Fondia (FONDIA) Q1 2025 earnings summary

Executive summary

• Net sales declined 8.7% year-over-year to €6.5M in Q1 2025, with profitability weakening despite growth in Sweden and the Baltics.

• Finnish net sales dropped 13.4% due to restructuring and change negotiations, while Sweden grew 3.4% and the Baltics 5.6%.

• Adjusted EBITDA and EBIT both decreased compared to the same quarter last year.

• Interim CEO appointed and management teams reorganized to support operational changes.

• Company is undergoing a strategic shift, with a focus on improving profitability and ongoing CEO search.

Financial highlights

• Net sales: €6.5M (down from €7.1M), a decrease of 8.7% year-over-year.

• Adjusted EBITDA: €0.4M (down from €0.7M); margin 6.7% (down from 9.9%).

• EBITDA: €0.1M (down from €0.7M); margin 1.9% (down from 9.9%).

• Adjusted EBIT: €0.2M (down from €0.5M); margin 3.4% (down from 7.1%).

• Average personnel (FTE): 153, down 13.3% from 176.

Outlook and guidance

• Focus remains on improving profitability amid ongoing market uncertainty and difficulty in forecasting legal service demand.

• Full impact of recent change negotiations on group revenue remains difficult to estimate.

• Strategy work may lead to updated company strategy and medium-term targets in H1 2025.