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Solteq’s Q3 results were disappointing. Despite the weak quarter, guidance was reiterated, indicating expectations of improvement in Q4, although profit warning risk is evident.
Solteq’s Q3 fell slightly short of our expectations. The difficult market environment continued to impact the result despite efficiency measures and cost control.
Solteq will report Q3 results this Wednesday, October 29. The company’s turnaround was prolonged during H1 amid a challenging market. In Q3, we expect both segments to show some improvement after the setback.
Solteq’s Q2 result was below our expectations. Retail & Commerce was decent, while Utilities remained the weak spot, with both the segments net sales and operating result declining from the comparison period.
Solteq’s Q2 results fell short of our expectations. Retail & Commerce profitability remained decent despite declining sales, while Utilities continued to face challenges, with both net sales and EBITDA declining y/y and below our estimates.
Solteq is set to report Q2’25 results on Thursday, August 21. We expect comparable net sales to decline modestly, while profitability continues to improve, with Utilities recovery remaining key to unlocking the company's full turnaround potential.
Solteq’s Q1 performance aligned with expectations. Profitability continued to improve y/y, driven by the Retail & Commerce segment, while net sales remained weak across both segments, though signs of gradual stabilization are emerging.
Solteq’s Q1 performance was broadly in line with our expectations. The company recorded its fifth consecutive quarter of improved comparable operating profit, though sales remained sluggish as anticipated. In the Utilities segment, recurring revenue continued to rise, exceeding 50%.
Solteq’s FY 2024 showed encouraging signs of a turnaround, with the company’s transition from a traditional IT-services provider to a vertical software company gaining momentum. While long-term potential remains, market headwinds continue to cloud the outlook.
Solteq’s Q4 results were weaker than expected. While the company maintained its profitability improvement trend in Retail & Commerce, net sales—particularly in Utilities—were disappointing. The near-term outlook for both segments remain weak, as reflected in the guidance.
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Inside Information
January 28, 2026, at 11:00 a.m. EET
Solteq Group initiates change negotiations in Finland to adjust its workforce to current demand, streamline operations, and improve profitability. At the same time, operations will be reorganized to better respond to changed customer and business needs. The change negotiations concern the Retail & Commerce and Utilities segments and aim to achieve annual cost savings of at least EUR 2.1 million.
"The prolonged weak customer demand in the software and IT sector requires us to reorganize our operations. In the current situation, the number of our personnel exceeds the amount of available work. In addition, we are renewing the Retail & Commerce organization to better meet current and future market needs. In the Utilities Software business, productization has advanced to the point that demand for work has declined significantly. Therefore, these changes also require a new way of organizing our operations," says CEO Aarne Aktan.
In Finland, Solteq will initiate change negotiations in accordance with Chapter 3, Section 16 of the Finnish Co-operation Act, based on possible production, economic, and operational grounds. The change negotiations concern employees in the Commerce & Data and Utilities Software business units, as well as in the POS/Unified Commerce business area. The change negotiations may result in the termination of employment of up to 40 employees. In addition, the planned measures may lead to changes in job descriptions, roles, terms and conditions of employment, and organizational structures for all employees involved in the negotiations. The change negotiations will commence on February 2, 2026, and are expected to be completed by March 16, 2026.
Solteq Plc
Board of Directors
Distribution:
Nasdaq Helsinki
Key media
www.solteq.com
Further Information:
CEO Aarne Aktan
Tel: +358 40 342 4440
E-mail: aarne.aktan@solteq.com
CFO, General Counsel Mikko Sairanen
Tel: +358 50 567 3421
E-mail: mikko.sairanen@solteq.com
About Solteq
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs approximately 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Other information disclosed according to the rules of the Exchange
December 19, 2025, at 2:00 p.m.
Solteq Plc's Shareholders' Nomination Committee proposes to the Annual General Meeting, planned to be held on March 26, 2026, that the Annual General Meeting should decide on the composition and remuneration of the Board of Directors as follows:
Number of Board members:
The Nomination Committee proposes that the number of members of the Board of Directors is five (5) for the term ending at the close of the Annual General Meeting of 2027.
Composition of the Board of Directors:
Of the current Board members, Lotta Kopra and Markus Huttunen have announced that they are unavailable to continue in their roles as Board members. The Nomination Board proposes the re-election of the rest of the current Board members, Markku Pietilä, Lotta Airas, Anni Sarvaranta, Mika Sutinen, and Esko Mertsalmi. Markku Pietilä is proposed as the Chairman of the Board.
Of the proposed Board members, Markku Pietilä and Lotta Airas are dependent on a significant shareholder of the company. All other proposed Board members are independent of significant shareholders. All Board members are independent of the company.
The term of the Board members ends at the close of the next Annual General Meeting. All proposed persons have given their consent to the election.
Remuneration of Board members:
The Nomination Committee proposes that the remuneration of the Board of Directors remain unchanged, except for the meeting fees of the Audit Committee.
- the Chairman of the Board of Directors shall be paid a monthly remuneration of EUR 5,000,
- members of the Board of Directors shall be paid a monthly remuneration of EUR 2,500,
- all Board members shall be paid a fee of EUR 500 per meeting, and
- ordinary and reasonable costs arising from Board work are reimbursed to the Board members.
The Nomination Committee proposes that the meeting fees of the Audit Committee be increased as follows:
- the Chair of the Audit Committee shall be paid EUR 1,500 per meeting; and
- the members of the Audit Committee shall be paid EUR 1,000 per meeting.
To date, the Chair and the members of the Audit Committee have received a meeting fee of EUR 500.
The proposed remuneration follows the company's remuneration policy.
Composition of the Nomination Committee
The Nomination Committee consists of four members, who represent the four largest shareholders of the company based on the shareholders' list dated August 31, 2025. The Nomination Committee that made the proposals to the Annual General Meeting 2026 includes:
- Markku Pietilä, Chairman of the Board, nominated by Profiz Business Solution Oy
- Jukka Vähäpesola, Head of Equities, nominated by Keskinäinen Työeläkevakuutusyhtiö Elo
- Karoliina Lindroos, Head of Responsible Investment, nominated by Keskinäinen Eläkevakuutusyhtiö Ilmarinen
- Hanna Kaskela, Senior Vice President of Sustainability & Communications, nominated by Keskinäinen työeläkevakuutusyhtiö Varma
The Nomination Committee made all its proposals unanimously. In preparing the proposals, the Committee considered the company's policy on Board diversity. The proposals of the Nomination Committee will be included in the notice of the Annual General Meeting, which will be published at a later date.
Distribution:
Nasdaq Helsinki
Key media
www.solteq.com
Further information:
Markku Pietilä
Chairman of the Board of Directors, Solteq Plc
Email: markku.pietila@solteq.com
Telephone: +358 50 045 5156
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Inside Information
December 17, 2025, at 11:35 a.m
Solteq Plc lowers its guidance for the comparable operating result for the financial year 2025 and estimates that the comparable operating result is expected to remain at the same level or improve. The company's revenue guidance remains unchanged.
The new profit guidance for 2025 is: Comparable revenue will decrease slightly, while the comparable operating result is expected to remain at the same level or improve. Excluding the divested healthcare software solutions business, comparable revenue was EUR 48,818 thousand in the financial year 2024. Comparable operating result for the financial year 2024 was EUR 710 thousand.
The previous profit guidance for 2025 was: Comparable revenue will decrease slightly, while the comparable operating result will improve significantly. Excluding the divested healthcare software solutions business, comparable revenue was EUR 48,818 thousand in the financial year 2024. Comparable operating result for the financial year 2024 was EUR 710 thousand.
The result development towards the end of the year has been impacted by slightly weaker-than-expected customer demand and delayed decision-making in several new customer projects. This is reflected in the company's profitability.
The Financial Statements Bulletin January 1 - December 31, 2025, will be published on February 12, 2026.
Espoo, December 17, 2025
Solteq Plc
Board of Directors
Distribution:
Nasdaq Helsinki
Key Media
www.solteq.com
Further Information:
CEO Aarne Aktan
Tel: +358 40 342 4440
Email: aarne.aktan@solteq.com
CFO, General Counsel Mikko Sairanen
Tel: +358 50 567 3421
E-mail: mikko.sairanen@solteq.com
About Solteq
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Interim Report
October 29, 2025, at 8.00 am
A Weak Quarter - Focus on Strengthening Profitability and Competitiveness
July-September
- Comparable revenue totaled EUR 10.4 million (11.0) and decreased by 5.2 percent. Revenue totaled EUR 10.4 million (11.4) and decreased by 9.1 percent
- Comparable EBITDA was EUR 0.4 million (1.1) and EBITDA EUR 0.4 million (0.9). Comparable EBITDA percent was 4.1 (9.6)
- Comparable operating result was EUR 0.1 million (0.5) and operating result EUR 0.1 million
(0.3). Comparable operating result percent was 1.1 (4.7) - Earnings per share was EUR -0.03 (-0.03)
January-September
- Comparable revenue totaled EUR 34.7 million (36.9) and decreased by 6.0 percent. Revenue totaled EUR 34.7 million (38.4) and decreased by 9.7 percent
- Comparable EBITDA was EUR 1.4 million (1.9) and EBITDA EUR 1.5 million (1.9). Comparable EBITDA percent was 4.0 (5.1)
- Comparable operating result was EUR 0.3 million (0.1) and operating result EUR 0.4 million
(0.1). Comparable operating result percent was 0.9 (0.4) - Earnings per share was EUR -0.06 (-0.09)
- Solteq Group's equity ratio was 29.6 percent (29.6)
- Net cash flow from operating activities was EUR -1.3 million (1.2)
- Comparable revenue will decrease slightly, while the comparable operating result will improve significantly. Excluding the divested healthcare software solutions business, comparable revenue was EUR 48,818 thousand in the financial year 2024. Comparable operating result for the financial year 2024 was EUR 710 thousand.
Key figures
|
| 7-9/2025 | 7-9/2024 | Change % | 1-9/2025 | 1-9/2024 | Change % | 1-12/2024 | Rolling 12mos |
|
|
|
|
|
|
|
|
|
|
| Revenue, TEUR | 10,389 | 11,424 | -9.1 | 34,665 | 38,394 | -9.7 | 50,869 | 47,140 |
| Comparable revenue, TEUR | 10,384 | 10,953 | -5.2 | 34,655 | 36,885 | -6.0 | 48,818 | 46,588 |
| EBITDA, TEUR | 392 | 886 | -55.8 | 1,503 | 1,860 | -19.2 | 4,073 | 3,716 |
| Comparable EBITDA, TEUR | 425 | 1,057 | -59.7 | 1,376 | 1,866 | -26.2 | 2,539 | 2,050 |
| Operating result, TEUR | 79 | 295 | -73.1 | 441 | 51 | 771.2 | 1,809 | 2,199 |
| Comparable operating result, TEUR | 114 | 514 | -77.9 | 315 | 141 | 123.3 | 369 | 544 |
| Result for the financial period, TEUR | -660 | -591 | -11.8 | -1,136 | -1,802 | 36.9 | -1,211 | -545 |
| Earnings per share, EUR | -0.03 | -0.03 | -11.8 | -0.06 | -0.09 | 36.9 | -0.06 | -0.03 |
| Operating result, % | 0.8 | 2.6 |
| 1.3 | 0.1 |
| 3.6 | 4.7 |
| Comparable operating result, % | 1.1 | 4.7 |
| 0.9 | 0.4 |
| 0.8 | 1.2 |
| Equity ratio, % * |
|
|
| 29.6 | 29.6 |
| 30.9 | 29.6 |
* The comparative information for 1-9/2024 has been adjusted; deferred tax assets and deferred tax liabilities are presented on a net basis. In the comparison period they were presented on a gross basis.
CEO Aarne Aktan: A Weak Quarter - Focus on Strengthening Profitability and Competitiveness
The third quarter was weaker than expected. The Group's comparable revenue amounted to EUR 10.4 million, decreasing by EUR 0.6 million relative to the comparison period. Efficiency measures and cost control were not sufficient to offset the impact of the sluggish market on the result. The Group's comparable operating result was EUR 0.1 million, declining by EUR 0.4 million year-on-year.
The Retail & Commerce segment performed moderately, considering the market conditions. The segment's comparable revenue was EUR 7.7 million, decreasing by EUR 0.3 million relative to the comparison period. The comparable operating result was EUR 0.6 million, down by EUR 0.1 million year-on-year.
A low invoicing rate within the consulting business dragged down the Utilities segment's performance. In contrast, the software business developed well, and successful product development projects will bring new, innovative software solutions to the market in the near future. The segment's comparable revenue was EUR 2.6 million, decreasing by EUR 0.3 million relative to the comparison period. The comparable operating result was EUR -0.4 million, weakening by EUR 0.3 million year-on-year.
The company's financial performance in the third quarter fell short of expectations. Work to adjust the cost structure and enhance operational efficiency is continuous. During the latter half of the year, the focus is on developing the offering, competitiveness, and customer value. Our confidence in the long-term direction and strategic choices remains strong.
The operating environment for the Retail & Commerce segment remains tough, and customer demand is expected to stay cautious, also in the near future. The Utilities segment's outlook is moderate: while market consolidation is reducing the overall market size, changes in regulation and market practices create demand for new IT solutions.
Profit Guidance 2025
Comparable revenue will decrease slightly, while the comparable operating result will improve significantly. Excluding the divested healthcare software solutions business, comparable revenue was EUR 48,818 thousand in the financial year 2024. Comparable operating result for the financial year 2024 was EUR 710 thousand.
Financial reporting
The Interim Report has been prepared in accordance with the recognition and valuation principles of IFRS standards and using IAS 34 and the same accounting policies as the Financial Statements 2024. The new IFRS standards, taken into use on January 1, 2025, do not have a significant impact on the Group's Interim Report. The information presented in the Interim Report has not been audited.
Attachments
Solteq Plc's Interim Report January 1 - September 30, 2025
Further Information
CEO Aarne Aktan
Tel: +358 40 342 4440
E-mail: aarne.aktan@solteq.com
CFO, General Counsel Mikko Sairanen
Tel: +358 50 567 3421
E-mail: mikko.sairanen@solteq.com
Distribution
Nasdaq Helsinki
Key media
www.solteq.com
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Financial Calendar
September 24, 2025, at 2:00 p.m.
Solteq Plc publishes the following financial reports during 2026:
Financial Statements Bulletin 2025 - February 12, 2026, at 08:00 a.m. EET
Interim Report 1-3/2026 - April 29, 2026, at 08:00 a.m. EET
Half-Year Report 1-6/2026 - August 21, 2026, at 08:00 a.m. EET
Interim Report 1-9/2026 - October 29, 2026, at 08:00 a.m. EET
The 2025 Annual Report, including the Report of the Board of Directors and Financial Statements, will be published on Solteq's website by March 4, 2026.
The Annual General Meeting is planned for March 26, 2026. The Board of Directors will convene the meeting separately at a later date.
Distribution:
Nasdaq Helsinki
Key media
www.solteq.com
Further information:
CEO Aarne Aktan
Tel: +358 40 342 4440
Email: aarne.aktan@solteq.com
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 400 professionals and has offices in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Other information disclosed according to the rules of the Exchange
September 4, 2025, at 3:00 p.m.
The Shareholders' Nomination Committee of Solteq Plc consists of representatives of the four largest shareholders, registered on August 31, 2025. The following representatives have been nominated to the Shareholders' Nomination Committee of Solteq Plc:
- Markku Pietilä, Chairman of the Board, nominated by Profiz Business Solution Oy
(11.32% shares and votes) - Jukka Vähäpesola, Head of Equities, nominated by Elo Mutual Pension Insurance Company
(10.31% shares and votes) - Karoliina Lindroos, Head of Responsible Investment and Sustainability, nominated by Ilmarinen Mutual Pension Insurance Company
(8.51% shares and votes) - Hanna Kaskela, Senior Vice President of Sustainability & Communications, nominated by Varma Mutual Pension Insurance Company
(7.97% shares and votes)
The Nomination Committee prepares proposals regarding the election and remuneration of the members of the Board of Directors to the Annual General Meeting. The newly appointed Shareholders' Nomination Committee submits its proposals to the Board of Directors no later than January 31, 2026.
Further information:
CEO Aarne Aktan
Tel: +358 40 342 4440
Email: aarne.aktan@solteq.com
Distribution:
Nasdaq Helsinki
Key media
www.solteq.com
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors, and needs related to e-commerce. The company employs over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Half-Year Report
August 21, 2025, at 8.00 am
Slight Improvement in Result - Stronger Outlook for the Rest of the Year
April-June
- Comparable revenue totaled EUR 12.1 million (12.9) and decreased by 5.6 percent. Revenue totaled EUR 12.2 million (13.4) and decreased by 9.3 percent
- Comparable EBITDA was EUR 0.4 million (0.5) and EBITDA EUR 0.5 million (0.6). Comparable EBITDA percent was 3.4 (4.1)
- Comparable operating result was EUR 0.1 million (-0.1) and operating result EUR 0.2 million
(0.0). Comparable operating result percent was 0.6 (-0.5) - Earnings per share was EUR 0.00 (-0.03)
January-June
- Comparable revenue totaled EUR 24.3 million (25.9) and decreased by 6.4 percent. Revenue totaled EUR 24.3 million (27.0) and decreased by 10.0 percent
- Comparable EBITDA was EUR 1.0 million (0.8) and EBITDA EUR 1.1 million (1.0). Comparable EBITDA percent was 3.9 (3.1)
- Comparable operating result was EUR 0.2 million (-0.4) and operating result EUR 0.4 million
(-0.2). Comparable operating result percent was 0.8 (-1.4) - Earnings per share was EUR -0.02 (-0.06)
- Solteq Group's equity ratio was 30.8 percent (29.8)
- Net cash flow from operating activities was EUR -0.4 million (1.2)
- Comparable revenue will decrease slightly, while the comparable operating result will improve significantly. Excluding the divested healthcare software solutions business, comparable revenue was EUR 48,818 thousand in the financial year 2024. Comparable operating result for the financial year 2024 was EUR 710 thousand.
Key figures
|
| 4-6/2025 | 4-6/2024 | Change % | 1-6/2025 | 1-6/2024 | Change % | 1-12/2024 | Rolling 12mos |
|
|
|
|
|
|
|
|
|
|
| Revenue, TEUR | 12,155 | 13,398 | -9.3 | 24,276 | 26,970 | -10.0 | 50,869 | 48,175 |
| Comparable revenue, TEUR | 12,145 | 12,865 | -5.6 | 24,271 | 25,931 | -6.4 | 48,818 | 47,157 |
| EBITDA, TEUR | 550 | 617 | -10.9 | 1,112 | 974 | 14.1 | 4,073 | 4,211 |
| Comparable EBITDA, TEUR | 408 | 529 | -22.9 | 951 | 809 | 17.5 | 2,539 | 2,681 |
| Operating result, TEUR | 209 | 3 | 6,182.3 | 362 | -244 | 248.2 | 1,809 | 2,414 |
| Comparable operating result, TEUR | 68 | -67 | 201.0 | 202 | -373 | 154.2 | 369 | 944 |
| Result for the financial period, TEUR | -14 | -506 | 97.3 | -476 | -1,211 | 60.7 | -1,211 | -475 |
| Earnings per share, EUR | 0.00 | -0.03 | 97.3 | -0.02 | -0.06 | 60.7 | -0.06 | -0.02 |
| Operating result, % | 1.7 | 0.0 |
| 1.5 | -0.9 |
| 3.6 | 5.0 |
| Comparable operating result, % | 0.6 | -0.5 |
| 0.8 | -1.4 |
| 0.8 | 2.0 |
| Equity ratio, % * |
|
|
| 30.8 | 29.8 |
| 30.9 | 30.3 |
* The comparative information for 1-6/2024 has been adjusted; deferred tax assets and deferred tax liabilities are presented on a net basis. In the comparison period they were presented on a gross basis.
CEO Aarne Aktan: Slight Improvement in Result - Stronger Outlook for the Rest of the Year
The positive profitability trend continued in the second quarter. The comparable operating result was EUR 0.1 million, which improved by EUR 0.1 million relative to the comparison period. This was the sixth consecutive quarter in which a comparable operating result improved year-on-year. However, profitability development was two-fold: The Retail & Commerce segment showed a good improvement in profitability, whereas the Utilities segment's profitability development fell short of expectations, mainly due to losses in the consulting business. The Group's comparable revenue was EUR 12.1 million, which diminished by EUR 0.7 million relative to the comparison period.
The Retail & Commerce segment's performance aligned with the company's expectations. The segment's comparable revenue was EUR 9.1 million, decreasing by EUR 0.4 million year-on-year. The revenue was affected by a market with continued cautiousness in customer demand and delays in investment decisions. In contrast, the segment's profitability was good: The comparable operating result was EUR 0.7 million, increasing by EUR 0.4 million year-on-year. During the review period, the company's Board of Directors appointed Petteri Ahonen as Executive Vice President of the segment and a member of the Group Executive Team. Ahonen assumed his duties in August.
During the review period, the Utilities segment's performance was particularly hampered by reduced customer invoicing rates within the consulting business. In contrast, the software business developed as expected. The segment's comparable operating result was EUR -0.6 million, a decrease of EUR 0.3 million relative to the comparison period. The revenue was EUR 3.0 million, decreasing by EUR 0.3 million year-on-year. During the review period, Jesper Kaysen assumed the role of Executive Vice President of Utilities and became a member of the Group Executive Team.
We commence the autumn season with clarity in objectives and next steps. We expect our financial performance to strengthen in the second half of the financial year. Despite the challenging operating environment and the state of the global economy, the outlook for the Retail & Commerce segment remains moderate. The market outlook for the Utilities segment is stable, and the Nordic market offers growth opportunities for both the software and consulting businesses.
Profit Guidance 2025
Comparable revenue will decrease slightly, while the comparable operating result will improve significantly. Excluding the divested healthcare software solutions business, comparable revenue was EUR 48,818 thousand in the financial year 2024. Comparable operating result for the financial year 2024 was EUR 710 thousand.
Financial reporting
The Half-Year Report has been prepared in accordance with the recognition and valuation principles of IFRS standards and using IAS 34 and the same accounting policies as the Financial Statements 2024. The new IFRS standards, taken into use on January 1, 2025, do not have a significant impact on the Group's Half-Year Report. The information presented in the Half-Year Report has not been audited.
Attachments
Solteq Plc's Half-Year Report January 1 - June 30, 2025
Further Information
CEO Aarne Aktan
Tel: +358 40 342 4440
E-mail: aarne.aktan@solteq.com
CFO, General Counsel Mikko Sairanen
Tel: +358 50 567 3421
E-mail: mikko.sairanen@solteq.com
Distribution
Nasdaq Helsinki
Key media
www.solteq.com
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors, and needs related to e-commerce. The company employs over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Changes in Board / Management / Auditors
May 28, 2025, at 3:00 p.m. EET
The Board of Directors of Solteq Plc has appointed Petteri Ahonen (b. 1970) as the EVP of the Retail & Commerce segment and a member of the Executive Team. Petteri Ahonen will assume his new role at Solteq on September 1, 2025, at the latest. Ahonen has been the EMEA General Manager for the American software company 3-GIS since 2024.
"The company has done impressive work and succeeded in turning around its profitability - and this work continues. Within the Retail & Commerce segment, I see strong potential to build success on deep industry expertise and modern, cloud-based solutions that support business transformation," says Petteri Ahonen, the newly appointed EVP of the Retail & Commerce segment.
"We received a large number of highly qualified applications for the position. Petteri stood out as an experienced and visionary leader with an exceptionally strong international background and a proven track record of driving rapid business growth. I look forward to working with Petteri," summarizes Aarne Aktan, CEO of Solteq.
The responsibility for leading the Retail & Commerce segment will be transferred to Petteri Ahonen from Mikko Sairanen, who has served as the interim EVP since November 26, 2024. Sairanen will continue as CFO, Head of Legal, and as a member of the Group Executive Team once Ahonen assumes the position.
"The interim responsibility for the leadership of Retail & Commerce has been a valuable opportunity to deepen my understanding of the segment's situation and market. I want to thank the personnel of Retail & Commerce for the excellent collaboration. I warmly welcome Petteri to Solteq," summarizes Mikko Sairanen.
Once Petteri Ahonen assumes his position, the Executive Team of Solteq Plc will consist of the following members:
Aarne Aktan, CEO;
Petteri Ahonen, EVP of the Retail & Commerce segment;
Jesper Kaysen, EVP of the Utilities segment;
Mikko Sairanen, CFO, Head of Legal;
Oona Silén, VP of People and Culture;
Christa Tavan, Director of Marketing and Communications.
Solteq Plc
Board of Directors
Distribution:
Nasdaq Helsinki
Key media
www.solteq.com
Further information:
CEO Aarne Aktan
Tel: +358 40 342 4440
Email: aarne.aktan@solteq.com
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Changes in Board / Management / Auditors
May 13, 2025, at 10:00 a.m. EET
The Board of Directors of Solteq Plc has appointed Jesper Kaysen (b.1965) as EVP of the Utilities segment and member of the Executive Team. Jesper Kaysen joined the company on March 1, 2025, as the Head of Utilities Consulting business and will assume his new responsibilities immediately.
"The industry is undergoing changes, which create growth opportunities for us. Regulation, technology, and customer expectations are evolving, and we are here to help our clients succeed. I want to support energy and utilities companies in leveraging technology and innovation sustainably. I'm excited to strengthen our position in the Nordic market," comments EVP of the Utilities Segment, Jesper Kaysen.
"Jesper brings strong and versatile expertise in the key areas of the Utilities business. He has extensive industry experience and a proven track record of successful leadership in both consulting and software development. I am very pleased that Jesper was willing to take on the leadership of the entire Utilities segment," summarizes the CEO of Solteq, Aarne Aktan.
Jesper Kaysen takes over the responsibilities for leading the Utilities segment from Solteq Plc's CEO, Aarne Aktan, who has managed it alongside his own duties since May 1, 2024.
Solteq Plc' Executive Team consists of the following members as of May 13, 2025:
Aarne Aktan, CEO;
Jesper Kaysen, EVP of the Utilities segment;
Mikko Sairanen, CFO, Interim EVP of the Retail & Commerce segment;
Oona Silén, VP of People and Culture;
Christa Tavan, Director of Marketing and Communications.
Solteq Plc
Board of Directors
Distribution:
Nasdaq Helsinki
Key media
www.solteq.com
Further information:
CEO Aarne Aktan
Tel: +358 40 342 4440
Email: aarne.aktan@solteq.com
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Interim Report
April 29, 2025, at 8.00 am
Profitability Improvement Continued.
January-March
- Comparable revenue totaled EUR 12.1 million (13.1) and decreased by 7.2 percent. Revenue totaled EUR 12.1 million (13.6) and decreased by 10.7 percent
- Comparable EBITDA was EUR 0.5 million (0.3) and EBITDA EUR 0.6 million (0.4). Comparable EBITDA percent was 4.5 (2.1)
- Comparable operating result was EUR 0.1 million (-0.3) and operating result EUR 0.2 million
(-0.2). Comparable operating result percent was 1.1 (-2.3) - Earnings per share was EUR -0.02 (-0.04)
- Solteq Group's equity ratio was 30.7 percent (30.2)
- Net cash flow from operating activities was EUR 0.0 million (1.0)
- Comparable revenue will decrease slightly, while the comparable operating result will improve significantly. Excluding the divested healthcare software solutions business, comparable revenue was EUR 48,818 thousand in the financial year 2024. Comparable operating result for the financial year 2024 was EUR 710 thousand.
Key figures
| 1-3/2025 | 1-3/2024 | Change % | 1-12/2024 | Rolling 12mos | |
| Revenue, TEUR | 12,121 | 13,571 | -10.7 | 50,869 | 49,419 |
| Comparable revenue, TEUR | 12,126 | 13,066 | -7.2 | 48,818 | 47,877 |
| EBITDA, TEUR | 562 | 358 | 57.2 | 4,073 | 4,278 |
| Comparable EBITDA, TEUR | 543 | 281 | 93.4 | 2,539 | 2,802 |
| Operating result, TEUR | 153 | -247 | 161.8 | 1,809 | 2,209 |
| Comparable operating result, TEUR | 134 | -306 | 143.9 | 369 | 809 |
| Result for the financial period, TEUR | -462 | -705 | 34.5 | -1,211 | -967 |
| Earnings per share, EUR | -0.02 | -0.04 | 34.5 | -0.06 | -0.05 |
| Operating result, % | 1.3 | -1.8 | 3.6 | 4.5 | |
| Comparable operating result, % | 1.1 | -2.3 | 0.8 | 1.7 | |
| Equity ratio, % * | 30.7 | 30.2 | 30.9 | 30.5 |
* The comparative information for 1-3/2024 has been adjusted; deferred tax assets and deferred tax liabilities are presented on a net basis. In the comparison period they were presented on a gross basis.
CEO Aarne Aktan: Profitability Improvement Continued.
The first quarter was moderate. While revenue declined, profitability continued to improve. This was the fifth consecutive quarter in which a comparable operating result improved year-on-year and the fourth in a row with a positive operating result. Performance was in line with our expectations, and the improved profitability reflects the impact of the efficiency and cost-saving measures in 2024.
The Group's comparable revenue for the review period was EUR 12.1 million, a decrease of EUR 0.9 million relative to the comparison period. The comparable operating result amounted to EUR 0.1 million, marking an improvement of EUR 0.4 million year-on-year. This was a significant achievement in a market characterized by cautious customer demand, postponed investment decisions, and global economic turmoil.
The comparable revenue for the Retail & Commerce segment was EUR 9.2 million, a decrease of EUR 0.7 million from the comparison period. However, due to successful efficiency and cost-saving initiatives, the segment's comparable operating result reached EUR 0.7 million, increasing by EUR 0.4 million year-on-year.
In the Utilities segment, revenue totaled EUR 2.9 million, down by EUR 0.3 million from the comparison period. The decline in revenue was primarily driven by weak demand in the consulting business. On the other hand, the share of SaaS-based fees in the software business increased, and recurring services accounted for over 50% of the segment's revenue. The segment's comparable operating result was EUR -0.6 million, an improvement of EUR 48 thousand year-on-year. The segment's performance is expected to improve over the remainder of the year.
During the review period, the company cancelled notes, repurchased between 2023 and 2025, worth EUR 4.3 million. These cancellations strengthen the company's financial position and reduce interest expenses. Following the cancellations, the outstanding amount of the bond is EUR 18.7 million.
Despite the challenging operating environment and global economic conditions, the outlook for the Retail & Commerce segment remains moderate. The market outlook for the Utilities segment is stable, with the Nordic region offering growth opportunities for both software and expert services businesses. Overall, we remain confident in our ability to consistently improve results during the current financial year.
Profit Guidance 2025
Comparable revenue will decrease slightly, while the comparable operating result will improve significantly. Excluding the divested healthcare software solutions business, comparable revenue was EUR 48,818 thousand in the financial year 2024. Comparable operating result for the financial year 2024 was EUR 710 thousand.
Financial reporting
The Interim Report has been prepared in accordance with the recognition and valuation principles of IFRS standards and using IAS 34 and the same accounting policies as the Financial Statements 2024. The new IFRS standards, taken into use on January 1, 2025, do not have a significant impact on the Group's Interim Report. The information presented in the Interim Report has not been audited.
Attachments
Solteq Plc's Interim Report January 1 - March 31, 2025
Further Information
CEO Aarne Aktan
Tel: +358 40 342 4440
E-mail: aarne.aktan@solteq.com
CFO, General Counsel Mikko Sairanen
Tel: +358 50 567 3421
E-mail: mikko.sairanen@solteq.com
Distribution
Nasdaq Helsinki
Key media
www.solteq.com
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Managers' Transactions
April 1, 2025, at 4:00 p.m. EET
Person subject to the notification requirement
Name: Aarne Aktan
Position: Chief Executive Officer
Issuer: Solteq Oyj
LEI: 743700HXWTM31ZHBXW13
Notification type: INITIAL NOTIFICATION
Reference number: 102515/4/4
____________________________________________
Transaction date: 2025-03-28
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI0009007991
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 463 Unit price: 0.712 EUR
(2): Volume: 1426 Unit price: 0.712 EUR
(3): Volume: 2728 Unit price: 0.714 EUR
(4): Volume: 100 Unit price: 0.73 EUR
(5): Volume: 50 Unit price: 0.73 EUR
Aggregated transactions (5):
Volume: 4767 Volume weighted average price: 0.71371 EUR
Solteq Plc
Distribution
Nasdaq Helsinki
www.solteq.com
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Decisions of the General Meeting
March 27, 2025, at 5:00 p.m. EET
The Annual General Meeting of Solteq Plc was held today, 27 March 2025. The Annual General Meeting supported all proposals made by the Board of Directors and Shareholders' Nomination Committee to the Annual General Meeting and adopted the following resolutions:
Financial statements, discharge of liability, and dividend distribution
The Annual General Meeting adopted the financial statements for the financial year 1 January-31 December 2024 and discharged the CEO and members of the Board of Directors who were active during the financial year from liability.
In accordance with the proposal of the Board of Directors, it was resolved that no dividend is distributed for the financial year that ended on 31 December 2024.
Election of the Board of Directors and their remuneration
The Annual General Meeting resolved that 7 members were elected to the Board of Directors. The Annual General Meeting resolved to elect the following members to the Board of Directors according to the proposal of the Shareholders' Nomination Committee: Markku Pietilä, Lotta Airas, Anni Sarvaranta, Mika Sutinen, Esko Mertsalmi, Lotta Kopra and Markus Huttunen.
It was resolved that a monthly remuneration of EUR 5,000 will be paid to the Chairman of the Board and EUR 2,500 to the other Board members. In addition, the Chairman and other members will be paid a meeting fee of EUR 500 for each meeting of the Board and Board committee. In addition, Board members will be reimbursed for ordinary and reasonable expenses resulting from Board work against an invoice.
Auditor
The Annual General Meeting elected audit firm PricewaterhouseCoopers Oy as the auditor of the company. In addition, if the Company has an obligation to prepare a sustainability report for the financial year 2025, the sustainability reporting assurance provider shall be the auditor of the company. PricewaterhouseCoopers Oy has informed that Tiina Puukkoniemi, Authorised Public Accountant (KHT) is the auditor with principal responsibility.
The auditor is remunerated according to a reasonable invoice approved by the company.
Remuneration report for governing bodies
The Annual General Meeting adopted the remuneration report of the company's governing bodies for the year 2024.
Authorizing the Board of Directors to decide on the issuance of shares, option rights, and other special rights entitling to shares
The Annual General Meeting authorized the Board of Directors to decide on a share issue carried out with or without payment and on issuing share options and other special rights referred to in Chapter 10, Section 1 of the Finnish Limited Liability Companies Act as follows:
The maximum total number of shares or other rights issued under the authorization is 2,000,000. The authorization includes the right to issue new shares and special rights or convey treasury shares. The new shares and rights can be issued and treasury shares conveyed in a directed share issue deviating from the shareholders' pre-emptive right of subscription if there is a weighty financial reason for the company, e.g., to improve the capital structure, to execute business acquisitions, and other business improvement arrangements. The authorization cannot be used to implement the company's incentive schemes. The authorization includes the right for the Board of Directors to decide on all other terms concerning the share issue and granting special rights, including the subscription price and payment of the subscription price in cash or in whole or in part by other means (subscription in kind) or by using the subscriber's receivable to offset the subscription price and record it in the company's balance sheet.
The authorization is effective until the next Annual General Meeting, however, no longer than 30 April 2026. This authorization cancels the corresponding decision made by the Annual General Meeting 2024.
Authorizing the Board of Directors to decide on repurchasing the company's own shares
The Annual General Meeting authorized the Board of Directors to decide on repurchasing the company's own shares. The number of own shares to be repurchased based on the authorization cannot exceed 500,000. Shares may be repurchased in one or more lots. The Company may use only unrestricted equity to repurchase its own shares.
Own shares may be repurchased otherwise than in proportion to the share ownership of the shareholders (directed repurchase). The purchase price shall be at least the lowest price paid for the company's shares in regulated trading at the time of purchase and at most the highest price paid for Company shares in regulated trading at the time of purchase.
Own shares can be purchased to be used to improve the capital structure of the company, to execute business acquisitions and other business development arrangements, or as a part of the implementation of the company's incentive schemes.
The authorization is effective until the next Annual General Meeting, however, no longer than 30 April 2026. This authorization cancels the corresponding decision made by the Annual General Meeting 2024.
Authorizing the Board of Directors to decide on accepting the company's own shares as pledge
The Annual General Meeting authorized the Board of Directors to decide on accepting the company's own shares as pledge. The Board of Directors is authorized to decide on accepting the company's own shares as pledge (directed) in connection with business acquisitions or when executing other business arrangements. The pledge may occur in one or several transactions. The number of own shares accepted as pledge cannot exceed 2,000,000. The Board of Directors decides on other terms concerning the pledge.
The authorization is effective until the next Annual General Meeting, however, no longer than 30 April 2026. This authorization cancels the corresponding decision made by the Annual General Meeting 2024.
Minutes
The minutes of the Annual General Meeting will be available by 10 April 2025 at the latest at www.solteq.com/generalmeeting.
Decisions of the Board of Directors' organizing meeting
In its organizing meeting after the Annual General Meeting, the Board of Directors elected Markku Pietilä as its chairman.
Mika Sutinen, Lotta Kopra and Markku Pietilä were elected as members of the Audit Committee. Mika Sutinen acts as the Chairman of the Audit Committee.
SOLTEQ PLC
Distribution
Nasdaq Helsinki
Key media
www.solteq.com
Further information
CEO Aarne Aktan
Tel: +358 40 342 4440
E-mail: aarne.aktan@solteq.com
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Managers' Transactions
March 20, 2025, at 5:30 p.m. EET
____________________________________________
Person subject to the notification requirement
Name: Aarne Aktan
Position: Chief Executive Officer
Issuer: Solteq Oyj
LEI: 743700HXWTM31ZHBXW13
Notification type: INITIAL NOTIFICATION
Reference number: 101109/5/5
____________________________________________
Transaction date: 2025-03-18
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI0009007991
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 6618 Unit price: 0.688 EUR
Aggregated transactions
(1): Volume: 6618 Volume weighted average price: 0.688 EUR
Solteq Plc
Distribution
Nasdaq Helsinki
www.solteq.com
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Other information disclosed according to the rules of the Exchange
March 18, 2025, at 3:45 p.m. EET
Solteq Plc ("Solteq") announces that it has repurchased its outstanding notes maturing in 2026, for an aggregate amount of EUR 2,000,000. This strategic action is part of the Company's ongoing efforts to optimize its financial structure and enhance financial flexibility.
The Board of Directors has resolved to cancel the acquired notes. This decision is expected to strengthen the Company's financial position and provide greater flexibility for future operations and investments. The buybacks reduce Solteq's interest expenses, strengthening the credit profile and reducing financial risks.
The cancellation of the acquired notes is expected to be completed by the end of March. The outstanding amount of the bond (ISIN FI4000442264) will be EUR 18,740,000 after the cancellation of the acquired notes.
SOLTEQ PLC
BOARD OF DIRECTORS
Distribution:
Nasdaq Helsinki
Key media
www.solteq.com
Further information:
CEO Aarne Aktan
Tel: +358 40 342 4440
Email: aarne.aktan@solteq.com
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 400 professionals and has offices in Finland, Sweden, Norway, Denmark, Poland, and the UK.
Stock Exchange Bulletin
Managers' Transactions
March 6, 2025, at 3:00 p.m. EET
____________________________________________
Person subject to the notification requirement
Name: Aarne Aktan
Position: Chief Executive Officer
Issuer: Solteq Oyj
LEI: 743700HXWTM31ZHBXW13
Notification type: INITIAL NOTIFICATION
Reference number: 98981/5/4
____________________________________________
Transaction date: 2025-03-04
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI0009007991
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 10000 Unit price: 0.5858 EUR
Aggregated transactions
(1): Volume: 10000 Volume weighted average price: 0.5858 EUR
Solteq Plc
Distribution
Nasdaq Helsinki
www.solteq.com
Solteq in brief
Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 400 professionals and operates in Finland, Sweden, Norway, Denmark, Poland, and the UK.
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Company Facts
Guidance
Solteq expects that its comparable revenue will decrease slightly, while the comparable operating result will improve significantly
Financial targets
Long-term goals for the business segments: Retail & Commerce min. 8% average annual growth and min. 8% EBIT-%, Utilities min. 15% average annual growth and min 18% EBIT-%
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