Nordic software company Solteq Plc lowered its profit guidance for 2025, signaling that the expected recovery in profitability will be weaker than previously forecast. 

Solteq now estimates that its comparable operating result will remain at the same level or improve, compared with earlier guidance that pointed to a significant improvement, according to its guidance released today. Revenue guidance was left unchanged, with comparable revenue still expected to decrease slightly.

Solteq is a Nordic software solutions and expert services provider focused on retail, commerce, and energy, with operations across Finland, Sweden, Norway, Denmark, Poland, and the UK. Unlike larger Nordic software companies with higher exposure to recurring SaaS revenues, Solteq remains relatively dependent on consulting and project-based work, making it more sensitive to short-term fluctuations in customer demand. 

The profit warning follows a financially tepid year. Solteq’s share price has fallen by more than 30% year-to-date, trading at EUR 0.41 in the afternoon. 

The guidance cut was foreshadowed by weak earnings. In July–September, comparable revenue declined by 5.2 % to €10.4 million, while comparable operating profit fell to €0.1 million, down from €0.5 million a year earlier, according to the latest interim report. The comparable operating margin narrowed to 1.1 %, from 4.7 % in the comparison period.

Hard times often precede a leadership overhaul. Based on Listeds data, Solteq has made four board changes during the year, resulting in the replacement of two members. In parallel, the company has strengthened its management team by appointing Jesper Kaysen as EVP of utilities and Petteri Ahonen as EVP of retail & commerce, signaling a more focused effort to renew leadership in its core segments.

Looking ahead, CEO Aarne Aktan emphasized continued cost adjustments and operational improvements. In the interim report, published in late October, he said that “work to adjust the cost structure and enhance operational efficiency is continuous,” while adding that “our confidence in the long-term direction and strategic choices remains strong.”