LapWall (LAPWALL) investor relations material

Executive summary

• Revenue increased by 3.6% year-over-year to €44.9 million in 2025, with the Pyhäntä unit driving growth despite a weak construction market and strengthened competitiveness.

• EBITA declined 25.9% to €3.8 million (8.4% margin), and EBIT fell 31.4% to €2.9 million, reflecting margin pressure and lower profitability.

• Earnings per share decreased to €0.14 from €0.24 year-over-year; net profit was €2.0 million, down from €3.5 million.

• Workforce grew to 127 employees at year-end, up from 113.

• Major investment in a new factory at Pyhäntä aims to triple unit revenue and support a €100 million revenue target by 2030.

Financial highlights

• Q4 2025 revenue was €13.4 million, up 27.4% from Q4 2024; H2 2025 revenue grew 17.6% to €26.1 million.

• Full-year EBITDA was €4.9 million (10.8% margin), down from €6.4 million (14.7%) in 2024.

• EBITA for the year was €3.8 million (8.4% margin), down from €5.1 million (11.7%).

• Order backlog at year-end was €14.1 million, up 14.3% from the previous year, fluctuating between €12.3 million and €23.0 million during 2024–2025.

• Proposed dividend of €0.10 per share; updated payout target to 50–75% of annual profit.

Outlook and guidance

• Strong order book and stabilized interest rates support construction market recovery, with growth in commercial, industrial, and public construction underway but cautious; residential recovery is slower.

• Several major projects in planning, especially in data center and defense sectors.

• Strategic focus on cost efficiency, product development, and sales to enable profitable growth.

• 2026 financial guidance to be provided with Q1 2026 business review in April.

• Targeting €100 million revenue and 15–20% EBITA margin by 2030.