Pihlajalinna (PIHLIS) Pre-silent presentation summary

Network expansion and service development

• Opening new full-service medical centres in Helsinki (Oct 2026) and Pori (early 2027) to strengthen service location network.

• Acquiring Boliden Harjavalta's occupational healthcare unit, expanding occupational health services in the Harjavalta industrial park from early 2027.

• Continued rollout of the new occupational healthcare platform, enhancing transparency and real-time information for corporate customers.

• Value-based care initiatives, such as the Kevyt askel service, have reduced median sick leave days among risk group participants.

Market trends and operational focus

• Demand for illness-related healthcare services remains lower than the previous period, while remote services are growing.

• Occupational healthcare customer base is stable, with increased market tendering activity.

• Outsourcing services portfolio includes Pohjois-Pirkanmaa, Mäntänvuoren Terveys, and Selkämeren Terveys, with new outsourcing progressing as planned.

• Public sector demand is low, but procurement dialogues are more active, though slow.

• Ongoing personnel cost management and structural efficiency improvements support competitiveness.

Financial outlook and strategic direction

• Revenue expected to decline by approximately €85 million in 2026 due to expiring outsourcing agreements and divestment of residential care units.

• Estimated 2026 revenue is €550–570 million, down from €652.3 million in 2025.

• Adjusted EBITA margin forecasted at 9–10% of revenue, compared to 10% in 2025.

• Focus on organic growth and profitability improvement, supported by a new operating model aligned with strategic transformation.

• Financial results may be significantly impacted by changes in demand and the general economic environment.