Solteq Oyj

Earnings Release • Aug 21, 2025

Solteq Plc's Half-Year Report January 1 - June 30, 2025

Solteq Plc's Half-Year Report January 1 - June 30, 2025

Stock Exchange Bulletin
Half-Year Report
August 21, 2025, at 8.00 am

Slight Improvement in Result - Stronger Outlook for the Rest of the Year

April-June

· Comparable revenue totaled EUR 12.1 million (12.9) and decreased by 5.6
percent. Revenue totaled EUR 12.2 million (13.4) and decreased by 9.3 percent
· Comparable EBITDA was EUR 0.4 million (0.5) and EBITDA EUR 0.5 million
(0.6). Comparable EBITDA percent was 3.4 (4.1)
· Comparable operating result was EUR 0.1 million (-0.1) and operating result
EUR 0.2 million
(0.0). Comparable operating result percent was 0.6 (-0.5)
· Earnings per share was EUR 0.00 (-0.03)

January-June

· Comparable revenue totaled EUR 24.3 million (25.9) and decreased by 6.4
percent. Revenue totaled EUR 24.3 million (27.0) and decreased by 10.0 percent
· Comparable EBITDA was EUR 1.0 million (0.8) and EBITDA EUR 1.1 million
(1.0). Comparable EBITDA percent was 3.9 (3.1)
· Comparable operating result was EUR 0.2 million (-0.4) and operating result
EUR 0.4 million
(-0.2). Comparable operating result percent was 0.8 (-1.4)
· Earnings per share was EUR -0.02 (-0.06)
· Solteq Group's equity ratio was 30.8 percent (29.8)
· Net cash flow from operating activities was EUR -0.4 million (1.2)
· Comparable revenue will decrease slightly, while the comparable operating
result will improve significantly. Excluding the divested healthcare software
solutions business, comparable revenue was EUR 48,818 thousand in the financial
year 2024. Comparable operating result for the financial year 2024 was EUR 710
thousand.

Key figures

        4-6/202  4-6/202  Change   1-6/202  1-6/202  Change  1-12/20

Rolling
% 4 % 24 12mos

        5        4                 5

Revenue, 12,155 13,398 -9.3 24,276 26,970 -10.0 50,869 48,175
TEUR
Comparable 12,145 12,865 -5.6 24,271 25,931 -6.4 48,818 47,157
revenue,
TEUR
EBITDA, 550 617 -10.9 1,112 974 14.1 4,073 4,211
TEUR
Comparable 408 529 -22.9 951 809 17.5 2,539 2,681
EBITDA,
TEUR
Operating 209 3 6,182.3 362 -244 248.2 1,809 2,414
result,
TEUR
Comparable 68 -67 201.0 202 -373 154.2 369 944
operating
result,
TEUR
Result for -14 -506 97.3 -476 -1,211 60.7 -1,211 -475
the
financial
period,
TEUR
Earnings 0.00 -0.03 97.3 -0.02 -0.06 60.7 -0.06 -0.02
per
share, EUR
Operating 1.7 0.0 1.5 -0.9 3.6 5.0
result,
%
Comparable 0.6 -0.5 0.8 -1.4 0.8 2.0
operating
result,
%
Equity 30.8 29.8 30.9 30.3
ratio, % *

* The comparative information for 1-6/2024 has been adjusted; deferred tax
assets and deferred tax liabilities are presented on a net basis. In the
comparison period they were presented on a gross basis.

CEO Aarne Aktan: Slight Improvement in Result - Stronger Outlook for the Rest of
the Year

The positive profitability trend continued in the second quarter. The comparable
operating result was EUR 0.1 million, which improved by EUR 0.1 million relative
to the comparison period. This was the sixth consecutive quarter in which a
comparable operating result improved year-on-year. However, profitability
development was two-fold: The Retail & Commerce segment showed a good
improvement in profitability, whereas the Utilities segment's profitability
development fell short of expectations, mainly due to losses in the consulting
business. The Group's comparable revenue was EUR 12.1 million, which diminished
by EUR 0.7 million relative to the comparison period.

The Retail & Commerce segment's performance aligned with the company's
expectations. The segment's comparable revenue was EUR 9.1 million, decreasing
by EUR 0.4 million year-on-year. The revenue was affected by a market with
continued cautiousness in customer demand and delays in investment decisions. In
contrast, the segment's profitability was good: The comparable operating result
was EUR 0.7 million, increasing by EUR 0.4 million year-on-year. During the
review period, the company's Board of Directors appointed Petteri Ahonen as
Executive Vice President of the segment and a member of the Group Executive
Team. Ahonen assumed his duties in August.

During the review period, the Utilities segment's performance was particularly
hampered by reduced customer invoicing rates within the consulting business. In
contrast, the software business developed as expected. The segment's comparable
operating result was EUR -0.6 million, a decrease of EUR 0.3 million relative to
the comparison period. The revenue was EUR 3.0 million, decreasing by EUR 0.3
million year-on-year. During the review period, Jesper Kaysen assumed the role
of Executive Vice President of Utilities and became a member of the Group
Executive Team.

We commence the autumn season with clarity in objectives and next steps. We
expect our financial performance to strengthen in the second half of the
financial year. Despite the challenging operating environment and the state of
the global economy, the outlook for the Retail & Commerce segment remains
moderate. The market outlook for the Utilities segment is stable, and the Nordic
market offers growth opportunities for both the software and consulting
businesses.

Profit Guidance 2025

Comparable revenue will decrease slightly, while the comparable operating result
will improve significantly. Excluding the divested healthcare software solutions
business, comparable revenue was EUR 48,818 thousand in the financial year 2024.
Comparable operating result for the financial year 2024 was EUR 710 thousand.

Financial reporting

The Half-Year Report has been prepared in accordance with the recognition and
valuation principles of IFRS standards and using IAS 34 and the same accounting
policies as the Financial Statements 2024. The new IFRS standards, taken into
use on January 1, 2025, do not have a significant impact on the Group's Half
-Year Report. The information presented in the Half-Year Report has not been
audited.

Attachments

Solteq Plc's Half-Year Report January 1 - June 30, 2025

Further Information

CEO Aarne Aktan
Tel: +358 40 342 4440
E-mail: aarne.aktan@solteq.com

CFO, General Counsel Mikko Sairanen
Tel: +358 50567 3421
E-mail: mikko.sairanen@solteq.com

Distribution

Nasdaq Helsinki
Key media
www.solteq.com

Solteq in brief

Solteq is a Nordic software solution and expert service provider specializing in
retail and energy sectors, and needs related to e-commerce. The company employs
over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland,
and the UK.