File
Sitowise's restated financial information for 2025 and the first quarter of 2026, with Sitowise Sverige AB presented as a discontinued operation following the divestment
Sitowise Group Plc Other information disclosed according to the rules of the Exchange 10 August 2026 at 10.45 a.m.
Sitowise Group Plc announced on 9 June 2026 that it had signed an agreement on the sale of its Swedish subsidiary, Sitowise Sverige AB (the Swedish business area). The sale was completed on 31 July 2026. Sitowise presents Sitowise Sverige AB as a discontinued operation starting from the interim report for the second quarter of 2026.
In accordance with IFRS 5, Non-current Assets Held for Sale and Discontinued Operations, the profit or loss from the discontinued operation is presented separately from income and expenses of continuing operations in the consolidated income statement, with prior periods restated for comparison. Intra-group revenues and expenses between continuing and discontinued operations are eliminated.
The discontinued operation comprises revenue and operating expenses directly attributable to the Sweden business area, together with costs related to continuing operations that will not continue after the sale transaction or that would have been avoided had the sale occurred. Certain costs incurred from the design software used by the Sweden business area are excluded from the discontinued operation. As a result, the financial information shown for continuing operations and for the Sweden business area (as discontinued operations) does not fully reflect the standalone historical or future profitability of either business before or after the divestment.
In accordance with IFRS 5, the statement of financial position for the comparison year is not restated.
The figures in this release are unaudited.
Sitowise Group Plc
Additional information:
Sanna Sormaala, CFO, tel. +358 50 452 5498
Distribution
Nasdaq Helsinki Ltd
Key media
www.sitowise.com
Sitowise in brief
Sitowise is a Nordic expert in technical consulting and digital solutions. Our mission is to engineer the foundation of Nordic resilience. We design infrastructure, buildings and cities that stand the test of time and change. We enhance society's operational reliability by developing critical infrastructure and ensure the sustainable use of the environment and natural resources. We operate in three business areas: Infra, Buildings and Digital solutions. The Group's restated net sales in 2025 were EUR 162 million, and the company employs approximately 1,700 experts. Sitowise Group Plc is listed on the Nasdaq Helsinki stock exchange under the trading symbol SITOWS.
Restated financial information for 1-3/2026 and 2025
The figures are unaudited
SITOWISE KEY FIGURES (restated)
| EUR million | 1-3/2026 | 1-3/2025 | 4-6/2025 | 7-9/2025 | 10-12/2025 | 1-12/2025 |
| FINANCIAL | ||||||
| Net sales | 41.2 | 41.1 | 42.6 | 35.7 | 42.8 | 162.3 |
| Adjusted organic growth, % | -0.3% | -1.1% | 1.5% | -1.8% | 2.1% | 0.5% |
| EBITA, adjusted | 2.5 | 3.2 | 3.2 | 3.1 | 2.7 | 12.2 |
| % of net sales | 6.2% | 7.8% | 7.4% | 8.8% | 6.2% | 7.5% |
| EBITA | 1.7 | 2.0 | 2.9 | 3.1 | 2.4 | 10.4 |
| Operating profit | 0.8 | 1.1 | 2.0 | 2.2 | 1.5 | 6.8 |
| % of net sales | 1.9% | 2.7% | 4.7% | 6.1% | 3.6% | 4.2% |
| Result for the period | -0.6 | -0.3 | 0.4 | 0.7 | 0.3 | 1.1 |
| Cash flow from operating activities before financial items and taxes | 1.9 | 0.5 | 7.2 | -2.9 | 14.1 | 18.8 |
| Net debt | 73.6 | 86.1 | 81.7 | 86.9 | 72.6 | 72.6 |
| Net debt / EBITDA, adjusted | 4.5x | 5.1x | 4.9x | 5.4x | 4.3x | 4.3x |
| Equity ratio, % | 33.7% | 43.4% | 43.1% | 44.6% | 33.4% | 33.4% |
| Earnings per share (EPS), EUR | -0.02 | -0.01 | 0.01 | 0.02 | 0.01 | 0.03 |
| OPERATIONAL | ||||||
| Number of full-time equivalent employees | 1,480 | 1,497 | 1,581 | 1,488 | 1,464 | 1,494 |
| Utilization rate | 73.2% | 72.1% | 74.7% | 74.3% | 74.1% | 73.8% |
| Number of working days | 62 | 62 | 60 | 66 | 63 | 250 |
| Order book at the end of period | 138 | 148 | 138 | 139 | 141 | 141 |
| CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (restated) | |||||||
| EUR thousand | 1-3/2026 | 1-3/2025 | 4-6/2025 | 7-9/2025 | 10-12/2025 | 1-12/2025 | |
| Net sales | 41,245 | 41,098 | 42,631 | 35,688 | 42,834 | 162,252 | |
| Other operating income | 142 | 106 | 78 | 112 | 102 | 398 | |
| Materials and services | -4,088 | -3,645 | -4,680 | -4,151 | -5,658 | -18,135 | |
| Employee benefits | -29,126 | -28,992 | -28,485 | -22,575 | -28,029 | -108,081 | |
| Other operating expenses | -5,236 | -5,131 | -5,256 | -4,609 | -5,441 | -20,454 | |
| Depreciation, amortization, and impairment | -2,143 | -2,347 | -2,294 | -2,304 | -2,279 | -9,209 | |
| Operating profit | 793 | 1,090 | 1,993 | 2,161 | 1,529 | 6,770 | |
| Financial income | 88 | 179 | 20 | 61 | 234 | 494 | |
| Financial expenses | -1,720 | -1,641 | -1,504 | -1,456 | -1,402 | -6,002 | |
| Result before taxes | -840 | -373 | 509 | 766 | 360 | 1,262 | |
| Income taxes | 196 | 102 | -91 | -113 | -35 | -142 | |
| Result for the period, continuing operations | -644 | -270 | 418 | 652 | 324 | 1,120 | |
| Result for the period, discontinued operations | -673 | -1,136 | -830 | -1,378 | -40,210 | -43,550 | |
| Result for the period | -1,317 | -1,407 | -412 | -725 | -39,886 | -42,431 | |
| Attributable to: | |||||||
| Owners of the parent | -1,317 | -1,407 | -412 | -725 | -39,886 | -42,431 | |
| Other comprehensive income: | |||||||
| Items that may be reclassified to profit or loss | |||||||
| Change in translation difference | -92 | 2,907 | -1,425 | 412 | 196 | 2,091 | |
| Cash flow hedging, net of tax | 190 | 31 | -65 | 130 | -165 | -70 | |
| Other change | 47 | 0 | 48 | 0 | 1,779 | 1,826 | |
| Total for items in other comprehensive income | 144 | 2,938 | -1,442 | 542 | 1,810 | 3,847 | |
| Total comprehensive income | -1,173 | 1,531 | -1,855 | -184 | -38,075 | -38,583 | |
| Comprehensive income attributable to: | |||||||
| Owners of the parent | -1,173 | 1,531 | -1,855 | -184 | -38,075 | -38,583 | |
| Total comprehensive income attributable to owners | |||||||
| of the Parent company arises from: | |||||||
| Continuing operations: | -491 | 177 | 191 | 843 | 2,103 | 3,309 | |
| Discontinued operations: | -682 | 1,353 | -2,045 | -1,027 | -40,178 | -41,893 | |
| Earnings per share: | |||||||
| Earnings per share | |||||||
| Continued operations | -0.02 | -0.01 | 0.01 | 0.02 | 0.01 | 0.03 | |
| Discontinued operations | -0.02 | -0.03 | -0.02 | -0.04 | -1.08 | -1.17 | |
| Diluted earnings per share | |||||||
| Continued operations | -0.02 | -0.01 | 0.01 | 0.02 | 0.01 | 0.03 | |
| Discontinued operations | -0.02 | -0.03 | -0.02 | -0.04 | -1.08 | -1.17 | |
Discontinued operations
| EUR thousand | 1-3/2026 | 1-3/2025 | 4-6/2025 | 7-9/2025 | 10-12/2025 | 1-12/2025 |
| Net sales | 7,721 | 7,024 | 7,188 | 4,757 | 7,364 | 26,333 |
| Other operating income | 13 | 51 | 1 | 24 | 29 | 76 |
| Materials and services | -860 | -908 | -1,069 | -551 | -971 | -3,498 |
| Employee benefits | -5,822 | -5,439 | -5,598 | -4,157 | -5,352 | -20,547 |
| Other operating expenses | -1,192 | -1,330 | -738 | -1,009 | -1,057 | -4,117 |
| Depreciation, amortization, and impairment | -670 | -754 | -749 | -745 | -40,312 | -42,575 |
| Operating profit | -811 | -1,357 | -965 | -1,682 | -40,299 | -44,329 |
| Financial income | 0 | -1 | 0 | 13 | 9 | 20 |
| Financial expenses | -98 | -115 | -99 | -94 | -101 | -412 |
| Result before taxes | -909 | -1,474 | -1,064 | -1,764 | -40,391 | -44,721 |
| Income taxes | 236 | 337 | 233 | 385 | 180 | 1,141 |
| Result for the period, discontinued operations | -673 | -1,136 | -830 | -1,378 | -40,211 | -43,580 |
| Other comprehensive income: | ||||||
| Items that may be reclassified to profit or loss | ||||||
| Change in translation difference | -9 | 2,490 | -1,215 | 351 | 32 | 1,658 |
| Cash flow hedging, net of tax | ||||||
| Other change | ||||||
| Total for items in other comprehensive income | -9 | 2,490 | -1,215 | 351 | 32 | 1,658 |
| Total comprehensive income, discontinued operations | -682 | 1,353 | -2,045 | -1,027 | -40,179 | -41,922 |
Financial information (restated)
| NET SALES | ||||||||||||||||||||||||
| EUR thousand | 1-3/2026 | 1-3/2025 | 4-6/2025 | 7-9/2025 | 10-12/2025 | 1-12/2025 | ||||||||||||||||||
| Infra | 18,756 | 17,642 | 19,208 | 16,108 | 20,209 | 73,167 | ||||||||||||||||||
| Talo | 13,177 | 14,175 | 14,056 | 11,270 | 13,265 | 52,766 | ||||||||||||||||||
| Digi | 9,311 | 9,282 | 9,367 | 8,310 | 9,361 | 36,320 | ||||||||||||||||||
| Total | 41,245 | 41,098 | 42,631 | 35,688 | 42,834 | 162,252 | ||||||||||||||||||
| Adjusted organic growth | ||||||||||||||||||||||||
| EUR thousand | 1-3/2026 | 1-3/2025 | 4-6/2025 | 7-9/2025 | 10-12/2025 | 1-12/2025 | ||||||||||||||||||
| Infra | 6% | 4% | 8% | 3% | 11% | 7% | ||||||||||||||||||
| Talo | -7% | -10% | -8% | -8% | -4% | -8% | ||||||||||||||||||
| Digi | -3% | 5% | 4% | -2% | -7% | 2% | ||||||||||||||||||
| Total | 0% | -1% | 1% | -2% | 2% | 1% | ||||||||||||||||||
| PERSONNEL | ||||||||||||||||||||||||
| 1-3/2026 | 1-3/2025 | 4-6/2025 | 7-9/2025 | 10-12/2025 | 1-12/2025 | |||||||||||||||||||
| Number of personnel, average | 1,620 | 1,721 | 1,720 | 1,688 | 1,646 | 1,694 | ||||||||||||||||||
| Number of personnel, at the end of the period | 1,615 | 1,715 | 1,716 | 1,676 | 1,633 | 1,633 | ||||||||||||||||||
Financial and alternative performance measures (restated)
| EUR thousand | 1-3/2026 | 1-3/2025 | 4-6/2025 | 7-9/2025 | 10-12/2025 | 1-12/2025 |
| Net sales | 41,245 | 41,098 | 42,631 | 35,688 | 42,834 | 162,252 |
| Growth in net sales, % | 0.4% | -2.0% | 0.6% | -1.0% | 3.8% | 0.4% |
| Adjusted organic growth in net sales, % | -0.3% | -1.1% | 1.5% | -1.8% | 2.1% | 0.5% |
| EBITA, adjusted | 2,537 | 3,189 | 3,160 | 3,133 | 2,675 | 12,154 |
| % of net sales | 6.2% | 7.8% | 7.4% | 8.8% | 6.2% | 7.5% |
| EBITA | 1,693 | 1,999 | 2,917 | 3,073 | 2,441 | 10,427 |
| Result for the period | -644 | -270 | 418 | 652 | 324 | 1,120 |
| Full-time equivalent (FTE), average | 1,480 | 1,497 | 1,581 | 1,488 | 1,464 | 1,494 |
| Utilization rate | 73.2% | 72.1% | 74.7% | 74.3% | 74.1% | 73.8% |
| Order book at the end of period | 137,559 | 147,610 | 138,471 | 139,027 | 141,090 | 141,090 |
RECONCILIATION OF ALTERNATIVE PERFORMANCE MEASURES (restated)
| EUR thousand | 1-3/2026 | 1-3/2025 | 4-6/2025 | 7-9/2025 | 10-12/2025 | 1-12/2025 | |
| Adjusted organic growth in net sales, % | |||||||
| Growth in net sales | 0% | -2% | 1% | -1% | 4% | 1% | |
| Impact of acquisitions | 0% | 0% | 0% | 0% | 0% | 0% | |
| Impact of number of working days | 0% | 1% | 2% | 0% | -1% | 0% | |
| Impact of exchange rates | -1% | 0% | -1% | -1% | -1% | 0% | |
| Adjusted organic growth in net sales, % | 0% | -1% | 1% | -2% | 2% | 0% | |
| EBITA | |||||||
| Operating profit (EBIT) | 793 | 1,090 | 1,993 | 2,161 | 1,529 | 6,770 | |
| Amortizations of intangible assets | -900 | -909 | -924 | -912 | -912 | -3,657 | |
| EBITA | 1,693 | 1,999 | 2,917 | 3,073 | 2,441 | 10,427 | |
| EBITA % | 4.1% | 4.9% | 6.8% | 8.6% | 5.7% | 6.4% | |
| Items affecting comparability | |||||||
| Restructuring costs | 442 | 1,186 | 190 | 26 | 159 | 1,560 | |
| M&A and integration costs | 402 | 4 | 0 | 0 | 0 | 4 | |
| Other, income (-) / costs (+) | 0 | 0 | 53 | 34 | 75 | 162 | |
| Items affecting comparability, EBITDA | 844 | 1,190 | 243 | 60 | 234 | 1,727 | |
| Items affecting comparability, depreciations | 0 | 0 | 0 | 0 | 0 | 0 | |
| Items affecting comparability, EBITA | 844 | 1,190 | 243 | 60 | 234 | 1,727 | |
| EBITA, adjusted | |||||||
| EBITA | 1,693 | 1,999 | 2,917 | 3,073 | 2,441 | 10,427 | |
| Items affecting comparability, EBITA | 844 | 1,190 | 243 | 60 | 234 | 1,727 | |
| EBITA, adjusted | 2,537 | 3,189 | 3,160 | 3,133 | 2,675 | 12,154 | |
| EBITA, adjusted % | 6.2% | 7.8% | 7.4% | 8.8% | 6.2% | 7.5% | |
| EBITDA | |||||||
| Operating profit (EBIT) | 793 | 1,090 | 1,993 | 2,161 | 1,529 | 6,770 | |
| Depreciation and amortization | -2,143 | -2,347 | -2,294 | -2,304 | -2,279 | -9,209 | |
| EBITDA 1 | 2,936 | 3,437 | 4,288 | 4,465 | 3,808 | 15,979 | |
| EBITDA % | 7.1% | 8.4% | 10.1% | 12.5% | 8.9% | 9.8% | |
| EBITDA, adjusted | |||||||
| Operating profit (EBIT) | 793 | 1,090 | 1,993 | 2,161 | 1,529 | 6,770 | |
| Depreciation and amortization | -2,143 | -2,347 | -2,294 | -2,304 | -2,279 | -9,209 | |
| EBITDA | 2,936 | 3,437 | 4,288 | 4,465 | 3,808 | 15,979 | |
| Items affecting comparability, EBITDA | 844 | 1,190 | 243 | 60 | 234 | 1,727 | |
| EBITDA, adjusted | 3,780 | 4,627 | 4,531 | 4,525 | 4,041 | 17,706 | |
Calculation of alternative performance measures
| Adjusted organic growth in net sales | = Growth in net sales excluding acquisitions and divestments adjusted by the number of working days and exchange rate impact | |
| EBITA | = Operating result + amortization of intangible assets | |
| EBITA, adjusted | = EBITA + items affecting comparability | |
| Utilization rate | = Number of project hours worked relative to the Number of hours worked | |
| Non-diluted earnings per share | = (Result for the period - non-controlling interest - dividend for the financial period to be distributed taking tax impact into consideration) / Average weighted number of shares | |
| Diluted earnings per share | = (Result for the period - non-controlling interest - dividend for the financial period to be distributed taking tax impact into consideration) / Average diluted weighted number of shares | |
| Full-time equivalent (FTE), average | = Group personnel, full-time equivalent average during the period | |
| Items affecting comparability | = Items affecting comparability are primarily costs associated with M&A and integration as well as restructuring | |