Summa Defence Plc Company announcement, inside information 20 October 2026 at 20:30 EEST
Summa Defence Plc announced on 30 September 2026 that its subsidiary Uudenkaupungin Työvene Oy has been awarded a public tender issued by DAB Vloot (Maritime and Coastal services agency) on behalf of the Flemish Region for the design and construction of SWATH vessels for operations in the North Sea, however an unsuccessful tenderer has lodged an application for suspension against the award decision and the related selection decision before the Belgian Council of State.
Summa Defence has been informed that the Belgian Council of State has today, on 20 October 2026, ordered the suspension of the procurement award decision concerning SWATH vessels awarded to Uudenkaupungin Työvene Oy. In its decision, the Belgian Council of State has suspended both the award decision and the earlier decision selecting Uudenkaupungin Työvene Oy to participate in the procurement procedure.
The ruling concerns the contracting authority's assessment of whether a certain reference submitted by Uudenkaupungin Työvene Oy satisfy a selection criterion. The Council of State found that the contracting authority had not sufficiently demonstrated that it had examined this reference in the light of one selection criterion.
The ruling does not constitute a final determination that Uudenkaupungin Työvene Oy fails to meet the selection criterion. However, as a result of the suspension, the procurement contract cannot currently be concluded on the basis of the existing award decision.
The contracting authority DAB Vloot will determine in its discretion the next steps in the procurement procedure. At this stage, the timetable and outcome of the procurement remain uncertain.
No contract had been concluded based on the award decision announced on 30 September 2026, and the procurement had therefore not become a binding order for Uudenkaupungin Työvene Oy. The ruling does not therefore result in the cancellation of an existing contract.
The suspension does not change Summa Defence's financial guidance for 2026.
Summa Defence will provide further information if and when material developments occur.
"We are disappointed by the suspension of the procurement decisions. We remain confident in our technical capabilities and the suitability of our solution for the Belgian customer's requirements", says Juha Granqvist, CEO of Uudenkaupungin Työvene Oy.
SUMMA DEFENCE PLC
Board of Directors
Further information:
Robert Blumberg, CEO
Tel: +358 40 839 7408
Email: robert.blumberg@summadefence.com
Summa Defence in brief
Summa Defence Plc is a Finnish defence and security technology group whose mission is to create a strong industrial foundation from innovative defence and dual-use technology companies to strengthen the comprehensive security of society. Summa Defence operates in three focus areas: maritime technologies, land technologies and new technologies. The company's vision is to be a forerunner in comprehensive security.
The shares of Summa Defence Plc are listed on Nasdaq First North Growth Market in Sweden (SUMMAS) and Finland (SUMMA). www.summadefence.fi/en/
The Company's Certified Adviser is Augment Partners AB, info@augment.se, tel. +46 8 604 22 55.
