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Beskrivning
| Land | Finland |
|---|---|
| Lista | First North Finland |
| Sektor | Tjänster |
| Industri | Allmänna tjänster |
Fondia Plc
Company release
2025-08-21 at 8.30 a.m. EEST
FINANCIAL DEVELOPMENT IN BRIEF
Figures in parentheses refer to the corresponding period of the previous year, unless otherwise stated. Fondia Plc and its group companies are hereinafter referred to as "Fondia" or the "company".
April-June 2025 summary:
- Net sales EUR 6.2 million (6.7), a change of -7.5%
- EBITDA EUR 0.4 million (0.6)
- EBITDA-% 6.1% (8.2)
- Adjusted EBITDA EUR 0.5 million (0.6)*
- Adjusted EBITDA-% 8.0 (9.5)*
- Operating profit (EBIT) EUR 0.1 million (0.3)
- Operating profit-% (EBIT-%) 2.2% (4.9)
- Adjusted operating profit (EBIT) EUR 0.3 million (0.4)*
- Adjusted operating profit (EBIT-%) 4.1% (6.1)*
- Profit for the period EUR 0.05 million (0.2)
- Adjusted profit for the period EUR 0.2 million (0.3)*
- Personnel (period average FTE) 142 (162), a change of -12.2%
*Items affecting comparability of 118 thousand euros have been recorded in April-June 2025. All non-recurring expenses for the reporting period are related to organizational restructuring. In the comparison period, EUR 84 thousand in non-recurring expenses related to the change of the Swedish Managing Director were recorded.
January-June 2025 summary:
- Net sales EUR 12.7 million (13.8), a change of -8.1%
- EBITDA EUR 0.5 million (1.3)
- EBITDA-% was 4.0% (9.1)
- Adjusted EBITDA EUR 0.9million (1.3)*
- Adjusted EBITDA-% 7.3% (9.7)*
- Operating profit (EBIT) EUR 0.05 million (0.8)
- Operating profit-% (EBIT-%) 0.4% (6.0)
- Adjusted operating profit (EBIT) EUR 0.5 million (0.9)*
- Adjusted operating profit (EBIT-%) 3.7% (6.6)*
- Profit for the period EUR -0.06 million (0.6)
- Adjusted profit for the period EUR 0.3 (0.7)*
- Continuous monthly invoicing accounted for 46% (44) of net sales
- Personnel (period average FTE) was 147 (169), a change of -13.0%
*Items affecting comparability of 425 thousand euros have been recorded in January-June 2025. All non-recurring expenses for the reporting period are related to organizational restructuring. In the comparison period, EUR 84 thousand in non-recurring expenses related to the change of the Swedish Managing Director were recorded.
KEY FIGURES
| Fondia Plc Group | 1-6/2025 | 1-6/2024 | Change, % | 1-12/2024 |
| Net sales, 1,000 euros | 12,672 | 13,786 | -8.1% | 25,628 |
| EBITDA, 1,000 euros | 501 | 1,254 | -60.1% | 1,938 |
| % of net sales | 4.0% | 9.1% | 7.6% | |
| Adjusted EBITDA, 1,000 euros* | 928 | 1,338 | -30.8% | 2,282 |
| % of net sales* | 7.3% | 9.7 % | 8.9% | |
| Operating profit (EBIT), 1,000 euros | 45 | 831 | -94.6% | 1,017 |
| % of net sales | 0.4% | 6.0% | 4.0% | |
| Adjusted operating profit (EBIT)* | 470 | 915 | -48.6% | 1,361 |
| % of net sales* | 3.7% | 6.6% | 5.3% | |
| Profit for the period, 1,000 euros | -61 | 591 | -110.3% | 651 |
| % of net sales | -0.5% | 4.3% | 2.5% | |
| Adjusted profit for the period, 1,000 euros* | 279 | 659 | -57.7% | 995 |
| % of net sales* | 2.2% | 4.8% | 3.9% | |
| Net gearing % | -52.2% | -114.6% | -75,8% | |
| Equity ratio % | 30.4% | 36.6% | 40.4% | |
| Return on equity (ROE) % | -2.6% | 14.5% | 16.5 % | |
| Average number of employees, full-time equivalent (FTE) | 147 | 169 | -13.0% | 162 |
| Balance sheet total, 1,000 euros | 6 178 | 9,012 | 7,448 | |
| Net earnings per share, euros | -0.02 | 0.15 | 0.16 | |
*Items affecting comparability of EUR 425 thousand have been recorded in January-June 2025. All non-recurring expenses for the reporting period are related to organizational restructuring. In the comparison period, EUR 84 thousand in non-recurring expenses related to the change of the Swedish Managing Director were recorded.
*In the financial year 2024, non-recurring expenses totalling EUR 344 thousand were recorded.
OUTLOOK FOR 2025 (unchanged)
In 2025, Fondia will focus on improving profitability. The market situation remains uncertain, and this will have a weakening impact on the ability to assess the demand for legal services and the factors affecting it.
CEO TIMO LAPPI:
"During the first half of the year, we succeeded in stabilizing our operations and laying the foundations for the future. The early part of the year was challenging for us in terms of results, as we had expected following the change negotiations in our Finnish operations. However, the growth in international business during the first part of the year and the direction of our operating indicators in Finland give us confidence for the future. Our growth challenges within the Group continued during the reporting period and efforts to improve profitability continue. The EBITDA and operating profit margins adjusted for non-recurring items for the reporting periods were weakened by the decline in total net sales, which was only partially offset by the Group's savings programme.
During the April-June reporting period, two important things happened for us. First, we completed our strategy work. We have always had a strong will and ability to renew the legal services market by making our services more agile, business-oriented, and technology-enabled. Our vision, "Rewriting the Legal Industry", remains relevant, and our mission, "Human Excellence", emphasizes the importance of experts in supporting customers' businesses and as well as providing high-quality, human centric legal work. People's input is crucial, even though we are living in a time of profound technological transformation.
We updated our medium-term financial targets and key initiatives for the coming years to implement our strategy and achieve profitable growth. In the coming years, we will implement our strategy and pursue profitable growth through four key initiatives: enhancing customer work efficiency, strengthening employee experience, renewing our Legal Department as a Service (LDaas) offering, and leveraging new legal technology.
Another, more personal thing was that I became Fondia's CEO for the second time. I was able to return to the company and the team that are important to me.
We will continue to reform our operations and our focus for the current financial year will be on profitability by turning net sales back to growth by putting customers at the heart of everything we do, improving employee satisfaction and advancing our strategic projects. We closely monitor the market and react swiftly, without compromising the customer or employee experience."
April-June 2025
The Group's net sales decreased by 7.5% in April-June compared to the comparison period. Net sales in Finland decreased by 10.8% during the reporting period compared to the comparison period, mainly due to the continued impact of the change negotiations in the early part of the year. Our international net sales increased by 1.4% in April-June. In Sweden, our net sales declined by 1.5%, while growth in the Baltics continued and was 17.4% compared to the comparison period. The Group's adjusted EBITDA margin (EBITDA-%) for April-June was 8.0% (9.5) and the adjusted operating margin (EBIT-%) was 4.1% (6.1).
January-June 2025
During the reporting period January-June, our company's net sales decreased by 8.1% compared to the comparison period. Net sales for the first half of the year decreased by 12.2% in Finland, increased by 1.0% in Sweden and by 11.7% in the Baltics compared to the comparison period. Our international net sales grew by a total of 2.6% in the first half of the year. During the reporting period January-June, all ongoing services represented 45% (44) of the Group's net sales. The share of total invoicing for Legal Department Service (LDaaS) customers and other customers covered by ongoing services was 67% (76) of net sales. In Sweden, the share of all ongoing services was 37% (45) of net sales and in the Baltics 39% (29). All ongoing services represented 47% (43) of net sales in Finland. International net sales represented 26% (23) of the Group's total net sales. In January-June, the adjusted EBITDA margin was 7.3% (9.7) and the adjusted EBIT margin was 3.7% (6.6).
INVESTOR COMMUNICATIONS
Fondia will publish its Half-yearly Financial Report for January-June 2025 on Thursday 21 August 2025 at 8.30 a.m. EEST. The company release of the Half-yearly Financial Report will be available after publishing on the company's website https://investors.fondia.com/fi/en/releases-and-publications/reports-and-presentations.
Fondia will present a business review on the same day at 10.00 a.m. EEST. The event will be held in Finnish and can be attended online by registering at
https://player.videosync.fi/fondia/2025-h1-katsaus.
The recording of the event and the presentation material will be available later on the same day on company's website https://investors.fondia.com/fi/en/releases-and-publications/reports-and-presentations.
Helsinki, 21 August 2025
Fondia Plc
Board of Directors
For further information, please contact:
Timo Lappi, CEO, tel. +358 40 756 7809
Harri Savolainen, CFO, tel. +358 40 502 1919
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 5204098
Fondia in brief
Fondia solves the legal needs of companies by combining the best services from internal legal departments and law firms. Fondia operates in Finland, Sweden, Estonia, and Lithuania. Fondia employs around 170 people. The Group's net sales in 2024 were EUR 25.6 million.
www.fondia.com
Distribution:
Nasdaq Helsinki Ltd
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