Consti (CONSTI) Investor presentation summary

Financial performance and profitability

• Net sales reached EUR 336.2m in 2025, up 2.9% year-on-year, with strong growth in the Housing Companies segment.

• EBIT for 2025 was EUR 9.4m, representing a 2.8% margin, impacted by a prolonged construction downturn and resource allocation to tendering.

• Free cash flow improved to EUR 16.8m, with a rolling 12-month cash conversion ratio of 129.2%.

• Return on capital employed (ROCE) remained strong at 21.3% in Q4 2025.

• Dividend proposal for 2025 is EUR 0.72 per share, or 83.5% of EPS.

Order intake, backlog, and market environment

• Order intake for 2025 was EUR 250.7m, down 3.2% year-on-year, reflecting continued weak demand and tight competition.

• Year-end order backlog stood at EUR 208.2m, a 13.3% decrease from the previous year.

• A significant project alliance for the Government Palace city block will add approximately EUR 112m to the order backlog in Q1 2026.

• Construction confidence in Finland remains low, with market recovery slower than expected.

Strategic direction and outlook

• Strategy focuses on growth in construction and building technology, driven by urbanisation, ageing building stock, and climate change.

• Emphasis on operational efficiency, customer-centricity, and sustainability.

• Financial targets for 2027 include net sales of ~EUR 400m, EBIT margin >5%, cash conversion >90%, and net debt/EBITDA <2.5x.

• 2026 operating result is estimated to be in the range of EUR 8–11m, with no significant improvement in demand expected in H1.