Siili Solutions Plc, Business review, 1 January–30 September 2025 (unaudited)
Siili Solutions Plc, Business review, 1 January–30 September 2025 (unaudited)
Renewal in line with the strategy is progressing, customer demand in AI projects has strengthened
Siili Solutions Plc Stock Exchange Release 21 October 2025 at 9:30 am EEST
JANUARY-SEPTEMBER 2025
- We strengthened our overall offering in response to market demand, and launched a new Advisory business area
- The revenue for the first three quarters was EUR 81 430 (83 310) thousand, representing decrease of -2.3% year on year
- Adjusted EBITA for the first quarter was EUR 3 127 (4 006) thousand, which corresponds to 3.8% (4.8%) of revenue
JULY-SEPTEMBER 2025
- We renewed our organization and operating model
- We continued to strengthen our competence profile to match our strategy and the current market situation
- The revenue for the first quarter was EUR 23 886 (24 124) thousand, representing decrease of -1.0% year on year.
- Adjusted EBITA for the first quarter was EUR 565 (697) thousand, which corresponds to 2.4% (2.9%) of revenue
| EUR million | 7-9/2025 | 7-9/2024 | 1-9/2025 | 1-9/2024 |
| Revenue | 23.9 | 24.1 | 81.4 | 83.3 |
| Revenue growth, % | -1.0% | -10.8% | -2.3% | -9.8% |
| Organic revenue growth, % | -2.5% | -10.8% | -4.1% | -9.8% |
| Share of international revenue, % | 27.4% | 31.7% | 26.5% | 29.1% |
| Adjusted EBITA | 0.6 | 0.7 | 3.1 | 4.0 |
| Adjusted EBITA, % of revenue | 2.4% | 2.9% | 3.8% | 4.8% |
| EBITA | -1.1 | 0.7 | 0.5 | 3.4 |
| EBIT | -1.5 | 0.4 | -0.5 | 2.5 |
| Earnings per share, EUR | -0.21 | 0.02 | -0.12 | 0.24 |
| Number of employees at the end of the period | 839 | 945 | 839 | 945 |
| Average number of employees during the period | 870 | 956 | 891 | 976 |
| Number of full-time employees (FTE) at the end of the period | 856 | 909 | 856 | 909 |
| Number of full-time subcontractors (FTE) at the end of the period | 134 | 148 | 134 | 148 |
Outlook of 2025
Revenue for 2025 is expected to be EUR 108-130 million and adjusted EBITA EUR 4.7-7.7 million.
CEO Tomi Pienimäki:
In July–September, Siili continued the determined implementation of its strategy focusing on data and artificial intelligence. We helped our clients to gain a competitive edge amid the AI transformation and proceeded in the development of our organisation and operating model to support our strategy more strongly.
Revenue for the third quarter decreased -1.0% year-on-year, reaching EUR 23.9 million. Adjusted EBITA for the quarter was EUR 0.6 million and 2.4% of revenue.
Over the past months, we have seen a clear trend of clients moving from the conceptualisation and testing phase to more extensive data and AI projects. The average size of data and AI projects has grown significantly, and the focus has shifted from testing to real, production projects. Significant changes like the AI transformation always take time, but the direction and development we can now see are a strong indicator of the correctness of our strategy.
We have continued and extended collaboration with our long-term clients on their AI journeys and also focused strongly on acquiring new clients. Longstanding partnerships continue to provide the firm foundation of Siili’s operations, as demonstrated by our long-term collaboration with the Finnish Tax Administration and the Food Authority, for instance. We have also continued and extended our collaboration with Sanoma. Among other things, we have implemented several AI-based tools for Sanoma, speeding up the work of their journalists in terms of idea generation, background research, translation of foreign-language texts, and writing articles. Additionally, we have created and tested various AI solutions related to the production of advertisement images, financial analyses, video editing and workforce scheduling.
In August, we published The AI Ripple Effect whitepaper, which is a concrete example of Siili’s thought leadership and pioneering role in the AI era. In this publication, our experts highlight a phenomenon that is rarely discussed publicly: as software development accelerates, the main constraints shift from code to acceptance processes, quality assurance and management. Our Advisory business area launched earlier this year has already gained a solid foothold in addressing these new bottlenecks of the AI era.
In August–September, we restructured our operating model and organisation to better align it with the strategy of the Siili Group and client needs arising from the AI transformation. Going forward, Siili’s organisation will be built around three business areas:
– Siili AI Strategy & Transformation
– Siili Digital Engineering
– Siili Managed Services
In connection with the restructuring of the operating model and the organisation, we also reformed Siili Group’s management team. Tuomas Toropainen assumed the role of Group CFO at the beginning of September. In mid-September, Jaakko Aatola, responsible for Siili’s strategy and partnerships, and Markku Savusalo, heading the Digital Engineering business, were appointed to the management team. Maria Niiniharju, a previous management team member, will be responsible for Siili’s AI Strategy & Transformation business in our new organisation. There were also changes in the management of Supercharge. At the end of his significant and dedicated entrepreneurial journey, Supercharge CEO Andras Tessenyi stepped down from his position as the CEO of the company. Marton Heves, former CFO of Supercharge, was appointed CEO of Supercharge and a member of Siili’s management team from mid-September. Taru Salo continues as the Group’s Chief People Officer and a member of the management team.
In the third quarter, we continued to adapt our competence profile to align with current market demands. Our determined and continuous investment in Siilis’ competence development plays a key role in maintaining a strong competence profile. As part of the restructuring of the organisation and adjustment of the competence profile, we also conducted change negotiations in certain parts of the Siili Solutions and Siili One organisations. As a result of the negotiations, we reduced the number of employees by a total of 37. Although measures affecting employees are never easy, they helped to establish a more stable foundation for our operations.
I want to thank the entire Siili team and our clients for the third quarter of the year. We have taken many significant and concrete steps toward the implementation of our strategy and are now in a good position to continue creating client value throughout the remainder of the year.
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This is not an interim report under IAS 34. The company complies with the half-yearly reporting requirements of the Securities Markets Act and publishes business reviews for the first three and nine months of the year, which present key information on the company’s financial performance. The financial information presented in this business review is unaudited.
FURTHER INFORMATION:
CEO Tomi Pienimäki
Tel: +358 40 834 1399,
email: tomi.pienimaki(at)siili.com
CFO Tuomas Toropainen
Tel: +358 50 911 9598,
e-mail: tuomas.toropainen(at)siili.com
DISTRIBUTION:
Nasdaq Helsinki Ltd
Main media
http://www.siili.com/en
SIILI SOLUTIONS IN BRIEF:
Siili Solutions Plc is a forerunner in AI-powered digital development. Siili is the go-to partner for clients seeking growth, efficiency and competitive advantage through digital transformation. Our main markets are Finland, the Netherlands, the United Kingdom, and Germany. Siili Solutions Plc’s shares are listed on the Nasdaq Helsinki Stock Exchange. Siili has grown profitably since its founding in 2005.
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