Fondia Plc
Company release
2025-10-23 at 8.30 a.m. EEST
The company complies with the Securities Markets Act half-yearly reporting and publishes business reviews for the first three and nine months of the year, presenting key information on the company's financial performance. The financial information presented in this Business Review is unaudited.
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".
Financial development in July-September and in January-September 2025
| GROUP | 7-9/2025 | 7-9/2024 | 1-9/2025 | 1-9/2024 |
| Net sales, MEUR | 4.9 | 5.3 | 17.6 | 19.1 |
| Change in net sales % | -7.0% | -0.3% | -7.8 % | 1.2% |
| EBITDA, MEUR | 0.3 | 0.2 | 0.8 | 1.4 |
| EBITDA % | 6.6% | 3.2% | 4.7 % | 7.5% |
| Adjusted EBITDA, MEUR* | 0.3 | 0.2 | 1.3 | 1.6 |
| Adjusted EBITDA %* | 6.6% | 4.5% | 7.1 % | 8.3% |
| Operating profit EBIT, MEUR | 0.1 | -0.1 | 0.1 | 0.8 |
| Operating profit EBIT % | 1.4% | -1.2% | 0.7% | 4.0% |
| Adjusted operating profit EBIT, MEUR* | 0.1 | 0.0 | 0.5 | 0.9 |
| Adjusted operating profit EBIT %* | 1.4% | 0.0% | 3.1% | 4.8% |
| Number of employees FTE, period average | 137 | 158 | 144 | 163 |
| Number of employees FTE, change in period average % | -13.3% | -6.5% | -11.7% | 0.0% |
*No items affecting comparability were recorded in July-September 2025. In the comparison period, EUR 89 thousand in non-recurring expenses related to the change of the Swedish Managing Director were recorded.
*Items affecting comparability EUR 425 were recorded in January-September 2025. All non-recurring expenses for the reporting period are related to organizational restructuring in Finland. In the comparison period, EUR 173 thousand in non-recurring expenses related to the change of the Swedish Managing Director 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 early part of the year, we succeeded in stabilizing our operations and laying the foundations for the future. In the reporting period, we managed to turn around profitability, although our growth challenges in the Group still continued and there is still work to be done to improve growth and profitability. Group net sales decreased by 7.0% compared to the comparison period in July-September and below our expectations, especially in the Finnish and Swedish businesses, where we did not succeed in acquiring new customers at a sufficient level. Also, the uncertain market situation continued to have a weakening impact on the demand for our legal services. During the reporting period, the EBITDA and operating profit margins adjusted for non-recurring items have improved moderately, although for the whole first half of the year, we are still slightly behind compared to the comparison period.
The results of the customer and employee satisfaction surveys carried out during the reporting period were somewhat mixed. The good customer satisfaction survey NPS score 68 (61) supports our strategic choices for high-quality customer work and service model. In addition, the results also provided us with confirmation and further insight for the development of our operations. The employee satisfaction survey eNPS score decreased modestly and was 17 (19), which was a slight disappointment.Our financial performance and the measures taken to improve profitability inevitably also had an impact on our eNPS results. As part of the employee satisfaction survey, we also received positive signals indicating that the actions taken to develop employee satisfaction are heading in the right direction.
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."
July-September 2025
The Group's net sales decreased by 7.0% in July-September compared to the comparison period. Net sales in Finland decreased by 8.1% during the reporting period compared to the comparison period. Our international net sales also decreased by 2.8% in July-September. Growth continued in the Baltics and was 23.5%, but in Sweden, our net sales decreased by 8.6% compared to the comparison period. The Group's adjusted EBITDA margin (EBITDA-%) for July-September was 6.6% (4.5) and the adjusted operating margin (EBIT-%) was 1.4% (0.0).
January-September 2025
The Group's net sales decreased by 7.8% in January-September compared to the comparison period. Net sales in Finland decreased by 11.0% during the reporting period compared to the comparison period. Our international net sales increased by 1.1% in January-September. In Sweden, our net sales decreased by 1.5%, while growth in the Baltics was 15.5% compared to the comparison period. The Group's adjusted EBITDA margin (EBITDA-%) for January-September was 7.1% (8.3) and the adjusted operating margin (EBIT-%) was 3.1% (4.8).
Investor communications
Fondia will publish the Business Review for July-September 2025 on Thursday 23 October 2025 at 8.30 a.m. EEST. The company release on the Business Review will available after publication 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://events.inderes.com/fondia/2025-q3.
The recording of the event and the presentation material will be available later on the same day on the company's website https://investors.fondia.com/fi/en/releases-and-publications/reports-and-presentations.
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 50 520 4098
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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