Beskrivning
| Land | Finland |
|---|---|
| Lista | First North Finland |
| Sektor | Tjänster |
| Industri | Allmänna tjänster |
Fondia Plc
Company release
2025-04-24 at 8.30 a.m. EEST
January-March 2025
The company complies with the Securities Markets Act half-yearly reporting and publishes business reviews for the first three and nine months of the year, presenting key information on the company's financial performance. The financial information presented in this Business Review is unaudited.
Figures in parentheses refer to the corresponding period of the previous year, unless otherwise stated. Fondia Plc and its group companies are hereinafter referred to as "Fondia" or the "company".
Financial development in January-March 2025
| Fondia Plc Group | 1-3/2025 | 1-3/2024 |
| Net sales, MEUR | 6.5 | 7.1 |
| Change in net sales-% | -8.7% | 6.8% |
| EBITDA, MEUR | 0.1 | 0.7 |
| EBITDA-% | 1.9 % | 9.9% |
| Adjusted EBITDA, MEUR * | 0.4 | 0.7 |
| Adjusted EBITDA-% * | 6.7% | 9.9% |
| Operating profit EBIT, MEUR | -0.1 | 0.5 |
| Operating profit EBIT-% | -1.4% | 7.1% |
| Adjusted Operating profit EBIT, MEUR * | 0.2 | 0.5 |
| Adjusted Operating profit EBIT-% * | 3.4% | 7.1% |
| Number of employees FTE, period average | 153 | 176 |
| Number of employees FTE, change in period average, % | -13.3% | 12.1% |
*In January-March 2025, non-recurring expenses totalling EUR 309 thousand were recorded. No non-recurring expenses were recorded in the comparison period.
Fondia's specified outlook for 2025
In 2025, Fondia will focus on improving profitability. The market situation remains uncertain, and this will have a weakening impact on the ability to assess the demand for legal services and the factors affecting it.
Fondia's previous outlook for 2025 (published 13 February 2025)
In 2025, Fondia will focus on improving profitability. The market situation remains uncertain, and this will have a weakening impact on the ability to assess the demand for ongoing legal services and the factors affecting it. In addition, the full impact of the company's change negotiations on the group's revenue is still difficult to estimate more precisely.
Interim CEO Timo Lappi:
"We had a difficult start to the financial year. Our company's net sales decreased by 8.7% in January-March compared to the comparison period. Net sales in Finland decreased by 13.4% in the reporting period compared to the comparison period, mainly due to the effects of change negotiations that ended in January. However, the growth in our international net sales at the beginning of the financial year was encouraging. In Sweden, our net sales already grew by 3.4% and in the Baltics it continued to grow and was 5.6% compared to the comparison period.
Fondia's operating profit margin (EBIT-%) adjusted for non-recurring items was 3.4% (7.1) in January-March. The operating profit margin for the reporting period was weakened by the decline in total net sales, which was only partially compensated by the Group's savings programme.
During the reporting period, we completed the change negotiations in the Finnish company, which started in the previous financial year, with the aim of streamlining and reorganising operations as part of our Group-wide savings programme, thereby increasing the company's productivity and competitiveness. At the same time, the Board launched a search for a new CEO and appointed Timo Lappi, Chair of the Board, as interim CEO.
In addition, we also renewed the composition and responsibilities of the Finnish and Swedish country management teams to support the change. In doing so, we streamlined management structures and strengthened our customer focus. During the reporting period, we also continued the strategy work announced earlier. The strategy work may lead to a revision or update of our company strategy and medium-term targets in the first half of the current financial year, as previously announced.
The reporting period was a disappointment for us in terms of results, although we expected a difficult start to the year in the Finnish business as a result of the change negotiations. The Swedish and Baltic businesses grew, but their growth was not enough to compensate the performance of the Finnish business. Our disappointment was mitigated by that our operating indicators started to move in a positive direction at the end of the reporting period.
We will continue to reform our operations and our focus for the current financial year will be on profitability by putting customers at the heart of everything we do, improving employee satisfaction and completing strategic development projects. We will closely monitor possible changes in the market situation. When necessary, we respond quickly to changes as appropriate, without compromising the quality of our customer service or the good customer and employee experience."
Investor communications
Fondia will publish the Business Review January-March 2025 on 24 April 2025 at 8.30 a.m. EEST. The company release on the Business Review and a video of the CEO's presentation as well as the presentation material will be available later on the company's website https://investors.fondia.com/fi/en/releases-and-publications/reports-and-presentations.
An investor call will be held on Thursday 24 April 2025 at 10.00 a.m. EEST. The investor call will be held in Finnish and can be accessed online by registering on the company's website https://player.videosync.fi/fondia/2025-q1.
For further information, please contact:
Timo Lappi, interim CEO, Chair of the Board, tel. +358 40 756 7809
Harri Savolainen, CFO, tel. +358 40 502 1919
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Fondia in brief
Fondia solves the legal needs of companies by combining the best services from internal legal departments and law firms. Fondia operates in Finland, Sweden, Estonia, and Lithuania, and the Group's net sales in 2024 were EUR 25.6 million. Fondia employs around 180 people.
www.fondia.com
Distribution:
Nasdaq Helsinki Ltd
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