Pihlajalinna revises its financial reporting structure and provides comparative segment information for 2025
Pihlajalinna Plc Stock Exchange Release 31 March 2026 at 5:00 p.m. EEST
Pihlajalinna revises its financial reporting structure and provides comparative segment information for 2025
Pihlajalinna revises its financial reporting structure as of 1 January 2026. The changes are based on the new operating model announced on 31 October 2025, which supports the implementation of Pihlajalinna’s strategy, enables growth and responds to the evolving business environment. The new operating model and Management Team took effect on 1 January 2026.
Under the revised reporting structure, Pihlajalinna consists of two reporting segments:
- Healthcare Services
- Outsourcing Services
Separate financial information is also presented for the item Corporate functions and other, in addition to the reporting segments.
Healthcare Services segment consists of medical clinic, diagnostics, hospital, occupational healthcare, remote and responsible doctor services and public health center services. Pihlajalinna provides these comprehensive care‑path services to corporate clients, insurance companies, the public sector and private customers through its nationwide network of medical clinics and digital channels.
Outsourcing Services segment consists of social and healthcare service outsourcings provided primarily to wellbeing services counties, housing services, and employment and recruitment services.
In addition to the reporting segments, Pihlajalinna presents financial information for the Corporate functions and other item, which includes parent company operations, fitness center services and other small-scale operations whose business characteristics and financial profiles differ from those of the reporting segments.
Pihlajalinna publishes its Q1 2026 interim report on Tuesday, 28 April 2026, at approximately 8:00 a.m. EEST, applying the revised reporting structure.
The following tables present unaudited financial information for Pihlajalinna’s reporting segments for the quarters of 2025 and for the full year 2025.
2025 | ||||
EUR million | Healthcare Services | Outsourcing Services | Corporate functions and other | Group total |
Revenue of the segment | 446.7 | 199.2 | 29.0 | |
of which intersegment | -7.9 | -0.1 | -14.6 | |
External revenue | 438.8 | 199.1 | 14.4 | 652.3 |
Adjusted EBITA | 40.4 | 26.7 | -1.8 | 65.3 |
Adjusted EBITA, % of revenue | 9.2 % | 13.4 % | -12.8 % | 10.0 % |
EBIT | 29.0 | 26.7 | -3.0 | 52.7 |
EBIT, % of revenue | 6.6 % | 13.4 % | -20.9 % | 8.1 % |
Employee benefit expenses | -159.8 | -125.0 | -4.8 | -289.6 |
Depreciation and impairment | -39.7 | -9.3 | -7.6 | -56.6 |
Adjusting items affecting comparability | 6.2 | -0.3 | 0.0 | 5.9 |
Q1 2025 | ||||
EUR million | Healthcare Services | Outsourcing Services | Corporate functions and other | Group total |
Revenue of the segment | 118.9 | 60.7 | 7.3 | |
of which intersegment | -2.1 | 0.0 | -3.3 | |
External revenue | 116.8 | 60.7 | 3.9 | 181.4 |
Adjusted EBITA | 13.0 | 6.0 | -0.9 | 18.1 |
Adjusted EBITA, % of revenue | 11.1 % | 9.9 % | -23.7 % | 9.9 % |
EBIT | 11.6 | 5.9 | -1.2 | 16.4 |
EBIT, % of revenue | 9.9 % | 9.8 % | -29.6 % | 9.0 % |
Employee benefit expenses | -41.0 | -38.2 | -1.5 | -80.7 |
Depreciation and impairment | -9.2 | -1.6 | -1.8 | -12.6 |
Adjusting items affecting comparability | 0.0 | 0.0 | 0.0 | 0.0 |
Q2 2025 | ||||
EUR million | Healthcare Services | Outsourcing Services | Corporate functions and other | Group total |
Revenue of the segment | 111.9 | 58.4 | 8.2 | |
of which intersegment | -2.6 | 0.0 | -4.5 | |
External revenue | 109.3 | 58.3 | 3.7 | 171.3 |
Adjusted EBITA | 8.0 | 6.1 | 0.5 | 14.6 |
Adjusted EBITA, % of revenue | 7.3 % | 10.5 % | 13.5 % | 8.5 % |
EBIT | 6.7 | 6.1 | 0.2 | 13.0 |
EBIT, % of revenue | 6.1 % | 10.4 % | 6.5 % | 7.6 % |
Employee benefit expenses | -40.6 | -37.0 | -0.8 | -78.4 |
Depreciation and impairment | -9.1 | -4.8 | -1.9 | -15.8 |
Adjusting items affecting comparability | 0.0 | 0.0 | 0.0 | 0.0 |
Q3 2025 | ||||
EUR million | Healthcare Services | Outsourcing Services | Corporate functions and other | Group total |
Revenue of the segment | 100.9 | 46.3 | 6.9 | |
of which intersegment | -1.8 | 0.0 | -3.5 | |
External revenue | 99.1 | 46.2 | 3.4 | 148.7 |
Adjusted EBITA | 7.5 | 7.6 | -0.7 | 14.4 |
Adjusted EBITA, % of revenue | 7.6 % | 16.4 % | -20.6 % | 9.7 % |
EBIT | 6.1 | 9.7 | -1.0 | 14.8 |
EBIT, % of revenue | 6.2 % | 21.0 % | -29.5 % | 10.0 % |
Employee benefit expenses | -36.0 | -27.2 | -1.2 | -64.4 |
Depreciation and impairment | -9.5 | -2.0 | -1.9 | -13.4 |
Adjusting items affecting comparability | 0.1 | -2.1 | 0.0 | -2.0 |
Q4 2025 | ||||
EUR million | Healthcare Services | Outsourcing Services | Corporate functions and other | Group total |
Revenue of the segment | 115.0 | 33.8 | 6.7 | |
of which intersegment | -1.4 | 0.0 | -3.2 | |
External revenue | 113.5 | 33.8 | 3.5 | 150.9 |
Adjusted EBITA | 11.9 | 7.0 | -0.7 | 18.2 |
Adjusted EBITA, % of revenue | 10.5 % | 20.7 % | -20.5 % | 12.1 % |
EBIT | 4.6 | 5.0 | -1.1 | 8.6 |
EBIT, % of revenue | 4.1 % | 14.9 % | -31.7 % | 5.7 % |
Employee benefit expenses | -42.3 | -22.6 | -1.3 | -66.2 |
Depreciation and impairment | -11.9 | -0.8 | -2.0 | -14.8 |
Adjusting items affecting comparability | 6.0 | 1.9 | 0.0 | 7.9 |
Pihlajalinna Plc
Further information:
Tarja Rantala
Chief Financial Officer
tel. +358 40 774 9290, tarja.rantala@pihlajalinna.fi
Tuula Lehto
Executive Vice President, Communications, Marketing and Sustainability
tel. +358 40 588 5343, tuula.lehto@pihlajalinna.fi
Distribution:
Nasdaq Helsinki Ltd.
Key media
pihlajalinna.fi/en/investors
Pihlajalinna in brief
Pihlajalinna is a healthcare reformer, building effective care pathways and the most attractive corporate culture in the industry. Pihlajalinna is the most committed partner for insurance partners', corporations' and the public sector's success. The Group provides comprehensive, high-quality services through private clinics, hospitals, remote channels, work ability-supporting occupational healthcare as well as social and healthcare solutions for the public sector that deliver overall cost effectiveness. Approximately 4,500 employees and 2,300 practitioners work at Pihlajalinna. In 2025, Pihlajalinna's revenue was 652 million euros. Pihlajalinna's shares are listed on Nasdaq Helsinki Oy. Read more www.pihlajalinna.fi.