Margins

Administer's profitability margins have been significantly impacted by non-recurring expenses, which have weighed heavily on the company's operating profit and EBITDA. These expenses, primarily related to restructuring and redundancy costs, have had a substantial effect on the company's bottom line, making it challenging for Administer to maintain its profitability margins. Furthermore, the loss-making operations of Sarastia have also contributed to the decline in profitability, highlighting the need for Administer to address these issues and improve its operational efficiency.

Solvency

The Equity Ratio in Q2 2026 is 34.1%. It is expected to decrease to 33.8% by Q4 2027 (e). The five-year average Equity Ratio is 39.0%.

Gearing

Administered gearing in Q2 2026 is 55.3%, indicating a high level of gearing. It is expected to decrease to 37.3% by Q4 2027 (e), suggesting a reduction in gearing over the next few years. The five-year average gearing is 43.4%.

Return on Equity and Assets

The Return On Equity (ROE) in Q2 2026 is a negative 11.8%, indicating a decline in profitability. The expected trend suggests a significant improvement by Q4 2027 (e), with a projected ROE of -2.1%, indicating a stabilization of the company's financial health. The five-year average ROE is a negative 5.9%, reflecting a consistent pattern of declining profitability over the period.

In Q2 2026, the company's ROA is a negative 4.0%, indicating a decline in profitability. Looking ahead, the ROA is expected to improve slightly by Q4 2027 (e), reaching a negative 0.7%, while the five-year average ROA remains a negative 2.4%.

Asset Turnover Ratio

Asset Turnover Ratio is calculated as revenue / total assets.