Talenom Plc, inside information, 19 September 2025 at 11:00 EEST
Inside information: Talenom Plc initiates a strategic review of the potential separation of the Easor software business into an independent publicly listed company
Talenom published a strategy update in October 2024, in which Talenom decided to separate the software business into its own company and start selling its software to external accounting firms as well. As a result of successful pilot sales, Talenom started selling software under its own Easor brand in spring 2025. From the beginning of 2025, Talenom has reported key figures for two business areas: Software business and Accounting business. A steadily growing international accounting business operates under the Talenom name, and a scalable SaaS business, which seeks strong growth, especially from abroad, operates under the Easor name. To support the execution of the businesses' independent strategies, the company's Board of Directors has decided to initiate a strategic review. As part of this process, the company is exploring opportunities to separate the Easor software business into an independent company, which would then be listed on the stock exchange.
According to the company's Board of Directors, the separation of the software and accounting businesses could enhance and clarify shareholder value creation. The separation would also enable both businesses to more strongly implement their own confirmed strategies and growth opportunities.
According to the Board of Directors' assessment, a potential demerger is expected to improve the performance of the Easor software business and the Talenom accounting business through organizational clarity and independent, focused decision-making bodies. As two separate companies, Easor and Talenom would be positioned to grow and develop faster.
Further information on a potential separation and its evaluation will be provided as the process progresses. The company has not made any decisions regarding a potential separation and emphasizes that the potential separation of the Easor software business is dependent on, among other things, market conditions. The Board of Directors estimates that a potential separation could be implemented during the first half of 2026.
Strategic strengths of Talenom’s accounting business:
- Operates in a large and constantly growing stable accounting firm market: The estimated market size in Europe is approximately EUR 100 billion. Talenom is growing steadily and operates in three European countries: Finland, Sweden and Spain. Talenom has significant growth potential in the existing market.
- Strong track record in international business: Talenom has been operating internationally for over six years and has demonstrated the capability to expand into new operating countries. The management team is international and committed to the values, culture and strategy implementation.
- Significant profitability and growth potential with the unified ONE Talenom concept: The determined implementation of the ONE Talenom operating concept is expected to achieve faster growth and higher profitability. ONE Talenom is a concept for managing accounting firm operations, which incorporates proven best practices for accounting firms. Best practices create high customer and employee satisfaction and leverage the latest technology to implement streamlined processes. Together, these enable the cost-effective delivery of an excellent customer experience for SMEs.
- Strong cash flow: Recurring cash flow from customers with long-term customer relationships. This enables the company to achieve its long-term goals and maintain a strong dividend stream.
Target of Talenom's accounting business:
- Talenom is targeting over 10% annual net sales growth in the medium term.
Strategic strengths of the Easor software business:
- A promising foothold in a growing market: Easor is well-positioned in the digitalizing financial management software market in Europe. Regulation and digitalization increase demand, and Easor offers a competitive solution that complies with regulations. For example, in Spain, e-invoicing is becoming mandatory. New legislation, published in summer 2025, mandates the use of Verifactu-compliant software from 1 January 2026. Management estimates that over 3 million companies do not yet use the necessary software, for which Easor has a solution.
- Easy-to-use and efficient financial management software: The software was born out of the daily life of an accounting firm, in cooperation with clients and accountants. Easor App offers entrepreneurs an easy-to-use tool for daily financial management, and Easor Accounting has been designed in collaboration with professionals to be the most efficient accounting tool.
- Broad ecosystem: Easor integrates with over 400 ERP systems and offers additional services through a network of partners – for example, financing, banking and collection services, as well as expert knowledge.
- Architecture supporting internationalization: The renewed software architecture enables cost-effective development.
- Readiness for scalable growth: Easor already operates in several European countries, and as a separate company, it can build its distribution independently.
Target of Easor’s software business:
- Easor is targeting over 20% annual net sales growth in the medium term.
Unaudited figures 1-6/2025
Talenom has started reporting financial and key figures for its accounting and software businesses separately on a quarterly basis from 1 January 2025.
| Software business 1–6/2025 |
Accounting business 1–6/2025 |
Group 1–6/2025 |
|
| Net sales, EUR 1,000 | 12,182 | 58,473 | 70,655 |
| EBITDA, EUR 1000 | 8,917 | 11,461 | 20,379 |
| EBITDA of net sales, % | 73.2% | 19.6% | 28.8% |
| Operating profit, EUR 1,000 | 3,486 | 4,724 | 8,209 |
| Operating profit of net sales, % | 28.6% | 8.1% | 11.6% |
The higher net sales in the first half of the year were affected by a change in the net sales recognition principle of the Software business, which improved reported net sales by EUR 1.5 million.
Further information:
Otto-Pekka Huhtala
CEO, Talenom Plc
+358 40 703 8554
otto-pekka.huhtala@talenom.fi
Talenom in brief
Talenom is an agile and progressive accounting firm established in 1972. Our business idea is to help entrepreneurs succeed by making their daily lives easier with the market's easiest-to-use digital tools and highly automated personal services. In addition to comprehensive accounting services, we support our customers’ business with a wide range of expert services and our partners' services. Our vision is to be the preferred partner in financial management.
Talenom’s growth history is strong – average annual net sales growth was approximately 16% between 2005 and 2024. Talenom Group has two business areas: Software business and Accounting business. In 2024, Talenom’s net sales was some EUR 126 million and the company had 1,554 employees in Finland, Sweden, Spain and Italy at the end of the year. Talenom’s share is quoted on the Main Market of Nasdaq Helsinki. Read more: investors.talenom.com/en