EEZY PLC -- INTERIM REPORT -- 6 NOVEMBER 2025 AT 8:00
Eezy Plc's Interim Report 1–9/2025: Chain-wide revenue development is slightly better than the market, profitability improved
July–September 2025
- Chain-wide revenue*, which also includes the revenue of franchisees, was EUR 62.2 million (EUR 66.5 million in July-September 2024). Chain-wide revenue decreased by 6%. (*Detailed calculation formula on the interim report)
- Group revenue was EUR 35.5 million (EUR 44.9 million in July–September 2025). Revenue decreased by 21%.
- EBITDA was EUR 3.7 million (3.3).
- EBIT was EUR 1.2 million (1.1) and was 3.4% of revenue (2.5%).
- EUR 0.4 (0.4) million in personnel expenses related to severance payments and 0.6 (0.6) other one-time costs were recorded in the result.
- Earnings per share was EUR 0.01 (0.02).
- The actions taken on performance improvement programme resulted in improved profitability.
- The AI-assisted ERP system for Staffing Services is in use in all areas and industries; we have moved as planned from implementation phase to the further development phase.
- The implementation of the new organization announced in June and the new management model that puts our customers at the center of decision-making continued.
January–September 2025
- Chain-wide revenue*, which also includes the revenue of franchisees, was EUR 175.6 million (EUR 193.9 million in January-September 2024). Chain-wide revenue decreased by 9%. (*Detailed calculation formula on the interim report)
- Group revenue was EUR 105.4 million (EUR 132.1 million in January–September 2024). Revenue decreased by 20%.
- EBITDA was EUR 6.5 million (8.0).
- EBIT was EUR 0.4 million (2.2) and was 0.4% of revenue (1.7%).
- EUR 1.1 (0.8) million in personnel expenses related to severance payments and 1.0 (0.6) other one-time costs were recorded in the result.
- Earnings per share was EUR -0.07 (0.02).
- In April, the third phase of the performance improvement programme commenced. Several actions have since been completed, while others are still underway. The effects were visible in the improved development of profitability.
- Staffing services AI-assisted ERP system has been successfully implemented in use and further development continues.
- Eezy strengthened the franchisee entrepreneur network with Jyväskylä, Vaasa, and Kuopio offices and partial customer transfers in the retail sector in the early part of the year.
Outlook for 2025
Eezy does not give guidance for 2025.
Key figures (IFRS)
| EUR million, unless otherwise specified |
7–9/2025 | 7–9/2024 | 1–9/2025 | 1–9/2024 | 1–12/2024 |
| Revenue | 35.5 | 44.9 | 105.4 | 132.1 | 174.1 |
| EBITDA | 3.7 | 3.3 | 6.5 | 8.0 | 10.3 |
| EBITDA, % | 10.3% | 7.4% | 6.2% | 6.0% | 5.9% |
| EBIT | 1.2 | 1.1 | 0.4 | 2.2 | 2.3 |
| EBIT, % | 3.4% | 2.5% | 0.4% | 1.7% | 1.3% |
| EPS, basic, EUR | 0.01 | 0.02 | -0.07 | 0.02 | -0.01 |
| EPS, diluted, EUR | 0.01 | 0.02 | -0.07 | 0.02 | -0.01 |
| Net debt / EBITDA | - | - | 5.7 x | 5.0 x | 5.1 x |
| Chain-wide revenue | 62.2 | 66.5 | 175.6 | 193.9 | 257.4 |
Johan Westermarck, CEO:
“The market remained challenging in the third quarter, but we did a good job in customer relations and our chain-wide revenue development was slightly better than the market. The profit improvement program progressed as planned, which is reflected in our results. We are determinedly steering the company towards profitable growth.
The Group's revenue for the third quarter was EUR 35.5 million (44.9). The main reasons for the decline in Group revenue were the transfer of franchise entrepreneurs in Staffing services and subdued demand in a challenging market for both Staffing services and Professional services.
The Group's Staffing services revenue decreased by 22% in July-September in the Group units. Taking into The Group's revenue for the third quarter was EUR 35.5 million (44.9). The main reasons for the decline in Group revenue were the transfer of franchise entrepreneurs in Staffing services and subdued demand in a challenging market for both Staffing services and Professional services.
The Group's Staffing services revenue decreased by 22% in July-September in the Group units. Taking into account the revenue of franchise entrepreneurs, the revenue of the entire Staffing services chain decreased by 7% compared to the corresponding period last year. This development is slightly better than the market (HELA) performance.
Revenue in the industry and construction sectors continued to decline. The decline in revenue in the horeca and retail sectors is due to weak consumer demand caused by the poor employment situation. In the capital region, we continued to perform reasonably well compared to the market and other regions. Our new franchise entrepreneurs in Vaasa, Kuopio, and Jyväskylä have continued their good work in capturing market share.
Our unique AI-assisted operations management system has been in full use since June. We have moved from the implementation phase to the further development phase and the implementation of a new digital operating model as planned. In September, 67% of all shift orders were made directly by our customers in the system, and 50% of so-called quick shifts were filled automatically with the help of artificial intelligence.
Revenue from Professional services in the third quarter was EUR 4.7 million (5.4). The changes brought about by the TE reform continued to affect employment services in the form of lower training implementation, but the number of competitive tenders is now on the rise after a quiet spring. Demand for Consulting services and headhunting has been subdued in a challenging market. We were successful in selling transition security services and employee engagement surveys.
Both our EBIT of EUR 1.2 million (1.1) and our EBITDA of EUR 3.7 million (3.3) improved in the third quarter. The measures implemented as part of the profit improvement programs are reflected in lower fixed costs and improved profitability.
We are focusing on profitability improvement and growth
I started my job as CEO in mid-May. We have focused on sales and customer work, implementing the performance improvement program, and simplifying administrative work. We have brought stronger business representation to management team, we stay on top of sales every day, and we systematically implement agreed decisions in our daily work. We are now seeing the first signs that we are on the right track, even though change always takes time.
Eezy has a strong position in the staffing services market, which we believe will develop positively in the long term. We have strong customer satisfaction and a broad customer base in several industries, both nationally and locally. We have developed unique technology to serve our customers and employees quickly and flexibly, 24/7. Our customers consider our responsibility work to be excellent and trust us as a partner.
Eezy employees have done a good job despite the difficult situation. We will update our strategy as planned during the rest of the year and continue to build a healthy and profitable company and strengthen our position in the market.”
Result publication event:
A Finnish-language briefing for analysts and media will be held on 6 November 2025 at 13.00 Finnish time as a webcast at https://eezy.events.inderes.com/q3-2025
The briefing will be hosted by CEO Johan Westermarck. During the presentation, there will be an opportunity to ask questions. The presentation material will be available at the company website at https://eezy.fi/en/financials/reports-and-presentations/ before the conference. A recording of the audiocast will be available at the same website later.
Attachment: Quarterly Report January–September 2025 in PDF format
Further information:
Eezy Plc
Johan Westermarck
CEO
johan.westermarck@eezy.fi
tel. +358 50 339 7972