The figures in this release are unaudited. The figures in brackets refer to the comparison period (the corresponding period of the previous year), unless otherwise stated. All figures and amounts have been rounded off from exact figures, which may result in minor inaccuracies in additions or subtractions.

January–March 2025

• Revenue was EUR 69.7 (98.1) million, -29.0% year-on-year.
• EBITDA was EUR 21.2 (4.5) million with an EBITDA margin of 30.4 (4.6)%.
• EBITDA for the core businesses was EUR 1.3 (3.8) million
• Adjusted EBITDA for the core businesses was EUR 1.9 (4.4) million
• Operating profit was EUR 18.9 (1.7) million. The profit margin was 27.2 (1.8)%.
• Undiluted earnings per share were EUR 1.04 (-0.34).
• At the end of the review period, the order backlog stood at EUR 373 (444) million
• A new financing arrangement was agreed on 25 March 2025. The arrangement consists of a EUR 5 million senior loan maturing on 31 March 2026 and bank guarantee limits maturing on 30 June 2026.
• Two of the three strategic assessments launched with the strategic direction in summer 2024 were completed:
  • Sale of the wind and solar power project development business to Fortum was completed on 26 February 2025, with a positive impact of EUR 22.4 million on EBITDA.
  • The decision to ramp down the zero-emission transport solutions business was taken on 28 February 2025, with a negative impact of EUR 2.9 million on EBITDA.
  • The assessment of the Marine and Offshore Unit will continue to ensure the best possible outcome in the rapidly evolving market environment for offshore wind and other arctic marine industries.

In line with the strategic direction taken in summer 2024, Enersense’s core businesses are project and service operations for the green energy transition and telecommunication networks.

Guidance for 2025 (unchanged)

Enersense expects its core businesses' EBITDA to improve from 2024 (2024: EUR 10.4 million) and its core businesses' adjusted EBITDA to be at the same level as in 2024 (2024: EUR 19.9 million). The Marine and Offshore Unit under strategic assessment is not part of the core business and no guidance is given for it.

Key figures

CEO Kari Sundbäck

Enersense is focused on improving profitability and achieving sustainable growth in its core businesses through customer-centric operational development, the Value Uplift program, and an updated core business strategy to be published in June.

In January-March, we made significant progress on the key targets we set last year. We improved our EBITDA, continued to clarify the strategy of our core businesses and completed two of our three strategic assessments. We also agreed on a new financing arrangement that gave us financial flexibility in our operations.

In the review period, our EBITDA improved to EUR 21.2 (4.5) million, mainly due to a gain of EUR 22.4 million on the sale of our wind and solar power project development business. The transaction was part of our strategic renewal, significantly improving our equity ratio. On the other hand, the ramp-down of the zero-emission transport solutions business weakened the EBITDA by EUR 2.9 million. The EBITDA for the comparison period was strengthened by a EUR 6.9 million income from wind power projects.

Seasonality and a weaker market situation compared to last year reduced first-quarter revenue and profitability in the core businesses. The profitability of our core businesses was in line with our expectations, and strengthened in the Power segment, while in the Industry and Connectivity segments, projects in the beginning of the year had a lower margin than in the comparison period. Revenue increased slightly in the Connectivity segment, but declined in the Industry and Power segments, where revenue fell after the completion of individual large projects at the end of last year and due to the proceeds from wind power project sales strengthening the comparison period. In the Industry segment, revenue from core business services declined due to contract changes and a smaller network of sites than in the comparison year.

We aim to do business in an environmentally and socially sustainable way and to increase our customers' positive carbon handprint. In early 2025, we were starting up Finland's first green hydrogen plant that we built and operate and maintain for our customer, P2X Solutions. Our experience in green hydrogen production gives us a strong starting point for partnering throughout the life cycle of future energy systems.

Our Value Uplift program, launched at the end of 2024 to improve efficiency and support profitable growth, has had a strong start. The procurement performance renewal has made encouraging progress and we expect to see benefits already in the second half of this year, whereas previously we estimated that the results would only start to show from the beginning of 2026. In total, we are targeting an annual performance improvement of around EUR 5 million from the second half of 2026 onwards. The Value Uplift program plays an important role in accelerating and financing the implementation of the strategy.

We will continue to patiently assess the Marine and Offshore Unit to ensure the best possible outcome in the rapidly evolving market environment for offshore wind power and other arctic marine industries. Our Marine and Offshore Unit had a positive EBITDA in the first quarter.

The strong commitment of Enersense's people to renewal and profitability improvement provides a good basis for developing our business and achieving our goals. We maintain our guidance for 2025 and expect our core businesses' EBITDA to improve from 2024.

Over the first half of the year, we have been working with our staff and customers to update the strategy of our core businesses. We will share our strategy and new financial targets at our Capital Markets Day on 4 June 2025. We hope to meet as many of you as possible on site or via webcast.

Significant events after the review period

There were no significant events after the review period.

Financial reporting 2025

Enersense will publish the following financial reports in 2025:

• January–June Half-Year Financial Report on Tuesday 12 August 2025
• January–September Business Review on Friday 31 October 2025

Pori, 28 April 2025
ENERSENSE INTERNATIONAL OYJ
The Board of Directors

Webcast

Enersense will host a webcast for investors, analysts and the media on 28 April 2025 at 12:00 EEST. CEO Kari Sundbäck and CFO Jyrki Paappa will present the result for January–March 2025 and answer questions. The event will be held in English and a recording will be available later on the company’s website.

Please register for the webcast.

Capital Markets Day 2025

Enersense invites institutional investors, analysts and media representatives to its Capital Markets Day on Wednesday, 4 June 2025, at 13:00 EEST. The event will be held at the Eliel Event Studio in Sanomatalo, Helsinki, at Töölönlahdenkatu 2 and as a webcast.

At the Capital Markets Day, Enersense will present its updated core business strategy and new financial targets for the strategy period. The event will include presentations by Enersense’s CEO Kari Sundbäck, CFO Jyrki Paappa, and other members of the Group Executive Team. The language of the event and materials will be English.

Please register for the Eliel Studio event no later than 30 May 2025. The event can also be followed live as a webcast and afterwards as a recording at the same address. Presentation materials will be available on Enersense’s website at the start of the event.

Additional information

Kari Sundbäck
CEO
Tel. +358 50 464 7704
Email: kari.sundback@enersense.com

Jyrki Paappa
CFO
Tel. +358 50 556 6512
Email: jyrki.paappa@enersense.com

Media contacts:
Liisi Tamminen
Head of Communications and Sustainability
Tel. +358 44 222 5552
Email: liisi.tamminen@enersense.com

Additional information is available on the company’s website.