The first half delivered growth, but the guidance needs a margin step-up
LapWall's January to June revenue rose 24.0% to EUR 23.3 million, and EBITA grew 80.1% to EUR 2.0 million. The EBITA margin reached 8.6%, against 5.9% a year earlier. Between quarters, however, the margin moved the other way, falling from 9.5% in the first quarter to 7.9% in the second, although both were ahead of the prior year
The company kept its guidance for 2026 of EUR 49 to 54 million in revenue and EUR 4.8 to 5.8 million in EBITA.
Order backlog gives visibility, the Pyhännä factory sets the pace
Demand is not the constraint. The order backlog reached EUR 25.4 million at the end of June, the highest in the company's history, and the offer pipeline stood at nearly EUR 60 million. Pekkarinen pointed to data centre construction as a growing segment, including a supply agreement for XTX Markets' data centre project in Kajaani.
Capacity is the variable. The new Pyhännä factory, LapWall's largest investment to date, was about 95% complete on a cost basis at the end of June. In April, the aim was single-shift production across the whole factory during 2026. By August, the target to meet the investment's production goals had moved to the final quarter of the year, with the company noting that ramp-up remained behind its original schedule. Headcount rose from 127 to 143 over the year to June.
The redesigned role reflects a company scaling towards 2030
LapWall targets revenue of around EUR 100 million and an EBITA margin of 15 to 20% by the end of 2030. The new CFO mandate is built for that trajectory.
"The next phase of LapWall's growth strategy will bring new demands on management. The role of CFO combines financial management, forecasting and knowledge-based management, risk management and, as an important part, legal support for business operations. Tiina's extensive experience in financial, legal and business management, as well as international project business, strengthens the expertise of our management team in these areas. I warmly welcome Tiina to LapWall," says CEO Jarmo Pekkarinen.
Määttä's record fits that brief. She has held finance and legal advisory roles at Talenom and Greenstep, and served as CEO of Kymsol Group and COO of Kymsol, supporting domestic and international project businesses. For a supplier whose revenue is built on project contracts and whose net gearing stood at 60.0% in June, legal oversight of commercial terms sits close to margin protection.
"LapWall has boldly built the foundation for its growth strategy. I look forward to working with the staff, customers and stakeholders. It is great to be able to join a talented group to build LapWall's growth and future together," says Tiina Määttä.
Her first reporting cycle will show how much of the backlog the new factory can convert.
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