contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


admicom-oyjs-annual-report-for-2025-has-been-published

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

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.

The headline summarizes the case. Once the construction slump eases, Admicom is a good investment. Of course, the stock market is already sniffing out this turnaround a bit.                   Inderes              Admicom on hyvä sijoitus, kun rakennuslama päättyy  - Inderes    Aika: 22.01.2026 klo 14.09 Rakennusfirmoille softaa tekevä Admicom on hyvä sijoitus, kun rakennustaantuma päättyy. Analyytikko Atte Riikola kommentoi.

Almanakka has also written about Admicom following the Q4 results.   Admicom’s results were mixed. Revenue grew by more than 10% despite the weak market conditions, and there was also organic growth. Profitability also improved after a long period of weaker performance. However, after reading further, I found more negatives than positives in the report.                    Sijoitustieto.fi              Admicom Q4/25: Bonusten maksamatta jättäminen parantaa kannattavuutta    Admicom Q4/25 tulos. Almanakka analysoi yhtiön raportin ja sijoittajapuhelun tärkeimmät kohdat.

The largest growth investments were already made during 2023–2024, when additional staff was recruited for practically every area of the organization. For the most part, these were done to enable the next growth leap and internationalization. However, it was also necessary to invest in the organization, systems, and processes, as these investments were likely somewhat neglected during the most aggressive growth phase, when the focus was on sales and implementations. So, the organization was creaking at the seams to some extent, but investors only saw the massive earnings growth figures from the outside  Then, when the weak market slowed growth to single digits while costs increased, the profitability development of recent years has indeed looked unpleasant compared to historical peaks—which, in hindsight, were somewhat unsustainable in the long run. Some costs from the 2024 investments also carried over into 2025, and for example, Q1’25 profitability was even softer (EBITDA 24%). In Q2, the result also weakened compared to the reference period, but in Q3, the situation stabilized, and now in Q4, we saw a clear improvement over the reference period. One investment made in recent years has been the gradual wind-down of external software development at Aitio Finland (acquired at the end of 2021) and the reassignment of developers to internal projects. This reduced last year’s EBITDA margin by about 1 percentage point. That decline in software services is visible as the shrinking of the light blue revenue bar. SaaS revenue has grown quite nicely even in recent years.  And as also noted in the previous message, product development investments have also begun to be moderately capitalized in recent years, as the company has also developed entirely new products for its offering. Due to this and other investments, the trend in free cash flow has been downward, but the direction should turn in the coming years along with revenue growth.  Edit. Here is also an updated analysis report regarding the results:                   Inderes              Admicom Q4'25: Arvostus houkuttaa piristyvän kasvun edessä - Inderes    Admicom päätti viime vuoden odotuksiamme paremmalla tuloksella, ja vuoden 2026 näkymät olivat hyvin linjassa odotustemme kanssa.

Should these investments be visible on the income statement elsewhere than just the personnel line? Other operating expenses (e.g., marketing, staff training, machinery and equipment purchases) were LOWER than in 2024. You’d think there would be an increase specifically in these areas?  According to the cash flow statement, at least actual euros have started to flow into tangible and intangible assets during this latest investment phase. This item was pretty much at zero before the start of the investment phase, so things have indeed been done, but based on this, quite modestly relative to revenue outside of acquisitions.  The company itself states where the growth investments have been focused: “Investments during the Focus for Growth strategy phase, particularly in sales and marketing as well as product development and product management.”. However, I believe that instead of direct marketing expenses recorded in the income statement, those sales and marketing investments mean more reorganization and renewal of operating methods that do not directly flow through the income statement. The relative headcount in that function has actually even decreased slightly. Additionally, investments have been made partly using external resources.  The business is steadily ticking in the right direction, despite the weak market. If profitability returns to growth as promised by the CEO, the P/E 20 (adjusted) for this year predicted by Atte doesn’t seem very steep yet.  PS. In accordance with @Pohjolan_Eka’s wishes, dividends were cut, if not to zero, at least closer to it. Let’s see if those acquisitions start coming

It remains to be seen how growth will develop in the coming years. As a user of the system, I have been wondering how the long recession in the construction industry and the resulting market changes will affect Admicom’s operations. In my opinion, the system is most beneficial if you operate as a direct-employing company (employees directly on the payroll) using Admicom as an ERP (Enterprise Resource Planning) system and an accounting office. For this way of operating, I feel that Admicom is excellent and that competing players do not have as practical a system available. Now that so-called traditional direct-employing companies have gone under or ceased operations, my view is that new companies entering the field are small sole proprietorships, and larger startups do not hire directly but instead operate with leased labor or a light entrepreneurship (kevytyrittäjä) model. For this way of operating, I don’t see as much benefit from Admicom’s solutions because the activities can be managed with lightweight and affordable systems. Many additional services have become available in Admicom in recent years… they certainly have their place, but construction industry profitability will remain under heavy pressure in the coming years, so I don’t believe it’s possible to get very high margins from these add-on products. Furthermore, there are many applications available for documentation, project management, property management, quantity takeoff, etc. (e.g., Dalux, SokoPro, Granlund Manager, Tampuuri). In my opinion, Admicom’s strength has been an easy and functional system as well as reliable and simple pricing; hopefully, that core idea remains in the future.

@Atte_Riikola, can you shed some light on these “investments” by Admicom that are cited as the reason for weakened profitability during the current financial year? The CEO says: “Regarding profitability, we reached our targets, and adjusted EBITDA was 12.3 million euros, or 32.5% of revenue. Growth investments have been reflected in profitability, but as operating costs stabilize following the strategic investment phase, profitability has begun to improve again towards the end of the year.” Should these investments be visible on the income statement anywhere else besides the personnel line? Other operating expenses (e.g., marketing, staff training, machinery and equipment purchases) were SMALLER than in 2024. One would think there would be an increase specifically in these areas? Personnel costs did, of course, rise by about €2.3M as the headcount increased somewhat, but the headcount hasn’t even grown that massively, has it? On Dec 31, 2024, there were 306 employees, and now on Dec 31, 2025, only 310. Granted, the differences in the average headcount during the financial year were somewhat larger (317 vs. 289). Have these additions to personnel gone into sales or where? Personnel costs have risen quite a lot relative to the headcount; I suspect the “ROI” on these is pretty lousy. The increase in the amortization of consolidated goodwill is mainly related to corporate restructuring and is a much smaller item in terms of scale. It would be nice to get some visibility into whether there have actually been any concrete investments made for future growth, or if this weakened profitability is really just a result of something else.

Inderes              ADMICOM OYJ:N TILINPÄÄTÖSTIEDOTE 2025: VAHVA KANNATTAVUUS, MUTTA LOPPUVUODEN...    ADMICOM OYJ YHTIÖTIEDOTE 21.1.2026 KLO 8:00 Järjestämme sijoittajille ja analyytikoille englanninkielisen infotilaisuuden Admicomin Q4:n tuloksesta 21.1.2026 klo 10.00 EET. Voit rekisteröity...                             October-December 2025 (Q4) summary: Annual Recurring Revenue (ARR) 1) grew by 6.0% and was 37.8 million euros (35.7). ARR growth was entirely organic. Recurring revenue 2) grew by 10.1% and was 9.1 million euros (8.3). Of the recurring revenue growth, 0.4 million euros was inorganic due to the acquisition of Bauhub. Revenue grew by 7.7% and was 9.5 million euros (8.8). Adjusted EBITDA 3) was 3.1 million euros (2.5), or 33.2% of revenue (28.4%). No adjustments were made to EBITDA (245 thousand euros in 2024). Adjusted operating profit (EBIT) 3) was 2.0 million euros (1.5), or 20.9% of revenue (17.2%). Earnings per share was 0.29 euros (0.19).                   Inderes              Robokommentti Admicomin Q4-tuloksesta - Inderes    Admicomin Q4-tulos ylitti odotukset selvästi erityisesti kannattavuuden osalta, kun yhtiö keskittyi kustannusten hallintaan ja siirsi suunniteltuja panostuksia myöhemmäksi. Kasvu hidastui odotettua enemmän heikon rakennusmarkkinan ja asiakaspoistuman...

Admicom

Admicom Oyj Company Announcement January 21, 2026 at 8:05 a.m. Admicom Oyj's annual report for 2025 has been published. The annual report is available as an attachment to this release and on...

Admicom Oyj Company Announcement January 21, 2026 at 8:05 a.m.&nbsp;Admicom Oyj's annual report for 2025 has been published. The annual report is available as an attachment to this release and on the company's investor pages.The annual report includes an overview of Admicom for 2025, the Board of Directors' report, financial statements and Auditor's report. The annual report is available in Finnish and English.<div>Admicom Oyj&nbsp;Additional information:Satu Helamo CFO <a href="mailto:satu.helamo@admicom.com">satu.helamo@admicom.com</a> +358 45 633 7710Approved advisor:Oaklins Finland Ltd +358 9 612 9670Admicom OyjFounded in 2004, Admicom is a pioneer in digitalisation of the construction industry. We utilise our expertise by developing software solutions covering the entire construction value chain as well as services supporting our customers' operations. Our understanding of the operating methods and digitalisation needs of the construction industry is strong, and our goal is to significantly enhance the productivity and quality of operations in the construction industry through our software.Our ERP solution offers the construction industry the only comprehensive solution in Finland that serves the management of companies' operations, finances and projects through one seamless solution. Our project management product suite provides industry-leading solutions for managing the entire lifecycle of a building.Our company has around 300 employees in Finland, in Jyväskylä, Helsinki, Tampere, Oulu, Seinäjoki and Turku, as well as in our office in Tartu, Estonia. More information:&nbsp;<a href="http://www.admicom.com/">www.admicom.com</a>.Admicom's press releases and financial reports:&nbsp;<a href="https://investors.admicom.fi/releases-and-reports/">https://investors.admicom.fi/releases-and-reports/</a>Images and logos for publications are available in&nbsp;<a href="https://www.admicom.com/media-bank">Admicom’s media bank</a>.</div><div>&nbsp;</div> <div> <hr> <div>Attachments</div> <div><a href="https://storage.googleapis.com/inderes-widgets-prod-assets/admicom/attachments/448470e9-62b5-471b-a3c9-211e85e32e79/admicom-annual-report-2025.pdf">Admicom - Annual report 2025.pdf</a></div> </div>