Fondia Plc: Business Review July–September 2026 – Growth continued and profitability improved
Fondia Plc
Company release
2026-10-22 at 8.30 a.m. EEST
The company complies with the Securities Markets Act half-yearly reporting and publishes business reviews for the first three and nine months of the year, presenting key information on the company's financial performance. The financial information presented in this Business Review is unaudited.
Figures in parentheses refer to the corresponding period of the previous year, unless otherwise stated. Fondia Plc and its group companies are hereinafter referred to as "Fondia" or the "company".
Financial development in July–September and in January–September 2026
| Fondia Plc Group | 7–9/2026 | 7–9/2025 | 1–9/2026 | 1–9/2025 |
| Net sales, MEUR | 5.3 | 4.9 | 18.1 | 17.6 |
| Change in net sales % | 8.1% | –7.0% | 2.6% | –7.8% |
| EBITDA, MEUR | 0.5 | 0.3 | 1.8 | 0.8 |
| EBITDA % | 8.7% | 6.6% | 9.7% | 4.7% |
| Adjusted EBITDA, MEUR* | 0.5 | 0.3 | 1.8 | 1.3 |
| Adjusted EBITDA %* | 8.9% | 6.6% | 9.8% | 7.1% |
| Operating profit EBIT, MEUR | 0.2 | 0.1 | 1.1 | 0.1 |
| Operating profit EBIT % | 4.2% | 1.4% | 5.9% | 0.7% |
| Adjusted operating profit EBIT, MEUR* | 0.2 | 0.1 | 1.1 | 0.5 |
| Adjusted operating profit EBIT %* | 4.5% | 1.4% | 6.0% | 3.1% |
| Number of employees FTE, period average | 143 | 137 | 140 | 144 |
| Number of employees FTE, change in period average % | 3.7% | –13.3% | –2.8% | –11.7% |
*Items affecting comparability of EUR 11 thousand were recorded in July–September 2026. No non-recurring expenses were recorded in the comparison period.
*Items affecting comparability of EUR 17 thousand were recorded in January–September 2026. The non-recurring expenses for the reporting period relate to changes in the Group’s personnel and premises. In the comparison period, non-recurring expenses of EUR 425 thousand were recorded relating to the organizational restructuring in Finland.
Outlook for 2026 (unchanged)
Fondia expects in the 2026 financial year the Group’s net sales to grow and the adjusted EBITDA margin to improve compared to the previous year.
CEO Timo Lappi:
”The third quarter of the year continued, as expected, the improved operational and financial momentum from the beginning of the year. In the reporting period of July–September, our net sales increased, and profitability developed favourably compared to the comparison period. The summer holiday season naturally added its own flavour to the reporting period, but we did not compromise on our Legal Department as a Service's (LDaaS) proactive service promise to our customers even during the holiday season. Our broad and skilled lawyers enable us to meet the demands of our ongoing services and other customer needs even across holiday seasons.
The results of the customer and employee satisfaction surveys carried out during the reporting period were mixed. The customer satisfaction survey's strong NPS result of 82 (68) shows that we are doing the right things: our experienced lawyers deliver high-quality customer work, and our service concept is highly appreciated by our customers. We are proud and pleased with our NPS result, which also gave us confirmation and further insight for developing our services and operations.
The employee satisfaction survey's eNPS result declined slightly to 14 (17). Although strengthening the employee experience and employee engagement is one of our key strategic initiatives, the measures taken have not yet been reflected in the eNPS result. However, the survey results indicate that our efforts to improve employee satisfaction are heading in the right direction. Our goal remains to continue investing in employees' professional development, high-quality leadership, and a human-centric, sustainable working environment. We want to both attract and continuously train, in a competitive talent market, lawyers who have the ability to combine legal and business thinking and to effectively utilize technology and AI as part of their daily work.
In terms of performance, we are on the right track, although we are not yet satisfied with our profitability. We will continue to reform our operations and aim for growth to safeguard our profitability development. At the heart of what we do are our customers and our employees, as well as advancing our strategic initiatives. The work to improve growth and profitability continues."
July–September 2026
The Group’s net sales increased by 8.1% in July–September compared to the comparison period. Net sales in Finland increased by 5.2% during the reporting period compared to the comparison period. In Sweden, our net sales increased excellently by 20.6%, and growth in the Baltics continued and was 8.2% compared to the comparison period. The Group's adjusted EBITDA margin for July–September was 8.9% (6.6), and the adjusted EBIT margin was 4.5% (1.4).
January–September 2026
The Group’s net sales increased by 2.6% in January–September compared to the comparison period. Finland's net sales increased by 2.8% during the reporting period compared to the comparison period. In Sweden, our net sales decreased by 0.9%, and growth in the Baltics was 17.4% compared to the comparison period. The Group's adjusted EBITDA margin for January–September was 9.8% (7.1), and the adjusted EBIT margin was 6.0% (3.1).
The method of reporting percentage changes in net sales for the business areas has been amended. Group eliminations are now allocated to the business areas, whereas in previous business reviews they were dealt with solely at Group level.
Investor communications
Fondia will publish the Business Review for July–September 2026 on Thursday 22 October 2026 at 8.30 a.m. EEST. The company release on the Business Review will available after publication on the company’s website https://investors.fondia.com/fi/en/releases-and-publications/reports-and-presentations.
Fondia will present a business review on the same day at 10.00 a.m. EEST. The event will be held in Finnish and can be attended online by registering at https://events.inderes.com/fi/fondia/2026-q3-katsaus.
The recording of the event and the presentation material will be available later on the same day on the company’s website https://investors.fondia.com/fi/en/releases-and-publications/reports-and-presentations.
For further information, please contact:
Timo Lappi, CEO, tel. +358 40 756 7809
Harri Savolainen, CFO, tel. +358 40 502 1919
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Fondia in brief
Fondia solves the legal needs of companies by combining the best services from internal legal departments and law firms. Fondia operates in Finland, Sweden, Estonia, and Lithuania. Fondia employs around 160 people. The Group’s net sales in 2025 were EUR 23.9 million.
Distribution:
Nasdaq Helsinki Ltd
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