Netum Group Plc | Company announcement | 28 April 2026 at 8.00 a.m. EEST
Netum Group Plc's business review 1 January-31 March 2026: Revenue for January-March 2026 decreased 25.2%, EBITA 1.8% of revenue
This release is a summary of Netum's business review for January-March 2026. The complete report is attached to this release as a pdf file and available on the company's website at https://www.netum.fi/en/investors/reports-and-presentations/.
Unless otherwise stated, the figures in parentheses refer to the comparison period and are in the same unit as the figures for the review period. The figures for 2026 contained in this business review are unaudited.
January-March 2026 in brief
- Revenue decreased 25.2% on the comparison period and was EUR 8.4 (11.2) million
- EBITDA amounted to EUR 0.3 (1.3) million or 3.3 (11.7) % of revenue
- EBITA was EUR 0.2 (1.1) million or 1.8 (10.2) % of revenue
- Comparable EBITA was EUR 0.3 (1.1) million or 3.9 (10.2) % of revenue
- Operating profit was EUR 0.2 (1.1) million or 1.8 (10.2) % of revenue
- Result for the period was EUR -0.0 (0.8) million or -0.3 (7.1) % of revenue
Group key figures
| EUR thousand unless otherwise stated | 1-3/20261) | 1-3/20251) | Change | 1-12/2025 |
| Revenue | 8,359 | 11,175 | -25.2% | 37,814 |
| Revenue growth, per cent | -25.2% | -2.2% | -14.0% | |
| Organic growth, per cent | -25.2% | -2.2% | -14.0% | |
| EBITDA | 272 | 1,310 | -79.2% | 2,176 |
| EBITDA, % of revenue | 3.3% | 11.7% | 5.8% | |
| EBITA | 154 | 1,143 | -86.5% | 1,532 |
| EBITA, % of revenue | 1.8% | 10.2% | 4.1% | |
| Items affecting comparability | 171 | 0 | 0 | |
| Comparable EBITA2) | 325 | 1,143 | -71.6% | 2,081 |
| Comparable EBITA, % of revenue | 3.9% | 10.2% | 5.5% | |
| Operating profit (-loss) | 154 | 1,143 | -86.5% | 1,532 |
| Operating profit (-loss), % of revenue | 1.8% | 10.2% | 4.1% | |
| Basic earnings per share (EPS), EUR | 0.00 | 0.06 | 0.07 | |
| Diluted earnings per share (EPS), EUR | 0.00 | 0.06 | 0.07 | |
| Result for the reporting period | -25 | 796 | -103.1% | 858 |
| Result for the reporting period, % of revenue | -0.3% | 7.1% | 2.3% | |
| Number of employees, at the end of the period | 307 | 387 | 329 | |
| Overall capacity, own personnel (FTE), at the end of the period | 297 | 372 | 318 |
1) Unaudited
2) Items affecting comparability are presented in the table Comparable EBITA
Outlook for 2026 unchanged
Netum expects revenue to decline from the previous year's level (2025: 37.8 MEUR) and the comparable EBITA (2025: 5.5%) to remain at the previous year's level.
The guidance is particularly affected by the comparison impact caused by the completion of three very large projects in the previous year, which lowers revenue for 2026. It is not realistically possible to close this gap in the market during the first quarter. For this reason, the company expects revenue to remain below the previous year's level, even though a slight recovery in the market can be observed and the company's sales pace as well as pricing and profitability capabilities have improved.
The company expects profitability to remain at the previous year's level, supported by efficiency measures carried out, improved pricing and deal quality, and the development of delivery capability. However, the continuation of price competition in the market may affect the outcome.
Repe Harmanen, CEO:
As expected, the first quarter marked a transitional phase. The weaker result compared to the reference period reflects the strong performance of the comparison period, the low activity in the current market and the completion of last year's large projects. More importantly, sales performed clearly better than we expected, and demand has gradually increased. This provides a solid foundation for a stronger second half of the year.
Several major customer projects, both in scale and strategic importance, will kick off during the spring, as previously announced. These projects support revenue growth and enhance forward visibility. The structural changes implemented last year, such as clarifying the organisation, reorganising sales, and simplifying operating models, are already reflected in a sharper focus and in strengthened sales and delivery capabilities.
The market environment in Finland remains challenging, with continued price pressure. At the same time, demand for greater efficiency, data utilisation, and AI adoption continues to grow. In parallel, expectations around secure delivery and data protection are becoming increasingly central. For us, cybersecurity and data protection are not standalone elements, but a strategic, cross-cutting strength. This reinforces our decision to focus on data, integration, and AI solutions, as well as to expand our customer base into the private sector.
In AI we are taking the next significant step: establishing a company-wide, fully AI-assisted virtual team tasked with driving transformation across our operations, our customers, and our solutions. Our goal is to drive structural improvements in productivity and competitiveness. At the same time, we acknowledge that in many mission-critical environments, functional and security requirements set clear boundaries that will inevitably limit the use of fully AI-enabled approaches. This is also the right and responsible stance for our customers - compromising on these would have serious consequences.
In the second and third quarters, our focus will be on two parallel areas: the disciplined implementation of the current strategy and the defining the direction for the coming years. The goal is to ensure that we take advantage of the AI-driven transformation and structural changes in the market faster and more consistently than our competitors.
While the beginning of the year represents a transitional phase, the development in sales, the projects now kicking off, and a strengthening project pipeline support our view of clear progress towards a stronger second half of the year.
I want to thank our employees for their commitment and hard work. The change negotiations at the turn of the year are now behind us, and our focus is clearly on the road ahead. Together, we are building the next phase of Netum's development.
Wishing you an excellent spring and summer ahead of our half-year report in August.
Repe Harmanen
CEO
For further information, please contact:
Netum Group Plc
Repe Harmanen, CEO
+358 400 467 717
repe.harmanen@netum.fi
Certified Adviser:
Evli Plc
+358 40 579 6210
Netum Group Plc
Netum is an IT service partner that builds a functional and secure digital society. We help our customers develop their digital business by designing and implementing sustainable digital solutions tailored to their needs - wisely and responsibly. Netum employs approximately 330 people, and the Group's revenue in 2025 was EUR 38 million. Netum Group Plc's shares are listed on Nasdaq Helsinki First North (NETUM). www.netum.fi
