Solwers Plc, Company Release, May 12, 2026, at 09:00 EEST
Solwers Plc is updating its EBITA calculation method to align with market practice. Due to the technical update to the EBITA calculation method, the company makes a corresponding adjustment to its mid-term EBITA margin target, while the target level of the profitability target remains unchanged. In addition, Solwers is introducing new alternative performance measures (APMs): adjusted EBITA, adjusted EBITA margin and ROCE. The aim is to increase transparency and help investors compare the company's profitability over a longer period and against peers.
The company publishes the definitions of the APMs used and comparable historical reconciliations to reported figures.
Updated EBITA calculation method and introduction of adjusted EBITA as a new alternative performance measure
Under the updated calculation method, the company's EBITA includes depreciation of right-of-use assets related to buildings and properties recognised under IFRS 16, which was excluded from the company's previously described EBITA calculation method.
At the same time, the company is introducing adjusted EBITA and adjusted EBITA margin as new alternative performance measures to describe operational performance. Adjusted EBITA is derived from EBITA by adjusting for items affecting comparability (IAC).
Historically, the reported EBITA margin over a 24-month review period (Q1/2024-Q4/2025) has been, on average, approximately three percentage points higher than the EBITA margin under the updated calculation method.
The following table shows comparable historical reconciliations between Solwers' reported EBITA, updated EBITA and adjusted EBITA together with margins, on a quarterly basis.
| Solwers' adjusted EBITA, QTD | ||||||||
| 2024 | 2025 | |||||||
| TEUR | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 |
| EBITA (previous calculation method) | 1,531 | 1,728 | 1,211 | 1,035 | 877 | 944 | 1,189 | 1,017 |
| EBITA-% (previous calculation method) | 8.0% | 8.4% | 7.3% | 4.8% | 4.3% | 4.3% | 6.8% | 4.9% |
| Depreciation of right-of-use assets (premises) | -560 | -618 | -634 | -649 | -712 | -709 | -743 | -720 |
| EBITA (updated calculation method) | 971 | 1,110 | 577 | 386 | 165 | 235 | 447 | 298 |
| EBITA-% (updated calculation method) | 5.1% | 5.4% | 3.5% | 1.8% | 0.8% | 1.1% | 2.5% | 1.4% |
| IACs, total net | 111 | 355 | -331 | 319 | 268 | 482 | -35 | 111 |
| Adjusted EBITA | 1,083 | 1,464 | 247 | 706 | 434 | 717 | 412 | 409 |
| Adjusted EBITA-% | 5.6% | 7.1% | 1.5% | 3.2% | 2.1% | 3.3% | 2.3% | 2.0% |
Mid-term targets
Solwers replaces the 12% EBITA margin target presented in its mid-term targets with a 9% EBITA margin target. The company emphasizes that the level of the profitability target remains unchanged.
Solwers Plc's mid-term targets in full are:
- Growth: revenue growth of over 20% (12 months)
- Profitability: EBITA margin of 9%
- Equity ratio: over 40%
ROCE as a new alternative performance measure
Solwers is introducing return on capital employed (ROCE) as a new alternative performance measure. ROCE complements the profitability measures in financial reporting and supports the assessment of capital efficiency in line with the company's acquisition-driven growth strategy.
The following table shows Solwers' historical ROCE figures by quarter.
| ROCE, QTD | ||||||||
| 2024 | 2025 | |||||||
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
| Solwers' ROCE | 8.2% | 7.7% | 7.5% | 5.6% | 4.9% | 3.7% | 3.3% | 2.8% |
Formulas for the alternative performance measures (APMs):
- EBITA = operating profit + amortisation of intangible assets
- Adjusted EBITA = EBITA +/- items affecting comparability (IAC)
- Adjusted EBITA% = Adjusted EBITA / Revenue x 100
- Items affecting comparability (IAC) = items that are not considered part of the Group's normal, recurring operations. These consist of M&A related costs (including movements in contingent consideration liabilities), capital market transaction costs, restructuring and integration costs, exceptional income and expenses arising from claims, credit losses, and other comparable items.
- Return on capital employed (ROCE), % = (profit before taxes + finance costs), last 12 months / (total assets - non-interest-bearing liabilities), average
Board of Directors
Solwers Plc
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Enquiries: Jasmine Jussila, Chief Communications Officer, Solwers Plc, jasmine.jussila@solwers.com, tel. + 358 40 500 4760
Certified Advisor: UB Corporate Finance Oy, ubcf@unitedbankers.fi
Distribution:
- Nasdaq Helsinki Oy
- Key media
- www.solwers.com
SOLWERS PLC IN BRIEF
Solwers is a group of consultancy companies that offer architectural design, technical and other consulting as well as project management services locally, close to clients. Solwers' strategy is based on acquisitions and organic growth, the group's attractiveness as a good employer for professionals in different fields and the continuous development of expertise. The Solwers Group comprises 29 companies that operate under their own brands and employ more than 700 experts in Finland, Sweden and Poland. | solwers.com
