Half Year 2026 Siili Solutions Oyj Earnings Call Transcript
Key Points
- Secured significant new client wins, including a 4-year contract with the Finnish Food Authority and an AI transformation project with a global industrial player.
- Strengthened strategic partnerships, achieving recognized partner status with all three hyperscalers (Microsoft, Amazon, Google) and adding new sovereign cloud partners.
- Expanded existing client relationships, such as deepening cooperation with Pihlajalinna in data and AI and continuing successful collaboration with Fennia through VALA Group.
- Implemented group-wide cost savings actions expected to improve profitability considerably in H2 2026.
- Maintained a strong financial position with a healthy balance sheet and an equity ratio that grew to 51.6%.
- Revenue declined by 13% in H1 2026 and 11.8% in Q2 2026 year-over-year, reflecting challenging market conditions.
- Adjusted EBITA remained negative in both H1 and Q2 2026, at -0.4 million and -0.2 million euros respectively.
- International revenue decreased by 11.4% in euro terms, with the automotive sector facing particular challenges.
- Capacity was reduced to 929 employees and subcontractors, indicating ongoing adjustments to match lower demand.
- Net debt to EBITDA increased due to declining revenue and profitability, and the company had to lower its full-year guidance.
Good afternoon, everyone. My name is Markku Savusalo, and I work as the Interim CEO of Siili Solutions. I will go through today, together with Tuomas, our first half 2026 results for you.
But first, if there's some people in the audience that are not that familiar with Siili, some basic facts and some -- also about our offering. Siili is an AI partner and our key markets are Finland, US, UK and Germany. Our key client sectors are services, industry, public, finance and automotive. We do have specialized Siili companies, subsidiaries, Supercharge, VALA in the quality assurance, Siili Auto and Integrations Group specializing on integration.
As you can see, Siili offering is covering the all -- throughout the product life cycle of digital services, all the way from advisory and design all the way to the managed services. We added, about 1.5 years ago, this advisory team in the AI area. And now we have also paid special attention on managed services mentioned as a continuous solutions in
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