Sitowise’s Interim Report January-September 2026: Q3 adjusted EBITA margin improved to 9.8%
Interim reports - 5.11.2026 at 8.30 UTC+2
Sitowise Group Plc, interim report 1 January – 30 September 2026, 5 November 2026 at 8:30 am EET
This release is a summary of Sitowise Group Plc’s Interim Report January–September 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.
July–September 2026 in brief
- Net sales increased by 5.3% to EUR 37.6 (35.7) million.
- Adjusted organic net sales growth was 5.3% (-1.8%).
- Adjusted EBITA was EUR 3.7 (3.2) million, or 9.8% (8.9%) of net sales.
- Operating result increased to EUR 2.5 (2.2) million, or 6.6% (6.1%) of net sales.
- Cash flow from operating activities before financial items and taxes was -0.3 (-2.9) million euros.2
- Utilization rate totaled 74.3% (74.3%).
January–September 2026 in brief
- Net sales increased by 2.1% to EUR 122.0 (119.4) million.
- Adjusted organic net sales growth was 2.1% (-0.2%).
- Adjusted EBITA was EUR 9.4 (9.6) million, or 7.7% (8,1%) of net sales.
- Operating result decreased to EUR 4.5 (5.2) million, or 3.7% (4.4%) of net sales.
- Cash flow from operating activities before financial items and taxes was 2.8 (4.7) million euros.2
- Utilization rate improved to 73.9% (73.6%).
- Order book increased by 0.7% to 140 (139) million euros.
- Leverage (net debt / EBITDA, adjusted) was 4.1x (5.4x).1
- 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.
The figures in the interim 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 | 7-9/2026 | 7-9/2025 | Change, % | 1-9/2026 | 1-9/2025 | Change, % | 1-12/2025 |
| FINANCIAL | |||||||
| Net sales | 37.6 | 35.7 | 5.3% | 122.0 | 119.4 | 2.1% | 162.3 |
| Adjusted organic growth, % | 5.3% | -1.8% | 2.1% | -0.2% | 0.5% | ||
| EBITA, adjusted | 3.7 | 3.2 | 15.1% | 9.4 | 9.6 | -2.5% | 12.4 |
| % of net sales | 9.8% | 8.9% | 7.7% | 8.1% | 7.7% | ||
| EBITA | 3.3 | 3.1 | 8.6% | 7.1 | 8.0 | -11.3% | 10.4 |
| Operating profit | 2.5 | 2.2 | 14.9% | 4.5 | 5.2 | -14.8% | 6.8 |
| % of net sales | 6.6% | 6.1% | 3.7% | 4.4% | 4.2% | ||
| Result for the period | 0.9 | 0.7 | 33.6% | 0.0 | 0.8 | -95.3% | 1.1 |
| Cash flow from operating activitiesbefore financial items and taxes 2 | -0.3 | -2.9 | 88.3% | 2.8 | 4.7 | -41.0% | 18.8 |
| Net debt 1 | 70.9 | 86.9 | -18.4% | 72.6 | |||
| Net debt / EBITDA, adjusted 1 | 4.1x | 5.4x | 4.3x | ||||
| Equity ratio, % 1 | 35.2% | 44.6% | 33.4% | ||||
| Earnings per share (EPS), EUR | 0.02 | 0.02 | 38.7% | 0.00 | 0.02 | -95.1% | 0.03 |
| OPERATIONAL | |||||||
| Number of full-time equivalent employees | 1,516 | 1,488 | 1.9% | 1,498 | 1,505 | -0.5% | 1,494 |
| Utilization rate | 74.3% | 74.3% | 73.9% | 73.6% | 73.8% | ||
| Number of working days | 66 | 66 | 188 | 188 | 251 | ||
| Order book at the end of period | 140 | 139 | 0.7% | 140 | 139 | 0.7% | 141 |
1 The comparative period figure includes both continuing and discontinued operations.
2 The figures for the reporting and comparative periods include both continuing and discontinued operations.
Acting CEO Jannis Mikkola: Net sales growth strengthened and profitability improved – we direct our expertise to growth segments
Our net sales growth strengthened in the third quarter, and profitability improved year-on-year. I am pleased with the direction of our performance and would like to thank all our employees for the progress we have made.
Infra’s net sales improved by 8.2%, with profitability clearly above our medium-term target level. Growth was supported by previously secured tramway projects, as well as transport infrastructure and green transition projects. However, weak demand for regional infrastructure planning kept Infra’s utilization rate at a moderate level.
Buildings revenue increased by 7.6% supported by data center projects in particular. More balanced project portfolio and clearly higher utilization rate supported the year-on-year improvement in profitability. Measures to strengthen project profitability continued during the quarter, and this will remain a key focus going forward.
Digital Solutions’ net sales declined by 3.4% as demand remained weak. Annual recurring revenue grew by 2.3% year-on-year. Profitability was supported by a seasonally higher share of SaaS revenue, together with the adjustment measures and operating model improvements implemented in the previous quarter.
Group net sales increased by 5.3% to EUR 37.6 million in July–September. Adjusted EBITA rose to EUR 3.7 million, and the adjusted EBITA margin increased to 9.8%. Cash flow from operating activities before financial items and taxes improved year-on-year but remained negative at EUR -0.3 million. The order book totaled EUR 140.0 million at the end of September.
After the reporting period, we celebrated Sitowise’s 50th anniversary in October. I believe Sitowise is well positioned for continued success. Strengthening profitability, increasing the share of our growth focus areas in net sales, and improving project and resource management will remain our key priorities in the coming months. The development in the third quarter provides a solid foundation for this work.
We are increasingly directing our expertise towards growing customer segments. In technical consulting, in Infra and Buildings, we are targeting growth particularly from investments in critical AI infrastructure, including data centers, energy and electricity grids, as well as investments related to the industrial green transition and security. We are focusing our expertise on these markets while the broader construction recovery and municipal demand remain subdued. The market environment for Digital Solutions is undergoing significant transformation, driven by weak demand, AI and agentic software development, which are reshaping the market and customer needs. We are responding to technological change across all our business areas by strengthening the use of AI in product development and project work, as well as by further developing our products and customer relationships. Combining technical consulting with digital expertise provides us with opportunities to develop multidisciplinary solutions for our customers.
Outlook and guidance
Outlook
Strong megatrends, such as urbanization, the renovation backlog, sustainability, digitalization and security, support the long-term growth in demand for design services, consulting and digital solutions for sustainable societies. In the short and medium term, new growth opportunities for Sitowise’s multidisciplinary expertise are arising particularly from data center, energy and power grid investments related to critical AI infrastructure, investments related to the green transition in industry, investments in security, and the development of AI-based digital solutions.
The market environment for technical consulting is expected to remain mixed towards the end of 2026 and in 2027. The growth drivers described above support particularly the development of the Infra business area. At the same time, the completion of several major public-sector alliance projects, the limited number of new large-scale municipal projects and the slow recovery of new construction are limiting demand for traditional infrastructure design, especially regarding urban and regional planning.
In the Buildings business area, the data center market is expected to create new growth. However, demand for residential construction is expected to remain at a historically low level in 2027, continuing to limit the recovery in new construction. A moderate recovery in renovation construction is expected to generate slight growth in 2026–2027.
Following the divestment of the Sweden business area, Sitowise will continue to operate in Sweden through the Digital Solutions business area. The market environment for Digital solutions in Finland and Sweden is expected to remain challenging. Public-sector budget pressures are limiting demand, while a recovery in the private sector depends on an improvement in the overall economic environment.
AI and automation are changing ways of working in technical consulting and particularly in the Digital solutions’ sector, requiring further development of competencies, data management and operating models. Especially in Digital Solutions, the advancement of AI and agentic software development is changing the market for software development services and customer needs.
Uncertainty related to the economic and geopolitical environment and the implementation of investments remains. An escalation of geopolitical tensions could slow economic growth and the recovery of construction in Sitowise’s home markets. At the same time, investments related to energy, security and security of supply may create new opportunities.
At the end of September, Infra’s order book was at a good level, supporting profitable growth in the short term. The Buildings order book was stronger than in the comparison period when taking into account the EUR 6.9 million of old suspended projects removed from the order book during the first quarter. The Digital Solutions order book declined from its previous high levels to a level closer to normal.
In addition to market developments, the company’s financial performance in full year 2026 is estimated to be affected by cost inflation including wage inflation, financing costs and items affecting comparability. The items affecting comparability are expected to more than double from the 2025 level. Finland has one more working day in 2026 than in 2025, with the difference falling in the fourth quarter. In 2027 the number of working days is one higher than in 2026.
Market outlook and current profitability
| Share of net sales | Market outlook | Current profitability | |
| Infra | 46% | Stable | Above target |
| Buildings | 32% | Weak (improving) | Clearly below target |
| Digital Solutions | 22% | Weak | Above target |
| Period: | Q3 2026 | Next 12 months | Q3 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
Sitowise has decided not to give net sales and profitability guidance for 2026.
Significant events after the review period
Shareholders’ Nomination Board
The following members have been appointed to Sitowise Group Plc's Shareholders' Nomination Board:
- Jan Hummel, Paradigm Capital AG,
- Juhana Kallio, Intera Partners Oy,
- Malin Björkmo, Handelsbanken Fonder, and
- Eero Heliövaara, Chair of Sitowise Board of Directors.
Representatives of the three largest shareholders are elected annually to Sitowise's Shareholders' Nomination Board. The company's three largest shareholders, according to the situation on the first business day of September, are each entitled to nominate one member. If a shareholder does not wish to use its nomination right, the right will be transferred to the next largest shareholder. The Nomination Board also includes the chairman of the company's board as an expert member.
The Nomination Board prepares proposals for the election and remuneration of the chairperson and members of the Board of Directors to the Annual General Meeting. The now appointed Nomination Board will forward its proposals for the 2027 Annual General Meeting to the company’s Board of Directors by 1 February 2027. The charter of the Nomination Board is available on the company’s website.
Financial reporting
Financial Statement Release 2026 will be published on 11 February 2027.
Espoo, 5 November 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 Q3 2026 earnings call will be held today, 5 November 2026 at 12 pm EET. The audiocast can be accessed either live or as a replay available at https://events.inderes.com/sitowise/2026-q3-results
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.