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Admicomin muutosneuvottelut päätökseen odotetulla lopputuloksella

ADMCMAnalyst Comment13.05.2026 klo 08.33
Atte RiikolaAnalyst
Discuss

Admicom tiedotti aamulla huhtikuussa käynnistettyjen muutosneuvotteluiden päättymisestä. Neuvotteluiden lopputuloksena yhtiö irtisanoo enintään 43 työntekijää, mikä on linjassa neuvotteluiden alkaessa arvioidun enimmäismäärän (45) kanssa. Myös arvioitu 0,5 MEUR:n positiivinen vaikutus kuluvan vuoden oikaistuihin kuluihin pysyi muuttumattomana.

Neuvotteluista aiheutuvat kertaluonteiset kulut tarkentuivat 0,9 MEUR:oon ja ne kirjataan pääasiassa Q2'26:lle. Kertaerän suuruus on hieman aiempaa 0,7 MEUR:n oletustamme korkeampi, mutta kokonaiskuvan kannalta ero on merkityksetön. Tarkennamme ennustettamme kertaerän osalta viimeistään Q2-ennakon yhteydessä.

Kuten yhtiö jo neuvotteluiden alkaessa viesti, toimenpiteiden ensisijaisena tavoitteena ei ole puhtaiden kulusäästöjen hakeminen, vaan osaamisen painopisteen nopeampi siirtäminen strategisesti tärkeille alueille, kuten data- ja tekoälyosaamiseen sekä alustapohjaiseen tuotekehitykseen. Kerrotussa 0,5 MEUR:n kulusäästövaikutuksessa on myös jo huomioitu lisäinvestoinnit ulkoisiin palveluihin siirtymäaikana, kunnes uusia tarvittavia osaajia saadaan rekrytoitua. Pidämme Admicomin aktiivista reagointia muuttuneeseen markkinaympäristöön ja tekoälyn tuomaan murrokseen edelleen perusteltuna ja tervetulleena askeleena yhtiön pitkän aikavälin kilpailukyvyn ja kiihtyvän kasvun tavoitteiden turvaamiseksi.

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Admicom operates in the IT sector. The company develops cloud-based services that mainly concern administration, accounting, payroll and project management. In addition to its main business, it offers training and customer support. Its customers are small and medium-sized corporate customers, with the largest operations in construction and industry. The head office is located in Jyväskylä.

Read more on company page

Key Estimate Figures15.04.

202526e27e
Revenue37.739.642.7
growth-%6.1 %5.0 %7.8 %
EBIT (adj.)12.012.514.2
EBIT-% (adj.)31.7 %31.4 %33.4 %
EPS (adj.)1.932.132.42
Dividend0.320.350.48
Dividend %0.8 %1.3 %1.8 %
P/E (adj.)21.812.611.1
EV/EBITDA16.69.77.2

Forum discussions

By the way, this was actually an interesting discussion on the digitalization of the construction industry, so I recommend it, even though it...
12 hours ago
10
Admicom has once again canceled some of its shares, although the previously distributed stock options will naturally work in the opposite direction...
20 hours ago
by NukkeNukuttaja
15
Here are Atte’s pre-match thoughts as Admicom reports its Q2 results on Wednesday, July 8th In June, the company lowered its growth guidance...
7/1/2026, 7:38 AM
by Sijoittaja-alokas
8
I just came across this podcast where Admicom’s CEO discusses the use of AI in the construction industry. I haven’t listened to the episode ...
6/25/2026, 12:25 PM
by Atte Riikola
32
There have been some good comments here over the past year regarding domestic competitors. There is market skepticism regarding the actual business...
6/23/2026, 7:32 PM
by äspee
7
Good catch! It looks like there’s some glitch in the model regarding those sensitivity calculations; for some reason, they aren’t updating… ...
6/22/2026, 9:48 AM
by Atte Riikola
33
Hi to the Admicom thread and a heads-up for @Atte_Riikola: There’s something odd in the sensitivity analysis of the DCF calculation in the latest...
6/22/2026, 9:35 AM
by Johannes Sippola
28