Analyst Comment

Solwers appointed a new CEO

Translation: Original published in Finnish on 8/4/2025 at 7:42 am EEST.

The change is due to the retirement of the current CEO, which Solwers announced earlier this spring. In our opinion, the new CEO's background provides a solid foundation for success in his new role.

New CEO to start by next summer

Solwers announced on Friday that its board of directors has appointed Johan Ehrnrooth as the company's CEO, and he will start in the role on June 3, 2026, at the latest. Ehrnrooth has, since 2021, been the Vice President of the Smart Factory business unit at Etteplan, as well as the German Country Manager of Etteplan. Prior to this, he gained experience at Afry Finland and Pöyry throughout this millennium.

Ehrnrooth has extensive international experience in the consulting industry, which we believe will equip him well for the role of CEO at Solwers. A smooth transition will also be supported by current CEO Stefan Nyström continuing in his role until the transition to his successor is complete.

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Solwers is a consulting company focused on the industrial sector. The company specializes in digital solutions that involve planning and project management services. Examples of the company's services include architecture, technical consulting, environmental monitoring, project management, circular economy and digital solutions. Customers are found in several industries, mainly among small and medium-sized business customers. Operations are found throughout the global market, with the largest presence in the Nordic region.

Key Estimate Figures29.05.

	2024	25e	26e
Revenue	78.3	81.5	84.4
growth-%	18.6 %	4.2 %	3.5 %
EBIT (adj.)	2.7	2.8	4.1
EBIT-% (adj.)	3.5 %	3.4 %	4.8 %
EPS (adj.)	0.11	0.13	0.23
Dividend	0.02	0.04	0.05
Dividend %	0.8 %	1.9 %	2.1 %
P/E (adj.)	28.2	16.5	9.1
EV/EBITDA	8.9	7.0	5.6