Savox Communications (SAVOX) Status update summary

IPO overview and objectives

• Plans for an IPO and listing on Nasdaq Helsinki include a primary share issue of approximately €30 million and a secondary sale by the largest shareholder to support long-term strategy and financial flexibility.

• IPO proceeds will support growth strategy, balance sheet strengthening, working capital, R&D, and general needs.

• Anchor/cornerstone investors have committed to subscribe for about €26 million, assuming a pre-money valuation cap of €160 million.

• Listing aims to broaden ownership, increase share liquidity, and enhance competitiveness and recognition.

• Principal shareholder will remain a committed long-term owner post-IPO.

Business performance and financials

• Revenue grew at a 15% CAGR from 2021 to 2025, reaching €56.1 million in 2025, with defense sector share rising from 13% to 51%.

• Order backlog including options was about €61 million as of March 31, 2026, with €35 million confirmed orders.

• Gross margin improved from 40% in 2024 to 45% in 2025; adjusted EBIT margin was 14% in 2025.

• 2026 guidance: revenue €65–75 million, EBIT margin 14–18%.

• Key financial ratios show improving profitability and balance sheet metrics.

Market environment and growth drivers

• Core markets are defense, security & safety, and industrial communications, with defense as the fastest-growing segment.

• Defense market in Nordics expected to grow at 17% CAGR (2025–2030), driven by increased spending and NATO requirements.

• Security & safety market estimated at €710 million in 2025; overall critical communications market is significant and growing.