Sitowise Group Plc, Interim report 1 January - 31 March 2026, 6 May 2026 at 8:30 am EEST
This release is a summary of Sitowise Group Plc's Interim Report January-March 2026. The complete report is attached to this release as a PDF file, and also available on the company's website at www.sitowise.com/investors/reports-and-presentations
January-March 2026 in brief
- Write-downs related to old projects in the Buildings business burdened net sales and profitability during the review period. Despite this, net sales increased by 1.8% to EUR 49.0 (48.1) million.
- Adjusted organic net sales growth was 0.7% (-6.3%).
- Adjusted EBITA was EUR 1.9 (2.4) million, or 3.8% (5.1%) of net sales.
- Operating result increased to EUR 0.0 (-0.3) million, or 0.0% (-0.6%) of net sales.
- Cash flow from operating activities before financial items and taxes was 1.9 (0.5) million euros.
- Utilization rate improved to 73.2% (71.6%).
- Order book decreased by 4.4% to 150 (157) million euros. Suspended projects in the Buildings business area with a total value of EUR 6.9 million were removed from the order book.
- Leverage (net debt / EBITDA, adjusted) was 4.5x (5.1x).
The figures in the interim report are unaudited. Comparative figures for the corresponding period of the previous year are in brackets. The figures disclosed in the report are rounded so the sum of individual figures can deviate from the reported sum. This report has been published in Finnish and English. If there are any differences between the English translation and the original Finnish version, the Finnish report shall prevail.
Key figures
| EUR million | 1-3/2026 | 1-3/2025 | Change, % | 1-12/2025 |
| FINANCIAL | ||||
| Net sales | 49.0 | 48.1 | 1.8% | 188.6 |
| Adjusted organic growth, % | 0.7% | -6.3% | -2.2% | |
| EBITA, adjusted | 1.9 | 2.4 | -22.8% | 8.9 |
| % of net sales | 3.8% | 5.1% | 4.7% | |
| EBITA | 0.9 | 0.8 | 18.6% | 6.2 |
| Operating profit | 0.0 | -0.3 | 93.2% | -37.5 |
| % of net sales | 0.0% | -0.6% | -19.9% | |
| Result for the period | -1.3 | -1.4 | 6.4% | -42.4 |
| Cash flow from operating activitiesbefore financial items and taxes | 1.9 | 0.5 | 306.3% | 18.8 |
| Net debt | 73.6 | 86.1 | -14.6% | 72.6 |
| Net debt /EBITDA, adjusted | 4.5x | 5.1x | 4.3x | |
| Equity ratio, % | 33.7% | 43.4% | 33.4% | |
| Earnings per share (EPS), EUR | -0.04 | -0.04 | 6.4% | -1.18 |
| OPERATIONAL | ||||
| Number of full-time employees | 1,710 | 1,740 | -1.7% | 1,722 |
| Utilization rate | 73.2% | 71.6% | 73.3% | |
| Number of working days | 62 | 62 | 250 | |
| Order book at the end of period | 150 | 157 | -4.4% | 152 |
CEO Anna Wäck: Good operational performance in Q1 was offset by write-downs related to older projects
Sitowise's market environment remained mixed in the first quarter of the year. Data centers, projects related to the green transition, and security continued to stand out as clear growth segments, while demand for services linked to the construction market and municipal-sector projects remained subdued. Highlights of the quarter included increasing utilization rate in all business areas, progress in growth segments sales and improved employee satisfaction.
Growth was driven primarily by the continued strong growth in the Infra business, supported by road and rail projects secured in 2025. In Sweden, net sales grew compared with the comparison period, reflecting an improved order intake in the previous quarter and positive sales development during the period. The market environment for Digital Solutions business remained challenging, and net sales were in line with the comparison period.
The prolonged weakness in the construction market has weighed on the performance of the Buildings and Sweden business areas in recent years, resulting in project suspensions and increased price competition. During the quarter, we conducted a thorough review of the project portfolio, focusing on the Buildings business area. Consequently, write-downs impacting net sales were carried out, mainly relating to older building services engineering and structural engineering projects. The review led to cleaner project portfolio, creating foundations for healthier business development going forward. As a result, net sales in the Buildings business were down by approximately 6% year-on-year.
The Group's adjusted EBITA margin was 3.8% (5.1). Excluding project write-downs, the Group's adjusted EBITA margin would have improved year-on-year.
In March 2026, we published Sitowise's updated purpose and vision, new strategic focus areas, and revised mid-term financial targets. Our strategic focus areas are designed to support profitable growth in a changing market environment, with a clear emphasis on strengthening our experts' capabilities, responding to evolving customer needs, developing our digital capabilities, leveraging technology and artificial intelligence, and improving operational efficiency.
From a growth perspective, we see the strongest opportunities in segments supported by long-term investment trends. During the review period, data centers emerged as one of the most important growth drivers, particularly in the Buildings and Infra businesses, and demand is expected to continue to support revenue development going forward. In technical consulting in Finland and Sweden, we are also pursuing growth in industry, energy, defense and security-related projects, as well as sustainability and environmental services. In Digital Solutions, the focus is specifically on scaling the product business, and cross-selling solutions across different markets.
During the quarter, Sitowise's Group Management Team underwent almost a complete renewal. The new team has progressed rapidly in its onboarding and is fully committed to executing the company's strategy and strengthening performance across the Group. In 2026, our key priorities are improving Group profitability, delivering a turnaround in the Swedish business, and strengthening our strategic growth areas. We will continue our determined efforts to improve project and resource management, enhance cost efficiency, and leverage technology - including artificial intelligence and automation - to support business development. Through these actions, we aim to secure Sitowise's long-term competitiveness and our ability to create sustainable value for customers and stakeholders.
Outlook and guidance
Outlook for the year 2026
The long-term growth in the demand for design, consulting, and digital services to create sustainable societies is supported by megatrends such as urbanization, renovation backlog, sustainability, digitalization, and security.
We expect the technical consulting market environment to remain mixed in 2026. Healthy demand for services related to green transition, security, and digitalization will support business performance especially in the Infra and Digital Solutions business areas. In the Buildings business area, growth in the data center market is creating new demand, while the broader construction market is expected to remain weak. Historically low residential construction volumes continue to limit demand related to newbuild projects, whereas a modest recovery in renovation construction is expected to generate slight growth compared with the previous year.
In the Sweden business area, Sitowise has decisively implemented planned improvement measures and expects these to gradually enhance performance. The Swedish construction market has shown gradual signs of recovery in early 2026; however, market development remains subject to considerable uncertainty.
So far, the impacts of the war in Iran on our operations and customer demand have been limited, but an escalation of the geopolitical situation could slow overall economic growth in our home markets in 2026 and delay the recovery of the construction market. At the same time, the prevailing situation may create new opportunities, particularly in the energy and security sectors.
Artificial intelligence and automation are expected to become increasingly visible across the industry in 2026. Technological developments support improvements in efficiency and quality, while at the same time reshaping ways of working and requiring further development of skills, data management and operating models.
At the end of March, order books were at a good level in the Infra and Digital Solutions businesses. In the Buildings and Sweden business areas, order books remained at low levels.
In addition to the market development, cost inflation (e.g., relating to salary increases), potential currency fluctuations (EUR/SEK) and Sitowise's financing expenses are expected to impact the company's financial performance in 2026. In 2026, there will be one working day more in Finland and two days more in Sweden compared to 2025 (even number of working days in Q1, Q2 and Q3 in both countries and +1 day in Q4 in Finland and +2 days in Q4 in Sweden).
Market outlook and current profitability
| Share of net sales | Market outlook | Current profitability | |
| Infra | 38% | Stable | Above target |
| Buildings | 27% | Weak (improving) | Negative |
| Digital Solutions | 19% | Stable | Below target |
| Sweden | 16% | Weak (improving) | Negative |
| Period: | Q1 2026 | Next 12 months | Q1 2026 |
| Definitions: | % of consolidated net sales | Strong / Stable / Weak | Adj. EBITA-%: Above: >12%; In line: 10-12%; Below: 5-10%; Clearly below: 0-5%; Negative <0% |
No guidance issued for 2026
Due to the unpredictable timing of construction market recoveries both in Finland and Sweden there is significant uncertainty related to Sitowise's net sales development in 2026. Therefore, Sitowise has decided not to give net sales and profitability guidance for 2026.
Espoo, 6 May 2026
Sitowise Group Plc
Board of Directors
Additional information
Anna Wäck, CEO, anna.wack@sitowise.com, tel. +358 40 670 8282
Sanna Sormaala, CFO, sanna.sormaala@sitowise.com, tel. +358 50 452 5498
Mari Reponen, Director, Strategy and IR, mari.reponen@sitowise.com, tel. +358 40 702 5869
Webcast for analysts, media and investors
Sitowise's Q1 2026 earnings webcast will be held today, 6 May 2026 at 12 pm EEST. The webcast can be accessed either live or as a replay available at https://rajucast.tv/en/sitowise/sitowise-q1-2026-result-webcast/
Financial calendar 2026
The planned publication dates for Sitowise Group Plc's financial reports are as follows:
- Half-year Report for January-June 2026: 12 August 2026
- Interim Report for January-September 2026: 5 November 2026
The financial reports are planned to be published at 8.30 a.m. (EET/EEST). Sitowise observes a silent period of 30 days prior to publishing financial reports.
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 four business areas: Infra, Buildings, Digital solutions and Sweden. The Group's net sales in 2025 were EUR 189 million, and the company employs approximately 1,900 experts. Sitowise Group Plc is listed on the Nasdaq Helsinki stock exchange under the trading symbol SITOWS.
