SRV

SRV GROUP PLC    MANAGERS' TRANSACTIONS    28 NOVEMBER 2025   AT 9:50 EET

SRV Group Plc - Managers' Transactions - Tuomas Kokkila

Notification under the EU Market Abuse Regulation, article 19

SRV Group Plc - Managers' Transactions

____________________________________________

Person subject to the notification requirement  

Name: Tuomas Kokkila 

Position: Member of the Board

Issuer: SRV Yhtiöt Oyj 

LEI: 743700GB29FXC0VXF414 

Notification type: INITIAL NOTIFICATION  

Reference number: 131705/8/16 

____________________________________________

Transaction date: 2025-11-25 

Venue: NASDAQ HELSINKI LTD (XHEL)

Instrument type: SHARE

ISIN: FI0009015309 

Nature of transaction: DISPOSAL  

Transaction details: 
(1) Volume: 923 Unit price: 4.8 EUR

(2) Volume: 5000 Unit price: 4.76 EUR

(3) Volume: 55 Unit price: 4.75 EUR

(4) Volume: 500 Unit price: 4.75 EUR

(5) Volume: 924 Unit price: 4.75 EUR

Aggregated transactions (5): 

Volume: 7402 Volume weighted average price: 4.76299 EUR 

____________________________________________

Transaction date: 2025-11-25 

Venue: JNSI

Instrument type: SHARE

ISIN: FI0009015309

Nature of transaction: DISPOSAL

Transaction details:

(1): Volume: 963 Unit price: 4.8 EUR

Aggregated transactions (1): 

Volume: 963 Volume weighted average price: 4.8 EUR 

____________________________________________

Transaction date: 2025-11-25 

Venue: TQEA

Instrument type: SHARE

ISIN: FI0009015309

Nature of transaction: DISPOSAL

Transaction details:

(1): Volume: 835 Unit price: 4.75 EUR

Aggregated transactions (1): 

Volume: 835 Volume weighted average price: 4.75 EUR 

____________________________________________

Transaction date: 2025-11-26 

Venue: JNSI

Instrument type: SHARE

ISIN: FI0009015309

Nature of transaction: DISPOSAL

Transaction details:

(1): Volume: 233 Unit price: 4.76 EUR

Aggregated transactions (1): 

Volume: 233 Volume weighted average price: 4.76 EUR 

____________________________________________

Transaction date: 2025-11-26

Venue: CEUX

Instrument type: SHARE

ISIN: FI0009015309

Nature of transaction: DISPOSAL

Transaction details:

(1): Volume: 67 Unit price: 4.76 EUR

Aggregated transactions (1): 

Volume: 67 Volume weighted average price: 4.76 EUR 

For further information, please contact:  
Liisa Krogerus, Senior Vice President, General Counsel, tel. +358 400 249 251, liisa.krogerus@srv.fi  

Distribution:   
Nasdaq Helsinki  
Media   
www.srv.fi  

SRV in brief  

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the well-being of both the environment and people into consideration. We call this approach life-cycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.   

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to approximately 800 in-house staff, we have a network of around 3,200 partners.   

SRV - Building for life  

SRV GROUP PLC       STOCK EXCHANGE RELEASE         27 NOVEMBER 2025 12:15 P.M. EET

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, SINGAPORE, JAPAN, NEW ZEALAND, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE CAPITAL SECURITIES OR THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.

SRV files listing application and publishes listing prospectus in respect of its EUR 22.5 million green capital securities

SRV Group Plc ("SRV") announced on 24 November 2025 the issuance of new unsecured and subordinated green capital securities of EUR 22.5 million (the "Capital Securities"). The Capital Securities do not have a specified maturity date, but SRV is entitled to redeem the Capital Securities at their nominal amount on the reset date of 1 December 2028 (the "Reset Date") and on each interest payment date thereafter.

The Capital Securities bear a fixed interest rate of 10.00% per annum from the issue date to the Reset Date (but excluding the Reset Date). From the Reset Date (and including the Reset Date), the Capital Securities will bear a floating interest as defined in the terms and conditions of the Capital Securities.

The Finnish Financial Supervisory Authority has today approved the listing prospectus of the Capital Securities. The listing prospectus is available later today in English on SRV's website at https://www.srv.fi/en/srv-as-a-company/investor/financials/unsecured-notes/.

SRV has today submitted a listing application with Nasdaq Helsinki Ltd ("Nasdaq Helsinki") for the admission to trading of the Capital Securities on the on the list of sustainable bonds of Nasdaq Helsinki. Subject to the approval of the listing application, trading in the Capital Securities is expected to commence on or about 1 December 2025. The ISIN code of the Capital Securities is FI4000597992.

Nordea Bank Abp and Swedbank AB (publ) acted as the joint lead managers in the issue of the Capital Securities and green structurers.

Further enquiries:

Saku Sipola, CEO, saku.sipola@srv.fi, +358 40 551 5953
Jarkko Rantala, CFO, jarkko.rantala@srv.fi, +358 40 674 1949

Distribution:

Nasdaq Helsinki
Media
www.srv.fi

SRV in brief

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the well-being of both the environment and people into consideration. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to approximately 800 in-house staff, we have a network of around 3,200 partners.

SRV - Building for life
 

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Singapore, Japan, New Zealand, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the Capital Securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The Capital Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This communication does not constitute an offer of the Capital Securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the Capital Securities. Consequently, this communication is directed only at (i) persons who are outside the United Kingdom, (ii) persons in the United Kingdom that are qualified investor within the meaning of Article 2(e) of the Prospectus Regulation ((EU) 2017/1129) as incorporated into UK domestic law by virtue of the European Union (Withdrawal) Act 2018 that are also (a) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), (b) high net worth entities, and (iii) other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to, and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

SRV GROUP PLC    MANAGERS' TRANSACTIONS    25 NOVEMBER 2025   AT 16:15 EET

SRV Group Plc - Managers' Transactions - Tuomas Kokkila
 

Notification under the EU Market Abuse Regulation, article 19

SRV Group Plc - Managers' Transactions

____________________________________________

Person subject to the notification requirement  

Name: Pontos Oy

Position: Closely associated person

(X) Legal person (1):Person Discharging Managerial Responsibilities in Issuer

Name: Tuomas Kokkila 

Position: Member of the Board

Issuer: SRV Yhtiöt Oyj 

LEI: 743700GB29FXC0VXF414 

Notification type: INITIAL NOTIFICATION  

Reference number: 131154/12/16 

____________________________________________

Transaction date: 2025-11-24 

Outside a trading venue

Instrument type: DEBT INSTRUMENT

ISIN: FI4000315395 

Nature of transaction: DISPOSAL  

Transaction details (1):

Volume: 1024160 Unit price: 100 PCT

Aggregated transactions (1): 

Volume: 1024160 Volume weighted average price: 100 PCT 

____________________________________________

Transaction date: 2025-11-24 

Outside a trading venue

Instrument type: DEBT INSTRUMENT

ISIN: FI4000597992 

Nature of transaction: SUBSCRIPTION

Transaction details (1):

Volume: 500000 Unit price: 100 PCT

Aggregated transactions (1): 

Volume: 500000 Volume weighted average price: 100 PCT 

For further information, please contact:  
Liisa Krogerus, Senior Vice President, General Counsel, tel. +358 400 249 251, liisa.krogerus@srv.fi  

Distribution:   
Nasdaq Helsinki  
Media   
www.srv.fi  

SRV in brief  

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the well-being of both the environment and people into consideration. We call this approach life-cycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.   

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to approximately 800 in-house staff, we have a network of around 3,200 partners.   

SRV - Building for life  

SRV GROUP PLC              STOCK EXCHANGE RELEASE, INSIDE INFORMATION                  24 NOVEMBER 2025 17:45 P.M. EET

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, SINGAPORE, JAPAN, NEW ZEALAND, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW CAPITAL SECURITIES, THE LIMITED REPURCHASES OF THE EXISTING CAPITAL SECURITIES OR THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.

INSIDE INFORMATION: SRV successfully issues EUR 22.5 million green capital securities and completes partial repurchases of its existing convertible capital securities

SRV Group Plc ("SRV") issues new unsecured and subordinated green capital securities of EUR 22.5 million (the "New Capital Securities"). The New Capital Securities do not have a specified maturity date, but the company is entitled to redeem the New Capital Securities at their nominal amount on the reset date of 1 December 2028 ("Reset Date") and on each interest payment date thereafter. The issue date of the New Capital Securities is expected to be on or about 1 December 2025.

The New Capital Securities bear a fixed interest rate of 10.00% per annum from the issue date to the Reset Date (but excluding the Reset Date). From the Reset Date (and including the Reset Date), the New Capital Securities will bear a floating interest rate as defined in the terms and conditions of the New Capital Securities.

The New Capital Securities are hybrid instruments that are subordinated to certain other debt obligations and are treated as equity in SRV's consolidated financial statements prepared in accordance with IFRS. The New Capital Securities do not confer to its holders the rights of a shareholder and the New Capital Securities do not dilute the holdings of the current shareholders.

SRV further announces that it repurchases its existing convertible capital securities (ISIN FI4000198122 and FI4000315395) (the "Existing Capital Securities") from a very limited and pre-determined group of holders of the Existing Capital Securities (each a "Repurchase" or together "Repurchases") in an aggregate repurchase amount of EUR 15.9 million (FI4000198122 amounting to approximately EUR 5.8 million and FI4000315395 amounting to approximately EUR 10.1 million). The completion of the Repurchases is conditional on the settlement of the issue of the New Capital Securities. All the Existing Capital Securities purchased by the company will be cancelled. Any Existing Capital Securities not purchased as part of the Repurchases will remain outstanding.

SRV will submit an application for the admission to trading of the New Capital Securities on the official list of Nasdaq Helsinki Ltd.

An amount equivalent to the net proceeds from the issue of the New Capital Securities will be used for financing or refinancing of eligible green projects in accordance with SRV's Green Bond Framework dated 19 November 2025.

Nordea Bank Abp and Swedbank AB (publ) acted as the joint lead managers in the issue of the New Capital Securities and green structures. Further, Nordea Bank Abp and Swedbank AB (publ) acted as the dealer managers of the Repurchases.

Further enquiries:

Saku Sipola, CEO, saku.sipola@srv.fi, +358 40 551 5953
Jarkko Rantala, CFO, jarkko.rantala@srv.fi, +358 40 674 1949

Distribution:

Nasdaq Helsinki
Media
www.srv.fi

SRV in brief

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the well-being of both the environment and people into consideration. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to approximately 800 in-house staff, we have a network of around 3,200 partners.

SRV - Building for life

Important Information

The contemplated limited repurchases of the Existing Capital Securities are not available to the public either inside or outside of Finland. The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Singapore, Japan, New Zealand, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the New Capital Securities or Existing Capital Securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The Existing Capital Securities or the New Capital Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This communication does not constitute an offer of the New Capital Securities or the Existing Capital Securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the New Capital Securities or the Existing Capital Securities. Consequently, this communication is directed only at (i) persons who are outside the United Kingdom, (ii) persons in the United Kingdom that are qualified investor within the meaning of Article 2(e) of the Prospectus Regulation ((EU) 2017/1129) as incorporated into UK domestic law by virtue of the European Union (Withdrawal) Act 2018 that are also (a) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), (b) high net worth entities, and (iii) other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to, and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

SRV GROUP PLC              STOCK EXCHANGE RELEASE, INSIDE INFORMATION                      19 NOVEMBER 2025, 12:00 P.M. EET

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, SINGAPORE, JAPAN, NEW ZEALAND, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW CAPITAL SECURITIES, THE LIMITED REPURCHASES OF THE EXISTING CAPITAL SECURITIES OR THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.

INSIDE INFORMATION: SRV considers issuance of new green capital securities and limited repurchases of the existing convertible capital securities

SRV Group Plc ("SRV") is considering the issuance of new unsecured, subordinated and perpetual green capital securities (the "New Capital Securities") with an aggregate principal amount in the range of EUR 20-30 million (the "Issue"). The Issue of the New Capital Securities is expected to take place in the near future subject to market conditions. 

An amount equivalent to the net proceeds from the Issue of the Capital Securities is intended to be used for financing or refinancing eligible green projects in accordance with SRV's Green Bond Framework ("Framework"). The Framework is being published today on the company's website at https://www.srv.fi/en/srv-as-a-company/investor/financials/unsecured-notes/.

In connection with the Issue, SRV considers repurchasing its existing convertible capital securities (ISIN FI4000198122 and/or FI4000315395) (the "Existing Capital Securities") from a very limited and pre-determined group of holders of the Existing Capital Securities, who are offered the opportunity to subscribe for the New Capital Securities in the Issue (each a "Repurchase" or together "Repurchases"). The price as well as other terms and conditions for each Repurchase will be at arm's length and are determined in private and individual negotiations. The Repurchases are conditional on the Issue of the New Capital Securities.

Nordea Bank Abp and Swedbank AB (publ) act as the joint lead managers in the potential Issue and green structurers. Further, Nordea Bank Abp and Swedbank AB (publ) act as the dealer managers of the potential Repurchases.

Further enquiries:

Saku Sipola, CEO, saku.sipola@srv.fi, +358 40 551 5953
Jarkko Rantala, CFO, jarkko.rantala@srv.fi, +358 40 674 1949

Distribution:

Nasdaq Helsinki

Media

www.srv.fi

SRV in brief

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the well-being of both the environment and people into consideration. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to approximately 800 in-house staff, we have a network of around 3,200 partners.

SRV - Building for life

Important Information

The contemplated limited repurchases of the Existing Capital Securities are not available to the public either inside or outside of Finland. The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Singapore, Japan, New Zealand, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the New Capital Securities or Existing Capital Securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The Existing Capital Securities or the New Capital Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This communication does not constitute an offer of the New Capital Securities or the Existing Capital Securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the New Capital Securities or the Existing Capital Securities. Consequently, this communication is directed only at (i) persons who are outside the United Kingdom, (ii) persons in the United Kingdom that are qualified investor within the meaning of Article 2(e) of the Prospectus Regulation ((EU) 2017/1129) as incorporated into UK domestic law by virtue of the European Union (Withdrawal) Act 2018 that are also (a) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), (b) high net worth entities, and (iii) other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to, and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

SRV GROUP PLC    STOCK EXCHANGE RELEASE     5 NOVEMBER 2025   8:30 EET 

SRV announces updated long-term financial objectives; strategy remains unchanged 

The Board of Directors of SRV Group Plc has confirmed updated long-term financial objectives for the company. The objectives remain the same in substance, but they are now aimed to be achieved during 2029-2030, depending on market conditions. The objectives were originally set to be reached in 2027, but due to an exceptionally prolonged weak market situation, the schedule has been delayed. 

SRV's long-term financial objectives 

The company's operations are guided by the following long-term financial objectives that it aims to achieve by 2029-2030:  

· Operative operating profit of at least EUR 50 million (unchanged) 

· Revenue > EUR 900 million (unchanged) 

The company's dividend policy objective to distribute 30-50% of annual profit, taking into account the company's outlook and capital requirements, remains unchanged. 

Prolonged lack of demand has postponed the achievement of long-term financial objectives 

For almost three years, the near-complete absence of consumer and investor demand has delayed the strategic shift in the project portfolio. As a result, achieving the long-term financial objectives has been postponed. Currently, the company's project portfolio is exceptionally weighted toward contracting, particularly cooperative public-sector business premises projects. 

In a challenging market environment, SRV has managed to increase its market share. The company has become Finland's largest builder of business premises and is particularly strong in public-sector contracting and lifecycle projects, while also proving its competitiveness in residential contracting in recent years. The EUR 930 million contracting order backlog, along with approximately EUR 1.1 billion worth of projects already won but not yet included in the backlog, ensures volume for the coming years. 
 
Profitable growth from business premises and residential construction based on SRV's own project development 
 
SRV seeks profitable growth in its strategy by gradually increasing the share of residential construction and, in particular, business premises and residential construction based on SRV's own project development as soon as market conditions allow. The company believes that urbanization will continue and is expected to restore consumer and investor demand, especially in residential construction but also in business premises construction, over the coming years. To be ready to meet growing demand, SRV has actively strengthened its project development pipeline required for the growth of development and developer-contracted production and has made its first carefully targeted land acquisitions. The project development pipeline has grown by approximately 50 percent over the past two years, totaling about one million square meters of floor area. 
 
SRV focuses on three main aspects in portfolio management. First, the goal is to strengthen SRV's leading position in cooperative and other contracting. Second, the aim is to increase the share of development and developer-contracted projects to 30-40% of revenue. Third, the company targets growing residential projects to 30-40% of revenue. The gradual strengthening of SRV's balance sheet-most recently through the agreement to sell SRV Infra Oy (announced on 27 October 2025)-enhances the company's ability to finance land acquisitions for development and developer-contracted production and, in particular, the capital tied to developer-contracted production as its volume grows. 

"Increasing the share of development projects built for property investors and developer-contracted residential projects sold to consumers in our project portfolio will grow our revenue and improve the average profitability of projects. We have a significantly expanded project development pipeline, which we have invested heavily in over recent years. In addition, we have carried out our first carefully targeted land acquisitions. Thanks to the work done and our strengthened balance sheet, we will be able to quickly increase the number of projects based on our own development as the market increasingly allows in the coming years," says Saku Sipola, President and CEO of SRV Group Plc.  

"At the same time, various forms of contracting-such as lifecycle projects, data centers, and residential contracting, and especially slightly lower-margin and lower-risk cooperative contracting-remain an important cornerstone for us." 

Webcast 

SRV will present its updated long-term financial objectives and provide insights into its strategy and the outlook for the construction market in a webcast for investors, analysts, and media representatives starting today, 5 November 2025, at 14:00. The event can be followed live via webcast or as a recording afterwards at https://srv.videosync.fi/2025-11-5. The presentation materials will be available after the event on SRV's website at www.srv.fi/en/investor. The language of the event is Finnish. 

For further information, please contact: 
Saku Sipola, CEO, SRV Group Plc, tel. +358 40 551 5953, saku.sipola@srv.fi 
Miia Eloranta, Senior Vice President, Communications and Marketing, tel. +358 50 441 4221, miia.eloranta@srv.fi

Distribution: 
Nasdaq Helsinki 
Media 
www.srv.fi

You can also find us on the social media: 

Facebook   LinkedIn  X  Instagram  
  

SRV in brief  

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the well-being of both the environment and people into consideration. We call this approach life-cycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.  

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to approximately 800 in-house staff, we have a network of around 3,200 partners.  

SRV - Building for life 

SRV GROUP PLC          INSIDER INFORMATION         27 OCTOBER 2025 11:00 A.M. EET

INSIDER INFORMATION: SRV Group Plc to sell the entire shareholding of SRV Infra Ltd to Kreate Ltd

SRV Group Plc has today signed an agreement to sell the entire shareholding of SRV Infra Ltd to Kreate Ltd. The enterprise value of the transaction is approximately EUR 30 million, and the purchase price is paid in cash. If completed, the transaction will result in a sales gain of over EUR 20 million. The transaction will not affect SRV Group Plc's operational operating profit or guidance for 2025.

The completion of the transaction is subject to regulatory approvals. The parties expect the transaction to be closed by the end of 2025.

"SRV Infra Ltd has developed excellently in recent years. The sale of the company strengthens SRV's balance sheet and liquidity. This is of great importance in accelerating our strategy, where we have consistently stated our focus on growing developed and developer-contracted housing and business premises construction, as well as reinforcing building construction contracting," says Saku Sipola, CEO, SRV Group Plc. "At the same time, we see Kreate as an excellent buyer, as it has both the capability and the commitment to invest in the development of SRV Infra's strategy and personnel, consisting of approximately 100 persons."

According to CEO Saku Sipola, SRV's current cooperation with SRV Infra Ltd will continue despite the change in ownership. This is particularly important for ongoing projects and those currently under negotiation.

"In connection with the transaction, SRV and Kreate have agreed on a cooperation arrangement to ensure the smooth and uninterrupted progress of our clients' projects. The collaboration between SRV and Kreate also ensures our ability to serve our clients with high quality - and in fact more broadly - in future projects where infrastructure construction, building construction, and building technology play significant roles," says Saku Sipola.

"The acquisition supports Kreate's profitable growth strategy by strengthening the expertise and business of our organization. It allows us to further deepen our focus on technically demanding infrastructure construction with sharp areas of specialization. We see strong potential for in-depth contractual cooperation between SRV and Kreate, as well as between the new and existing organizations. The positive development of the underground rock construction market is driven by investments in safety and security of supply, while urbanization and the investment needs of the green transition support foundation and special foundation construction," summarizes Timo Vikström, CEO of Kreate Group.

SRV Infra Ltd's revenue for the financial year ended 31 December 2024 amounted to EUR 52.2 million, with an operating profit of EUR 2.6 million. Of the revenue, EUR 29.1 million was generated from internal customers within the SRV Group, while EUR 23.1 million came from projects delivered to external clients. SRV Infra Ltd's revenue of EUR 52.2 million represented approximately 7.0% of SRV Group Plc's total revenue of EUR 745.8 million in 2024. As of 31 December 2024, SRV Infra Ltd's balance sheet total amounted to EUR 19.9 million, and its equity was EUR 6.9 million.

For further information, please contact:
Saku Sipola, CEO, SRV Group Plc, tel. +358 40 551 5953, saku.sipola@srv.fi

Distribution:
Media
www.srv.fi

You can also find us on the social media:
Facebook   LinkedIn   X   Instagram  

SRV in brief

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the well-being of both the environment and people into consideration. We call this approach life-cycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to approximately 800 in-house staff, we have a network of around 3,200 partners.

SRV - Building for life

SRV GROUP PLC     INTERIM REPORT      23 OCTOBER 2025    AT 08.30 EEST

SRV Interim Report 1-9/2025: Revenue and operative operating profit down - financial reserves strengthen further

July - September 2025 in brief:

• Revenue decreased to EUR 159.7 (183.5) million (-13.0 %). Revenue was down in both business construction and housing construction.
• Operative operating profit amounted to EUR 1.3 (4.5) million.Operative operating profit was weakened by the year-on-year decline in volumes, and the fact that revenue was recognised almost exclusively from contracting. During the quarter, infrastructure construction once again achieved a better margin than in the comparison period.
• Operating profit was EUR 1.3 (4.5) million. The result before taxes was EUR -1.6 (1.7) million.
• Equity ratio was 34.6 (34.5 9/2024) per cent and gearing was 64.7 (69.7 9/2024) per cent. Excluding the impact of IFRS 16, the equity ratio was 50.7 (48.2) per cent and gearing was -17.3 (-6.0) per cent.
• Financing reserves totalled EUR 106.9 (79.1 9/2024) million.
• At period-end, the order backlog stood at EUR 931.3 (1,179.6) million. The sold share of the order backlog was 90.9 (93.5) per cent. New agreements valued at EUR 150.1 (273.9) million were signed in July - September.
• In addition, the order backlog for service periods in lifecycle projects amounted to EUR 104 million.
• The B2B customer NPS (net promoter score) was 72 (74) at the end of September.

January - September 2025 in brief:

• Revenue was EUR 489.9 (536.7) million (-8.7%)
• Operative operating profit amounted to EUR 3.2 (7.3) million with an operating profit of EUR 2.8 (7.3) million.
• The result before taxes was EUR -3.4 (2.3) million.
• Earnings per share were EUR -0.2 (-0.0).
• New agreements valued at EUR 328.7 (625.2) million were signed in January - September.
   

Outlook for 2025 (specified)

During 2025, SRV's revenue and result will be affected by several factors in addition to general economic trends, such as: the margin of the order backlog and its development; the start-up of new contracts and development projects; geopolitical risks, including their related direct and indirect effects, such as material costs and the availability of materials and labour; and changes in demand. At the beginning of the year, private demand for new construction is very low in several segments. For this reason, there is significant uncertainty about the startup of new projects and their estimated revenue and margin accrual.  


In 2025, revenue will mainly consist of relatively low-margin - yet also low-risk - cooperative contracting and, to a lesser extent, of competitive and negotiated contracts. The share accounted for by development projects sold to investors will remain low. The share of revenue accounted for by developer-contracted housing production will be very slight in 2025, as no new developer-contracted projects will be completed during the year.

• Full-year consolidated revenue for 2025 is expected to decline compared with 2024 and to amount to EUR 650-680 million (revenue in 2024: EUR 745.8 million) (previously: EUR 630-680 million).
• Operative operating profit is expected to be positive (operative operating profit in 2024: EUR 10.3 million).

President & CEO's review

"In the third quarter, business volumes remained low due to weak investor and consumer demand. Our revenue was down 13 per cent year-on-year to EUR 159.7 million and operative operating profit declined to EUR 1.3 million. Operative operating profit was weakened not only by the year-on-year decline in volumes, but also by the fact that revenue was generated almost exclusively by contracting, which has a lower margin than developed and developer-contracted construction. During the quarter, infrastructure construction once again achieved a stronger margin than in the comparison period. Although the result is in line with our expectations in this market situation, it cannot be considered satisfactory. However, we will survive the recession, supported by strong contracting revenue. At the same time, we are preparing for growth in construction based on our own project development, where we see significant opportunities to strengthen profitability.

Our order backlog remained on a par with the previous quarter and stood at EUR 931 million at the end of September. Projects recognised in our order backlog during the review period included the extension of the Myllypuro health and well-being centre, seven apartment buildings and two parking facilities to be built for the City of Helsinki in Maunula, and the completion of the Market Square Hotel in Oulu. The contracts for the completion of the Market Square Hotel were signed in September, and thus we were able to start up the finishing works for the hotel's operator Scandic and owner Balder.

In addition, SRV has projects valued at about EUR 1.1 billion that have been won or committed to with preliminary or development agreements, but which have not yet been entered into the order backlog. These include the Turku Ratapiha project, the next phases of the Helsinki Laakso Joint Hospital and the final phase of the Tampere University Hospital renewal programme construction project, next to which we are currently building a new building for child and adolescent psychiatry. SRV was selected for the development phase of the renewal programme in September. If realised, SRV's share of the cooperative project management contract would amount to an estimated total of about EUR 600 million, which would be recognised in SRV's order backlog as contractor agreements are signed for the different phases over the years 2025-2032. The project would not tie up SRV's capital and, if executed, would constitute a significant part of SRV's revenue in the coming years. It is wonderful that we can once again implement such an important hospital project in Finland and utilise the special expertise we have accumulated in several previous hospital projects, such as Laakso Joint Hospital and Bridge Hospital in Helsinki, Central Finland Central Hospital Nova and Jorvi Hospital in Espoo.

In September, we signed an agreement with CSC - IT Center for Science on the launch of the development phase of the LUMI AI Factory data centre project. We bring our strong expertise in the implementation of similar technically demanding facilities to the data centre project. The project's investment potential will be determined during the development phase by the end of the year.  In order to be implemented, the project requires a separate investment decision from CSC.

In early October, we also won a new arena project when the City of Oulu selected the Raksila 2.0 business consortium formed by SRV and Trevian to build the Oulu Experience Arena and Environment project. The project will start with a two-year development and urban planning phase. The final decision on arena investment and construction will be made by the end of 2027. If carried out, SRV's share of the construction contract for the arena complex would be estimated to exceed EUR 100 million. This would be recognised in SRV's order backlog gradually and in stages from 2028 onwards. In accordance with our competition submission, a significant amount of other plots in the area will be reserved for SRV for further development.

In addition to great new projects, our position is strengthened by the fact that our financial position is strong and the number of completed, unsold apartments is low, most of which are currently leased. The company's financial reserves, consisting of cash and cash equivalents and undrawn credits, rose to EUR 107 million at the end of the review period. In addition to a sufficient order backlog and a high degree of control, solvency is an important factor for the company in an uncertain operating environment.

In the review period, we continued to promote lifecycle-wise construction. In September, we announced that we are the first construction company in Finland to calculate our corporate-level nature footprint. This was done as part of a research project in which we, together with the University of Jyväskylä and the cities of Espoo and Tampere, are developing nature footprint and handprint calculation for construction and urban planning.

With respect to the final months of the year, we do not expect to see broader recovery in the consumer and investor markets, although there are signs of improvement. However, we believe that we can still launch some development projects, and possibly developer-contracted ones, too. We expect the market to start growing from 2026 onwards, when positive wage development and declining labour taxation strengthen consumers' purchasing power and the halt in the decline in interest rates and housing prices no longer encourages people to wait to change homes. We expect growth to accelerate in 2027. We are preparing for the improving market situation by ensuring that we are optimally positioned in terms of supply. We will continue to strengthen our project development base and aim to make targeted purchases of plots, for example, during the review period, we acquired five plots in a central location in Kaleva, Tampere. As the number of residents in urban regions that are important to SRV increases and demand in different segments increases, we are prepared to launch new projects even on a tight schedule."

Saku Sipola

Group Key Figures

^1. In the calculation of earnings per share, tax-adjusted interest on hybrid bonds is deducted from the profit for the period.

^2. The figure has been adjusted to remove the impacts of IFRS 16.

Significant events after the period

There were no significant events after the end of the review period.

Helsinki, 23 October 2025
Board of Directors

All forward-looking statements in this interim report are based on management's current expectations and beliefs about future events. The company's actual results and financial position may differ materially from the expectations and beliefs such statements contain due to a number of factors that have been presented in this interim report.

Briefing, webcast and presentation materials

A briefing for analysts, investors and media representatives will be held at SRV's head office at Horisontti in Kalasatama, Helsinki on 23 October 2025, starting at 11:00 EET. A webcast of the briefing can be followed live at www.srv.fi/en/investors. A recording will be available on the website after the presentation. The materials will also be made available on the website.

For further information, please contact:
Saku Sipola, President & CEO, tel. +358 (0)40 551 5953, saku.sipola@srv.fi
Jarkko Rantala, CFO, tel. +358 (0)40 674 1949, jarkko.rantala@srv.fi
Miia Eloranta, Senior Vice President, Communications and Marketing, tel. +358 (0)50 441 4221, miia.eloranta@srv.fi  

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SRV in brief

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes into consideration the wellbeing of both the environment and people. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to about 800 SRV employees, we had a network of around 3,200 partners.

SRV - Building for life

SRV GROUP PLC     STOCK EXCHANGE RELEASE     10 SEPTEMBER 2025    17:15 EEST 
 
Composition of SRV Group Plc's Shareholders' Nomination Board 

SRV Group Plc's three largest shareholders have appointed the following members to the Shareholders' Nomination Board: 

• Ilpo Kokkila, Chair of the Board of Directors, Pontos Oy 

• Mikko Mursula, Chief Operating Officer, Ilmarinen Mutual Pension Insurance Company 

• Vesa Aho, Executive Vice President, OP Financial Group 

The right to appoint a member to the Shareholders' Nomination Board lies with those three shareholders whose share of the votes of all shares in the company is largest, based on the company's shareholders' register held by Euroclear Finland Ltd as of August 31 of the preceding calendar year of the Annual General Meeting. The biggest shareholders are AS Pontos Baltic, Ilmarinen Mutual Pension Insurance Company and Kolpi Investments Oy. 

Ilpo Kokkila has been appointed as the Chair of the Nomination Board.   

The Nomination Board, established by the General Meeting, prepares annual proposals concerning the composition and remuneration of the Board of Directors to the Annual General Meeting. 

For further information, please contact: 
Liisa Krogerus, Senior Vice President, General Counsel, tel. +358 400 249 251, liisa.krogerus@srv.fi 

Distribution:  
Nasdaq Helsinki 
Media  
www.srv.fi

You can also find us on the social media:  

Facebook   LinkedIn   X   Instagram 

SRV in brief  

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the well-being of both the environment and people into consideration. We call this approach life-cycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.  

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to approximately 800 in-house staff, we have a network of around 3,200 partners.  

SRV - Building for life  

SRV GROUP PLC                        INSIDER INFORMATION           4 SEPTEMBER 2025 AT 07.00 P.M. CET

INSIDER INFORMATION: SRV is proposed as the project management contractor for the final phase of the Tays renewal programme construction project

The agenda published (unverified) for the meeting of the Pirkanmaa Wellbeing Services County's group and facilities section, to be held on 09/09/2025, proposes that SRV be selected as the project management contractor for the final phase of the Tays renewal programme construction project.

The construction projects of the renewal programme are divided into 2-6 subprojects, with a total estimated cost of approximately EUR 900 million, and their implementation is expected to be mainly scheduled for the years 2026-2032. If realised, SRV's share of the project would amount to an estimated total of approximately EUR 600 million.

If the project goes ahead, it will be recorded in SRV's order book according to the phases ordered, estimated for the years 2025-2032. The project would not tie up SRV's capital and, if executed, would constitute a significant part of SRV's turnover in the coming years.
 

Further information:

Tero Karislahti, Director, Regions, tel: +358 40 843 9895, tero.karislahti@srv.fi

Miia Eloranta, Director of Communications and Marketing, tel: +358 50 441 4221, miia.eloranta@srv.fi
 

Distribution:
Media
www.srv.fi

You can also find us on social media: 
Facebook   LinkedIn  X  Instagram

SRV in brief 

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the well-being of both the environment and people into consideration. We call this approach life-cycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to approximately 800 in-house staff, we have a network of around 3,200 partners.

SRV - Building for life 

SRV GROUP PLC     STOCK EXCHANGE RELEASE     19 AUGUST 2025     13:15 EEST

SRV Group Plc's financial reporting in 2026

SRV Group Plc's Financial Statements Bulletin for the year 2025 will be published on Wednesday 11 February 2026 at 8:30 a.m. SRV's Annual Report for 2025 will be published on Wednesday 4 March 2026.

In addition, SRV will publish three interim reports in 2026:

• January-March on Thursday 7 May 2026 at 8:30 a.m.
• January-June on Thursday 6 August 2026 at 8:30 a.m.
• January-September on Thursday 22 October 2026 at 8:30 a.m.

SRV Group Plc's Annual General Meeting 2026 is planned to be held on Thursday 26 March 2026 at 4:00 p.m. SRV's Board of Directors will summon the Annual General Meeting at a later date.  

For further information, please contact:
Miia Eloranta, Senior Vice President, Communications and Marketing, tel. +358 (0)50 441 4221, miia.eloranta@srv.fi 

Distribution:
Nasdaq Helsinki
Media
www.srv.fi

You can also find us on the social media:

Facebook   LinkedIn  X  Instagram

SRV in brief

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes into consideration the wellbeing of both the environment and people. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to about 800 SRV employees, we had a network of around 3,200 partners.

SRV - Building for life

SRV GROUP PLC     HALF-YEAR REPORT      8 AUGUST 2025    AT 08.30 EEST

SRV Half-year Report 1-6/2025: Revenue and order backlog contract - strong financial reserves

April-June 2025 in brief:

• Revenue declined to EUR 168.7 (186.3) million (-9.4%). This decrease was due particularly to the low volume of development and developer-contracted projects.
• Operative operating profit amounted to EUR 0.8 (1.5) million. Operative operating profit was weakened by the low volume of development and developer-contracted projects. That said, infrastructure construction achieved a better margin than in the comparison period.
• Operating profit was EUR 0.7 (1.5) million. The result before taxes was EUR -1.4 (0.1) million.
• Equity ratio was 34.4 per cent (33.6% 6/2024) and gearing was 68.8 per cent (70.9% 6/2024). Excluding the impact of IFRS 16, the equity ratio was 50.1 (46.9) per cent and gearing was -13.3 (-6.2) per cent.
• Financial reserves were EUR 95.2 (80.4 6/2024) million.
• At period-end, the order backlog stood at EUR 931.8 (1,067.3) million. The sold share of the order backlog was 90.8 (92.8) per cent. New agreements valued at EUR 37.7 (215.0) million were signed in April-June.
• In addition, the order backlog for service periods in lifecycle projects amounted to EUR 105 million.
• The B2B customer NPS (Net Promoter Score) was 69 (68) at the end of June.

January-June 2025 in brief:

• Revenue amounted to EUR 330.2 (353.2) million (-6.5%).
• Operative operating profit amounted to EUR 1.9 (2.7) million with an operating profit of EUR 1.4 (2.7) million.
• The result before taxes was EUR -1.8 (0.6) million.
• Earnings per share were EUR -0.1 (-0.0).
• New agreements valued at EUR 178.6 (351.4) million were signed in January-June. 
   

Outlook for 2025 (specified)

During 2025, SRV's revenue and result will be affected by several factors in addition to general economic trends, such as: the margin of the order backlog and its development; the start-up of new contracts and development projects; geopolitical risks, including their related direct and indirect effects, such as material costs and the availability of materials and labour; and changes in demand. At the beginning of the year, private demand for new construction is very low in several segments. For this reason, there is significant uncertainty about the startup of new projects and their estimated revenue and margin accrual.


In 2025, revenue will mainly consist of relatively low-margin - yet also low-risk - cooperative contracting and, to a lesser extent, of competitive and negotiated contracts. The share accounted for by development projects sold to investors will remain low. The share of revenue accounted for by developer-contracted housing production will be very slight in 2025, as no new developer-contracted projects will be completed during the year.

• Full-year consolidated revenue for 2025 is expected to decline compared with 2024 and to amount to EUR 630-680 million (revenue in 2024: EUR 745.8 million) (previously: EUR 630-710 million).
• Operative operating profit is expected to be positive (operative operating profit in 2024: EUR 10.3 million).

President & CEO's review

"Private demand in the market remained weak in the first half of the year. Due to the exceptionally long period of weak market conditions, competition for contracts, including cooperative projects, has tightened. However, there are signs of improvement. Stronger sales of older residential units, a number of larger real estate portfolio transactions that have been completed and the development of financing for new funds create confidence in the turnaround of the market, but it is difficult to assess when and how strong it will be. In line with our strategy, we are continuing to focus on bolstering our project development portfolio in both residential and business construction in order to respond to opportunities opened up by the market turnaround and by managing our profitability through prudent risk management and project selection.

We cannot be satisfied with the second quarter of 2025. Our revenue declined by 9 per cent compared to the comparison period and was EUR 169 million. Also, our operative operating profit contracted of the comparison period. In particular, the lower volumes in development projects and the lack of developer-contracted housing projects strained our ability to generate profits. The leasing of business premises in our office skyscraper development project Horisontti accelerated towards summer. Half of the premises are now leased but due to the slower lease pace we had to recognise lease responsibilities to our second quarter result. However, margin accrual in cooperative contracting remained strong and the margin in infrastructure construction improved on the comparison period.

Our order backlog decreased in the second quarter and stood at EUR 932 million at the end of June. We estimate that the flow of orders will be signifantly stronger during the third quarter. Tendering activities continue to be active, and we are identifying projects worth several billion euros that will be included in the tender calculations of public and private actors in the coming years. In addition, previously won contracts and projects under preliminary contracts that have not as yet been recognised in our order backlog totalled around EUR 625 million at the end of June. These include the Turku Ratapiha project and the next phases of the Helsinki Laakso Joint Hospital.

The company's balance sheet is healthy. The number of unsold, completed residential units remained low at the end of June, and most of the units are leased at the moment. In June, we agreed on a new EUR 40 million unsecured revolving credit facility with our main financing banks. It is tied to our sustainability targets and strengthens our liquidity during the next three years. Our robust financial position and balance sheet are major strengths in the uncertain market situation.

Alongside the challenges posed by the market, we have made significant strides in continuously improving our operations. Project management is in good shape and efficiency is being enhanced, as evident in a number of key indicators. The rolling 12-month accident frequency rate, which is a good indicator of performance in project management and highly relevant for occupational safety, declined and was 8.9 at the end of June. Our customers are satisfied with our operations, and our NPS B2B customer satisfaction rating was 69 at the end of June. Our employees are motivated, as shown by our good NPS of 29. I am particularly pleased with our revised values, which are the outcome of extensive discussions: We're great to work with, Our expertise delivers results, Our enthusiastic approach takes us far. I believe that our values have been taken to heart by all our employees and that they support our efforts in ensuring personnel well-being, good customer service and delivering results.

We continued to forge ahead with our lifecycle-wise strategy during the review period, and in June we published a biodiversity roadmap to guide our approach to taking biodiversity into consideration in our business operations in 2025-2030. We were the first construction company to include a nature footprint target in our roadmap. The aim is to reduce the nature footprint at the corporate level and increase the positive nature handprint in cities.

In July, after the review period, we signed an agreement with real estate investment company Balder Finland for the sale and completion of the Market Square Hotel in the centre of Oulu. Thanks to this agreement with the new investor partner, construction will be restarted in autumn 2025 once the required amendments to the land lease agreements have been signed. The Market Square Hotel will be completed in summer 2026.

Due to low demand among consumers and investors, our strategy of stepping up the share of development projects in our portfolio has been delayed. During 2025, no developer-contracting projects will be recognised as income because, unlike other types of projects, developer-contracted housing is only recognised as income upon completion. A housing project intended for sale to consumers that we started up in February, Asunto Oy Espoon Niittykummun Neuvokas, will be recognised as income when completed in summer 2026.

Lower interest rates, slower inflation, the positive trend in wages and smaller taxes on work are boosting consumers' purchasing power, thereby improving opportunities for buying a residential unit; though, uncertainty about the economy is still weighing down on home-buying intentions. As interest rates remain moderate and Finland's GDP develops favourably, we expect the investor and tenant demand to gradually strengthen, of which a sign is the first portfolio deals. We have many interesting projects under development and are in a good position from a supply perspective to respond to a market turnaround. The urbanization development continues strong and we aim to launch projects for sale to consumers during this year in Finland."

Saku Sipola

Group Key Figures

1. The figure has been calculated excluding the hybrid bond interest, tax adjusted

2. The figure has been adjusted to remove the impacts of IFRS 16

Significant events after the period

There were no significant events after the end of the review period.

Espoo, 8 August 2025
Board of Directors

All forward-looking statements in this half-year report are based on management's current expectations and beliefs about future events. The company's actual results and financial position may differ materially from the expectations and beliefs such statements contain due to a number of factors that have been presented in this half-year report.

Briefing, webcast and presentation materials

A briefing for analysts, investors and media representatives will be held at SRV's head office at Horisontti in Kalasatama, Helsinki on 8 August 2025, starting at 11:00 EET. A webcast of the briefing can be followed live at www.srv.fi/en/investors. A recording will be available on the website after the presentation. The materials will also be made available on the website.

 

For further information, please contact:
Saku Sipola, President & CEO, tel. +358 (0)40 551 5953, saku.sipola@srv.fi
Jarkko Rantala, CFO, tel. +358 (0)40 674 1949, jarkko.rantala@srv.fi
Miia Eloranta, Senior Vice President, Communications and Marketing, tel. +358 (0)50 441 4221, miia.eloranta@srv.fi  
 

Distribution:
Media
www.srv.fi

You can also find us on the social media:

Facebook   LinkedIn   X   Instagram
 

SRV in brief

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes into consideration the wellbeing of both the environment and people. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to about 800 SRV employees, we had a network of around 3,200 partners.

SRV - Building for life

SRV GROUP PLC     STOCK EXCHANGE RELEASE     30 JUNE  2025      13.45 EEST

SRV Group Plc: Flagging notification in accordance with Chapter 9, Section 10 of the Securities Markets Act

On 30 June 2025, SRV Group Plc received a notification in accordance with the Securities Markets Act relating to a shareholder's intra-group arrangement in which Pontos Oy, which exercised control over SRV Group Plc's shareholder AS Pontos Baltic, has merged with Pontinvest Oy on the same date. As a result of the merger, the name of Pontinvest Oy has changed to Pontos Oy, which now exercises control over AS Pontos Baltic.

According to the notification, the total position of the party under the flagging obligation is:

Notified details of the resulting situation on the date on which the threshold was crossed:

A: Shares and voting rights

Information in relation to the person subject to the notification obligation and full chain of controlled undertakings through which the voting rights or the financial instruments are held:

For further information, please contact:
Liisa Krogerus, Senior Vice President, General Counsel, tel. +358 400 249 251, liisa.krogerus@srv.fi
Jarkko Rantala, CFO, tel. +358 40 674 1949, jarkko.rantala@srv.fi

Distribution:
Nasdaq Helsinki
Media
www.srv.fi

You can also find us on the social media:
Facebook   LinkedIn   Twitter   Instagram

SRV in brief 

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the well-being of both the environment and people into consideration. We call this approach life-cycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion. 

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to approximately 800 in-house staff, we have a network of around 3,200 partners. 

SRV - Building for life 

SRV GROUP PLC      STOCK EXCHANGE RELEASE     19 JUNE 2025    14.00 EEST

Mikko Kiesiläinen appointed SRV Group Plc's new SVP, Development and a member of Corporate Executive Team

Mikko Kiesiläinen, M. Sc. (London School of Economics), 37, has been appointed Senior Vice President, Development and a member of Corporate Executive Team of SRV Group Plc. He shall take up his position in August 2025. Most recently, Mikko Kiesiläinen has served as Chief Economist for City of Helsinki and previously in business development at Intera Partners and McKinsey & Company.

"Mikko Kiesiläinen has extensive experience in business and strategy development and implementation both in Finland and internationally. I warmly welcome Mikko to join the team and to develop SRV", says Saku Sipola, President and CEO of SRV.

"I am truly excited about the opportunity to join SRV's skilled team and to help build the future together. In my new role, I look forward to advancing both the development and implementation of the strategy," says Mikko Kiesiläinen.

Miimu Airaksinen, current SVP, Development and a member of Corporate Executive Team will leave SRV during August to join another employer.

For further information, please contact:
Saku Sipola, President & CEO, SRV, tel. +358 (0)40 551 5953, saku.sipola@srv.fi
Miia Eloranta, SVP Communications and Marketing, SRV, tel. +358 (0)50 441 4221, miia.eloranta@srv.fi

Distribution:
Nasdaq Helsinki
Media
www.srv.fi

You can also find us on the social media:
Facebook   LinkedIn  X  Instagram

SRV in brief 

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the well-being of both the environment and people into consideration. We call this approach life-cycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion. 

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to approximately 800 in-house staff, we have a network of around 3,200 partners. 

SRV - Building for life 

SRV GROUP PLC     STOCK EXCHANGE RELEASE    18 JUNE 2025   14.30 EEST

SRV Group Plc's new composition of Audit Committee

SRV Group Plc's Board has today elected new member to Audit Committee due to Hannu Leinonen's resignation on 3 June 2025.  

Tuomas Kokkila was elected as third member of the Audit Committee.

As of today, the composition of Board Committees is as follows: Heli Iisakka is Chair and Matti Ahokas and Tuomas Kokkila are members of the Audit Committee. Ari Lehtoranta is Chair and Anna Hyvönen and Tuomas Kokkila are members of the Personnel and Remuneration Committee.

For further information, please contact:
Liisa Krogerus, Senior Vice President, General Counsel, tel. +358 400 249 251, liisa.krogerus@srv.fi

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SRV in brief 

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the well-being of both the environment and people into consideration. We call this approach life-cycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion. 

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2024, our revenue totalled EUR 745.8 million. In addition to approximately 800 in-house staff, we have a network of around 3,200 partners. 

SRV - Building for life