Ilkka (ILKKA2) Q2 2025 earnings summary

Executive summary

• Revenue grew 23% year-over-year in Q2 2025 to €9.7 million, driven by technology services and the Profinder acquisition.

• Adjusted operating profit from continuing operations improved to €0.5 million from a €0.5 million loss in Q2 2024.

• Major strategic shift: media business merged with Kaleva, with Ilkka now holding a 35% stake in Kaleva365 Oy.

• Digital business now accounts for over 95% of revenue; focus is on scalable SaaS, technology, and data services.

• Strong financial position with an equity ratio of 89.1% and negative net gearing.

Financial highlights

• Q2 2025 revenue: €9.7m (Q2 2024: €7.9m); H1 2025 revenue: €19.1m (H1 2024: €15.7m).

• Q2 adjusted operating profit: €0.5m (Q2 2024: -€0.5m); H1 adjusted operating profit: €0.27m (H1 2024: -€0.7m).

• Q2 net profit from continuing operations: €4.5m (Q2 2024: €3.7m); H1 net profit: €3.2m (H1 2024: €4.2m).

• EPS from continuing operations: Q2 €0.18 (Q2 2024: €0.14); H1 €0.13 (H1 2024: €0.16).

• Discontinued operations (media): Q2 profit €7.4m, including €7.0m gain from sale; H1 profit €7.8m.

Outlook and guidance

• Revenue and adjusted operating profit from continuing operations expected to rise year-over-year in 2025.

• Results will be significantly affected by the performance of Kaleva365 Oy (35% owned) and Alma Media dividend income.