Pihlajalinna Plc              Inside Information             21 October 2026 at 9:40 a.m. EEST

Inside information, profit warning: Pihlajalinna lowers its guidance for 2026 and provides preliminary information on revenue and profitability for the third quarter of 2026

Pihlajalinna’s operating environment remained challenging in the third quarter of 2026. In addition to the expected impact of changes to outsourcing agreements, the revenue was negatively affected by low morbidity and lower use of services, although the number of individual customers in occupational healthcare increased. Despite the company’s determined measures, the decline in revenue has also had an impact on profitability. Pihlajalinna expects its revenue to be approximately EUR 540 million and its adjusted EBITA to be approximately 8 per cent of revenue in 2026.

New outlook for 2026

Pihlajalinna’s revenue is expected to decline by approximately EUR 86 million in 2026 due to the expiry of outsourcing agreements and the divestment of residential care units. Pihlajalinna will continue to focus on strengthening growth and profitability. The new operating model which entered into effect at the beginning of the year will ensure that development and growth align with our strategy and respond to the transformation of our business.

• The Group estimates revenue to be approximately EUR 540 million (EUR 652.3 million in 2025).
• The Group estimates the adjusted operating profit before the amortisation and impairment of intangible assets (EBITA) to be approximately 8 per cent of revenue (10.0 per cent of revenue in 2025).

Development in demand and general economic environment may have a more significant impact on Pihlajalinna’s financial result than currently expected.

Previous guidance (issued on 22 July 2026)

Pihlajalinna’s revenue is expected to decline by approximately EUR 85 million in 2026 due to the expiry of outsourcing agreements and the divestment of residential care units. Pihlajalinna will focus on organic growth and further improvement in profitability. The new operating model which entered into effect at the beginning of the year will ensure that development and growth align with our strategy and respond to the transformation of our business.

• The Group estimates revenue to be approximately EUR 550-570 million (EUR 652.3 million in 2025).
• The Group estimates the adjusted operating profit before the amortisation and impairment of intangible assets (EBITA) to be 9-10 per cent of revenue (10.0 per cent of revenue in 2025).

Development in demand and general economic environment may have a more significant impact on Pihlajalinna’s financial result than currently expected.

Preliminary information on revenue and profitability for the third quarter of 2026

Based on preliminary unaudited information, third quarter revenue was in 2026 EUR 121.5 million (148.7) and adjusted EBITA was EUR 8.6 million (14.4).

Pihlajalinna will publish its Interim Report January–September 2026 on Wednesday, 28 October 2026.

Pihlajalinna Plc

Further information: 

Tuula Lehto, EVP, 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.