AI assistant
Componenta Oyj Annual Report 2025
3307_rns_2026-03-06_45fd1c42-df1f-4bd7-a898-82c97330b3df.pdf
Annual Report
Open in viewerOpens in your device viewer
Financial Statements Release
1 January–31 December 2025
COMPONENTA
Financial Statements Release 2025
Net sales and comparable EBITDA improved clearly
January–December 2025
- Net sales totalled EUR 115.7 million (EUR 97.1 million)
- EBITDA was EUR 9.7 million (EUR 7.9 million*)
- Adjusted EBITDA was EUR 9.7 million (EUR 4.9 million)
- Operating result was EUR 4.3 million (EUR 2.6 million*)
- Adjusted operating result was EUR 4.3 million (EUR -0.4 million*)
-
Cash flow from operating activities was EUR 7.3 million (EUR 8.2 million).
-
The EBITDA and operating result for the comparison period include a non-recurring gain of EUR 2.9 million recognised in non-operating activities during the last quarter of 2024 from the purchase of the business operations of the Kalajoki plant and the Sepänkylä machining and service centre.
The information presented in this financial statements release concerns the Componenta Group's performance in January–December 2025 and in the corresponding period in 2024 unless otherwise stated. Componenta publishes certain commonly used key financial ratios that can be derived from the IFRS financial statements. The calculation formulas for these performance measures are presented at the end of this release. The figures in this release are unaudited.
Alternative performance measure
Componenta presents the adjusted EBITDA as an alternative performance measure, intended to illustrate the company's operational profitability excluding non-recurring items. The adjusted EBITDA improves the comparability of reporting periods. The adjusted EBITDA does not include income or expenses related to corporate or structural arrangements. Componenta has reported its adjusted EBITDA since the fourth quarter of 2024 as a result of a one-off transaction implemented during that period. For the 2025 financial year, the adjusted EBITDA corresponded to the reported EBITDA for the period.
In the 2025 financial statements, Componenta introduces the adjusted operating result as a new alternative performance measure. Going forward, the Group will provide its guidance for net sales and adjusted operating result, and the Group's financial targets for the EBIT margin were also confirmed last summer. The purpose of the adjusted operating result is to illustrate profitability in line with the same principles as the adjusted EBITDA, and it does not include income or expenses generated as a result of corporate or structural arrangements. For the 2025 financial year, the adjusted operating result corresponded to the reported operating result.
Deferred tax assets
Componenta recognised a deferred tax asset of around EUR 5.7 million in the 2025 financial statements, arising from confirmed tax losses and other temporary differences. The entry is presented under Income taxes on the income statement and has a one-off positive impact on the profit for the financial year.
The entry has no impact on the adjusted EBITDA or cash flow, but it improves the Group's reported result and therefore affects its earnings per share, equity ratio, net gearing, return on equity and return on investment. The entry is based on the conditions set out in the IFRS standards and on the company's assessment of future taxable profits.
October–December 2025
- Net sales totalled EUR 31.2 million (EUR 26.9 million)
- EBITDA was EUR 2.8 million (EUR 4.7 million*)
- Adjusted EBITDA was EUR 2.8 million (EUR 1.8 million)
- Operating result was EUR 1.4 million (EUR 3.5 million*)
- Adjusted operating result was EUR 1.4 million (EUR 0.6 million*)
- Cash flow from operating activities was EUR 7.7 million (EUR 7.2 million).
Sami Sivuranta, President and CEO:
"Our financial performance in 2025 was solid overall, and we are very pleased with the result. Our net sales increased by nearly 20%, and our adjusted EBITDA almost doubled from the previous financial year, with the return on investment reaching nearly 10%. The final quarter of the year also ended in line with our expectations and plans, marking the sixth consecutive quarter with the EBITDA improving year-on-year. This trend has been supported by our systematic development efforts and active cost adjustments. Our order book increased clearly from the comparison period, even though the general economic situation and, consequently, the level of demand remain relatively subdued. In light of our key figures, the Group's balance sheet continued to strengthen. At the end of the year, our equity ratio was over 46%, while our net debt amounted to only EUR 2.2 million. At the end of the financial year, the company had a strong cash position of EUR 13 million. In addition, our liquidity continues to be supported by unused credit facilities, among other factors. Overall, these lay an excellent starting point for the year ahead.
The strong momentum in the energy industry and the defence equipment industry continued throughout 2025. The market outlook has further improved, and Componenta is well-positioned to support its customers' growth.
Demand and production volumes in the agricultural and forestry machinery industry remain unfortunately low, and despite a slow turn towards growth, more significant signs of recovery are not expected until the second half of the current year. This is still reflected in our foundry operations as a continued low level of capacity utilisation, and we continued to implement adjustment measures in our units during the fourth quarter in accordance with demand.
Early signs of growth in the general engineering industry are beginning to be reflected in our order book and, in particular, in our customers' longer-term production plans.
Throughout the past year, we continued to actively carry out development measures and expenditures across our units. During the last quarter of the year, we started new capital expenditures to prepare for the increasing demand, capacity requirements and overall order book growth in the defence equipment and energy sectors. The measures taken are also expected to further improve our capabilities. Our successful new sales across industry boundaries are expected to contribute to our future net sales growth as a result of our customers' product launches and market recovery.
Market uncertainty arising from the geopolitical situation and increases in tariffs has continued to prolong our customers' average decision-making time from receiving to accepting an offer. The direct impact on Componenta of trade policy decisions and continuous changes has so far been limited. At the same time, despite the postponement of invest decisions, an capital expenditure backlog in machinery and equipment is emerging across various industries, which means we expect our order book's development to be positive going forward.
The Group's service capability remained at a high level in the final quarter of the year. Inflation settled at a moderate level during the year. The availability of electricity has remained at a good level, but uncertainty related to energy prices persists, and price fluctuations have continued to be significant. No significant risks are foreseen regarding the availability or pricing of raw materials and other materials, but we are actively monitoring the development of our order book, the progress of market recovery and the impact of tariff and trade mechanisms on pricing and availability, and working to ensure the continued reliability of our supply chains.
As a contract manufacturer, we will continue to pursue measures to strengthen our market position, and we are working to be the preferred sustainable total supplier to our customers, with a wide offering."
Financial Statements Release 2025
Key figures
| 2025 | 2024 | Change, % | |
|---|---|---|---|
| Net sales, EUR thousand | 115,732 | 97,145 | 19.1 |
| EBITDA, EUR thousand | 9,731 | 7,854* | 23.9 |
| Adjusted EBITDA, EUR thousand | 9,731 | 4,930 | 97.4 |
| Operating result, EUR thousand | 4,335 | 2,562* | 69.2 |
| Operating result, % | 3.7 | 2.6* | 42.0 |
| Adjusted operating result, EUR thousand | 4,335 | -362 | 1,297.5 |
| Result after financial items, EUR thousand | 2,366 | 204 | 1,060.5 |
| Net result, EUR thousand | 8,039 | 204 | 3,842.9 |
| Basic earnings per share, EUR | 0.83 | 0.02 | 3,834.9 |
| Diluted earnings per share, EUR | 0.79 | 0.02 | 3,735.9 |
| Cash flow from operating activities, EUR thousand | 7,280 | 8,232 | -11.6 |
| Interest-bearing net debt, EUR thousand | 2,186 | 5,472 | -60.0 |
| Net gearing, % | 6.4 | 21.2 | -70.0 |
| Return on equity, % | 26.7 | 0.8 | 3,260.1 |
| Return on investment, % | 9.8 | 6.6 | 47.6 |
| Equity ratio, % | 46.5 | 41.3 | 12.5 |
| Capital expenditure incl. lease liabilities, EUR thousand | 3,808 | 6,732 | -43.4 |
| Number of personnel at the end of the period, incl. leased workers | 676 | 689 | -1.9 |
| Average number of personnel during the period, incl. leased workers | 675 | 639 | 5.5 |
| Order book at the end of the period, EUR thousand | 19,587 | 16,682 | 17.4 |
- The EBITDA and operating result for the financial year include a non-recurring gain of EUR 2.9 million recognised in non-operating activities during the last quarter of 2024 from the purchase of the business operations of the Kalajoki plant and the Sepänkylä machining and service centre.
Dividend proposal
The Group's profit for the financial year was EUR 8.0 million (EUR 0.2 million). On 31 December 2025, the parent company's distributable funds totalled EUR 22.9 million (EUR 18.4 million).
Profit for the financial year was improved by a one-off recognition of a deferred tax asset of EUR 5.7 million, which had no cash flow impact.
The company has capital expenditures and development projects planned and in progress as part of the Group's growth strategy. The Board therefore deems that retaining the profit within the company best supports the implementation of the strategy and long-term value creation for shareholders. The Board proposes to the Annual General Meeting that, based on the balance sheet to be adopted for the financial year that ended on 31 December 2025, no dividend be distributed, and that the profit for the financial year be retained in unrestricted equity.
Profit guidance for 2026
Componenta expects the Group's net sales and adjusted operating result to improve from previous year. The Group's net sales in 2025 were EUR 115.7 million, and its adjusted operating result was EUR 4.3 million.
Financial Statements Release 2025
Financial Statements Release 2025
Summary of key events in 2025
Componenta announced on 16 April 2025 that the company had agreed on the extension of its credit facility and an increase of EUR 1 million, and on a new EUR 2 million capital expenditure loan. Componenta signed an agreement with Avida Finans Ab, filial i Finland ("Avida"), to increase its existing EUR 4 million credit facility by EUR 1 million to a total of EUR 5 million. In connection with this, the validity of the credit facility agreement was extended by two years, until September 2027. In addition, Componenta agreed with Avida on a new EUR 2 million capital expenditure loan. The maturity of the investment loan is four years. The drawdown period for the loan is twelve months from the signing date, followed by a repayment period of 36 months, with standard terms and conditions. The capital expenditure loan is intended primarily for ordinary machinery and equipment needed by the business operations. The capital expenditure loan remained undrawn at the end of the financial year.
On 25 August 2025, Componenta announced a EUR 10.4 million purchase by the Finnish Defence Forces, including an option of around EUR 4.4 million.
On 1 October 2025, Componenta Manufacturing Oy paid Fortaco Oy the final purchase price, as previously agreed, for the properties used by the Kalajoki and Sepänkylä operations. The transaction concerning these operations was completed on 1 October 2024, and they became part of Componenta as of the closing date.
In December 2025, Componenta drew down a new loan totalling EUR 3 million from LocalTapiola and Elo Mutual Pension Insurance Company. The loan will be used for working capital and to finance investments. The loan period is five years, with standard terms and conditions.
Order book
Componenta's order book at the end of 2025 stood at EUR 19.6 million (EUR 16.7 million). The order book increased by EUR 1.4 million from the end of the previous quarter. The order book contains the orders confirmed with customers for the next two months. The increase in the order book from the previous year was driven by new sales secured by Componenta and a slight recovery in the market.
Purchases by the Defence Forces
On 25 August 2025, Componenta announced that the Finnish Defence Forces would purchase products from the company for a total value of EUR 10.4 million. The total value of the transaction includes an option of around EUR 4.4 million, which must be exercised by 31 December 2026. The deliveries are scheduled for 2025–2028. In May 2024, a purchase of EUR 50 million was announced, with deliveries similarly scheduled for 2025–2028.
Net sales
Net sales increased by 19.1% year-on-year to EUR 115.7 million (EUR 97.1 million). The increase in net sales was largely attributable to the new business operations acquired in October 2024, and to a modest recovery in the market. In addition, net sales were slightly boosted by the pricing adjustment introduced in 2024, which was based on lower order books and utilisation rates. From the second quarter of the financial year onwards, net sales were also supported by price increases implemented to offset cost rises of wage and salary increases in the industrial sector.
Componenta's net sales were divided between customer industries as follows: machine building 35% (39%), the energy industry 23% (14%), agricultural machinery 18% (20%), the defence equipment industry 14% (15%), forest machinery 6% (7%) and other industries 4% (5%).
Result
The Group's EBITDA increased year-on-year, amounting to EUR 9.7 million (EUR 7.9 million). Its adjusted EBITDA was EUR 9.7 million (EUR 4.9 million). There were no items to be adjusted during the financial year, but the comparison period's EBITDA included a one-off non-operational gain of EUR 2.9 million arising from the transaction concerning the Kalajoki and Sepänkylä operations. In the financial year, the improvement in the EBITDA was driven by stronger production quality and productivity factors compared with the previous year, the acquired business operations, and the temporary pricing adjustments introduced during last year. The EBITDA for the comparison period was burdened by lower sales volumes than in the
previous year and temporarily lower productivity and internal quality challenges caused by volume products that went into serial production, as well as the index development of electricity and main raw materials. In addition, the EBITDA for both the financial year and the comparison period was burdened by industrial action that took place at the beginning of the year.
The Group's operating result increased from the previous year, amounting to EUR 4.3 million (EUR 2.6 million). The adjusted operating result was EUR 4.3 million (EUR -0.4 million). The operating result for the comparison period included the non-recurring gain from the transaction mentioned in the previous paragraph.
The Group's net financial items totalled EUR -2.0 million (EUR -2.4 million). Net financial items decreased slightly from the previous year as a result of lower interest rates, although the volumes of factoring financing increased. The Group's result after financial items was EUR 2.4 million (EUR 0.2 million). Taxes totalled EUR 5.7 million (0.0 million) for the financial year. The taxes for the financial year arose from deferred tax assets recognised on the basis of an analysis conducted in accordance with the IFRS. The Group's profit for the financial year was EUR 8.0 million (EUR 0.2 million). Basic earnings per share were EUR 0.83 (EUR 0.02) for the financial year. Diluted earnings per share were EUR 0.79 (EUR 0.02) for the financial year.
Balance sheet, financing and cash flow
At the end of the financial year, the company's invested capital stood at EUR 49.9 million (EUR 40.0 million), and the return on capital employed was 9.8% (6.6%). The return on equity was 26.7% (0.8%). The Group's equity ratio stood at 46.5% (41.3%) at the end of the financial year. The improvement was mainly driven by favourable earnings performance and the deferred tax assets recognised for the financial year. The Group's equity was EUR 34.4 million (EUR 25.8 million). Its interest-bearing net debt totalled EUR 2.2 million (EUR 5.5 million) at the end of the financial year. Its net gearing stood at 6.4% (21.2%) at the end of the financial year. The change in net interest-bearing debt and net gearing was driven by a better cash position than in the comparison period.
Componenta Group's total liabilities on 31 December 2025 stood at EUR 41.8 million (EUR 37.6 million). Long-term liabilities amounted to EUR 12.8 million (EUR 11.7 million), and short-term liabilities totalled EUR 29.0 million (EUR 25.9 million). The Group's liabilities included EUR 5.9 million (EUR 4.1 million) in loans from financial institutions. The Group's other debt items included EUR 11.6 (10.5) million in working capital, EUR 9.6 (10.1) million in lease liabilities related to facilities, machinery and equipment, and EUR 14.7 (12.9) million in other liabilities.
At the end of the financial year, the Group's cash in hand and at bank totalled EUR 13.3 million (EUR 8.7 million). The Group's liquidity has remained at a good level since the end of the financial year. During the financial year, Componenta agreed to extend its credit facilities and increase them by EUR 1 million, resulting in binding and undrawn credit commitments of EUR 5.0 million (4.0 million) at the end of the financial year, valid until September 2027. In April, Componenta agreed with Avida on a new EUR 2.0 million capital expenditure loan, which remained fully undrawn at the end of the financial year. In December, Componenta drew down a new loan totalling EUR 3.0 million from LocalTapiola and Elo Mutual Pension Insurance Company. The loan period is five years, with standard terms and conditions. In addition, Componenta has a convertible bond arrangement of up to USD 3.0 million with MPL, a US investor, until 31 December 2027. The arrangement remains fully undrawn, and may be used at the sole discretion of the company.
The Group's cash flow from operating activities in the financial year was EUR 7.3 million (EUR 8.2 million). At the end of the financial year, the Group's working capital (including inventories and trade receivables, less trade payables) was EUR 7.4 million (EUR 5.2 million). Year-on-year, cash flow weakened and capital tied up in working capital increased, mainly due to higher inventory levels.
The acquisition of the Kalajoki plant and the Sepänkylä machining and service centre
On 1 October 2024, Componenta acquired from Fortaco Group the business operations of the Kalajoki plant and the Sepänkylä machining and
Financial Statements Release 2025
6
service centre for a purchase price of around EUR 2.8 million. The acquired business operations were consolidated into Componenta from the date of completion of the transaction, and the transaction was financed through income financing and the company's available credit facilities. Componenta recognised a non-recurring non-operational gain of EUR 2.9 million from the transaction for the 2024 financial year, and this is presented under other operating income. The acquired operations employed around 60 people and strengthened Componenta's service offering for machinery and equipment manufacturers. On 1 October 2025, Componenta paid the properties of Kalajoki and Sepänkylä business operations to Fortaco Oy as previously agreed.
Capital expenditure
The Group's capital expenditure for the 2025 financial year totalled EUR 3.8 million (6.7 million). The capital expenditure mainly consisted of various production machinery and equipment acquisitions. The capital expenditure for the comparison period also included the business acquisition carried out during that period. The Group's net cash flow from investing activities was EUR -2.4 million (EUR -3.2 million), which includes the Group's cash flow from capital expenditure in tangible and intangible assets.
Research and development activities
There were no research and development costs, as Componenta engages in contract manufacturing operations.
Risks and business-related uncertainties
The most significant risks associated with Componenta's business operations are related to the business environment, operations and financing. Risks related to the business environment include competitive and pricing risks, commodity risks and environmental risks. Risks related to business operations include, for example, the following: customer and supplier dependencies; productivity, production and process risks; labour-market disruptions; contractual and product liability risks; and risks related to personnel, information security and cybersecurity. Financing risks are related to liquidity and the availability of financing, as well as to counterparty, currency, interest rate and credit risks.
The availability of certain raw materials such as recycled steel, pig iron, structural steel, aluminium and energy at competitive prices, as well as the uninterrupted supply of energy, is essential for the Group's business operations. In the review period, the market prices for electricity remained at a reasonable level on average, although the price variation was significant on a daily and hourly basis. Higher geopolitical tensions may increase uncertainty regarding the availability of raw materials and other materials, even within Componenta's own operational activities. In addition, global challenges with the availability of certain components for customers may lead to production disruptions for end-customers and thereby affect Componenta's sales volumes in the short term. However, from Componenta's point of view, the situation is stable at the moment.
To ensure the availability of raw materials and other materials, Componenta actively engages in dialogue with its suppliers, continuously updates its needs forecasts, optimises its inventory levels to meet longer-term demand and closely monitors the situation of its suppliers and market developments.
Componenta has no significant or immediate risk concentrations related to Russia, Ukraine or the Middle East among its customers or suppliers of goods, and the company has no operations in these regions. The Russian war of aggression has had an impact on the general price development and availability of raw materials such as structural steel and pig iron, and on the development of energy prices. The war has had an indirect impact on the supply chains of manufacturers of steel materials and wholesalers through the price development and availability of iron ore and coal, for example. Going forward, a deterioration in the geopolitical situation may affect the financial market, sales volumes, the availability and price development of raw materials and energy, and the availability of foreign labour, which increases forecasting uncertainty. Any increases in import duties may have a direct impact on Componenta's business operations through purchases of raw materials and other materials, and an indirect impact through customers. However,
Financial Statements Release 2025
Financial Statements Release 2025
Componenta delivers hardly any components directly to the United States.
The cost risk associated with raw materials is mainly managed through index-based price agreements, based on which the sales prices of products are updated in response to changes in the prices of raw materials for the next quarter. An increase in raw material prices may tie up more working capital than expected. In terms of commercial risks, future volumes may be weakened by customers switching to cheaper alternatives due to price competition.
Componenta's business operations depend on the reliability of production plants, procurement and supply chains and the related processes and systems. The company is also closely monitoring developments in the labour market. Due to the central role of information technology, the quality, accuracy and availability of information are essential in Componenta's operations. If materialised, IT and cybersecurity risks may cause operational disruptions, loss or distortion of data and interruptions to operations, which may affect product availability. Componenta pays particular attention to cybersecurity, and also monitors the situation of its suppliers and customers.
Componenta continuously monitors the liquidity and counterparty risk. The financing of the company is based on income financing, factoring arrangements, committed loans from financial institutions, credit facilities in force until September 2027 and the convertible bond arrangement established in May 2024. However, the termination or non-renewal of these arrangements could create uncertainty regarding the Group's liquidity. It is the company's view that the Group will continue to have access to debt financing from the market if necessary. The Group's liquidity was at a good level at the end of the review period.
During the financial year, Componenta agreed to extend its credit facilities and increase them by EUR 1 million, resulting in binding and undrawn credit commitments of EUR 5.0 million (4.0 million) at the end of the financial year. In addition, the company agreed on a new EUR 2.0 million capital expenditure loan, which had not been drawn down at the end of the financial year. In December 2025, the company drew down a loan totalling EUR 3.0 million. Componenta also has a convertible bond arrangement of up to USD 3.0 million with MPL, a US investor, until 31 December 2027. The arrangement remains fully undrawn, and may be used at the sole discretion of the company.
Componenta's credit facilities and working capital loans include the following financial covenants: net interest-bearing debt / rolling 12-month EBITDA no higher than 3.0, and an equity ratio of at least 25%. The covenants are reviewed twice a year, on 30 June and 31 December. On 31 December 2025, Componenta's financial situation fulfilled all the covenants included in the loan agreements. However, unfavourable EBITDA development over a rolling 12-month period can cause a covenant breach.
Resolutions of the Annual General Meeting
Componenta Corporation's Annual General Meeting (AGM) was held in Vantaa on 23 April 2025. The AGM adopted the financial statements and consolidated financial statements for 2024 and discharged the members of the Board of Directors and the CEO from liability for the 2024 financial year (1 January to 31 December 2024). In accordance with the Board of Directors' proposal, the AGM decided that no dividend be paid based on the balance sheet confirmed for the financial year that ended on 31 December 2024.
The AGM decided that the Board of Directors consists of four (4) members. The AGM re-elected Tomas Hedenborg, Anne Koutonen, Harri Suutari and Lars Wrebo as members of the Board. The AGM decided that the annual remuneration payable to the Chair of the Board of Directors would be EUR 50,000, and that the annual remuneration payable to other members of the Board would be EUR 30,000, in accordance with the proposal of the Shareholders' Nomination Board. The members of any committees of the Board of Directors will be paid an annual remuneration of EUR 5,000. In addition, Board members who live outside Finland and travel to Finland for a meeting will paid a fee of EUR 1,000 per meeting.
At its inaugural meeting after the AGM, the Board of Directors elected Harri Suutari as Chair of the Board and Anne Koutonen as Vice Chair of the Board. The AGM elected the audit firm PricewaterhouseCoopers Oy as the company's auditor, with Ylva Eriksson, Authorised Public Accountant, as the principal
auditor. The AGM selected BDO Oy, an authorised sustainability audit firm, as the company's sustainability auditor, with Laura Castrén, APA, Authorised Sustainability Auditor, as the principal sustainability auditor.
In accordance with the Board's proposal, the AGM authorised the Board of Directors to decide on share issues in one or several instalments as follows:
- Share issues can be executed by offering new shares or transferring treasury shares held by the company.
- The total number of shares to be issued or transferred under the authorisation may not exceed 961,563 shares, which correspond to around 9.9% of all the shares in the company.
- The new shares may be issued and the treasury shares held by the company may be transferred for consideration or without consideration.
The Board of Directors will decide on all the terms and conditions of the issue of new shares and the transfer of the company's own shares. Based on the authorisation, the Board of Directors may also decide on a share issue in deviation from the pre-emptive subscription right of the shareholders (directed issue) subject to conditions mentioned in the Finnish Limited Liability Companies Act. The authorisation also includes the right to decide on the issue of new shares to the company itself without consideration. For example, the Board of Directors may use the authorisation as compensation in acquisitions, to develop capital structure, to broaden the ownership base, to acquire assets related to the company's business operations or to finance or carry out other business transactions, or for other purposes decided by the Board of Directors. However, the authorisation may not be used for the implementation of incentive programmes for the company's management or key personnel.
The authorisation is valid until the end of the next Annual General Meeting, but no longer than until 30 June 2026. For the sake of clarity, it is stated that the authorisation does not revoke the authorisation granted to the Board of Directors at the Annual General Meeting on 13 April 2023 to decide on the issue of shares and special rights entitling their holders to shares for incentive schemes, under
which a maximum of 400,000 shares may be issued. However, the authorisation revokes other previous unused authorisations to issue shares.
In accordance with the proposal of the Board of Directors, the Annual General Meeting decided to make technical amendments to sections 8 and 11 of the Articles of Association. The amendments were made in preparation for the planned easing of sustainability reporting regulations, enabling the appointment of a sustainability auditor when deemed necessary.
Board of Directors and management
Until 23 April 2025, Componenta's Board of Directors consisted of Harri Suutari (Chair), Anne Koutonen (Vice Chair), Tomas Hedenborg, Petteri Wallden and Lars Wrebo. Since 23 April 2025, Componenta's Board of Directors has consisted of Harri Suutari (Chair), Anne Koutonen (Vice Chair), Tomas Hedenborg and Lars Wrebo. The Board members' term of office ends at the close of the next AGM. Throughout the financial year, the Group's Corporate Executive Team consisted of the following members: Sami Sivuranta, President and CEO; Marko Karppinen, CFO; Pasi Mäkinen, COO; and Hanna Seppänen, General Counsel.
Share capital and shares
The shares of Componenta Corporation are listed on the Nasdaq Helsinki. The average share price during the financial year was EUR 4.12 (EUR 2.75). The lowest price was EUR 2.63 (EUR 2.12), and the highest was EUR 5.68 (EUR 3.55). The quoted price at the end of the financial year was EUR 4.40 (EUR 2.76). At the end of the financial year, the market value of the company's shares was EUR 43.3 million (EUR 26.8 million), and the volume of shares traded during the financial year was 46.2% (21.9%) of the entire share capital. Componenta Corporation's share capital was EUR 1.0 million (EUR 1.0 million) at the end of the financial year. At the end of the financial year, the total number of the company's shares was 9,843,481 (9,712,757). The company had 7,964 (7,005) shareholders at the end of the financial year.
Flagging notifications
In 2025, Componenta received one flagging notification, according to which Nordea Life Assurance
Financial Statements Release 2025
Finland Ltd's holding of Componenta Corporation's total number of shares and votes exceeded 5% on 10 December 2025.
Stock options
On 31 December 2025, the company had three active stock option plans for incentivising and retaining key personnel. The target group of all the stock option plans consists of around 15 key people, including the members of the Group Corporate Executive Team. A maximum of around 400,000 Componenta shares may be subscribed for under the stock option plans. The key terms of the stock option plans are presented in the financial statements.
During the financial year, in November 2025, stock option plan 2018C expired, and a total of 130,724 shares were subscribed for under the plan. The subscription price of the stock options, totalling EUR 395,440, was recognised in full in the reserve for invested unrestricted equity.
In addition, at the end of the review period, Componenta had three previously approved stock option plans: 2023A, 2023B and 2023C.
There were a total of 133,348 stock options under the 2023A plan, of which 4,168 were held by the company. The share subscription price under the 2023A plan is EUR 3.00, and each stock option entitles its holder to subscribe for one Componenta share. The subscription period for shares under the 2023A plan runs from 1 June 2026 to 31 May 2028.
There were a total of 133,326 stock options under the 2023B plan, of which 4,168 were held by the company. The share subscription price under the 2023B plan is EUR 2.35, and each stock option entitles its holder to subscribe for one Componenta share. The subscription period for shares under the 2023B plan runs from 1 June 2027 to 31 May 2029.
There were a total of 133,326 stock options under the 2023C plan. The share subscription price is EUR 3.97, and each stock option entitles its holder to subscribe for one Componenta share. The subscription period for shares to be subscribed for using 2023C stock options will run from 1 June 2028 to 31 May 2030.
Annual General Meeting
Componenta Corporation's Annual General Meeting will be held on Tuesday 14 April 2026 in Vantaa, Finland. The notice of the meeting will be published as a separate stock exchange release.
Financial communication in 2026
In 2026, Componenta will publish its financial reports as follows:
- Business review for January–March 2026 on Friday 8 May 2026
- Half-year financial report for January–June 2026 on Thursday 23 July 2026
- Business review for January–September 2026 on Friday 30 October 2026
The 2025 Annual Review, including the financial statements and the Board of Directors' report, which includes the sustainability statement, and the Corporate Governance Statement, will be published during the week beginning 16 March 2026. In addition, Componenta will publish a remuneration report for 2025.
Helsinki 6 March 2026
COMPONENTA CORPORATION
Board of Directors
Financial Statements Release 2025
Financial statements release tables
Consolidated income statement
| EUR thousand | Jan 1–Dec 31, 2025 | Jan 1–Dec 31, 2024 | Jul 1–Dec 31, 2025 | Jul 1–Dec 31, 2024 |
|---|---|---|---|---|
| Net sales | 115,732 | 97,145 | 56,008 | 47,138 |
| Other operating income | 523 | 3,486* | 241 | 3,143* |
| Operating expenses | -106,524 | -92,777 | -51,511 | -44,342 |
| EBITDA | 9,731 | 7,854 | 4,738 | 5,939 |
| % of net sales | 8.4% | 8.1% | 8.5% | 12.6% |
| Depreciation, amortization and write-downs | -5,396 | -5,292 | -2,723 | -2,583 |
| Operating result | 4,335 | 2,562 | 2,015 | 3,355 |
| % of net sales | 3.7% | 2.6% | 3.6% | 7.1% |
| Financial income and expenses | -1,969 | -2,358 | -932 | -1,162 |
| Result after financial items | 2,366 | 204 | 1,083 | 2,193 |
| % of net sales | 2.0% | 0.2% | 1.9% | 4.7% |
| Income taxes | 5,673 | 0 | 5,673 | 0 |
| Result for the financial period | 8,039 | 204 | 6,756 | 2,193 |
Allocation of result for the period
| To equity holders of the parent | 8,039 | 204 | 6,756 | 2,193 |
|---|---|---|---|---|
Earnings per share calculated on result attributable to the shareholders of the parent company
| - Basic earnings per share, EUR | 0.83 | 0.02 | 0.69 | 0.23 |
|---|---|---|---|---|
| - Diluted earnings per share, EUR | 0.79 | 0.02 | 0.67 | 0.22 |
- The EBITDA for the financial year includes a non-recurring gain of EUR 2.9 million recognised in non-operating activities during the last quarter of 2024 from the purchase of the business operations of the Kalajoki plant and the Sepänkylä machining and service centre.
Financial Statements Release 2025
Consolidated statement of financial position
| EUR thousand | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Assets | ||
| Non-current assets | ||
| Intangible assets | 1,426 | 1,574 |
| Goodwill | 3,225 | 3,225 |
| Tangible assets | 32,295 | 32,973 |
| Receivables | 360 | 360 |
| Deferred tax assets | 5,673 | 0 |
| Total non-current assets | 42,978 | 38,132 |
| Current assets | ||
| Inventories | 16,754 | 13,994 |
| Trade and other receivables | 3,268 | 2,584 |
| Cash and cash equivalents | 13,250 | 8,703 |
| Total current assets | 33,272 | 25,281 |
| Total assets | 76,251 | 63,412 |
| EUR thousand | Dec 31, 2025 | Dec 31, 2024 |
| --- | --- | --- |
| Shareholders' equity and liabilities | ||
| Shareholders' equity | ||
| Share capital | 1,000 | 1,000 |
| Other equity | 33,426 | 24,831 |
| Equity attributable to equity holders of the parent company | 34,426 | 25,831 |
| Shareholders' equity | 34,426 | 25,831 |
| Liabilities | ||
| Non-current liabilities | ||
| Interest-bearing liabilities | 11,138 | 10,697 |
| Interest free liabilities and capital loans | 1,632 | 946 |
| Provisions | 14 | 14 |
| Total non-current liabilities | 12,785 | 11,657 |
| Current liabilities | ||
| Interest bearing liabilities | 4,298 | 3,478 |
| Interest free liabilities | 24,319 | 22,088 |
| Provisions | 422 | 358 |
| Total current liabilities | 29,039 | 25,924 |
| Total liabilities | 41,824 | 37,581 |
| Total shareholders' equity and liabilities | 76,251 | 63,412 |
Financial Statements Release 2025
Condensed consolidated cash flow statement
| EUR thousand | Jan 1–Dec 31, 2025 | Jan 1–Dec 31, 2024 |
|---|---|---|
| Cash flow from operating activities | ||
| Result after financial items | 2,366 | 204 |
| Depreciation, amortization and write-downs | 5,396 | 5,292 |
| Net financial income and expenses | 1,969 | 2,358 |
| Other income and expenses, adjustments to cash flow* | 794 | -2,573 |
| Change in net working capital | -1,214 | 5,193 |
| Cash flow from operations before financing and income taxes | 9,310 | 10,474 |
| Interest received and paid and dividends received | -2,030 | -2,242 |
| Net cash flow from operating activities | 7,280 | 8,232 |
| Cash flow from investing activities | ||
| Capital expenditure in tangible and intangible assets | -2,532 | -3,187 |
| Sale of tangible and intangible assets | 87 | 18 |
| Other disposal proceeds and repayments of loan receivables | 8 | 0 |
| Net cash flow from investing activities | -2,437 | -3,168 |
| Cash flow from financing activities | ||
| Issuance of convertible bond | 0 | -97 |
| Repayment of lease liabilities | -2,491 | -2,090 |
| Repayment of current loans | -1,200 | -1,450 |
| Share issue | 395 | 0 |
| Draw-down of non-current loans | 3,000 | 2,000 |
| Net cash flow from financing activities | -296 | -1,637 |
| Change in liquid assets | 4,547 | 3,426 |
| Cash and cash equivalents at the beginning of the period | 8,703 | 5,277 |
| Cash and cash equivalents at the period end | 13,250 | 8,703 |
- The most significant items during the financial period relate to prepayments received and accruals of share-based payments in accordance with IFRS 2 that have been recognized in equity.
Financial Statements Release 2025
Statement of changes in consolidated shareholders' equity
| EUR thousand | Share capital | Unrestricted equity reserve | Other reserves | Retained earnings | Share holders' equity total |
|---|---|---|---|---|---|
| Shareholders' equity Jan 1, 2025 | 1,000 | 17,010 | 2,507 | 5,314 | 25,831 |
| Net result | 8,039 | 8,039 | |||
| Total comprehensive income | 0 | 0 | 0 | 8,039 | 8,039 |
| Transactions with owners: | |||||
| Option and share-based compensation | 395 | 159 | 555 | ||
| Other | -38 | 39 | 1 | ||
| Transactions with owners, total | 0 | 357 | 0 | 198 | 556 |
| Shareholders' equity Dec 31, 2025 | 1,000 | 17,368 | 2,507 | 13,552 | 34,426 |
| EUR thousand | Share capital | Unrestricted equity reserve | Other reserves | Retained earnings | Share holders' equity total |
| --- | --- | --- | --- | --- | --- |
| Shareholders' equity Jan 1, 2024 | 1,000 | 17,010 | 2,507 | 5,033 | 25,550 |
| Net result | 204 | 204 | |||
| Total comprehensive income | 0 | 0 | 0 | 204 | 204 |
| Transactions with owners: | |||||
| Option and share-based compensation | 77 | 77 | |||
| Transactions with owners, total | 0 | 0 | 0 | 77 | 77 |
| Shareholders' equity Dec 31, 2024 | 1,000 | 17,010 | 2,507 | 5,314 | 25,831 |
Group development
Group development by quarter
| EUR thousand | Q4/25 | Q3/25 | Q2/25 | Q1/25 | Q4/24 | Q3/24 | Q2/24 | Q1/24 |
|---|---|---|---|---|---|---|---|---|
| Net sales | 31,233 | 24,775 | 30,877 | 28,847 | 26,886 | 20,252 | 26,441 | 23,566 |
| EBITDA | 2,788 | 1,950 | 2,615 | 2,377 | 4,716 | 1,223 | 2,066 | -152 |
| Adjusted EBITDA | 2,788 | 1,950 | 2,615 | 2,377 | 1,792 | 1,223 | 2,066 | -152 |
| Operating result | 1,431 | 584 | 1,263 | 1,057 | 3,450 | -94 | 735 | -1,529 |
| Adjusted operating result | 1,431 | 584 | 1,263 | 1,057 | 526 | -94 | 735 | -1,529 |
| Net financial items | -485 | -447 | -500 | -537 | -592 | -570 | -647 | -548 |
| Result after financial items | 946 | 137 | 764 | 520 | 2,857 | -664 | 88 | -2,077 |
Order book at period end
| EUR thousand | Q4/25 | Q3/25 | Q2/25 | Q1/25 | Q4/24 | Q3/24 | Q2/24 | Q1/24 |
|---|---|---|---|---|---|---|---|---|
| Order book | 19,587 | 18,214 | 14,196 | 17,438 | 16,682 | 13,918 | 10,807 | 15,768 |
Financial Statements Release 2025
Financial Statements Release 2025
Accounting principles
Componenta Corporation's 2025 financial statements release has been prepared in line with IAS 34 Interim Financial Reporting and should be read in connection with Componenta's 2024 financial statements, which were published on 28 March 2025. Componenta has applied the same accounting principles to the financial statements release as it applied to its 2024 financial statements. The financial statements release has not been audited.
New applied standards
Componenta has applied amendments to and interpretations of standards relevant to Componenta that came into force during the financial year. The IFRS accounting standards that entered into force in 2025 and their amendments had no material impact on the consolidated financial statements.
Segment information
Componenta provides its customers with services that cover the entire supply chain, ranging from method planning to casting, machining and various finishing treatments. The company's service offering includes casting, machining, plate cutting components, tube products, welded structures and forged blanks and logistics services, enabling Componenta to deliver added value to its customers through comprehensive solutions. The subcontractor network complements and expands the company's own offering.
Componenta's high-quality metal components are used extensively in mechanical engineering and the agricultural, forest and energy industries, among other sectors. The Group's customers mainly consist mainly of globally operating manufacturers of machinery, agricultural and forestry machines and equipment, energy and defence industry equipment and other industrial equipment, with whom Componenta has long-standing customer relationships. Sales revenue that is minor from the Group's perspective is also received from the leasing of office space and industrial premises.
The highest decision-maker at Componenta is its President and CEO. The Group's Corporate Executive Team and other management assist and support the President and CEO in their duties.
Componenta has identified several operating segments and analysed their economic characteristics, long-term sales margins and sales growth trends. The operating segments consist of the Group's two foundries and its five machining units and four material service units. Based on the analysis, the operating segments have similar and consistent economic characteristics, and therefore Componenta has only one reportable segment in accordance with the IFRS. The Group's business operations are therefore presented as a single whole.
When comparing the economic characteristics of its operating segments, the company has analysed the nature of products and services, production processes, the types and groups of customers, distribution channels and the regulatory environment. In addition, Componenta reports its net sales by market area and industry, and separately discloses those customers whose share of the Group's net sales exceeds 10%.
Accounting principles requiring the management's judgement
When preparing the consolidated financial statements in accordance with the International Financial Reporting Standards, the company's management makes estimates and assumptions concerning the future. The estimates and assumptions that involve a significant risk of material changes in the carrying amounts of assets and liabilities during the next financial period are presented below.
Componenta's financial statements for 2025 have been prepared on a going concern basis. As part of the going concern assessment, the management has analysed the Group's liquidity risk and the sufficiency of its financing. In assessing the sufficiency of financing, the factors described below have been taken into account, among other aspects.
Componenta's sales volumes have remained at a reasonably good level despite the risks posed by the Russian war of aggression and increased geopolitical tensions. Short-term declines in the order book have been addressed through timely and adequate adjustment measures. There have been
15
no disruptions or restrictions in the availability of electricity, and fluctuations in the price of electricity are transferred to customer prices under index terms with an average delay of three months.
At the end of the financial year, the Group's cash in hand and at bank totalled EUR 13.2 million (EUR 8.7 million), and its liquidity was at a good level. In addition, at the end of the financial year, the Group had binding and undrawn credit commitments totalling EUR 5.0 million (EUR 4.0 million). In December 2025, Componenta agreed on and drew down a new EUR 3.0 million investment loan. The company also has a convertible bond arrangement of up to USD 3.0 million with MPL, a US investor, until 31 December 2027. The arrangement remains fully undrawn, and may be used at the sole discretion of the company. The Group's net interest-bearing debt totalled EUR 2.2 million (EUR 5.5 million) at the end of the financial year. It is the company's view that the Group also has access to debt financing from the market if necessary. In addition, the management has analysed the Group companies' cash flow forecasts for the next 12 months.
The management has also made other significant estimates and assumptions in determining the valuation of assets such as goodwill, tangible and intangible assets, inventories, the applicability of deferred tax assets, and contingent liabilities in the financial statements. The management has also assessed the impact of inflation and market interest rate levels on the financial statements and the valuation of the assets mentioned above.
The recoverability of trade receivables has been assessed from both an industry-specific and a general economic perspective. The assessments performed did not have a material impact on the credit loss provision recognised in the financial statements. Componenta regularly updates its credit loss provision. The impacts of Russia's war of aggression and the heightened geopolitical tensions on financial reporting are continuously assessed, and the Group closely monitors developments in the markets and among its customers, and adjusts its operations as necessary.
The management has assessed any indications of impairment of assets and reversals of impairment. These estimates and assumptions involve uncertainty, and it is possible that these forecasts will change when
the circumstances change, which may affect the recoverable amount of assets. Further information about the annual impairment testing is presented in the note "Goodwill" to the consolidated financial statements.
Management judgement has also been applied in determining the balance sheet value of certain equipment acquisitions and the related liabilities of Componenta Manufacturing Oy. The valuation of assets and financial liabilities has been affected by an estimate of the operating hours of the equipment over the next 10 years, and by the effective interest method.
Items affecting comparability
Componenta reports adjusted EBITDA and adjusted operating result as alternative performance measures in order to improve comparability between reporting periods. Items related to corporate or structural arrangements are excluded from the adjusted figures.
Componenta has reported adjusted EBITDA starting from the fourth quarter of 2024 due to a non-recurring gain on a business acquisition recognized during the period. As of 2025, the company has introduced adjusted operating result as a new alternative performance measure.
| EUR Thousand | Jan 1–Dec 31, 2025 | Jan 1–Dec 31, 2024 |
|---|---|---|
| EBITDA | 9,731 | 7,854 |
| Corporate and structural arrangements | 0 | -2,924 |
| Adjusted EBITDA | 9,731 | 4,930 |
| EUR Thousand | Jan 1–Dec 31, 2025 | Jan 1–Dec 31, 2024 |
| --- | --- | --- |
| Operating result | 4,335 | 2,562 |
| Corporate and structural arrangements | 0 | -2,924 |
| Adjusted operating result | 4,335 | -362 |
Valuation of properties and land areas
Componenta applies the IAS 16 cost model to land areas, buildings and structures. Land areas are measured at their original cost less any impairment losses. Buildings and structures are measured at cost less accumulated depreciation according to plan and any impairment losses.
Financial Statements Release 2025
Financial Statements Release 2025
Net sales
Componenta Corporation is an international technology group and Finland's leading contract manufacturer in the machine building industry. Componenta and its predecessors have more than 200 years' experience in metal processing, procedure design, product development cooperation and various manufacturing technologies and their development. The group's operational functions are located in Finland. Componenta's technology portfolio is extensive, and the Group manufactures cast and machined metal components, as well as forged blanks, pipe products and metal sheet cuttings. Componenta's business model is built on long-term customer relationships. The Group's customers are global machine and equipment manufacturers. Componenta's production is focused on serving customers flexibly, especially in short and medium-sized production runs. The wide range of production units covers sizes ranging from hundreds of grams to thousands of kilograms, volumes from individual units to series of tens of thousands, and a wide variety of material options.
Net sales by market area
| EUR thousand | Jan 1–Dec 31, 2025 | Jan 1–Dec 31, 2024 |
|---|---|---|
| Finland | 93,828 | 81,090 |
| Sweden | 14,017 | 10,517 |
| Germany | 2,644 | 1,496 |
| Other European countries | 4,902 | 3,649 |
| Other countries | 398 | 417 |
| Internal items/eliminations | -57 | -24 |
| Total | 115,732 | 97,145 |
Country-specific net sales reflect the destination where goods have been delivered.
Net sales by business area
| % | Jan 1–Dec 31, 2025 | Jan 1–Dec 31, 2024 |
|---|---|---|
| Machine building | 35 | 39 |
| Energy industry | 23 | 14 |
| Agricultural machinery | 18 | 20 |
| Defence equipment industry | 14 | 15 |
| Forestry machinery | 6 | 7 |
| Other industries | 4 | 5 |
| Total | 100 | 100 |
Net sales by customer
Componenta has three major customers, each of which account for more than 10% of the Group's net sales. These customers' combined net sales was EUR 54.8 million (EUR 33.2 million) which accounts for 47.3% (34.2%) of the Group's net sales.
17
Tangible and intangible assets
Changes in tangible assets
| EUR thousand | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Acquisition cost at the beginning of the period | 152,705 | 146,060 |
| Additions* | 3,783 | 6,664 |
| Disposals and transfers between items | 500 | -18 |
| Acquisition cost at the end of the period | 156,988 | 152,705 |
| Accumulated depreciation at the beginning of the period | -119,733 | -115,086 |
| Depreciations, amortizations and write-downs during the period | -4,961 | -4,647 |
| Accumulated depreciation at the end of the period | -124,694 | -119,733 |
| Carrying amount at the end of the period | 32,295 | 32,973 |
Changes in intangible assets
| EUR thousand | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Acquisition cost at the beginning of the period | 23,004 | 22,919 |
| Additions | 25 | 68 |
| Disposals and transfers between items | 137 | 17 |
| Acquisition cost at the end of the period | 23,166 | 23,004 |
| Accumulated depreciation at the beginning of the period | -21,429 | -20,924 |
| Depreciations, amortizations and write-downs during the period | -310 | -506 |
| Accumulated depreciation at the end of the period | -21,739 | -21,429 |
| Carrying amount at the end of the period | 1,426 | 1,574 |
Goodwill
| EUR thousand | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Acquisition cost at the beginning of the period | 3,225 | 3,225 |
| Carrying amount at the end of the period | 3,225 | 3,225 |
- The increase in tangible assets in 2024 include the business operations acquired during the financial year in Kalajoki and Sepankylä.
At the end of each reporting period, Componenta assesses whether there is any indication that the impairment loss recorded for the asset - other than goodwill - in previous periods may no longer exist or that it may have decreased. If any indication exists, Componenta estimates the recoverable amount of that asset. When evaluating indications of a decrease in impairment losses, Componenta evaluates external and internal sources of information. If there has been a change in the estimates that have
been used to determine the recoverable amount of the asset when recording the impairment loss, the reversal of the impairment loss is recorded with effect on profit. However, the increased book value due to the reversal of the impairment loss will never exceed the book value that the asset would have had without the impairment loss entry made at the time. Possible impairment losses on goodwill are never reversed.
Financial Statements Release 2025
Changes in right-of-use assets
| EUR thousand | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Acquisition cost at the beginning of the period | 9,228 | 10,063 |
| Additions | 1,276 | 1,165 |
| Transfers between items | 644 | 221 |
| Depreciation | -2,450 | -2,222 |
| Carrying amount at the end of the period | 8,698 | 9,228 |
Values of financial assets and liabilities
| Dec 31, 2025, EUR thousand | Financial assets and liabilities at fair value through profit and loss | Financial assets and liabilities measured at amortised cost | Investments measured at fair value through other comprehensive income | Lease liabilities | Total |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Other receivables | 90 | 90 | |||
| Current assets | |||||
| Cash and cash equivalents | 13,250 | 13,250 | |||
| Accounts receivables | 2,280 | 2,280 | |||
| Total financial assets | 15,621 | 15,621 | |||
| Non-current liabilities | |||||
| Loans from financial institutions | 4,089 | 4,089 | |||
| Lease liabilities | 7,050 | 7,050 | |||
| Trade payables and advances received | 98 | 98 | |||
| Current liabilities | |||||
| Loans from financial institutions | 1,792 | 1,792 | |||
| Lease liabilities | 2,503 | 2,503 | |||
| Other loans | 2 | 2 | |||
| Trade payables and advances received | 12,364 | 12,364 | |||
| Total financial liabilities | 18,345 | 9,553 | 27,898 |
Financial Statements Release 2025
Financial Statements Release 2025
| Dec 31, 2024, EUR thousand | Financial assets and liabilities at fair value through profit and loss | Financial assets and liabilities measured at amortised cost | Investments measured at fair value through other comprehensive income | Lease liabilities | Total |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Other receivables | 90 | 90 | |||
| Current assets | |||||
| Cash and cash equivalents | 8,703 | 8,703 | |||
| Accounts receivables | 1,707 | 1,707 | |||
| Total financial assets | 10,500 | 10,500 | |||
| Non-current liabilities | |||||
| Loans from financial institutions | 2,874 | 2,874 | |||
| Lease liabilities | 7,821 | 7,821 | |||
| Other loans | 2 | 2 | |||
| Trade payables and advances received | 119 | 119 | |||
| Current liabilities | |||||
| Loans from financial institutions | 1,189 | 1,189 | |||
| Lease liabilities | 2,285 | 2,285 | |||
| Other loans | 3 | 3 | |||
| Trade payables and advances received | 10,613 | 10,613 | |||
| Total financial liabilities | 14,801 | 10,106 | 24,907 |
The fair values of financial assets and liabilities are materially similar to their carrying amounts.
The Group's financial assets are initially classified in the following categories: assets measured at amortised cost, at fair value through profit and loss or at fair value through other comprehensive income. When assessing the expected impairment for financial assets measured at amortised cost, the expected credit losses are measured and recognised based on aging classification. Financial liabilities are classified in the following categories: financial liabilities at fair value through profit and loss, lease liabilities and financial liabilities at amortised cost.
Componenta has also assessed the impact of the Russian war of aggression and the intensified geopolitical situation regarding the most significant financial risks. From Componenta's point of view the greatest impact has been on the financing risk and liquidity risk.
Loans are initially recognised at fair value and valued thereafter at amortised cost using the effective interest rate method. Substantial transaction costs are taken into account when calculating the acquisition cost.
Cash and cash equivalents include cash in hand and cash in bank accounts as well as short-term bank deposits.
The Group does not have derivative financial instruments on which hedge accounting would be applied.
20
Contingent liabilities
| EUR thousand | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Business mortgages | ||
| For own liabilities | 2,000 | 0 |
| Floating charges | ||
| For own liabilities | 15,100 | 11,500 |
| Other lease commitments | 284 | 347 |
| Other commitments | 68 | 68 |
| Total | 17,452 | 11,915 |
Secured liabilities
| EUR thousand | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Liabilities secured with pledges, real estate or business mortgages | ||
| Loans from financial institutions | 5,859 | 4,064 |
| Total | 5,859 | 4,064 |
Related party transactions
Componenta Group's related parties include the parent company, subsidiaries, company management and their related parties. The company management consists of the Board of Directors, CEO and Executive Board. Management's related parties consist of their immediate family and closely associated parties. Componenta did not have any related party transactions in 2025 nor 2024 that deviated from the usual commercial terms. Salaries and remunerations paid to the management are presented annually in the consolidated financial statements.
Financial Statements Release 2025
Group's key figures
| Dec 31, 2025 | Dec 31, 2024 | |
|---|---|---|
| Equity ratio, % | 46.5 | 41.3 |
| Equity per share, EUR | 3.50 | 2.66 |
| Invested capital at period end, EUR thousand | 49,863 | 40,006 |
| Return on investment, % | 9.8 | 6.6 |
| Return on equity, % | 26.7 | 0.8 |
| Net interest-bearing debt, EUR thousand | 2,186 | 5,472 |
| Net gearing, % | 6.4 | 21.2 |
| Order book, EUR thousand | 19,587 | 16,682 |
| Capital expenditure excl. lease liabilities, EUR thousand | 2,532 | 5,567 |
| Capital expenditure incl. lease liabilities, EUR thousand | 3,808 | 6,732 |
| Capital expenditure incl. lease liabilities, % of net sales | 3.3 | 6.9 |
| Average number of personnel during the period | 666 | 614 |
| Average number of personnel during the period, incl. leased personnel | 675 | 639 |
| Number of personnel at period end | 663 | 681 |
| Number of personnel at period end, incl. leased personnel | 676 | 689 |
| Share of export and foreign activities in net sales, % | 19.0 | 16.5 |
| Contingent liabilities, EUR thousand | 17,452 | 11,915 |
| Per Share Data | Dec 31, 2025 | Dec 31, 2024 |
| --- | --- | --- |
| Basic earnings per share, EUR | 0.83 | 0.02 |
| Diluted earnings per share, EUR | 0.79 | 0.02 |
| Cash flow per share, EUR | 0.75 | 0.85 |
Financial Statements Release 2025
Calculation of key financial ratios
| Effective dividend yield, % | = Dividend per share x 100
Market share price at period end |
| --- | --- |
| P/E multiple | = Market share price at period end
Basic earnings per share |
| Net interest bearing debt, EUR | = Interest bearing liabilities + preferred capital notes - cash and bank accounts |
| EBITDA, EUR | = Operating profit + Depreciation, amortization and write-downs +/- Share of the associated companies' result |
| Net gearing, % | = Net interest bearing liabilities x 100
Shareholders' equity, preferred capital notes excluded + non-controlling interest |
| Adjusted EBITDA, EUR | = Operating profit + Depreciation, amortization and write-downs +/- Share of the associated companies' result +/- items affecting comparability |
| Return on equity, % (ROE) | = Profit (Group) after financial items – income taxes x 100
Shareholders' equity without preferred capital notes + non-controlling interest (starting & closing balance average) |
| Equity per share, EUR | = Shareholders' equity, preferred capital notes excluded
Number of shares at period end |
| Equity ratio, % | = Shareholders' equity, preferred capital notes excluded + non-controlling interest x 100
Balance sheet total - advances received |
| Market capitalization, EUR | = Number of shares x market share price at period end |
| Average trading price, EUR | = Trading volume
Number of shares traded during the financial period |
| Divident per share, EUR | = Dividend
Number of shares at period end |
| Payout ratio, % | = Dividend x 100
Earnings (as in Basic earnings per share) |
| Cash flow per share, EUR (CEPS) | = Net cash flow from operating activities
Average number of shares during the financial period |
| Return on investment, % (ROI) | = Profit (Group) after financial items + interest and other financial expenses x 100
Shareholders' equity + interest bearing liabilities (starting & closing balance average) |
| Basic earnings per share, EUR (EPS) | = Profit after financial items – income taxes +/- non-controlling interest
Average number of shares during the financial period |
| Earnings per share with dilution, EUR | = As above, the number of shares has been increased with the possible warrants outstanding. When calculating the dilution effect of warrants, the number of shares has been adjusted with the number of own shares which the company could have acquired, if it would have used the funds generated from the warrants to buy back of own shares at market price (= average trading price). After tax interest expense of the possible convertible loan has been added to the profit of the period. Number of shares that can be subscribed by the loan has been added to the number of total shares. |
Financial Statements Release 2025
COMPONENTA
Componenta Corporation
Address: Teknobulevardi 3-5, FI-01530 Vantaa, Finland
Tel. +358 10 403 00
E-mail: [email protected]
www.componenta.com