Fondia (FONDIA) Q2 2025 earnings summary

Executive summary

• Net sales declined 8.1% year-over-year to €12.7 million in H1 2025, reflecting a challenging start to the year.

• Profitability weakened, with adjusted EBITDA and EBIT both decreasing compared to the previous year, impacted by lower sales and non-recurring restructuring costs.

• International business showed modest growth, while Finland experienced a significant sales decline.

• Strategic review completed, new CEO appointed, and updated targets set.

Financial highlights

• H1 2025 net sales were €12.7M, down from €13.8M year-over-year.

• Adjusted EBITDA for H1 2025 was €0.93M (7.3% margin), down from €1.34M (9.7%).

• Adjusted EBIT for H1 2025 was €0.47M (3.7% margin), down from €0.92M (6.6%).

• Profit for the period was -€0.06M, compared to €0.59M prior year.

• Non-recurring expenses of €425k related to organizational restructuring.

Outlook and guidance

• Focus for 2025 is on improving profitability amid ongoing market uncertainty.

• Uncertain economic conditions are expected to continue impacting demand for legal services.

• Medium-term target: combined organic growth % and adjusted EBITDA % to total at least 20% annually.