Interim report
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SIILI . Siili Solutions Plc Half - year report , 1 January - 30 June 2026 ( unaudited )
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SIILI H1 2026 Revenue and profitability decreased from the comparison period - actions to strengthen sales and profitability continue Siili's first half of 2026 included both successes and challenges. In response to the weakened revenue and profitability in the first quarter, we launched efficiency measures across the whole Siili Group and continued to accelerate sales. In the beginning of August we lowered our financial guidance for 2026. January-June 2026 – We continued to accelerate sales and launched efficiency measures to improve profitability and sales – We strengthened our competitiveness and strategy implementation by broadening our partner ecosystem – Revenue for the first half of the year was EUR 50,060 (57,543) thousand, representing decline of 13.0% year on year – Adjusted EBITA for the first half of the year was EUR -363 (2,562) thousand, which corresponds to -0.7% (4.5%) of revenue April-June 2026 – In the beginning of May we announced the change of Siili's CEO. The process to select a new CEO is underway – Demand for and the scale of projects related to AI modernisation and transformation increased in the second quarter – Revenue for the second quarter amounted to EUR 24,376 (27,627) thousand, representing decline of 11.8% year on year – Adjusted EBITA was EUR -176 (1,294) thousand, which corresponds to -0.7% (4.7%) of revenue 1–6/2026 1–6/2025 1–12/2025 4–6/2026 4–6/2025 Revenue, EUR 1,000 50,060 57,543 108,076 24,376 27,627 Revenue growth, % -13.0% -2.8% -3.4% -11.8% -5.9% Organic revenue growth, % -13.0% -4.8% -5.3% -11.8% -8.0% Share of international revenue, % 26.6% 26.1% 27.8% 27.6% 25.1% Adjusted EBITA, EUR 1,000 -363 2,562 4,107 -176 1,294 Adjusted EBITA, % of revenue -0.7% 4.5% 3.8% -0.7% 4.7% EBITA, EUR 1,000 -1,113 1,636 1,433 -783 428 EBIT, EUR 1,000 -1,780 971 111 -1,119 50 Earnings per share, EUR -0.30 0.09 0.12 -0.19 0.05 Number of employees at the end of the period 823 900 863 823 900 Average number of employees during the period 835 921 903 827 929 Number of full-time employees (FTE) at the end of the period 780 882 794 780 882 Number of full-time subcontractors (FTE) at the end of the period 106 132 115 106 132 2 / / / / / // CEO’S REVIEW INFORMATION FROM THE REVIEW PERIOD FINANCIAL STATEMENT NOTESOUTLOOK AND FINANCIAL TARGETS Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) SIILI H1 2026 IN BRIEF
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Outlook for 2026 and financial goals for 2026‑2028 Revenue for 2026 is expected to be EUR 95‑105 million and adjusted EBITA EUR 0.5‑3.3 million. (Updated on 6 August 2026) On 26 November 2024, the company announced the financial goals for the years 2026–2028 as follows: – Annual revenue growth of 20 percent, of which organic growth accounts for about half. – Adjusted EBITA 12 percent of revenue. – The aim is to keep the ratio of net debt-to- EBITDA below two. – The aim is to pay a dividend corresponding to 30–70 percent of net profit annually. Interim CEO Markku Savusalo: Siili’s first half of 2026 included both successes and challenges. We cannot be satisfied with the development of revenue and profitability during the beginning of the year. In response to this development, we launched efficiency measures across the whole Siili Group during spring and continued to accelerate sales. During the beginning of the year we strengthened our sales organization and offering, which resulted in positive development in sales during the end of second quarter. This creates us a stronger foundation for the second half of the year. The efficiency measures have also started as planned, and the temporary layoffs made in June, for example, will continue as needed also during the remainder of the year. However, the full effects of these measures will only be visible during the second half of the year. Revenue for the first half of the year was EUR 50.1 million, representing a decline of 13.0% year-on-year. Adjusted EBITA for January–June was EUR -0.4 million, or -0.7% of revenue. STRATEGY IMPLEMENTATION PROCEEDS Demand for and the scale of projects related to AI modernisation and transformation increased in the second quarter. Our determined efforts to develop our consultants’ data and AI expertise have delivered results in both AI transformation projects and on the traditional software development side. We have for example expanded our cooperation with Pihlajalinna in the field of AI to cover the rapid development of AI solutions as part of business support. In late spring, Siili was selected to implement the significant and large AI transformation of a major Finnish industrial company. In the summer, Siili was for example selected as a supplier in two different categories in joint tender by the Ministry of Agriculture and Forestry, the National Land Survey of Finland, the Finnish Food Authority and the Natural Resources Institute Finland. The contract period lasts until 2030. This agreement strengthens our position as a reliable and long-term partner for public administration and socially significant organizations. The second quarter was also successful for Siili’s subsidiaries. As one example, our subsidiary VALA Group has been providing quality assurance and test automation services in a business-critical and long-term project for Fennia. Internationalization in line with our strategy is also progressing, and we gained important new openings in international client relationships during the first half of the year. The strengthening of our offering to better meet the current market demand has progressed through concrete steps, which has supported sales. The Managed AI service that we launched at the beginning of the year has got off to a successful start. In addition, we have developed an AI-based modernisation model for reforming legacy IT systems. With this model, current-state analyses of systems can be accelerated by up to 60%, responding to the challenges many of our clients face in modernisation projects. In the spring, we also opened a series of open, technology-neutral development accelerators that cover the entire software development lifecycle from requirements specification to production operations. OUR PARTNER ECOSYSTEM STRENGTHENED DURING THE BEGINNING OF THE YEAR Siili’s technology partner ecosystem developed further during the first half of 2026. In May, Siili became an official Google Cloud reseller partner, and the company now holds recognised partner status with all three global hyperscale cloud service providers: Microsoft Solutions Partner (Data & AI and Digital & App Innovation), AWS Advanced Tier Services Partner, and Google Cloud reseller partner. These partnerships deliver direct added value to our clients through co-funded projects, more affordable proof-of-concept projects, and the partners’ investment programmes and reference architectures. At the same time, they directly strengthen Siili’s competitiveness and support the implementation of the company’s AI strategy. During the spring, Siili also expanded its sovereignty offering through new partnerships with UpCloud and ConfidentialMind. These complement the existing collaboration with Verda and the LLM Gateway solution maintained in Finland. This overall offering positions Siili as a comprehensive partner for organisations that require solutions related to data location and European cloud sovereignty. SELECTION OF THE NEW CEO IS UNDERWAY At the beginning of May, we announced that Siili’s Chief Executive Officer will change. The process to select a new CEO is underway. In recent months, as interim Chief Executive Officer of Siili, I have had the privilege of working even more closely with Siili’s experts as well as with clients and partners. I would like to thank everyone for this good cooperation, and our personnel in particular for their dedicated and determined work to create client value and strengthen sales. There is still a great deal of work to be done, but we continue our work to improve revenue and profitability during the rest of the year. 3 / / / / / //SIILI H1 2026 IN BRIEF INFORMATION FROM THE REVIEW PERIOD FINANCIAL STATEMENT NOTES Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) OUTLOOK AND FINANCIAL TARGETS CEO’S REVIEW
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Revenue Revenue for the first half-yearly period decreased by 13.0% year-on-year (-2.8%) to EUR 50,060 (57,543) thousand. Organic revenue change was -13.0% (-4.8%). The share of international operations of the revenue for the reporting period was 26.6% (26.1%). Revenue declined due to customers' budget cuts and delayed investment decisions, reductions in individual client relationships, and general uncertainty in the global market. Profitability EBITA for the reporting period totalled EUR -1,113 (1,636) thousand, representing a decline of EUR 2,749 year-on-year. The Group’s profitability weakened during the first year-half, and EBITA amounted to -2.2% (2.8%) of revenue. Weakened profitability was driven by lower- than-expected revenue in the first half of the year. Subcontracting costs arising from the use of external services in the review period totalled EUR 9,971 (12,063) thousand, or 19.9% (21.0%) of revenue. Employee benefit expenses for the financial period decreased to EUR 34,007 (35,995) thousand, amounting to 67.9% (62.6%) of revenue. The decrease in employee benefit expenses was driven by a reduction in the number of employees, while non-recurring employment termination costs partially offset this decline. During the reporting period, the Group's number of employees was 835 (921) on average and 823 (900) at the end of the period. Other operating expenses decreased from the previous year to EUR 5,994 (6,353) thousand, or 12.0% (11.0%) of revenue. Adjusted EBITA for the first year-half was EUR -363 (2,562) thousand, or -0.7% (4.5%) of revenue. The adjustment items amounted to EUR 750 (926) thousand, consisting of non-recurring employee benefit expenses related to employment termination benefits. The calculation of adjusted EBITA is available on the company website at / https://sijoittajille.siili.com/en. The Group’s operating result (EBIT) for the reporting period was EUR -1,780 (971) thousand, or -3.6% (1.7%) of revenue. Net financial expenses for the year-half totalled EUR 800 (400) thousand. The result for the period before taxes was EUR -2,580 (571) thousand, and earnings per share were EUR -0.30 (0.09). Financing and capital expenditure The Group’s statement of financial position totalled EUR 74,298 (81,525) thousand at the end of the first year- half. The Group’s equity ratio was 51.6% (49.9%), return on investment (ROI) was -2.1% (5.3%) 1, and the ratio of net debt to EBITDA was 2.79 (0.45). The cash flow from operations was EUR 1,438 (1,477) thousand, representing a decrease of 2.6% year on year. The decline in the cash flow from operating activities was driven mainly by the decrease in net result. Cash flow from investing activities for the reporting period was EUR -4,743 (-5,321) thousand, including the considerations totalling EUR 4,262 thousand paid to the minority interests for the acquisition of additional stakes in Supercharge Zrt and Integrations Group Oy. Cash flow from financing activities in the review period amounted to EUR 771 (-608) thousand, including a dividend of EUR 568 thousand paid to the shareholders of Siili Solutions Plc, a dividend of EUR 446 thousand paid to non-controlling shareholders of Supercharge Zrt, Integrations Group Oy and Vala Group Oy, loan withdrawals for Supercharge Zrt and Integrations Group Oy minority acquisitions amounting to EUR 3,988 thousand, and repayments of bank loans amounting to EUR 1,048 thousand. At the end of the review period, the Group’s cash and cash equivalents totalled EUR 10,310 (15,884) thousand, and the Group had EUR 2,500 thousand in unused credit facilities. At the end of the review period, the Group’s interest-bearing bank loans stood at EUR 10,593 (9,268) thousand, of which EUR 2,756 thousand consisted of short-term loans. Acquisitions and changes in group structure During the reporting period, Siili Solutions Plc increased its ownership in its subsidiary Supercharge Zrt. In May, the company carried out share acquisitions whereby its ownership in Supercharge Zrt rose to 100% from 85%. The consideration for the shares in Supercharge Zrt was approximately EUR 3.3 million. In addition, Siili increased its ownership in its subsidiary Integrations Group Oy. In May, the company carried out share acquisitions whereby its ownership in Integrations Group Oy rose to 70% from 55%. The consideration for the shares in Integrations Group Oy was approximately EUR 1.0 million. The parties have the right to carry out the transaction for the remaining 30% of the shares of Integrations Group Oy in 2027. Both purchase prices were paid in full in cash. The acquisitions were financed with a new bank loan of EUR 4.0 million, which was drawn in connection with the transactions. Employees, management and governance The number of employees at the end of the review period was 823 (900), which marks a decrease of 77 (66) people, or -8.6% (-6.8%), from the end of the previous year. The average number of employees during the period was 835 (921). At the end of the review period, Siili’s Management Team consisted of the following members: Markku Savusalo (Interim CEO, Head of Digital Engineering business area), Tuomas Toropainen (CFO), Taru Salo (CPO), Marton Heves (CEO, Supercharge), Maria Niiniharju (Head of AI Strategy & Transformation business area) and Jaakko Aatola (Director, Strategy and Partnerships). Significant events during the reporting period SIILI ANNOUNCED THE CHANGE OF CEO In May Siili announced that Tomi Pienimäki will leave his position as Siili Solutions Plc's CEO. Siili's Board of Directors appointed Markku Savusalo as the interim CEO. Savusalo has worked at Siili since 2015, latest in the position of VP Digital Engineering business line. Process for the selection of the new CEO is underway. SIILI INCREASED OWNERSHIP IN SUPERCHARGE ZRT AND INTEGRATIONS GROUP OY Siili increased its ownership in its Hungarian subsidiary Supercharge Zrt to 100%, and its ownership in its Finnish subsidiary Integrations Group Oy to 70%. Risks and uncertainty factors Siili is exposed to various risk factors related to its operational activities and business environment. The realisation of risks may have an unfavourable effect on Siili’s business, financial position or company value. The most significant risks related to Siili’s operations are described below, along with other known risks that may 1 Due to a change in the calculation methodology, the KPI's comparative figure has changed from what was previously reported 4 / / / / / //SIILI H1 2026 IN BRIEF CEO’S REVIEW FINANCIAL STATEMENT NOTESOUTLOOK AND FINANCIAL TARGETS Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) INFORMATION FROM THE REVIEW PERIOD
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become significant in the future. In addition, there are risks that Siili is not necessarily aware of and which may become significant. – The loss of one or more key clients, a considerable decrease in purchases, financial difficulties experienced by clients or a change in a client’s strategy with regard to the procurement of IT services could have a negative effect on the company. – Failure to achieve recruitment goals in terms of both quality and quantity, and failure to match supply to customer demand in a timely manner. – Probability and adverse effects of the realisation of the aforementioned risks are more likely in an uncertain economic environment. – Failure in pricing, planning, implementation and improving cost efficiency of customer projects. – Loss of the contribution of key personnel or deterioration of the employer’s reputation. – Realisation of cyber or information security risks, for example, as a result of data breach and/or human error by an employee. In addition, heightened geopolitical uncertainty and increased activity by state actors have contributed to an elevated cyber threat landscape. – General negative or weakened economic development and the resulting uncertainty in the clients’ operating environment. The general economic cycle and changes in the clients’ operating environment can have negative effects through slowing down, postponing or cancelling decision-making on IT investments. General uncertainty, together with volatility arising from macroeconomic and geopolitical factors, continues to affect in particular our clients’ investment decisions, thereby also weighing on Siili’s business also in the current financial year. We continue to prepare for these effects by taking care of customer satisfaction and cost efficiency. General meeting of shareholders ANNUAL GENERAL MEETING Siili Solutions Plc’s Annual General Meeting (AGM) took place in Helsinki, Finland, on 8 April 2026. The Annual General Meeting adopted the financial statements and consolidated financial statements for the financial period 2025, discharged the CEO and the members of the Board of Directors from liability and decided to distribute a dividend of EUR 0.07 per share, totalling approximately EUR 0.57 million. The number of members of the Board of Directors was confirmed as five (5). Harry Brade, Jesse Maula, Henna Mäkinen, Katarina Cantell and Sebastian Nyström were re-elected to the Board. The Annual General Meeting decided that the Chair of the Board of Directors is paid EUR 3,850 per month, the Deputy Chair of the Board and Chair of Audit Committee EUR 2,500 per month and the other members EUR 2,000 per month. The Chairs of the Board’s Committees are paid EUR 200 per month for their work on the Committees, in addition to which all Committee members are paid a meeting fee of EUR 300 per meeting. In addition, the members of the Board of Directors receive compensation for travel expenses in line with the Company’s business travel policy. KPMG Oy AB, Authorised Public Accountants, was elected as the company’s auditor. KPMG has assigned Petri Sammalisto, APA as the Company’s responsible auditor. The auditor’s fees are paid against the auditor’s reasonable invoice. The Annual General Meeting authorised the Board of Directors to decide on the acquisition and/or acceptance as collateral of the company’s own shares. A maximum of 814,000 shares may be acquired and/ or accepted as collateral pursuant to the authorisation, corresponding to approximately 10 percent of all shares in the company. The shares are to be acquired in public trading arranged by Nasdaq Helsinki Ltd at the market price of the time of purchase. The company’s own shares can be acquired in a manner other than in proportion to the shareholders’ existing holdings. The acquisition of shares will reduce the company’s non- restricted equity. The Board of Directors will decide on other terms and conditions related to the acquisition and/or acceptance as collateral of the shares. The authorisation is valid until the end of the next Annual General Meeting but not beyond 30 June 2027. The Board of Directors was also authorised to decide on an issue of shares and an issue of special rights carrying entitlement to shares in accordance with chapter 10, section 1 of the Finnish Limited Liability Companies Act, in one or more tranches, either against consideration or free of charge. The maximum total number of shares issued, including shares issued on the basis of special rights, is 814,000, which corresponds to approximately 10% of all shares in the company. The total maximum number of shares to be issued for the purpose of share- based incentive schemes is 185,000 shares, which corresponds to approximately 2.3% of all the shares in the Company. The Board of Directors may decide to issue new shares or to transfer treasury shares held by the company. The authorisation entitles the Board of Directors to decide on all terms and conditions for an issue of shares and an issue of special rights entitling their holders to shares, including the right to deviate from the shareholders’ pre-emptive subscription right. The authorisation may be used for strengthening the company’s balance sheet, for paying transaction prices related to acquisitions, in incentive plans or for other purposes decided by the Board of Directors. The authorisation is valid until the end of the next Annual General Meeting but not beyond 30 June 2027. The Annual General Meeting approved the remuneration report of the governing bodies of the company. The resolution was advisory. Share and shareholders The company has one series of shares, and all of its shares carry entitlement to equal rights. On 30 June 2026, the total number of shares in Siili Solutions Plc entered in the Trade Register was 8,140,263. At the end of the reporting period, the company held a total of 31,698 of its own shares. On 30 June 2026, the members of the company’s Board of Directors and Management Team owned a total of 20,209 shares in the company. In addition, an entity under the control of a Board member owns 1,301,267 shares. During the reporting period, the highest price of the company share was EUR 4.85, the lowest price was EUR 2.26, the average price was EUR 3.20, and the closing price at the end of the review period was EUR 2.49. The company’s market capitalisation decreased by 46.2% from the end of 2025 and amounted to EUR 20.2 (37.5) million on 30 June 2026. The company had a total of 5,722 (5,850) shareholders on 30 June 2026. The number of shareholders decreased by 2.2% from the end of 2025. A list of the largest shareholders is available on the company website at / https://sijoittajille.siili.com/en. Events after the end of the reporting period SIILI ANNOUNCED THE CHANGE OF CHIEF PEOPLE OFFICER The company announced in early August that Taru Salo, Chief People Officer of Siili Solutions Plc and member of the Group Management Team, has resigned to take up a position with another company. Timo Miiluniemi 5 / / / / / //SIILI H1 2026 IN BRIEF CEO’S REVIEW FINANCIAL STATEMENT NOTESOUTLOOK AND FINANCIAL TARGETS Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) INFORMATION FROM THE REVIEW PERIOD
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has been appointed as interim CPO of Siili Solutions Plc, effective 1 September 2026. The process for selecting a new Chief People Officer is underway. SIILI UPDATED ITS FINANCIAL GUIDANCE FOR 2026 The company announced on 6 August 2026 that it lowers its financial guidance for 2026 group revenue and adjusted EBITA. The company expects now the revenue for 2026 to be EUR 95 ‑105 million (previous guidance was EUR 102 ‑126 million) and the adjusted EBITA to be EUR 0.5 ‑3.3 million (previous guidance was EUR 3.7‑6.9 million). Financial calendar for 2026 Siili will hold a results announcement event for analysts, portfolio managers and the media on 11 August 2026 at 1:00 p.m. The presentation materials will be published on the company website after the event. – The business review for 1 January–30 September 2026 will be published on 28 October 2026. SIILI'S SUSTAINABILITY REPORTING FOR 2026 Following the entry into force in June 2026 of Finnish legislation implementing the amendments to the EU Corporate Sustainability Reporting Directive (CSRD), Siili is not required to publish a sustainability report in accordance with the CSRD for the financial year 2026. Siili has decided to publish a voluntary sustainability report for the financial year 2026 based on a reporting framework other than the CSRD. The final content and reporting framework of the report, as well as its publication date, will be determined at a later stage. The report is expected to be published in summer 2027. 6 / / / / / //SIILI H1 2026 IN BRIEF CEO’S REVIEW FINANCIAL STATEMENT NOTESOUTLOOK AND FINANCIAL TARGETS Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) INFORMATION FROM THE REVIEW PERIOD
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Organic revenue growth, % EUR 1,000 H1/2026 H1/2025 2025 Revenue 50,060 57,543 108,076 Comparable pro forma revenue in the comparison period 57,543 60,441 114,113 Organic revenue growth, % -13.0% -4.8% -5.3% EBITA, Adjusted EBITA and EBITDA EUR 1,000 H1/2026 H1/2025 2025 EBIT -1,780 971 111 Amortisation and impairment for fair value adjustments on acquisitions 668 665 1,322 EBITA -1,113 1,636 1,433 Transaction costs / income (+/-) from business combinations - 60 60 Restructuring costs 750 866 2,613 Adjusted EBITA -363 2,562 4,107 EBIT -1,780 971 111 Depreciation, amortisation and impairment -2,034 2,330 4,701 EBITDA 254 3,300 4,812 Gearing, % EUR 1,000 H1/2026 H1/2025 2025 Financial liabilities measured at amortized cost 12,772 12,224 10,243 Contingent considerations measured at fair value through profit or loss 2,472 6,814 6,120 Liquid funds -10,310 -15,884 -12,859 Net debt 4,934 3,153 3,505 Equity 38,248 40,354 40,447 Gearing, % 12.9% 7.8% 8.7% Alternative performance measures Siili Solutions Plc uses alternative performance measures to describe the trend of the Group's profitability. The alternative performance measures should be reviewed parallel with the IFRS key figures. EBITDA is calculated by adding depreciation, amortisation and impairment to operating result. EBITA is calculated by adding amortisation and impairment for fair value adjustments on acquisitions to operating result. Adjusted EBITA is calculated by adding items affecting comparability to EBITA, such as direct costs of acquisitions. Organic revenue growth is calculated based on comparable revenue, reflecting changes in the corporate structure. The management uses these key figures for the monitoring and analysis of business development, profitability, and our financial position. H1/2026 H1/2025 2025 Revenue, EUR 1,000 50,060 57,543 108,076 Revenue growth, % -13.0% -2.8% -3.4% Organic revenue growth, % -13.0% -4.8% -5.3% Share of international revenue, % 26.6% 26.1% 27.8% EBITDA, EUR 1,000 254 3,300 4,812 EBITDA, % of revenue 0.5% 5.7% 4.5% EBITA, EUR 1,000 -1,113 1,636 1,433 EBITA, % of revenue -2.2% 2.8% 1.3% Adjusted EBITA, EUR 1,000 -363 2,562 4,107 Adjusted EBITA, % of revenue -0.7% 4.5% 3.8% EBIT, EUR 1,000 -1,780 971 111 EBIT, % of revenue -3.6% 1.7% 0.1% Result for the period, EUR 1,000 -2,438 738 936 Result for the period, % of revenue -4.9% 1.3% 0.9% Equity ratio, % 51.6% 49.9% 53.3% Gearing, % 12.9% 7.8% 8.7% Net debt/EBITDA 2.79 0.45 0.73 ROE, % 1 -5.7% 5.9% 2.3% ROI, % 1 -2.1% 5.3% 2.9% Basic earnings per share (EPS), EUR -0.30 0.09 0.12 Diluted EPS, EUR -0.30 0.09 0.12 Average number of employees during the period 835 921 903 Number of employees at the end of the period 823 900 863 Number of full-time employees (FTE) at the end of the period 780 882 794 Number of full-time subcontractors (FTE) at the end of the period 106 132 115 Total full-time employees and subcontractors (FTE) at the end of the period 886 1,014 909 1 The H1/2025 comparative figures differ from those previously reported due to a change in the calculation methodology. Previously, return on investment (ROI) and return on equity (ROE) were based on the annualized return for the six-month period, whereas in this report these ratios are calculated based on the return for the preceding 12 months. Key figures 7 Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) / / / / // CEO’S REVIEW INFORMATION FROM THE REVIEW PERIOD NOTESOUTLOOK AND FINANCIAL TARGETS/ SIILI H1 2026 IN BRIEF FINANCIAL STATEMENT
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EUR 1,000 H1/2026 H1/2025 2025 REVENUE 50,060 57,543 108,076 Other operating income 166 168 450 Materials and services -9,971 -12,063 -22,832 Employee benefit expenses -34,007 -35,995 -67,621 Depreciation and amortization -2,034 -2,330 -4,701 Other operating expenses -5,994 -6,353 -13,260 OPERATING RESULT -1,780 971 111 Financial income 419 551 1,592 Financial expenses -1,219 -951 -1,632 RESULT BEFORE TAXES -2,580 571 71 Income taxes 142 168 865 RESULT FOR THE PERIOD -2,438 738 936 Attributable to: Shareholders of the parent company 100% -2,438 738 936 Earnings per share based on the result attributable to shareholders of the parent company: Basic earnings per share (EUR), result for the period -0.30 0.09 0.12 Diluted earnings per share (EUR), result for the period -0.30 0.09 0.12 Consolidated income statement and consolidated statement of comprehensive income EUR 1,000 H1/2026 H1/2025 2025 RESULT FOR THE PERIOD -2,438 738 936 Other comprehensive income Items that may later be recognised through profit or loss Translation differences 1,219 361 903 TOTAL COMPREHENSIVE INCOME FOR THE PERIOD -1,219 1,099 1,839 Total comprehensive income for the period attributable to: Shareholders of the parent company 100% -1,219 1,099 1,839 8 Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) / / / / // CEO’S REVIEW INFORMATION FROM THE REVIEW PERIOD NOTESOUTLOOK AND FINANCIAL TARGETS/ SIILI H1 2026 IN BRIEF FINANCIAL STATEMENT
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EUR 1,000 30 Jun 2026 30 Jun 2025 31 Dec 2025 ASSETS Non-current assets Goodwill 34,497 33,471 33,776 Intangible assets 7,004 8,022 7,308 Tangible assets 636 691 560 Right-of-use assets 2,099 2,858 2,400 Other investments 1 1 1 Deferred tax assets 1,916 570 1,384 Receivables 143 147 145 Total non-current assets 46,297 45,759 45,574 Current assets Trade receivables 11,884 12,162 13,553 Other receivables 5,612 6,414 3,981 Current tax assets 195 1,307 522 Liquid funds 10,310 15,884 12,859 Total current assets 28,002 35,766 30,915 TOTAL ASSETS 74,298 81,525 76,489 Consolidated statement of financial position EUR 1,000 30 Jun 2026 30 Jun 2025 31 Dec 2025 SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity Share capital 100 100 100 Reserve for invested unrestricted equity 26,765 26,765 26,765 Treasury shares -217 -589 -217 Translation differences 887 -875 -332 Retained earnings 10,714 14,953 14,131 Total shareholders' equity 38,248 40,354 40,447 Non-current liabilities Financial liabilities 7,837 6,604 5,560 Lease liabilities 595 1,308 846 Other non-current interest-bearing liabilities - 1,978 1,026 Deferred tax liabilities 925 1,063 989 Total non-current liabilities 9,357 10,953 8,421 Current liabilities Financial liabilities 5,228 7,499 7,186 Lease liabilities 1,583 1,648 1,746 Trade and other payables 19,671 20,960 18,524 Current tax liabilities 199 102 154 Provisions 10 10 9 Total current liabilities 26,692 30,220 27,620 Total liabilities 36,049 41,173 36,041 TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES 74,298 81,525 76,489 9 Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) / / / / // CEO’S REVIEW INFORMATION FROM THE REVIEW PERIOD NOTESOUTLOOK AND FINANCIAL TARGETS/ SIILI H1 2026 IN BRIEF FINANCIAL STATEMENT
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EUR 1,000 H1/2026 H1/2025 2025 Cash flow from operating activities Result for the period -2,438 738 936 Adjustments: Depreciation and amortisation 2,034 2,330 4,701 Share-based incentive scheme 29 -42 -6 Other adjustments -4 -22 -23 Interest expenses and other financial expenses 1,219 951 1,632 Interest income -419 -15 -1,592 Taxes -142 -168 -865 Changes in working capital: Change in trade and other receivables 577 525 1,801 Change in trade and other payables 983 -1,887 -4,287 Interest paid -481 -468 -962 Interest received 183 14 79 Taxes paid -103 -625 94 Net cash flow from operating activities 1,438 1,477 1,508 Cash flow from investing activities Acquisitions of businesses and subsidiaries, net of cash acquired -4,262 -5,246 -5,053 Proceeds from the sale of tangible and intangible assets 4 9 11 Investments in tangible assets -177 -84 -113 Investments in intangible assets -308 - -177 Net cash flow from investing activities -4,743 -5,321 -5,333 Consolidated cash flow statement EUR 1,000 H1/2026 H1/2025 2025 Cash flows from financing activities Loan withdrawals 3,988 4,237 4,237 Loan repayments -1,048 -1,258 -2,821 Repayments of lease liabilities -1,135 -1,287 -2,499 Acquisition of treasury shares - -128 -206 Dividends paid -568 -1,460 -1,460 Distribution of dividends to non-controlling interests -446 -670 -671 Transactions with non-controlling interests -19 -42 -261 Net cash flow from financing activities 771 -608 -3,681 Change in liquid funds -2,534 -4,452 -7,506 Liquid funds at the beginning of the period 12,859 20,331 20,331 Effect of changes in currency exchange rates -15 5 33 Liquid funds at the end of the period 10,310 15,884 12,859 10 Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) / / / / // CEO’S REVIEW INFORMATION FROM THE REVIEW PERIOD NOTESOUTLOOK AND FINANCIAL TARGETS/ SIILI H1 2026 IN BRIEF FINANCIAL STATEMENT
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Equity attributable to shareholders of the parent company EUR 1,000 Share capital Reserve for invested unrestricted equity Treasury shares Translation differences Retained earnings Total shareholders' equity Shareholders' equity on 1 January 2026 100 26,765 -217 -332 14,131 40,447 Comprehensive income Result for the period - - - - -2,438 -2,438 Other comprehensive income (net of tax) Translation differences - - - 1,219 - 1,219 Total comprehensive income for the period - - - 1,219 -2,438 -1,219 Transactions with owners Distribution of dividends - - - - -568 -568 Share-based incentive scheme - - - - 29 29 Distribution of dividends to non-controlling interests - - - - -446 -446 Other changes - - - - 6 6 Total transactions with owners - - - - -979 -979 Shareholders' equity on 30 June 2026 100 26,765 -217 887 10,714 38,248 Shareholders' equity on 1 January 2025 1 100 26,765 -461 -1,236 16,052 41,220 Comprehensive income Result for the period - - - - 738 738 Other comprehensive income (net of tax) Translation differences - - - 361 - 361 Total comprehensive income for the period - - - 361 738 1,099 Transactions with owners Distribution of dividends - - - - -1,460 -1,460 Share-based incentive scheme - - - - -37 -37 Acquisition of treasury shares - - -128 - - -128 Distribution of dividends to non-controlling interests - - - - -671 -671 Transactions with non-controlling interests - - - - -43 -43 Total transactions with owners - - -128 - -2,210 -2,337 Shareholders' equity on 30 June 2025 1 100 26,765 -589 -875 14,580 39,982 1 The figure has been revised from that reported in the H1/2025 Half-year report. For further information, see Note 1 to the Consolidated Financial Statements in Siili's 2025 Annual Report. Consolidated statement of changes in shareholders' equity 11 Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) / / / / // CEO’S REVIEW INFORMATION FROM THE REVIEW PERIOD NOTESOUTLOOK AND FINANCIAL TARGETS/ SIILI H1 2026 IN BRIEF FINANCIAL STATEMENT
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Notes to the half-year report ACCOUNTING PRINCIPLES The half-year report is prepared in accordance with IAS 34 (Interim Financial Reporting), applying the same accounting principles as in the financial statements. The figures presented have been rounded off from the exact figures. The half- year report is unaudited. The Group has one operating segmenet, and therefore one reportable segment, which provides its clients with information system development services. The single-segment presentation is based on Siili’s current business model, product portfolio and corporate governance structure, as well as the nature of its operations. For this reason, the figures for the reported segment are equal to those for the Group. BREAKDOWN OF REVENUE Geographical breakdown of revenue EUR 1,000 H1/2026 H1/2025 2025 Sales in Finland 36,733 42,499 78,036 Sales to abroad 13,326 15,045 30,039 Total 50,060 57,543 108,076 Breakdown by revenue category EUR 1,000 H1/2026 H1/2025 2025 Sales of work 41,879 49,492 91,859 Project deliveries 2,784 2,978 6,182 Licence sales 1,826 1,798 3,254 Maintenance and other services 3,571 3,277 5,114 Total 50,060 57,543 108,076 CHANGES IN GOODWILL AND INTANGIBLE AND TANGIBLE ASSETS EUR 1,000 Goodwill Intangible assets Tangible assets Right-of-use assets Cost 1 Jan 2026 33,776 20,067 6,272 7,595 Translation differences 721 493 130 5 Additions - 308 250 675 Disposals - - -2 -27 Cost 30 Jun 2026 34,497 20,869 6,650 8,247 Acc. depreciation/amortisation and impairment 1 Jan 2026 - -12,759 -5,711 -5,195 Translation differences - -234 -108 -4 Depreciation/amortisation and impairment for the period - -871 -196 -966 Acc. depreciation/amortisation on disposals - - 2 17 Acc. depreciation/amortisation and impairment 30 Jun 2026 - -13,865 -6,013 -6,148 Book value 1 Jan 2026 33,776 7,308 560 2,400 Book value 30 Jun 2026 34,497 7,004 636 2,099 EUR 1,000 Goodwill Intangible assets Tangible assets Right-of-use assets Cost 1 Jan 2025 31,868 18,581 5,925 8,418 Translation differences 262 175 47 -6 Additions 1,341 930 81 898 Disposals - - -16 -1,576 Cost 30 Jun 2025 33,471 19,686 6,086 7,734 Acc. depreciation/amortisation and impairment 1 Jan 2025 - -10,907 -5,075 -5,159 Translation differences - -67 -41 3 Depreciation/amortisation and impairment for the period - -690 -295 -1,195 Acc. depreciation/amortisation on disposals - - 16 1,475 Acc. depreciation/amortisation and impairment 30 Jun 2025 - -11,664 -5,394 -4,876 Book value 1 Jan 2025 31,868 7,673 850 3,260 Book value 30 Jun 2025 33,471 8,022 691 2,858 12 Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) / / / / // CEO’S REVIEW INFORMATION FROM THE REVIEW PERIOD FINANCIAL STATEMENTOUTLOOK AND FINANCIAL TARGETS/ SIILI H1 2026 IN BRIEF NOTES
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NON-CURRENT FINANCIAL LIABILITIES AND OTHER INTEREST-BEARING LIABILITIES EUR 1,000 30 Jun 2026 30 Jun 2025 31 Dec 2025 Financial liabilities measured at amortized cost 8,432 7,911 6,406 Contingent consideration measured at fair value - 1,978 1,026 Total 8,432 9,890 7,432 CURRENT FINANCIAL LIABILITIES AND OTHER INTEREST-BEARING LIABILITIES EUR 1,000 30 Jun 2026 30 Jun 2025 31 Dec 2025 Financial liabilities measured at amortized cost 4,339 4,312 3,838 Contingent consideration measured at fair value 2,472 4,835 5,094 Total 6,812 9,147 8,932 CONTINGENT CONSIDERATION LIABILITIES In the first year-half 2026 Siili acquired additional stakes in Supercharge Zrt. and Integrations Group Oy. The considerations paid to minority interests for these additional stakes totalled EUR 4,262 thousand. In addition, some of the minority shareholders of Vala Group Oy have sold their shares back to the company. Financial expenses and income due to fair value adjustments of contingent consideration liabilities under the acquisition agreements recognised in the period totalled EUR -357 (150) thousand. At the end of the first year-half, the Group had contingent consideration liabilities totalling EUR 2,472 (6,814) thousand, all of which was short-term liabilities. CHANGES IN CONTINGENT CONSIDERATIONS EUR 1,000 Supercharge Zrt. Vala Group Oy Integrations Group Oy Total 1 Jan 2026 3,226 1,171 1,724 6,120 Fair value change on the agreement 1 -199 -20 577 357 Payment to minority interest for additional stake -3,303 -19 -959 -4,282 Exchange rate fluctuation impact on the contingent liability 276 - - 276 30 Jun 2026 - 1,131 1,341 2,472 Of which at the end of the financial period: Non-current - - - - Current - 1,131 1,341 2,472 1 The change in the fair value of the agreement and the effect of the unwinding of the discount have been combined and presented on the same line as the net impact on the result. EUR 1,000 Supercharge Zrt. Vala Group Oy Integrations Group Oy Total 1 Jan 2025 8,566 1,121 - 9,686 Fair value change on the agreement 1 -327 62 115 -150 Contingent consideration according to the agreement - - 1,183 1,183 Payment to minority interest for additional stake -4,231 - -90 -4,321 Exchange rate fluctuation impact on the contingent liability 416 - - 416 30 Jun 2025 4,424 1,183 1,208 6,814 Of which at the end of the financial period: Non-current - 1,183 797 1,978 Current 4,424 - 411 4,835 1 The change in the fair value of the agreement and the effect of the unwinding of the discount have been combined and presented on the same line as the net impact on the result. 13 Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) / / / / // CEO’S REVIEW INFORMATION FROM THE REVIEW PERIOD FINANCIAL STATEMENTOUTLOOK AND FINANCIAL TARGETS/ SIILI H1 2026 IN BRIEF NOTES
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FAIR VALUE HIERARCHY LEVELS During the review period, no instruments were transferred from one fair value hierarchy level to another. Level 1 The fair values of the hierarchy level 1 are based on the quoted (unadjusted) prices of identical assets or liabilities in active markets. Level 2 The fair values of the level 2 instruments are based, to a significant extent, on inputs other than quoted prices but still on information that is observable for the asset or liability in question, either directly or indirectly. Level 3 The fair values of the level 3 instruments are based on inputs about the asset or liability that are not based on observable market information but instead, to a significant extent, on estimates by the management and their utilization in generally accepted valuation models. RELATED PARTY TRANSACTIONS There were no significant changes involving relationships or transactions with related parties during the review period. The salaries and fees paid to the company’s Board of Directors and Management Team are published annually in connection with the financial statements. Helsinki, 11 August 2026 Board of Directors, Siili Solutions Plc FURTHER INFORMATION: Interim CEO & VP, Digital Engineering Markku Savusalo tel. +358 40 154 7970 CFO Tuomas Toropainen tel. +358 50 911 9598 SIILI SOLUTIONS IN BRIEF: Siili Solutions Plc is a forerunner in AI-powered digital development. Siili is the go-to partner for clients seeking growth, efficiency and competitive advantage through digital transformation. Our main markets are Finland, the Netherlands, the United Kingdom, and Germany. Siili Solutions Plc’s shares are listed on the Nasdaq Helsinki Stock Exchange. / www.siili.com 30 Jun 2026 30 Jun 2025 EUR 1,000 Book value Fair value Book value Fair value Fair value hierarchy Financial assets Recognized at amortized cost Non-current Receivables 143 143 147 147 2 Current Trade receivables 11,884 11,884 12,162 12,162 2 Other receivables 758 758 874 874 2 Liquid funds 10,310 10,310 15,884 15,884 2 Recognized at fair value through profit or loss Current Interest rate swap - - 6 6 2 Total financial assets 23,096 23,096 29,073 29,073 Financial liabilities Measured at amortized cost Non-current Bank loans 1 7,837 7,837 6,604 6,604 2 Other interest-bearing liabilities 1 595 595 1,308 1,308 2 Current Bank loans 1 2,756 2,756 2,664 2,664 2 Other interest-bearing liabilities 1 1,583 1,583 1,648 1,648 2 Trade and other payables 10,776 10,776 11,356 11,356 2 Financial liabilities at fair value through profit or loss Non-current Contingent consideration 1 - - 1,978 1,978 3 Current Contingent consideration 1 2,472 2,472 4,835 4,835 3 Total financial liabilities 26,020 26,020 30,393 30,393 1 Included in the statement of financial position item Financial liabilities. 14 Siili Solutions Plc, Half-year report, 1 January–30 June 2026 (unaudited) / / / / // CEO’S REVIEW INFORMATION FROM THE REVIEW PERIOD FINANCIAL STATEMENTOUTLOOK AND FINANCIAL TARGETS/ SIILI H1 2026 IN BRIEF NOTES