SRV

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

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     3 JUNE 2025   14:00 EEST 

Change in SRV Group Plc's Board of Directors  

Hannu Leinonen, a member of the Board of Directors of SRV Group Plc, has today announced his resignation from the board. Leinonen has served on SRV's board since 2020. His resignation will take effect immediately. 

"I see it as my duty to resign from the Board of Directors of SRV Group Plc. The reason is my decision to accept membership on the board of an infrastructure company, and I believe that fulfilling both board roles would become challenging from a competition perspective," Hannu Leinonen says. 

"I would like to thank Hannu Leinonen for his valuable contribution to the Board of Directors of SRV Group Plc. Over these years, he has brought strong industry expertise and strategic insight to the board. I wish Hannu the very best of success in the future," Ari Lehtoranta, Chair of the Board, says. 

Following Hannu Leinonen's departure, the Board of Directors of SRV Group Plc will temporarily consist of five members. The composition continues to meet the requirements set forth in the company's articles of association. 

For further information, please contact: 

Liisa Krogerus, General Councel, tel. +358 400 249 251, liisa.krogerus@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 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                       2 JUNE 2025 AT 09:30

SRV Group Plc has agreed on a revolving credit facility of EUR 40 million tied to sustainability objectives

SRV Group Plc has agreed on a committed, unsecured revolving credit facility (RCF) amounting to EUR 40 million with its key lenders (OP, Swedbank, Danske Bank, Nordea). The RCF matures in three years with an optional one-year extension. It replaces the previous committed, unsecured revolving credit facility amounting to EUR 40 million signed in April 2023.

The interest margin of the revolving credit facility is tied to two of SRV's key sustainability objectives: the emission intensity of indirect emissions (Scope 3) and the lost time injury frequency (LTIF). The financial covenants include equity ratio, net gearing, the ratio of interest-bearing net debt to EBITDA, and minimum liquidity.

"I want to thank our financing banks for the good cooperation. The new revolving credit facility will form the backbone of our liquidity for the next three years," says SRV's CFO Jarkko Rantala. "SRV's strategy is strongly based on lifecycle-wise construction, and a safe working environment is the foundation of our operations, so it is natural that we have tied the interest margin of the RCF to climate change mitigation and occupational safety."

For further information, please contact:
Jarkko Rantala, CFO, tel. 040 674 1949, jarkko.rantala@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    MANAGERS' TRANSACTIONS    16 MAY 2025   AT 14:45 EEST

SRV Group Plc: Managers' Transactions - Heli Iisakka

Notification under the EU Market Abuse Regulation, article 19

SRV Group Plc - Managers' Transactions

____________________________________________

Person subject to the notification requirement  

Name: Heli Iisakka 

Position: Member of the Board/Deputy member 

 Issuer: SRV Yhtiöt Oyj 

LEI: 743700GB29FXC0VXF414 

Notification type: INITIAL NOTIFICATION  

Reference number: 108758/4/4 

____________________________________________

Transaction date: 2025-05-15 

Venue: OFF-EXCHANGE LIIKETOIMET (XOFF) 

Instrument type: SHARE 

ISIN: FI4000523675 

Nature of transaction: RECEIPT OF A SHARE-BASED INCENTIVE  

Transaction details (1):

Volume: 3554 Unit price: 5.40219 EUR  

Aggregated transactions (1):  

Volume: 3554 Volume weighted average price: 5.40219 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    MANAGERS' TRANSACTIONS    16 MAY 2025   AT 14:45 EEST

SRV Group Plc: Managers' Transactions - Ari Lehtoranta

Notification under the EU Market Abuse Regulation, article 19

SRV Group Plc - Managers' Transactions

____________________________________________

Person subject to the notification requirement  

Name: Ari Lehtoranta 

Position: Member of the Board/Deputy member 

 Issuer: SRV Yhtiöt Oyj 

LEI: 743700GB29FXC0VXF414 

Notification type: INITIAL NOTIFICATION  

Reference number: 108766/7/4 

____________________________________________

Transaction date: 2025-05-15 

Venue: OFF-EXCHANGE LIIKETOIMET (XOFF) 

Instrument type: SHARE 

ISIN: FI4000523675 

Nature of transaction: RECEIPT OF A SHARE-BASED INCENTIVE  

Transaction details (1):

Volume: 5331 Unit price: 5.40219 EUR  

Aggregated transactions (1):  

Volume: 5331 Volume weighted average price: 5.40219 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    MANAGERS' TRANSACTIONS    16 MAY 2025   AT 14:45 EEST

SRV Group Plc: Managers' Transactions - Matti Ahokas

Notification under the EU Market Abuse Regulation, article 19

SRV Group Plc - Managers' Transactions

____________________________________________

Person subject to the notification requirement  

Name: Matti Ahokas 

Position: Member of the Board/Deputy member 

 Issuer: SRV Yhtiöt Oyj 

LEI: 743700GB29FXC0VXF414 

Notification type: INITIAL NOTIFICATION  

Reference number: 108749/5/4 

 ____________________________________________

Transaction date: 2025-05-15 

Venue: OFF-EXCHANGE LIIKETOIMET (XOFF) 

Instrument type: SHARE 

ISIN: FI4000523675 

Nature of transaction: RECEIPT OF A SHARE-BASED INCENTIVE  

Transaction details (1):

Volume: 2665 Unit price: 5.40219 EUR  

Aggregated transactions (1):  

Volume: 2665 Volume weighted average price: 5.40219 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    MANAGERS' TRANSACTIONS    16 MAY 2025   AT 14:45 EEST

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/Deputy member 

 Issuer: SRV Yhtiöt Oyj 

LEI: 743700GB29FXC0VXF414 

Notification type: INITIAL NOTIFICATION  

Reference number: 108701/5/4 

____________________________________________

Transaction date: 2025-05-15 

Venue: OFF-EXCHANGE LIIKETOIMET (XOFF) 

Instrument type: SHARE 

ISIN: FI4000523675 

Nature of transaction: RECEIPT OF A SHARE-BASED INCENTIVE  

Transaction details (1):

Volume: 2665 Unit price: 5.40219 EUR  

Aggregated transactions (1): 

Volume: 2665 Volume weighted average price: 5.40219 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    MANAGERS' TRANSACTIONS    16 MAY 2025   AT 14:45 EEST

SRV Group Plc: Managers' Transactions - Hannu Leinonen

Notification under the EU Market Abuse Regulation, article 19

SRV Group Plc - Managers' Transactions

____________________________________________

Person subject to the notification requirement  

Name: Hannu Leinonen 

Position: Member of the Board/Deputy member 

 Issuer: SRV Yhtiöt Oyj 

LEI: 743700GB29FXC0VXF414 

Notification type: INITIAL NOTIFICATION  

Reference number: 108710/5/4 

____________________________________________

Transaction date: 2025-05-15 

Venue: OFF-EXCHANGE LIIKETOIMET (XOFF) 

Instrument type: SHARE 

ISIN: FI4000523675 

Nature of transaction: RECEIPT OF A SHARE-BASED INCENTIVE  

Transaction details (1):

Volume: 2665 Unit price: 5.40219 EUR  

Aggregated transactions (1):  

Volume: 2665 Volume weighted average price: 5.40219 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    MANAGERS' TRANSACTIONS    16 MAY 2025   AT 14:45 EEST

SRV Group Plc: Managers' Transactions - Anna Hyvönen

Notification under the EU Market Abuse Regulation, article 19

SRV Group Plc - Managers' Transactions

____________________________________________

Person subject to the notification requirement  

Name: Anna Hyvönen 

Position: Member of the Board/Deputy member 

 Issuer: SRV Yhtiöt Oyj 

LEI: 743700GB29FXC0VXF414 

Notification type: INITIAL NOTIFICATION  

Reference number: 108698/5/4 

 ____________________________________________

Transaction date: 2025-05-15 

Venue: OFF-EXCHANGE LIIKETOIMET (XOFF) 

Instrument type: SHARE 

ISIN: FI4000523675 

Nature of transaction: RECEIPT OF A SHARE-BASED INCENTIVE  

Transaction details (1):

Volume: 2665 Unit price: 5.40219 EUR  

Aggregated transactions (1): 

Volume: 2665 Volume weighted average price: 5.40219 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    MANAGERS' TRANSACTIONS    6 MAY 2025   AT 13:15 EEST

SRV Group Plc: Managers' Transactions - Saku Sipola

Notification under the EU Market Abuse Regulation, article 19

SRV Group Plc - Managers' Transactions

____________________________________________

Person subject to the notification requirement 

Name: Saku Sipola 

Position: Chief Executive Officer 

 Issuer: SRV Yhtiöt Oyj 

LEI: 743700GB29FXC0VXF414 

Notification type: INITIAL NOTIFICATION 

Reference number: 107026/5/4 

____________________________________________

Transaction date: 2025-05-06 

Outside a trading venue 

Instrument type: SHARE 

ISIN: FI4000523675 

Nature of transaction: RECEIPT OF A SHARE-BASED INCENTIVE  

Transaction details 

(1): Volume: 5266 Unit price: 0 N/A  

Aggregated transactions (1):  

Volume: 5266 Volume weighted average price: 0 N/A 

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    MANAGERS' TRANSACTIONS    6 MAY 2025   AT 13:15 EEST

SRV Group Plc: Managers' Transactions - Jarkko Rantala

Notification under the EU Market Abuse Regulation, article 19

SRV Group Plc - Managers' Transactions

____________________________________________

Person subject to the notification requirement 

Name: Jarkko Rantala 

Position: Chief Financial Officer 

 Issuer: SRV Yhtiöt Oyj 

LEI: 743700GB29FXC0VXF414 

Notification type: INITIAL NOTIFICATION 

Reference number: 107032/5/4 

____________________________________________

Transaction date: 2025-05-06 

Outside a trading venue 

Instrument type: SHARE 

ISIN: FI4000523675 

Nature of transaction: RECEIPT OF A SHARE-BASED INCENTIVE  

Transaction details 

(1): Volume: 2528 Unit price: 0 N/A  

Aggregated transactions (1):  

Volume: 2528 Volume weighted average price: 0 N/A 

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               5 MAY 2025 at 13:15 EEST

Changes in SRV Group Plc's own shares 

SRV Group Plc has today, based on the resolution made by the Board of Directors of the company, transferred without consideration 24 961 own shares held by the company to participants of the Performance Period 2023-2024 of the Performance Share Plan 2023 for payment of rewards in accordance with the plan terms. Start of the performance period and its main terms and conditions were announced by a stock exchange release on 28 March 2023.  

The transfer of own shares is based on the authorisation granted by the Annual General Meeting held on 27 March 2025. The transfer of shares has no dilution effect on shareholdings because the shares are transferred from own shares.  

After the transfer of shares, SRV Group Plc holds 19 572 own shares.  

SRV GROUP PLC   

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     INTERIM REPORT      30 APRIL 2025    AT 08.30 EEST

SRV Interim Report 1-3/2025: Operative operating profit and order backlog remain stable

January-March 2025 in brief:

• Revenue amounted to EUR 161.4 (167.0) million (-3.3%). Revenue from business and infrastructure construction was down, while housing construction saw slight growth.
• Operative operating profit amounted to EUR 1.1 (1.3) million. Operative operating profit was negatively impacted by the year-on-year decline in volumes, especially in development projects. That said, infrastructure construction achieved a better margin than in the comparison period.
• Operating profit was EUR 0.7 (1.3) million. The result before taxes was EUR -0.5 (0.5) million.
• Equity ratio was 35.0 per cent (33.9% 3/2024) and gearing was 68.9 per cent (80.5% 3/2024). Excluding the impact of IFRS 16, the equity ratio was 49.1 (47.5) per cent and gearing was -4.5 (2.4) per cent.
• At period-end, the order backlog stood at EUR 1,042.6 (1,020.4) million. The sold share of the order backlog was 91.7 (92.5) per cent.
• In addition the order backlog for service periods in lifecycle projects amounted to EUR 106 million.
• New agreements valued at EUR 140.9 (136.4) million were signed in January-March.
• The B2B customer NPS (net promoter score) was 73 (66) at the end of March.
   

Outlook for 2025 (unchanged)

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 630-710 million (revenue in 2024: EUR 745.8 million).
• Operative operating profit is expected to be positive (operative operating profit in 2024: EUR 10.3 million).
   

President & CEO's review

"Our business remained stable during the first quarter. Our revenue was down slightly year-on-year to EUR 161.4 million, and our operative operating profit amounted to EUR 1.1 million. Operative operating profit was negatively impacted by the lower volume than in the comparison period, particularly in business premises development projects sold to investors, while infrastructure construction achieved a better margin year-on-year.


As we had expected in the previous quarter, the market situation remained uncertain in the early months of the year, slowing down the development of our business. Due to low consumer and investor demand, we were not able to start our planned development projects in 2024, which has delayed the development of the company's strategic project portfolio. That said, in the first quarter of this year, we took a step towards our strategic objective of increasing the share of our portfolio accounted for by developer-contracted housing construction when, in February, we launched the construction of our first residential property for sale to consumers after a pause of over two years, Asunto Oy Espoon Niittykummun Neuvokas. We also aim to launch other projects for sale to consumers during this year in the Helsinki metropolitan area, Turku, Tampere and other locations.


Our order backlog remained robust and was EUR 1,042.6 million. In the first quarter, the projects transferred to our order backlog included a new building for child and adolescent psychiatry for Tampere University Hospital, the renovation of the Pasila Government Agency Centre, and the Nissniku House multipurpose building in Kirkkonummi, which is being carried out as a lifecycle project with SRV being responsible for project design, construction and property maintenance for 20 years. The total value of the Nissniku agreement for SRV, taking into account the lifecycle services, is approximately EUR 50 million; the order for construction work was recognised for February. 


In addition, previously won contracts and projects under preliminary contracts that have not as yet been recognised in our order backlog totalled around EUR 582 million at the end of March. These include the Turku Ratapiha project and the next phases of the Helsinki Laakso Joint Hospital.


The company's balance sheet is in good shape, and the number of unsold, completed residential units remained low at the end of March. Our robust financial position is a strength in the uncertain market situation. Thanks to this strength, we can focus on the long-term development of the company and also seize any opportunities that emerge when the economic situation improves.


One of our major successes in the first months of the year was our double win in the "Safely in the 21st Century" occupational safety competition organised by the Confederation of Finnish Construction Industries RT, covering the Uusimaa region; we competed in the large construction company category. The combined result of TR measurements carried out by the Regional State Administrative Agency at SRV's construction sites was the best in the Uusimaa region. Furthermore, in the site-specific series, the Rajamäki campus site in Nurmijärvi was ranked as the best in TR measurements in the Uusimaa region. This double win is a great recognition of our determined and systematic work in the development of occupational safety culture. I'm pleased with how the commitment to occupational safety at our company is evident all the way from management down to every construction site. We put this strong commitment into practice at our sites by anticipating safety risks, proactively making observations, correcting any deficiencies that are found, and, more broadly, engaging in good management and thereby maintaining high controllability.   


At the moment, it is almost impossible to predict the development of the market situation. On the one hand, a number of traditionally strong indicators support an upward trend in housing and investment demand. On the other hand, the geopolitical situation and the threat of a trade war undermine consumer and investor confidence in the market and economic development. We expect that private demand will remain relatively weak in the first half of the year, although some positive developments, such as the strengthening of the sales volumes of old apartments, are already underway. The most positive segment of the market, public sector investment, will remain strong. We expect the positive change in the owner-occupied housing market to start gradually towards the end of the year, as the opportunities brought about by lower interest rates and lower inflation, as well as wage settlements and tax reductions, increase the ability and willingness to buy houses. A similar trend will be seen among housing and business premises investors as economic uncertainty eases."

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

On 10 April 2025, SRV announced that the Helsinki Court of Appeal had sentenced Ari Lehtoranta, the Chair of the Board of SRV Group Plc, to a fine in a criminal case involving Nokian Tyres plc securities trading. Lehtoranta's sentence is not related to the operations of SRV Group Plc and the event occurred before he joined the Board of Directors of SRV Group Plc in 2024.

On 24 April 2025, SRV announced that Miimu Airaksinen, SRV Group Plc's SVP, Development and a member of the Corporate Executive Team, has resigned. She will take on a position outside the company by the end of October 2025 at the latest.

Espoo, 30 April 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 as a webcast on 30 April 2025, starting at 11:00 EEST. The webcast can be followed live at

www.srv.fi/en/investors. The 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     24 APRIL 2025   14:00 EEST

Change in SRV Group Plc's Corporate Executive Team

SRV Group Plc's SVP, Development and a member of Corporate Executive Team Miimu Airaksinen has resigned. She will take on a position outside the company at the end of October, at the latest.

"I thank Miimu Airaksinen warmly for her strong contribution for the company over the past years. Her enthusiastic and energetic manner and profound competence as the pioneer of SRV's lifecycle construction has played a significant role in the company's development. I wish her the best of success in her future role," says SRV's President and CEO Saku Sipola.

For further information, please contact:
Saku Sipola, President & CEO, tel. +358 (0)40 551 5953, saku.sipola@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 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