Income Statement

SRV's revenue growth in the last quarter has been driven by a combination of factors, including a strong order backlog and a steady increase in new agreements. The company's ability to secure significant projects, such as the Meyer Turku's new headquarters and the Kouvola multipurpose arena, has contributed to its revenue growth. Additionally, SRV's focus on renovation and new construction projects has positioned the company well to capitalize on the growing demand for high-quality renovation and new construction projects in the Finnish market. However, the company's revenue growth is expected to be weighted towards the second half of the year, as projects won in 2026 and those currently in the development phase begin to generate revenue and margins. Overall, SRV's revenue growth is a positive trend that is expected to continue, driven by the company's strong order backlog, new agreements, and strategic focus on renovation and new construction projects.

The realised revenue for Q2 2026 is 199.6 million Euros, and the predicted revenue for Q2 2027 (e) is 188.8 million Euros. The revenue is expected to decrease by 10.8 million Euros, which is a 5.4% decrease from the realised value. The revenue is expected to increase by 2.0 million Euros from 2025 to 2026, which represents a 0.3% change. From 2026 to 2027, the revenue is predicted to decrease by 12.1 million Euros, a 1.7% change. The annual revenue values are 705.6 million Euros in 2025, 707.6 million Euros in 2026, and 695.5 million Euros in 2027.

SRV's EBIT profitability has been experiencing a decline, with a significant drop in the most recent period. This downturn can be attributed to the company's increased focus on strengthening its leading position in cooperative and other contracting projects, which has led to a shift in its business mix and reduced profitability. Furthermore, the escalation of the conflict in Iran and subsequent rise in interest rates have likely contributed to a decline in construction activity, negatively impacting SRV's earnings performance. Additionally, the company's reliance on confirmed tax losses to support its deferred tax assets introduces a layer of uncertainty, as the ability to generate taxable income is subject to various external factors beyond SRV's control. Overall, SRV's EBIT profitability is likely to remain under pressure in the near term, requiring the company to adapt its strategy and mitigate the impact of external factors on its financial performance.

The realised Ebit for Q2 2026 is 0.4 million Euros, while the predicted Ebit for Q2 2027 (e) is 0.7 million Euros. The expected change in Ebit from Q2 2026 to Q2 2027 (e) is 0.3 million Euros, which represents a 75% increase. The Ebit is expected to decrease by 7.5 million Euros from 2025 to 2026, which is a 129% change from the previous year. From 2026 to 2027, the Ebit is expected to increase by 4.9 million Euros, which is a 286% change from the previous year. The annual Ebit values are 5.8 million Euros in 2025, -1.7 million Euros in 2026, and 3.2 million Euros in 2027.

The realised Profit before tax in Q2 2026 is -1.4 million Euros, while the predicted Profit before tax in Q2 2027 (e) is 0.7 million Euros. The expected change in Profit before tax from Q2 2026 to Q2 2027 (e) is an increase of 1.5 million Euros, which represents a 107.14% change. The expected change in Profit before tax from 2025 to 2026 is a decrease of 3 million Euros, which is a 125% change from the previous year. From 2026 to 2027, the expected change is an increase of 8.6 million Euros, which is a 160% change from the previous year. The annual values for Profit before tax are -2.4 million Euros in 2025, -5.4 million Euros in 2026, and 3.2 million Euros in 2027.

The realised profit for Q2 2026 is -0.3 million Euros, while 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 an increase of 0.8 million Euros, which represents a 267% change. The expected change in Profit from 2025 to 2026 is a decrease of 3.3 million Euros, which translates to a percentage decrease of 100%. From 2026 to 2027, the expected change is an increase of 5.8 million Euros, which is a 175% increase from the 2026 value. The annual Profit values are 3.3 million Euros in 2025, -3.3 million Euros in 2026, and 2.5 million Euros in 2027.