Peikko Group in 2022: Turnover EUR 314 million with 23% growth. Revenue in Russia decreased from $18 mn in 2021 to $13 mn in 2022. Peikko’s presence in Russia changed significantly in February 2022. Immediately after the war began, Peikko substantially downsized the Russian operations, starting with the major dismissal of employees. During the months of May and June, Peikko decided to withdraw from Russia completely and started the exit process. By August, Peikko had changed the name of its Russian company, had separated the operation from the rest of the Peikko organization, and had started the process of selling shares. However, Russian legislation changed in September, which meant that a permission from the government must be obtained before the sale of any shares belonging to limited liability companies. Peikko did not obtain this permission during 2022 and the process is still on-going.