are, however, on a stable basis.
The companies behind the Miss Suomi competition and More Than Beauty Academy are in financial difficulties, according to the financial statements of the companies. The competition is organized by Finnartist Oy, whose operation has been loss-making for the past four years.
Finnartist Oy’s turnover was halved during the last two financial periods and dropped by as much as 45 percent. Finnartist Oy’s turnover at the end of 2024 was 139,000 euros, while a year earlier, in 2023, it was 252,000 euros.
However, it is alarming that Finnartist Oy’s equity ratio fell from 36 percent to 2 percent in the last fiscal year. The level of equity ratio predicts, among other things, the risk of bankruptcy.
Sarah Dzafce was chosen as Miss Finland 2025. Timur Yilmaz
Missiemo commented
The Miss Suomi competition’s behind-the-scenes mother Sunneva Sjögren commented on the situation of Finnartist Oy by email to Iltalehti, stating that entrepreneurship has been challenging in the entire events industry in recent years.
– The year 2024 was also financially demanding for us, which is reflected in the decrease in turnover. However, we have survived all phases in a planned and responsible manner. Now the development work is bearing fruit – the operation is established, and the coming years look more stable, both business-wise and structurally, Sjögren writes in his message.
According to Sjögren, the financing and business operations of the Miss Suomi competition consist of revenues from agreements with partners, commercial visibility and marketing agreements, and event production.
Finnartist Oy has succeeded in improving its turnover from the years before the corona years. For example, in 2018, the company’s turnover was 15,000 euros and the profit for the financial year was 9,000 euros. A year later, i.e. in 2019, the turnover was 11,000 euros and the loss was 22,000 euros.
Part of the funding from partners
According to Sjögren, in addition to the competition, Finnartist Oy also produces advertising and brand photography, marketing collaboration projects, corporate events, as well as model, promotion and production staff mediation.
– These make up the company’s continuous turnover, the profits of which also finance the production of the Miss Finland competition, he says.
– The costs of training, tours, international competition trips and finals are covered by the company’s business and partnerships, Sjögren explains.
According to Sjögren, Finnartist’s equity ratio has only temporarily decreased, as the company has made investments to develop operations. According to Sjögren, the company is on solid ground and now expects the investments to produce results.
Sunneva Sjögren is known as a mission mother. Jussi Eskola
Another company also had years of losses
Another company, International Artist Center Oy, has previously also been behind Kilapilu. According to Sjögren, however, the International Artist Center has not been involved with the Miss Finland competition for years and the activities were transferred to Finnartist Oy in the past years.
According to the company’s Instagram account, International Artist Center Oy’s business is filming, brand ambassadors, events and training. The website of the company’s Instagram account has been marked as the home page of the Miss Finland competition.
International Artist Center Oy has made a loss in the most recent accounting periods, with the exception of 2023.
The turnover of International Artist Center Oy was 89,000 euros last year. The accounting period remained loss-making. There was a loss of 8,000 euros.
In 2023, the turnover was 7000 euros and the result was 4000 euros short of profit. In 2022, the operation remained at a loss of EUR 2,400. In 2021, the loss was 1,400 euros.
The turnover of International Artist Center Oy was 128,000 euros in 2019, after which the turnover dropped by more than 70 percent.
The changes in the figures are explained by the transfer of business operations.
Finnartist Oy was founded in 1962 and the International Artist Center two years later, i.e. in 1964. The original Miss Emperor, i.e. Eino Makunenleft the companies aside in 2021.
However, the roots of the Miss Finland contest extend beyond companies. The Miss Finland competition has been organized since 1931, when the competition was won by Ragnhild Nyholm.
This year, a Helsinki native was crowned Miss Finland Sarah Dzafce. She will represent Finland at the Miss Universe competition at the end of the year.