Siili Solutions Plc, Financial statements bulletin, 1 January–31 December 2025 (unaudited)

Siili Solutions Plc, Financial statements bulletin, 1 January–31 December 2025 (unaudited)

Demand for artificial intelligence projects has strengthened – strategic renewal progressed as planned in a challenging market

Siili Solutions Plc Financial statements bulletin 11 February 2026 at 8:15 am (EET)

July-December 2025

We renewed our management team and organizational structure to support our strategy implementation
We saw a clear increase in demand for AI projects that create business value, and won significant new customer relationships
Revenue for the second half of the year was EUR 50,532 (52,713) thousand, representing decline of 4.1% year on year
Adjusted EBITA for the second half of the year was EUR 1,545 (1,902 ¹) thousand, which corresponds to 3.1% (3.6% ¹) of revenue

January-December 2025

We successfully launched the Advisory business area and renewed our strategic offering to meet client needs
We completed the acquisition of a majority stake in Integrations Group
Full-year revenue amounted to EUR 108,076 (111,899) thousand, representing decline of 3.4% year on year
Adjusted EBITA was EUR 4,107 (5,211 ¹) thousand, which corresponds to 3.8% (4.7% ¹) of revenue

EUR million	H2/2025	H2/2024 (restated)	2025	2024 (restated)	Q4/2025	Q4/2024 (restated)
Revenue	50.5	52.7	108.1	111.9	26.6	28.6
Revenue growth, %	-4.1%	-8.2%	-3.4%	-8.8%	-6.8%	-5.9%
Organic revenue growth, %	-5.8%	-8.2%	-5.3%	-8.8%	-8.7%	-5.9%
Share of international revenue, %	29.7%	30.2%	27.8%	29.0%	31.7%	28.8%
Adjusted EBITA ¹	1.5	1.9	4.1	5.2	1.0	1.2
Adjusted EBITA, % of revenue ¹	3.1%	3.6%	3.8%	4.7%	3.7%	4.2%
EBITA ¹	-0.2	1.9	1.4	4.6	0.9	1.2
EBIT ¹	-0.9	1.3	0.1	3.4	0.6	0.9
Earnings per share, EUR ¹	0.02	0.18	0.12	0.41	0.24	0.16
Number of employees at the end of the period	863	942	863	942	863	942
Average number of employees during the period	882	954	903	975	851	944
Total full-time employees and subcontractors (FTE) at the end of the period	909	1 033	909	1 033	909	1 033

1 The comparative figures for 2024 have been adjusted from those published in the 2024 financial statements; see details in the notes

OUTLOOK FOR 2026 AND FINANCIAL GOALS FOR 2026‑2028

Revenue for 2026 is expected to be EUR 102‑126 million and adjusted EBITA EUR 3.7‑6.9 million.

On 26 November 2024, the company announced the financial goals for the years 2025–2028 as follows:

Annual revenue growth of 20 percent, of which organic growth accounts for about half.
Adjusted EBITA 12 percent of revenue.
The aim is to keep the ratio of net debt-to-EBITDA below two.
The aim is to pay a dividend corresponding to 30–70 percent of net profit annually.

CEO TOMI PIENIMÄKI:

2025 was a significant year for Siili in many respects. During our 20th anniversary year, we took several important steps in implementing our data- and AI-focused strategy. Efforts to improve profitability continued, and we renewed our ways of working as well as our organisation over the course of the year.

Market conditions affected Siili’s revenue and growth momentum both domestically and internationally. Full-year revenue amounted to approximately EUR 108 million, representing a decrease of 3.4% year-on-year. The share of international operations was 27.8% of the Group’s revenue in 2025. Adjusted EBITA was EUR 4.1 million, corresponding to 3.8% of revenue. This year, we will continue to improve profitability and focus on growth, especially in the data and AI business.

Despite growth challenges, the year marked a success for Siili in many ways. We completed the acquisition of a majority stake in Integrations Group, strengthening our integration expertise and our ability to serve as a comprehensive digital solutions partner to our clients in line with our strategy. Early in the year, we launched our Advisory business area focused on management consulting, which performed strongly in its first year. In the spring, we also refreshed our managed services offering to better address the emerging needs of our clients in their AI transformation journey.

The strategic direction we have chosen – positioning ourselves as a forerunner in AI and data – proved to be the right one during the year. Our clients currently know Siili as a strong expert in AI transformation. By year-end, an increasing number of major Finnish companies had placed AI at the heart of its business, signalling growing demand for taking more business-critical solutions into production and scaling them.

In this market environment, we secured several new client relationships and further strengthened our position with existing clients.

Within data and AI projects, we deepened our partnership with Pihlajalinna during the year, with a particular emphasis on business-driven utilisation of data and AI. We continued our cooperation with the media company Sanoma, especially in leveraging AI, and the relationship also grew in revenue terms. On the public sector side, we significantly expanded our cooperation with the Finnish Tax Administration. Siili was also selected as Aalto University’s partner to deliver development of content management system based websites and touch points, covering the design, implementation and maintenance over a four-year contract period.

We have also taken substantial steps on the international growth front. NeuConnect – the first direct energy link between the United Kingdom and Germany – selected Siili’s subsidiary Supercharge to supply its market integration platform. We are also pursuing growth in the digitalisation of airport situational awareness systems. The Airport Operational Status (AOS) system we implemented for Finavia has attracted extensive international interest, particularly in light of new EU regulations, and we have, for example, signed an agreement with a major European airport operator for the delivery of a similar system.

During the year, we focused on renewing our competence profile, ways of working, and organisation to provide even stronger support for strategy implementation. The changes implemented through the organisational transformation launched in the autumn have significantly enhanced and clarified our operations. We continued investing in building the AI capabilities of our personnel, and approximately 80% of all Siili consultants are now capable of either utilising or implementing AI solutions in client projects. We also have strong expertise in building scalable digital platforms and AI capabilities. Our customers are increasingly seeking secure and sovereign AI capacity they can rely on. In response to this demand, in 2025 we launched Finland’s first LLM-as-a-service solution for sovereign AI together with Verda.

Our whitepaper publications and AI Roundtable events reinforced our reputation as a pioneer and long-term partner to our clients. Later in the year, we were also shortlisted as a finalist in the Most Growth-Oriented AI Project category at the AI Finland gala.

Overall, 2025 demonstrated the validity of our data- and AI-centric strategy. I would like to thank all Siilis, as well as our clients and partners, for the past year. We are now in an excellent position to continue implementing our strategy in the year ahead.

RISKS AND UNCERTAINTY FACTORS

Siili is exposed to various risk factors related to its operational activities and business environment. The realisation of risks may have an unfavourable effect on Siili’s business, financial position or company value. The most significant risks related to Siili’s operations are described below. There are also other known risks that may become significant in the future. In addition, there are risks that Siili is not necessarily aware of and which may become significant.

The loss of one or more key clients, a considerable decrease in purchases, financial difficulties experienced by clients or a change in a client’s strategy with regard to the procurement of IT services could have a negative effect on the company.
Failure to achieve recruitment goals in terms of both quality and quantity, and failure to match supply to customer demand in a timely manner.
Probability and adverse effects of the realisation of the aforementioned risks are more likely in an uncertain economic environment.
Failure in pricing, planning, implementation and improving cost efficiency of customer projects.
Loss of the contribution of key personnel or deterioration of the employer’s reputation.
Realisation of cyber or information security risks, for example, as a result of data breach and/or human error by an employee. In addition, heightened geopolitical uncertainty and increased activity by state actors have contributed to an elevated cyber threat landscape.
General negative or weakened economic development and the resulting uncertainty in the clients’ operating environment. The general economic cycle and changes in the clients’ operating environment can have negative effects through slowing down, postponing or cancelling decision-making on IT investments.

General uncertainty, together with volatility arising from macroeconomic and geopolitical factors, continues to affect our customers’ investment decisions and, consequently, to have a negative impact on Siili’s business. According to management’s assessment, the uncertainty caused by these factors will continue to affect Siili’s business operations and growth opportunities also during the current financial year. The Company actively monitors the situation and adapts its operations, including by ensuring customer satisfaction and cost efficiency.

EVENTS AFTER THE END OF THE FINANCIAL YEAR

The company does not have material events after the financial year.

DIVIDEND PROPOSAL

In line with the dividend policy approved by its Board of Directors, Siili seeks to distribute 30–70% of its profit for the period to shareholders. In addition, an additional profit distribution can be made.

On 31 December 2025, the distributable assets of the parent company of Siili Solutions Plc amounted to EUR 36,619,972.91, including the profit for the period EUR 3,219,111.97. The Board of Directors proposes to the Annual General Meeting 2026 that a dividend of EUR 0.07 per share be paid for the financial year 2025. According to the proposal, a total dividend of EUR 567,599.55 would be paid. The proposed dividend represents approximately 61% of the Group’s profit for the financial year.

No significant changes have taken place in Siili’s financial position since the end of the financial year. The company has a good level of liquidity, and the Board believes that the proposed dividend will not pose a risk to liquidity.

FINANCIAL CALENDAR FOR 2026

Siili will hold a results announcement event for analysts, portfolio managers and the media on 11 February 2026 at 1:00 p.m. The presentation materials will be published on the company website after the event.

The Annual Report 2025 will be published in electronic format on the company website on 13 March 2026.
The Annual General Meeting will be held on 8 April 2026.
The business review for 1 January–31 March 2026 will be published on 28 April 2026.
The half-year report for 1 January–30 June 2026 will be published on 11 August 2026.
The business review for 1 January–30 September 2026 will be published on 28 October 2026.

Helsinki, 11 February 2026

Board of Directors, Siili Solutions Plc

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

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.

www.siili.com

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