Sitowise Group Plc, Financial Statement Release, 1 January - 31 December 2025,
11 February 2026 at 8:30 am EET
This release is a summary of Sitowise Group's financial statements release
January-December 2025. The complete financial statements release is attached,
and also available on the company's website at
www.sitowise.com/investors/reports-and-presentations
October-December in brief
· Net sales increased by 3.0% to EUR 50.2 (48.8) million.
· Organic net sales growth was positive at 1.2% (-9.4%).
· Adjusted EBITA totaled EUR 2.2 (1.2) million, or 4.4% (2.4%) of net sales.
· Operating result was EUR -38.8 (-0.4) million, or -77.2% (-0.7%) of net
sales. Without the goodwill impairment related to the Swedish business recorded
during the review period, the operating result would have been EUR 0.8 (-0.4)
million.
· Cash flow from operating activities before financial items and taxes
increased to 14.1 (10.9) million euros.
· Utilization rate improved to 74.2% (72.5%).
January-December in brief
· Net sales decreased by 2.2% to EUR 188.6 (192.9) million.
· Organic net sales growth was negative at -2,2% (-10.1%).
· Adjusted EBITA was EUR 8.9 (9.6) million, or 4.7% (5.0%) of net sales.
· Operating result decreased to EUR -37.5 (2.5) million, or -19.9% (1.3%) of
net sales.
· Cash flow from operating activities before financial items and taxes was
18.8 (21.5) million euros.
· Utilization rate was 73.3% (72.6%).
· Order book increased by 1.2% to 152 (151) million euros.
· Leverage (net debt / adjusted EBITDA) was 4.9x (5.0x).
· The Board of Directors proposes to the Annual General Meeting, planned for
26 March 2026, that no dividend be paid for the financial year 2025.
The figures in the financial statements release 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 10 10 Change, 1-12/2 1-12/2 Change,
-12/20 -12/20 % 025 024 %
25 24
FINANCIAL
Net sales 50.2 48.8 3.0% 188.6 192.9 -2.2%
Organic 1.2% -9.4% -2.2% -10.1%
growth, %
EBITA, adjusted 2.2 1.2 84.6% 8.9 9.6 -7.2%
% of net 4.4% 2.4% 4.7% 5.0%
sales
EBITA 1.8 0.9 95.9% 6.2 7.4 -17.1%
Operating result -38.8 -0.4 -10841.6% -37.5 2.5 -1617.8%
% of net -77.2% -0.7% -19.9% 1.3%
sales
Result for the -39.9 -1.6 -2345.5% -42.4 -2.7 -1465.6%
period
Cash flow from 14.1 10.9 28.5% 18.8 21.5 -12.5%
operating
activitiesbefore
financial items
and taxes
Net debt 46.3 52.6 -12.0%
Net debt / 4.9x 5.0x
EBITDA, adjusted
Equity ratio, % 33.4% 43.2%
Earnings per -1.11 -0.05 -2345.5% -1.18 -0.08 -1465.6%
share (EPS), EUR
OPERATIONAL
Number of full 1,684 1,772 -4.9% 1,722 1,854 -7.1%
-time employees
Utilization rate 74.2% 72.5% 73.3% 72.6%
Number of 63 62 250 251
working days
Order book at 152 151 1.2% 152 151 1.2%
the end of
period
CEO Anna Wäck: Strong quarter in Infra, improving performance in other business
areas
Sitowise's market environment remained challenging in the final quarter of the
year. I am pleased that despite this, we succeeded in returning our net sales to
growth and improving our utilization rate, profitability, and order book
compared to the previous year.
Net sales increased to EUR 50.2 (48.8) million. The growth was driven by the
Infra business, which delivered exceptionally strong organic growth of over 11
percent, supported by various rail transport projects as well as green
transition and industrial projects. Net sales in Digital Solutions business
declined due to lower project business volumes, but profitability remained
reasonably good as the fast-growing product business supported its development.
In the Buildings and Sweden business areas, the decline in revenue slowed
clearly from previous quarters, and profitability improved significantly from
the comparison period.
Sitowise's adjusted EBITA margin rose to 4.4 (2.4) percent. The utilization rate
improved across all business areas, especially in Sweden and Infra.
Profitability was burdened by the overall low volumes, tight price competition,
and certain isolated write-downs related to suspended projects in the Buildings
business. Operating cash flow increased from the comparison period, and cash
reserves were at a good level at year-end. Our gearing ratio was 4.9x (5.0x).
The period's result and earnings per share were strongly impacted by the
goodwill impairment recorded in December related to acquisitions completed in
Sweden between 2019-2023.
In the final quarter of 2025, our focus remained on active customer work and
sales. All business areas saw higher order intake compared to the same period
last year. The most significant wins during the quarter included the design work
for the construction phase of the Vantaa light rail in Infra and a ten-year
agreement with the City of Gothenburg for control and monitoring systems in the
tramway infrastructure in Digital Solutions. Strengthened sales and the
operational improvements made in the business areas provide a foundation for the
gradual profitability improvement also in 2026.
Based on my first weeks as CEO, I can say that Sitowise has the expertise,
opportunities, and ambition to succeed. We are a strongly people-centric expert
organization with an exceptional ability and opportunity to influence society.
Our design work improves everyday life in cities and mobility, strengthens
critical infrastructure across the Nordics, and supports the more sustainable
use of natural resources. It is a privilege to lead an organization that makes
such a concrete impact on people's lives and the environment.
Our most important priorities for 2026 are the turnaround of the Swedish
business and the improvement of the Group's overall profitability, strengthening
the company's competitiveness and market position, and leveraging the ongoing
technological transformation. Our goal is to accelerate growth in our strategic
customer segments — industry, data centers, and energy — and to speed up the
adoption of new technology in design and innovation. In doing so, we will ensure
that Sitowise continues to evolve as an agile, reliable and preferred partner
for our customers.
Outlook and guidance
Outlook for the year 2026
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 2026.
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, but 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 we expect it to take place in 2026.
At the end of December, order book were at a good level in the Infra and Digital
Solutions businesses. In the Buildings and Sweden business areas, order books
remained 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 2026. In
2026, there will be one working day more in Finland and two days more in Sweden
compared to 2025 (even number of working days in Q1, Q2 and Q3 in both countries
and +1 day in Q4 in Finland and +2 days in Q4 in Sweden).
Market outlook and current profitability
Share of net Market Current profitability
sales outlook
Infra 40% Stable Above target
Buildings 26% Weak Negative
(improving)
Digital 19% Stable In line with target
Solutions
Sweden 15% Weak Negative
(improving)
Period: Q4 2025 Next 12 Q4 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 2026
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 2026. Therefore, Sitowise has decided not to give net sales
and profitability guidance for 2026.
Significant events after the review period
Changes in the Company's Management
M.Sc. (Econ.) Sanna Sormaala started as Sitowise's CFO and a member of the Group
Management Team on 7 January 2026.
Sitowise's CEO Heikki Haasmaa resigned from his position on 12 January 2026.
M.Sc. (Econ.) Anna Wäck was appointed the company's new CEO as of 19 January
2026, and M.Sc. (Tech.) Jannis Mikkola was appointed Deputy CEO and EVP
Technical consulting as of 19 January 2026.
Mikko Korhonen was appointed the company's Chief Technology Officer (CTO) and a
member of the Group Management Team as of 1.3.2026. He success Sitowise's CIO
Turo Tinkanen, who resigned from his position in October 2025.
Elina Väistö was appointed on 21 January 2026 as Head of Sitowise's
Infrastructure business area and a member of the Group Management Team as of 26
January 2026. She succeeds Jannis Mikkola in this role. Sami Lankiniemi was
appointed on 21 January 2026 as Head of Sitowise's Digital Solutions business
area and a member of the Group Management Team as of 26 January 2026. He
succeeds Anna Wäck in this role.
Timo Räikkönen, SVP, Buildings Business Area and member of the Group Management
Team, left his position on 26 January 2026. The search for his successor has
begun, and Jannis Mikkola, EVP Technical consulting at Sitowise, will
temporarily assume the duties of SVP, Buildings Business Area.
After the appointments, the composition of Sitowise Group's Management Team is
as follows as of 1 March 2026:
· Anna Wäck, CEO
· Jannis Mikkola, Deputy CEO and EVP Technical consulting, interim SVP
Buildings Business Area
· Elina Väistö, SVP, Infra Business Area
· Sami Lankiniemi, SVP, Digital Solutions Business Area
· Daniel Doeser, EVP, Sweden Business Area
· Taija Lehtola, CHRO
· Sanna Sormaala, CFO
· Mikko Korhonen, CTO
Flagging notifications
On 15 January 2026, Sitowise Group Plc received a flagging notification stating
that the direct holding of Paradigm Capital Value Fund SICAV in the Company's
shares and voting rights had exceeded 25.00 percent and risen to 25.59 percent.
Espoo, 11 February 2026
Sitowise Group Plc
Board of Directors
Additional information
Anna Wäck, CEO, anna.wack@sitowise.com, tel. +358 40 670 8282
Sanna Sormaala, CFO, sanna.sormaala@sitowise.com, tel. +358 50 452 5498
Mari Reponen, Head of IR, mari.reponen@sitowise.com, tel. +358 40 702 5869
Webcast for analysts, media and investors
Sitowise's Q4 2025 earnings webcast will be held today, 11 February 2026 at 12
pm EET. The webcast can be accessed either live or as a replay available at
https://rajucast.tv/en/sitowise/sitowise-q4-2025-result
-webcast/ (https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fraju
cast.tv%2Fen%2Fsitowise%2Fsitowise-q4-2025-result
-webcast%2F&data=05%7C02%7Cmari.reponen%40sitowise.com%7C9946c81e36b248dbb1e908de
53798f17%7Cb67da565e2fb4473b9db83695070d988%7C0%7C0%7C639039978714809246%7CUnknow
n%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOI
joiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=Vwk%2FjBQQqPyaN1sGbplIdFv9ube%2F8R
UnpNpPTcy4EL8%3D&reserved=0)
Financial calendar and Annual General Meeting 2026
The planned publication dates for Sitowise Group Plc's financial reports are as
follows:
· 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
Thursday 26 March 2026. The Board of Directors will summon the AGM later.
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 189 million in 2025 and the
company employs approximately 1,900 experts. Sitowise Group Plc is listed on
Nasdaq Helsinki under the trading symbol SITOWS.