Income Statement

Inderes' revenue growth in the second quarter was driven by strong sales performance in the Software business, particularly in recurring revenue products. The company's ability to adapt to the shift towards fully digital general meetings has opened up new opportunities for its AGM product, contributing to the revenue growth. However, the Events business revenue was impacted by higher subcontracting costs associated with large event productions, which may indicate a need for the company to optimize its cost structure. Despite this, the overall revenue growth in the second quarter was encouraging, and Inderes' strategy of investing in product development and international growth appears to be paying off. The company's ability to win new international customers, particularly in Denmark and Sweden, suggests that its internationalization strategy is gaining momentum.

The realised revenue for Q2 2026 is 5.9 million Euros, while the predicted revenue for Q2 2027 (e) is 6.0 million Euros. The revenue is expected to increase by 0.1 million Euros, which is a 1.7% change from Q2 2026 to Q2 2027 (e). The revenue is expected to increase by 2.0 million Euros from 2025 to 2026, which represents a 10.5% change. From 2026 to 2027, the revenue is predicted to increase by 1.1 million Euros, a 5.0% change. The annual revenue values are 19.1 million Euros in 2025, 21.1 million Euros in 2026, and 22.0 million Euros in 2027.

Inderes has demonstrated a notable improvement in EBIT profitability, with a significant increase in the EBIT margin compared to the previous year. This development is largely driven by the strong recurring revenue growth in the Software business, which has contributed to a more stable and predictable revenue stream. Additionally, the company's ability to maintain a stable revenue and cost structure in the Research business has also played a crucial role in enhancing profitability. However, the growth in AGM services and Capital Markets Day (CMD) productions has introduced some volatility in the cost structure, which has somewhat tempered the pace of profitability growth. Nevertheless, Inderes's focus on operational efficiency and cost management has enabled the company to maintain a robust EBIT margin, positioning it for continued growth and success.

The realised Ebit for Q2 2026 is 0.6 million Euros, while the predicted Ebit for Q2 2027 (e) is also 0.6 million Euros. The expected change in Ebit from Q2 2026 to Q2 2027 (e) is 0 million Euros, which translates to a percentage change of 0%. The expected change in Ebit from 2025 to 2026 is 1.3 million Euros, representing a 44.4% increase. From 2026 to 2027, the expected change is 0.6 million Euros, a 27.3% increase. The annual Ebit values are 0.9 million Euros in 2025, 2.2 million Euros in 2026, and 2.8 million Euros in 2027.

The realised profit before tax in Q2 2026 is 0.5 million Euros, while the predicted profit before tax in Q2 2027 (e) is 0.6 million Euros. The expected change in profit before tax from Q2 2026 to Q2 2027 (e) is 0.1 million Euros, which represents a 20% increase. The change in Profit before tax from 2025 to 2026 is 1.5 million Euros, representing a 250% increase. From 2026 to 2027, the change is 0.7 million Euros, a 33% increase. The annual values for Profit before tax are 0.6 million Euros in 2025, 2.1 million Euros in 2026, and 2.8 million Euros in 2027.

The realised profit for Q2 2026 is 0.4 million Euros, and the predicted profit for Q2 2027 (e) is 0.5 million Euros. The expected change in profit from Q2 2026 to Q2 2027 (e) is 0.1 million Euros, which represents a 25% increase. The change in profit from 2025 to 2026 is 1.4 million Euros, representing a 700% increase. The change in profit from 2026 to 2027 is 0.6 million Euros, representing a 37.5% increase. The annual profit values are 0.2 million Euros in 2025, 1.6 million Euros in 2026, and 2.2 million Euros in 2027.