Sitowise's Half-year report January-June 2026: Net sales increased slightly, Q2 adjusted EBITA margin was 7.4%
Sitowise Group Plc, Half-year report 1 January – 30 June 2026, 12 August 2026 at 8:30 am EEST
This release is a summary of Sitowise Group Plc’s Half-Year Report January-June 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
Sitowise Group Plc announced on 9 June 2026 that it had signed an agreement on the sale of its Swedish subsidiary, Sitowise Sverige AB (the Swedish business area). The sale was completed on 31 July 2026. Sitowise presents Sitowise Sverige AB as a discontinued operation starting from the interim report for the second quarter of 2026. The financial information presented in this report relates to continuing operations unless otherwise stated. Comparative figures have been adjusted accordingly, except for the balance sheet, which has not been restated in accordance with IFRS 5. Sitowise published restated financial information for 2025 and for January–March 2026 on 10 August 2026.
April–June 2026 in brief
- Net sales increased by 1.2% to EUR 43.1 (42.6) million.
- Adjusted organic net sales growth was 1.4% (1.5%).
- Adjusted EBITA was EUR 3.2 (3.2) million, or 7.4% (7.4%) of net sales.
- Operating result decreased to EUR 1.2 (2.0) million, or 2.8% (4.7%) of net sales.
- Cash flow from operating activities before financial items and taxes was 1.3 (7.2) million euros.
- Utilization rate totaled 74.2% (74.7%).
- Sitowise announced on 9 June 2026 that it had signed an agreement on the sale of its subsidiary, Sitowise Sverige AB (the Sweden business area). The sale was completed on 31 July 2026.
January–June 2026 in brief
- Net sales increased by 0.8% to EUR 84.4 (83.7) million.
- Adjusted organic net sales growth was 0.8% (0.4%).
- Adjusted EBITA was EUR 5.7 (6.3) million, or 6.8% (7.6%) of net sales.
- Operating result decreased to EUR 2.0 (3.1) million, or 2.4% (3.7%) of net sales.
- Cash flow from operating activities before financial items and taxes was 3.1 (7.7) million euros.
- Utilization rate improved to 73.7% (73.4%).
- Order book increased by 4.9% to 145 (138) million euros.
- Leverage (net debt / EBITDA, adjusted) was 4.2x (4.9x).
The figures in the Half-year 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 | 4-6/2026 | 4-6/2025 | Change, % | 1-6/2026 | 1-6/2025 | Change, % | 1-12/2025 |
| FINANCIAL | |||||||
| Net sales | 43.1 | 42.6 | 1.2% | 84.4 | 83.7 | 0.8% | 162.3 |
| Adjusted organic growth, % | 1.4% | 1.5% | 0.8% | 0.4% | 0.5% | ||
| EBITA, adjusted | 3.2 | 3.2 | 0.8% | 5.7 | 6.3 | -9.9% | 12.2 |
| % of net sales | 7.4% | 7.4% | 6.8% | 7.6% | 7.5% | ||
| EBITA | 2.1 | 2.9 | -29.6% | 3.7 | 4.9 | -23.8% | 10.4 |
| Operating profit | 1.2 | 2.0 | -40.1% | 2.0 | 3.1 | -35.5% | 6.8 |
| % of net sales | 2.8% | 4.7% | 2.4% | 3.7% | 4.2% | ||
| Result for the period | -0.2 | 0.4 | -145.6% | -0.8 | 0.1 | -684.7% | 1.1 |
| Cash flow from operating activitiesbefore financial items and taxes | 1.3 | 7.2 | -82.6% | 3.1 | 7.7 | -59.1% | 18.8 |
| Net debt | 69,9 | 81.7 | -5.2% | 72.6 | |||
| Net debt / EBITDA, adjusted | 4.2x | 4.9x | 4.3x | ||||
| Equity ratio, % | 33.1% | 43.1% | 33.4% | ||||
| Earnings per share (EPS), EUR | -0.01 | 0.01 | -147.4% | -0.02 | 0.00 | -689.1% | 0.03 |
| OPERATIONAL | |||||||
| Number of full-time equivalent employees | 1,516 | 1,581 | -4.1% | 1,498 | 1,512 | -0.9% | 1,494 |
| Utilization rate | 74.2% | 74.7% | 73.7% | 73.4% | 73.8% | ||
| Number of working days | 60 | 60 | 122 | 122 | 250 | ||
| Order book at the end of period | 145 | 138 | 4.9% | 145 | 138 | 4.9% | 141 |
Comparison periods balance sheet figures have not been restated with Sweden business area divestment.
Acting CEO Jannis Mikkola: The Sweden divestment enables a stronger focus on profitability improvement, sustainable growth and technology advancement
The most significant event of the second quarter was the sale of Sitowise’s Swedish technical consulting business, subsidiary Sitowise Sverige AB, which was announced in June. The transaction was completed after the review period on 31 July 2026. The divestment supports the allocation of capital and resources to businesses where we see the strongest potential for profitable growth and long-term value creation. We will not exit the Swedish market entirely; our Digital Solutions business will continue to operate in Sweden and pursue growth in product business.
For our continuing operations, Sitowise’s operating environment remained mixed during the review period. The market for Infra business area continued to be stable, while data center projects supported demand, particularly in the Buildings business area. At the same time, the broader construction market remained weak, and market conditions in Digital Solutions business area continued to be challenging.
The Group’s net sales increased by 1.2 per cent to EUR 43.1 million in April–June. Adjusted organic growth was 1.4 per cent. Adjusted EBITA was EUR 3.2 million, in line with the comparison period, resulting in an adjusted EBITA margin of 7.4 percent. Following the project write-downs recorded in the first quarter, second-quarter performance reflected a stabilization of operational business performance.
The most positive development during the review period related to order intake and the order book. Order intake increased significantly both from the previous quarter and the comparison period, amounting to EUR 50.8 million. At the end of June, the Group’s order book stood at EUR 145.3 million, up 4.9 per cent year-on-year. The strengthened order book provides a better foundation for the second half of the year.
Infra continued its strong performance. Net sales increased year-on-year, and profitability remained at a good level. Performance was supported by stable demand, success in project sales, and road and rail projects won during 2025. Infra's strong performance is an important contributor to Sitowise's overall development in the current market environment.
In Buildings, market conditions remained weak overall, which was reflected in lower net sales year-on-year. At the same time, growth in the data center market created new opportunities and supported the development of order intake. We continue our focused efforts to improve project and resource management and to strengthen profitability in the Buildings business.
The operating environment for Digital Solutions remained challenging, and net sales declined slightly year-on-year. During the review period, restructuring measures were implemented to improve efficiency and to adapt operations to prevailing demand levels. At the same time, we continued to develop our product business and strengthen both customer projects and SaaS offerings.
We invested significantly in the execution of the strategic priorities announced in March by launching several key development initiatives. In strategy implementation, the focus was on technology development. Regarding AI, we are currently transitioning towards solutions that deliver measurable customer and business value. To build our organization technology and AI capabilities further, we clarified during the review period Sitowise’s AI direction and roadmap, defined clearer responsibilities and operating models for technology and AI activities, and reorganized IT into a broader Technology function. We also renewed the sales organization of the technical consulting business to become more customer-centric, intensified measures to improve project profitability, and initiated the preparation of a new sustainability program.
The market outlook remains uncertain. Public sector budget constraints continue to limit investment growth, particularly in infrastructure-related urban development projects and municipal software development and IT projects. However, the long-term urbanization trend supports stable demand in the Infra business. Longer term investment trends continue to support demand in areas such as data centers, energy, security, digitalization, and sustainability and environmental services. The recovery of the broader construction market remains slow and its timing uncertain. Consequently, during the remainder of the year we will focus particularly on improving profitability, strengthening project and resource management, enhancing cost efficiency, and expanding our position in selected growth segments.
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 business area while demand for municipal infrastructure projects has softened. 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. A modest recovery in renovation construction is expected to generate slight growth compared with the previous year.
After the divestment of the Swedish business area, Sitowise will continue its operations in Sweden within the Digital Solutions business area. The market environment for Digital solutions in Finland and Sweden is expected to remain challenging.
So far, the direct impacts of the war in Iran on our operations and customer demand have been limited. 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 June, order books were at a good level in the Infra and Digital solutions businesses. In the Buildings business area order book was at a low level. In addition to the market development, cost inflation (e.g., relating to salary increases), 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 than in 2025 (even number of working days in Q1, Q2 and Q3 and +1 day in Q4).
Market outlook and current profitability
| Share of net sales | Market outlook | Current profitability | |
| Infra | 47% | Stable | Above target |
| Buildings | 32% | Weak (improving) | Clearly below target |
| Digital Solutions | 21% | Weak | Below target |
| Period: | Q2 2026 | Next 12 months | Q2 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 recovery in Finland 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.
Significant events after the review period
The sale of subsidiary Sitowise Sverige AB to Sweco was concluded on 31 July 2026.
The restated financial figures for the continuing business were disclosed on 10 August 2026.
Espoo, 12 August 2026
Sitowise Group Plc
Board of Directors
Additional information
Jannis Mikkola, Acting CEO, jannis.mikkola@sitowise.com, tel. +358 40 747 9670
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
Audiocast for analysts, media and investors
Sitowise’s Q2 2026 earnings call will be held today, 12 August 2026 at 12 pm EEST. The audiocast can be accessed either live or as a replay available at https://events.inderes.com/sitowise/2026-q2-results
Financial calendar 2026
The planned publication dates for Sitowise Group Plc’s financial reports are as follows:
- 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 three business areas: Infra, Buildings and Digital solutions. The Group’s restated net sales in 2025 were EUR 162 million, and the company employs approximately 1,700 experts. Sitowise Group Plc is listed on the Nasdaq Helsinki stock exchange under the trading symbol SITOWS.