Netum Group Plc’s transition to IFRS reporting and unaudited comparative IFRS information
Netum Group Plc | Company announcement | 25 February 2026 at 2:00 PM EET
Netum Group Plc’s transition to IFRS reporting and unaudited comparative IFRS information
Netum Group Plc (hereinafter also referred to as “Netum” or “the Group”) will transition from reporting in accordance with the Finnish Accounting Standards (FAS) to reporting in accordance with the International Financial Reporting Standards (IFRS). The company expects the transition to IFRS reporting to increase the comparability of its financial figures with other companies in the industry and increase international investors' interest in the company.
Netum will prepare its consolidated financial statements and financial statements release for the financial year ending on 31 December 2025 in accordance with IFRS standards, including IFRS-compliant comparative information for the financial year 2024. The date of transition to IFRS reporting is 1 January 2024. Netum will publish its financial statements release on 10 March 2026.
The purpose of this IFRS transition release is to provide the market with advance information on the key effects of the transition to IFRS reporting. The release includes key figures prepared in accordance with IFRS standards and the following financial information in IFRS format: consolidated balance sheets for 1 January 2024, 30 June 2024, 31 December 2024 and 30 June 2025, and consolidated statements of comprehensive income for the periods 1 January–30 June 2024, 1 January–31 December 2024 and 1 January–30 June 2025. The financial information presented in this release is unaudited, with the exception of the following information prepared in accordance with the Finnish Accounting Standards (FAS): the consolidated income statement for the financial year 1 January–31 December 2024 and the consolidated balance sheets for 31 December 2023 and 31 December 2024. The balances shown on the opening balance sheet of 1 January 2024 are based on the audited consolidated balance sheet dated 31 December 2023, and the transfer of these balances has been verified.
The adoption of IFRS accounting standards has been carried out in accordance with IFRS 1 First-time Adoption of International Financial Reporting Standards. In connection with the adoption of IFRS, the Group has prepared an opening IFRS balance sheet and adjusted the information for the comparative period to correspond to IFRS requirements. The Group has applied exemptions and exceptions allowed by IFRS 1, as described in detail in the document attached to this release.
The key effects of the transition to IFRS on the financial information reported by Netum are due to provisions concerning leases (IFRS 16), business combinations and goodwill adjustments (IFRS 3), share-based payments (IFRS 2), the treatment of the impairment of trade receivables and contract assets (IFRS 9), deferred taxes, the reclassification of liabilities (IFRS 9 and IAS 1) and other reclassifications. The IFRS adjustments made in connection with the transition and the key effects of the adoption of IFRS standards are described in more detail in the document attached to this release.
Key figures, IFRS
| EUR thousand, unless otherwise specified | 1–6/2025 | 1–6/2024 | 2024 |
| Revenue | 21,401 | 22,775 | 43,953 |
| Revenue growth, % | -6.0% | 33.1% | 18.6% |
| Organic growth, % | -6.0% | 6.0% | 2.8% |
| EBITDA | 1,900 | 2,608 | 4,792 |
| EBITDA, % of revenue | 8.9% | 11.5% | 10.9% |
| EBITA | 1,572 | 2,276 | 4,075 |
| EBITA, % of revenue | 7.3% | 10.0% | 9.3% |
| Comparable EBITA 1) | 1,661 | 2,255 | 4,159 |
| Comparable EBITA, % of revenue | 7.8% | 9.9% | 9.5% |
| Operating profit (loss) | 1,572 | 2,276 | 4,075 |
| Operating profit (loss), % of revenue | 7.3% | 10.0% | 9.3% |
| Result for the period | 988 | 1,371 | 2,410 |
| Result for the period, % of revenue | 4.6% | 6.0% | 5.5% |
| Earnings per share (EPS), basic, EUR | 0.08 | 0.11 | 0.19 |
| Earnings per share (EPS), diluted, EUR | 0.08 | 0.11 | 0.19 |
| Return on equity, % | 6.4% | 10.2% | 17.2% |
| Equity ratio, % | 48.1% | 41.2% | 46.0% |
| Number of employees at the end of the period | 386 | 407 | 394 |
| Overall capacity, own personnel (FTE) at the end of the period | 378 | N/A 2) | 379 |
1) Items affecting comparability are presented in the table Comparable EBITA.
2) Overall capacity, own personnel (FTE) was reported for the first time in connection with the Financial Statements Release 2024. The value for the comparison period is not available.
The company reports the following alternative performance measures: EBITDA, EBITA and comparable EBITA.
Information on the calculation of the key figures and the reconciliation calculations are provided in the document attached to this release.
For further information, please contact:
Netum Group Plc
Repe Harmanen, CEO
+358 400 467 717
repe.harmanen@netum.fi
Certified Adviser:
Evli Plc
+358 40 579 6210
Netum Group Plc
Netum is an IT service partner that builds a functional and secure digital society. We help our customers develop their digital business by designing and implementing sustainable digital solutions tailored to their needs – wisely and responsibly. Netum employs approximately 350 people, and the Group's revenue in 2024 was EUR 44 million. Netum Group Plc’s shares are listed on Nasdaq Helsinki First North (NETUM). www.netum.fi