Finland · Delayed Price · Currency is EUR Solwers Oyj Earnings Call Transcripts
Fiscal Year 2026
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Revenue declined 1.2% year-over-year to EUR 41.8 million, with profitability pressured by low billing rates and wage inflation, especially in Sweden. Cost-saving measures and financing amendments are underway, with full benefits expected in Q4.
Fiscal Year 2025
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Revenue grew 2.9% to EUR 80.6 million in 2025, driven by acquisitions, but profitability remained under pressure with a 5% EBITDA margin. Cost savings and improved H2 performance were noted, yet no dividend will be paid as focus shifts to strengthening the balance sheet.
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Revenue grew 6% to EUR 42.3 million in H1 2025, but profitability declined due to price competition, one-off costs, and market uncertainty. Order backlog and billing rates improved, while cost savings and a covenant waiver support ongoing operations and selective M&A.
Fiscal Year 2024
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Revenue grew 19% to EUR 78.3 million in 2024, driven by acquisitions, but EBITDA margin fell to 7% due to increased costs and one-off items. Order backlog improved, and the outlook anticipates recovery in H2 2025, with continued focus on acquisitions and profitability.
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Revenue grew 20.2% in H1 2024, mainly from acquisitions, with organic growth at 1%. Profitability declined due to one-off costs and higher contingent consideration, but order backlog and billing rates remained stable. Market recovery is expected towards the end of 2024.