Enento Group Plc | Stock Exchange Release | October 29, 2026 at 11:00:00 EET
Summary
July – September 2026 in brief
· Net sales amounted to EUR 38,8 million (EUR 37,3 million), an increase of 4,0% (at comparable exchange rates increase of 3,4%).
· Adjusted EBITDA was EUR 15,1 million (EUR 13,5 million), an increase of 11,4% (at comparable exchange rates increase of 11,0%).
· Adjusted EBITDA margin was 38,8% (36,2%), an increase of 2,6 pp (at comparable exchange rates increase of 2,7 pp).
· Adjusted EBIT was EUR 12,1 million (EUR 10,7 million), an increase of 13,1% (at comparable exchange rates increase of 12,7%).
· Operating profit (EBIT) was EUR 10,2 million (EUR 8,2 million).
January – September 2026 in brief
· Net sales amounted to EUR 118,3 million (EUR 113,6 million), an increase of 4,1% (at comparable exchange rates increase of 2,9%).
· Adjusted EBITDA was EUR 43,1 million (EUR 39,0 million), an increase of 10,6% (at comparable exchange rates increase of 9,6%).
· Adjusted EBITDA margin was 36,5% (34,3%), an increase of 2,2 pp (at comparable exchange rates increase of 2,2 pp).
· Adjusted EBIT was EUR 34,3 million (EUR 30,4 million), an increase of 13,0% (at comparable exchange rates increase of 12,1%).
· Operating profit (EBIT) was EUR 19,6 million (EUR 18,3 million).
· The Board of Directors has decided on 29 October 2026 on the basis of the authorization by the Annual General Meeting 2026, to pay a second installment of dividend of EUR 0,50 per share with a record date of 2 November 2026 and payment date of 9 November 2026. The first dividend installment of EUR 0,50 per share was paid on 15 April 2026.
· The Board of Directors has decided on 29 October 2026 on the basis of the authorization by the Annual General Meeting 2026, to initiate a share buyback program to optimize Enento’s capital structure through reduction of capital and to prepare for long-term incentive program payments. The maximum number of shares to be repurchased under the program is 120 000, representing approximately 0,50% of the company’s total number of shares and votes. The program will start on 30 October 2026 and will be completed by 12 February 2027.
In July – September 2026, the items affecting comparability amounted to EUR 0,0 million (EUR -0,6 million) and in January – September 2026, the items affecting comparability amounted to EUR -9,1 million (EUR -6,1 million). Items affecting comparability consist of goodwill amortization from Emaileri divestment and costs related to change negotiations.
In July – September 2026, the amortization from fair value adjustments amounted to EUR -1,9 million
(EUR -2,0 million) and in January – September 2026 to EUR -5,6 million (EUR -5,9 million).
| Key figures | |||||||||
| 1.7. – | 1.7. – | 1.1. – | 1.1. – | 1.1. – | |||||
| EUR million | 30.9.2026 | 30.9.2025 | 30.9.2026 | 30.9.2025 | 31.12.2025 | ||||
| Net sales | 38,8 | 37,3 | 118,3 | 113,6 | 152,7 | ||||
| Net sales change, % (comparable fx rates) | 3,4 | -0,1 | 2,9 | -0,3 | 0,0 | ||||
| Net sales change, % (reported fx rates) | 4,0 | 1,3 | 4,1 | 0,9 | 1,5 | ||||
| Operating profit (EBIT) | 10,2 | 8,2 | 19,6 | 18,3 | 25,4 | ||||
| EBIT margin, % | 26,3 | 21,8 | 16,5 | 16,1 | 16,6 | ||||
| Adjusted EBITDA | 15,1 | 13,5 | 43,1 | 39,0 | 52,4 | ||||
| Adjusted EBITDA margin, % | 38,8 | 36,2 | 36,5 | 34,3 | 34,3 | ||||
| Adjusted operating profit (EBIT) | 12,1 | 10,7 | 34,3 | 30,4 | 41,0 | ||||
| Adjusted EBIT margin, % | 31,2 | 28,7 | 29,0 | 26,7 | 26,9 | ||||
| New services of net sales, % | 9,2 | 6,3 | 9,1 | 8,9 | 8,1 | ||||
| Free cash flow | 11,4 | 7,2 | 31,3 | 20,7 | 34,1 | ||||
| Net debt to Adjusted EBITDA, x | 2,3 | 2,8 | 2,3 | 2,8 | 2,7 | ||||
| Earnings per share, EUR | 0,29 | 0,22 | 0,48 | 0,43 | 0,57 | ||||
| Adjusted earnings per share, EUR | 0,36 | 0,30 | 1,01 | 0,84 | 1,14 | ||||
Future outlook and guidance (unchanged 17 July 2026)
Macroeconomic and geopolitical uncertainties remain. Regulatory changes in the Swedish lending market continue to influence the operating environment, however, the impact on Enento is expected to be modest. In Finland, the macroeconomic outlook is more subdued but demand for Enento’s services is anticipated to remain stable. Supported by stabilizing market activity and improving conditions in Sweden, we expect Enento’s net sales to grow in 2026 at comparable exchange rates.
Enento is focused on improving Adjusted EBITDA and strengthening free cash flow through disciplined cost control, while simultaneously investing in future competitiveness and growth opportunities.
Enento Group expects that in 2026, with comparable exchange rates, its net sales will grow by 0-5% and Adjusted EBITDA will increase compared to 2025, with Adjusted EBITDA growth exceeding net sales growth at comparable exchange rates.
Teppo Paavola, CEO
Q3 2026 was a strong quarter for Enento, with growth across all reported segments and continued positive momentum from the first half of the year. Group net sales increased by 3,4% at comparable exchange rates and amounted to EUR 38,8 million (EUR 37,3 million). Adjusted EBITDA grew considerably faster than net sales, with adjusted EBITDA margin reaching 38,8% (36,2%). Also, free cash flow improved significantly.
We are on a transformation journey from a data provider to a technology company that combines trusted data, regulatory expertise and AI capabilities. Our ambition is to help customers make continuously better decisions with confidence by developing AI-enabled products and connectors that make our data easier to access and use. At the same time, we are leveraging AI to accelerate product development and improve our internal efficiency. AI is only as powerful as the data behind it, and roughly two thirds of our data is unique. This provides a strong foundation for innovation and reinforces our market-leading position.
We are excited to have launched our AI connectors across the Nordics. This allows customers to use their own AI tools for analysis and decision-making while relying on Enento’s trusted unique data. The connectors’ beta versions are currently being tested by our customers and developed further based on the feedback. We will continue to develop more AI-native products going forward.
To support the transition into a technology-led company, we made changes to the Executive Management Team (EMT) in October. We have started the recruitment of a new Chief Technology Officer, who will replace the Chief Information Officer role in the EMT. Also, the interim country leadership of Sweden was strengthened in August by appointing Petter Alvsten as Interim Country Director for Sweden until the previously appointed Alexandra Åquist joins Enento at the beginning of 2027. This enables dedicated leadership in Sweden while Carl Brynielsson has his full focus on Norway and Denmark.
In Finland the improved macroeconomic environment was finally visible in the business during Q3. Net sales grew by 5,3%, and 6,4% excluding the divested Emaileri business. Growth was driven by consumer information services, supported by higher consumer lending volumes and new customer wins, while growth in business information services was more moderate. To support further growth, we have strengthened our sales teams, with a focus on new customer acquisition.
In Sweden, sales grew by 2,4% at comparable exchange rates. Consumer information continued to perform well, supported by higher consumer credit volumes in both unsecured lending and housing transactions. Business information services remained affected by the SME transformation as Premium revenue continued to be under pressure. Otherwise, the transformation is progressing according to plan. Churn has remained in line with expectations and lower sales commissions have supported profitability.
In Norway and Denmark, development was two-fold, net sales growing by 0,2% at comparable exchange rates. The visibility and data-driven premium services for SMEs grew by double digits through both online and offline channels, while display advertising business continued to be affected by temporary resource constraints. Corrective actions have been taken, and sales resources have since been strengthened. The segment made a strong improvement in profitability, originating from improved sales efficiency.
Group Adjusted EBITDA increased by 11,0% at comparable rates and reached EUR 15,1 million (EUR 13,5 million). Profitability improvement was driven mainly by scalable net sales growth and supported by operational efficiencies. Adjusted free cash flow improved and landed at EUR 15,2 million (EUR 8,7 million), resulting in an Adjusted cash conversion of 100,8% (64,4%).
During the quarter, we renewed our long-term financing package, comprising of a EUR 150 million term loan and a EUR 30 million revolving credit facility. The agreement has a three-year maturity and includes two one-year extension options. Our strong cash flow and strengthened financial position allow us to allocate capital to our shareholders. The second dividend payment for 2026 of EUR 0,5 will be paid out in November. In addition, we will initiate a share buyback program for a maximum of 120 000 shares representing approximately 0,50% of total shares. The program supports efficient capital allocation and prepares for potential share-based payments under the company’s long-term incentive programs.
Looking ahead, as the current strategy period approaches its conclusion, we prepare to deliver value in an evolving business environment against our strategic priorities. The macroeconomic environment in the Nordics has improved, though the situation may change as interest rates have started to rise again. Geopolitical uncertainty remains and we continue to monitor macro indicators as well as regulatory changes affecting our markets closely. Our guidance for 2026 remains unchanged. We continue to expect that, with comparable exchange rates, net sales will grow by 0–5% and Adjusted EBITDA will increase compared to 2025, with Adjusted EBITDA growth exceeding net sales growth at comparable exchange rates. We remain focused on sales execution, investing in AI-enabled products and building future growth and value for our customers, employees and shareholders.
WEBCAST
Webcast for analysts, investors and media will be arranged on 29 October 2026, starting at 13.00 (EET). CEO Teppo Paavola and CFO Elina Stråhlman will present the results in English.
The webcast can be followed at: https://enento.events.inderes.com/q3-2026
The presentation material and the webcast recording will be available on Enento’s investor website.
Helsinki, 29 October 2026
ENENTO GROUP PLC
Board of Directors