Administer (ADMIN) investor relations material

Executive summary

• Net sales for January–March 2026 were EUR 17.8 million, down 6.3% year-over-year due to a challenging market environment.

• EBITDA declined to EUR 1.2 million from EUR 2.0 million, with profitability impacted by market conditions and goodwill amortisation.

• The Sarastia acquisitions were finalised, making the group the largest payroll services provider in Finland and strengthening its public sector leadership.

• Integration of Sarastia and profitability improvement measures are underway, with full effects expected in the second half of 2026.

Financial highlights

• Net sales decreased to EUR 17.8 million from EUR 19.0 million year-over-year.

• EBITDA margin fell to 6.8% from 10.7% year-over-year.

• Operating profit was EUR -0.4 million, weighed down by EUR -1.0 million in goodwill amortisation.

• Earnings per share (EPS) was EUR -0.06, compared to EUR 0.02 in the prior year.

• Average personnel decreased by 9.8% to 940.

Outlook and guidance

• Net sales for 2026 are estimated at EUR 105–115 million, with EBITDA projected at EUR 6.5–9.0 million.

• Management anticipates a record-breaking year in both net sales and EBITDA in euros, despite a challenging start.