Sitowise Group Plc Interim Report, 1 January - 30 September 2025, 6 November
2025 at 8:30 am EET
This release is a summary of Sitowise Group Plc's Interim Report
January-September 2025. The complete report is attached to this release as a PDF
file, and also available on the company's website at
www.sitowise.com/investors/reports-and-presentations
July-September in brief
· Net sales decreased by 3.2% to EUR 40.4 (41.8) million.
· Organic net sales growth was negative at -3.4% (-10.5%).
· Adjusted EBITA totaled EUR 1.7 (2.4) million, or 4.2% (5.8%) of net sales.
· Operating profit was EUR 0.5 (-0.2) million, or 1.2% (-0.5%) of net sales.
· Cash flow from operating activities before financial items and taxes
decreased to -2.9 (-0.3) million euros.
· Utilization rate improved to 73.4% (72.0%).
January-September in brief
· Net sales decreased by 4.0% to EUR 138.4 (144.2) million.
· Organic net sales growth was negative at -3.3% (-10.3%).
· Adjusted EBITA was EUR 6.7 (8.4) million, or 4.8% (5.8%) of net sales.
· Operating profit decreased to EUR 1.2 (2.8) million, or 0.9% (2.0%) of net
sales.
· Cash flow from operating activities before financial items and taxes was 4.7
(10.6) million euros.
· Utilization rate was 73.1% (72.6%).
· Order book decreased by 3.5% to 149 (154) million euros.
· Leverage (net debt / adjusted EBITDA) was 7.2x (5.0x).
· In the client survey conducted at the beginning of the year, the willingness
to recommend remained at a good level and the NPS (Net Promoter Score) was 35
(31).
The figures in the interim report are unaudited. Comparative figures for the
corresponding period of the previous year are in brackets. The figures disclosed
in the report are rounded so the sum of individual figures can deviate from the
reported sum. This report has been published in Finnish and English. If there
are any differences between the English translation and the original Finnish
version, the Finnish report shall prevail.
Key figures
EUR million 7-9/ 7-9/ Change, 1-9/ 1-9/ Change, 1-12/
2025 2024 % 2025 2024 % 2024
FINANCIAL
Net sales 40.4 41.8 -3.2% 138.4 144.2 -4.0% 192.9
Adjusted organic -3.4% -10.5% -3.3% -10.3% -10.1%
growth, %
EBITA, adjusted 1.7 2.4 -30.1% 6.7 8.4 -20.3% 9.6
% of net sales 4.2% 5.8% 4.8% 5.8% 5.0%
EBITA 1.5 1.3 18.5% 4.3 6.5 -33.2% 7.4
Operating profit 0.5 -0.2 318.7% 1.2 2.8 -56.1% 2.5
% of net sales 1.2% -0.5% 0.9% 2.0% 1.3%
Result for the -0.7 -1.5 50.2% -2.5 -1.1 -135.8% -2.7
period
Cash flow from -2.9 -0.3 -804.5% 4.7 10.6 -55.1% 21.5
operating
activitiesbefore
financial items
and taxes
Net debt 59.9 60.3 -0.6% 52.6
Net debt / 7.2x 5.0x 5.0x
EBITDA, adjusted
Equity ratio, % 44.6% 44.6% 43.2%
Earnings per -0.02 -0.04 48.7% -0.07 -0.03 -169.4% -0.08
share (EPS), EUR
OPERATIONAL
Number of full 1,706 1,857 -8.1% 1,735 1,882 -7.8% 1,854
-time employees
Utilization rate 73.4% 72.0% 73.1% 72.6% 72.6%
Number of 66 66 188 189 251
working days
Order book at 149 154 -3.5% 149 154 -3.5% 151
the end of
period
CEO Heikki Haasmaa: Utilization rate improved, slight increase in order book
Overall, the third quarter was successful in Sitowise's Finnish operations. Our
Infra business continued to grow faster than the market, and Digital Solutions
business benefited from the strong growth in our product business, which
consistently delivers excellent profitability. The Buildings business has
undergone a clear shift during 2025, and the adjustments implemented earlier -
including a sharpened commercial focus - continued to drive higher utilization
and improved profitability compared to the previous year. Overall, our
performance in Finland was encouraging, with profitability improving from the
previous quarter.
Similar to the Buildings business, a broad set of actions has also been
implemented in Sweden during 2025 - including sharpening the business and sales
focus, optimizing personnel resources, targeted recruitments, and improved
project management. Thanks to these actions, we saw a clear improvement in
utilization rates in our largest business line, structural engineering, which is
now approaching a profitability turnaround. However, challenges persisted in
other areas, particularly in building engineering services. Overall, delays in
project starts kept utilization rates in Sweden below target, and the business
area remained clearly loss-making. Thanks to the actions taken this year, we
have now positioned the business area to improve its financial performance in
2026. Growth is now being pursued especially in infrastructure, project
management, and sustainability services - areas with currently modest weight but
strong potential in Sweden.
At the group level, Sitowise's net sales for July-September was 40.4 million
euros, down 3.2% year-on-year. The adjusted EBITA margin stood at 4.2%. In our
Finnish operations we reached clearly higher margin and are on continuously
improving path to reach our target level.
The market environment remained challenging, especially in Buildings and Sweden.
Low volumes, tight price competition, and budget pressures among public sector
clients also affected Infra and Digital Solutions. That's why I'm especially
pleased to see our focus on customer engagement and sales paying off. Our order
intake grew significantly year-on-year. Digital Solutions secured major wins,
for example in long-term projects with the Finnish Transport Infrastructure
Agency and Trafikverket, and Infra and Buildings also saw growth in new orders.
In Sweden, order intake remained stable.
Strengthening customer relationships and sales will continue to be our priority.
We aim to grow our order book across all business areas and ensure we're ready
to seize market opportunities as they emerge. Our growth focus is especially
strong in industry, defense, energy and sustainability services. Further, we
continue to seek growth our product business, that is bringing stability and
profitability to our business. In Sweden and Buildings business we continue to
have heavy focus on efficiency. We have a strong team and a clear direction, and
I'm confident that together we'll continue to make progress - even in a
demanding market.
Outlook and guidance
Outlook for the year 2025
The long-term growth in the demand for design, consulting, and digital services
to create sustainable societies is supported by megatrends such as urbanization,
renovation backlog, sustainability, digitalization, and security.
We expect the technical consulting market environment to remain mixed in the
coming months. Good demand for services related to green transition, security,
and digitalization will support business performance especially in the Infra and
Digital Solutions business areas. In the Buildings business area, there have
been signs of moderate recovery in the construction market, and we believe that
the market bottom is behind us. However, we expect the construction market
recovery to be slow and materialize on a larger scale only in 2027. In the
Sweden business area, Sitowise has taken decisive improvement measures and
expects these to gradually enhance performance. Achieving a profitability
turnaround in Sweden primarily requires increasing net sales. There is
uncertainty related to the timing of the Swedish construction market recovery,
but it is generally anticipated to take place in 2026.
At the end of September, order books were at a good level in the Infra and
Digital Solutions businesses. In the Buildings and Sweden business areas, order
books were at low levels.
In addition to the market development, cost inflation (e.g., relating to salary
increases), potential currency fluctuations (EUR/SEK) and Sitowise's financing
expenses are expected to impact the company's financial performance in 2025. In
2025, the number of working days in Finland is one less compared to 2024 (-1 in
Q1, -1 in Q2, +/- 0 in Q3 and +1 in Q4). In Sweden, the number of working days
remains the same in 2025 as it was in 2024. In total, there will be 251 working
days in Finland and 247.5 in Sweden.
Market outlook and current profitability
Share of net Market Current profitability
sales outlook
Infra 40% Stable Above target
Buildings 28% Weak Clearly below target
(improving)
Digital 21% Stable Above target
Solutions
Sweden 12% Weak Negative
(improving)
Period: Q3 2025 Next 12 Q3 2025
months
Definitions: % of Strong / Adj. EBITA-%: Above: >12%;
consolidated Stable / In line: 10-12%; Below: 5-10%;
net sales Weak Clearly below: 0-5%; Negative <0%
No guidance issued for 2025
Due to the unpredictable timing of construction market recoveries both in
Finland and Sweden there is significant uncertainty related to Sitowise's net
sales development in 2025. Therefore, Sitowise has decided not to give net sales
and profitability guidance for 2025.
Significant events after the review period
Turo Tinkanen announced in October that he will leave Sitowise and his position
as EVP, Information Technology and as a member of the Group Management Team in
February 2026. He has been responsible for the group's IT and information
security functions, as well as the development of technological infrastructure
and AI capabilities. The search for his successor has begun.
Espoo, 6 November 2025
Sitowise Group Plc
Board of Directors
Additional information
Heikki Haasmaa, CEO, heikki.haasmaa@sitowise.com, tel. +358 50 304 7765
Kim Strömberg, Interim CFO, kim.stromberg@sitowise.com, tel. +358 40 707 6101
Mari Reponen, Head of IR, mari.reponen@sitowise.com, tel. +358 40 702 5869
Financial calendar and Annual General Meeting 2026
The planned publication dates for Sitowise Group Plc's financial reports are as
follows:
· Financial Statements Release for 2025: 11 February 2026
· Annual Review, incl. the Report of the Board
of Directors and Financial Statements 4 March 2026
· Interim Report for January-March 2026: 6 May 2026
· Half-year Report for January-June 2026: 12 August 2026
· Interim Report for January-September 2026: 5 November 2026
The financial reports are planned to be published at 8.30 a.m. (EET/EEST).
Sitowise observes a silent period of 30 days prior to publishing financial
reports.
Sitowise Group Plc's Annual General Meeting (AGM) 2026 is planned to be held on
Wednesday 26 March 2026. The Board of Directors will summon the AGM later. A
shareholder may request that a matter falling under the authority of the General
Meeting of Shareholders shall be placed on the agenda of the AGM. To this
effect, a written request compliant with the Companies Act should be delivered
and addressed to the Board of Directors on 4 February 2026 at the latest
to agm@sitowise.com.
Webcast for analysts, media and investors
Sitowise's Q3 2025 earnings webcast will be held today, 6 November 2025 at 12 pm
EET. The webcast can be accessed either live or as a replay available
at https://rajucast.tv/en/sitowise/sitowise-q3-2025-result-webcast/
Distribution
Nasdaq Helsinki Ltd
Key media
www.sitowise.com
Sitowise in brief
Sitowise is a Nordic expert in the built environment and forestry with a strong
focus on digitality. We provide design and consulting know-how to enable more
sustainable environment and smarter urban development as well as smooth
transportation. Sitowise offers services related to real estate and buildings,
infrastructure, and digital solutions both in Finland and in Sweden. Global
megatrends drive huge changes that require a re-evaluation of the smartness in
the built environment - therefore we have set our vision to be Redefining
Smartness in Cities. The Group's net sales were EUR 193 million in 2024 and the
company employs approximately 2,000 experts. Sitowise Group Plc is listed on
Nasdaq Helsinki under the trading symbol SITOWS.