The guys at Proprius apparently took a position in Digia in December:
I wonder if they have positions in other IT service sector companies?
Edit: answering my own question, they have one in Gofore at least.
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Hello and a Happy New Year on behalf of Digia’s IR!
Digia’s 2025 financial statements bulletin will be released on Thursday, 5 February at 15.00. Our CEO Timo Levoranta will present the results in a webcast at 18.00. You can follow the broadcast via the link below, and you can also submit questions to Timo during the presentation: Tilinpäätöstiedote 2025
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For the Q3 earnings season, yours truly had 7 companies reporting on the same day… Because of this, I had to produce more concise reports to get them all out 
Normally, of course, there should always be a more comprehensive valuation page in these earnings updates!
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A fresh company report from Joni ahead of Q4.
Joni raised his forecasts since no profit warning was issued and now expects an adjusted EPS of €0.66 for this year. The fair value range was simultaneously raised from €7.2–€8.8 → €7.8–€8.8. The changes were logical, but the target price was illogically left the same at €7.2 even though the aforementioned items were adjusted upwards 
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Hi,
Good catch and I’ll put my hand up to acknowledge the error. The correct range is, of course, still 7.2–8.8 euros per share.
I also added a note to the digital version: “Note: The fair value range was incorrect and corrected at 9:30 AM.”
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And just like that, Digia’s earnings live stream can be followed on InderesTV tomorrow, Thursday, at 14:55.
Link:
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Strong performance continued in the fourth quarter: net sales grew by 10.5% and EBITA margin improved significantly to 14.1%
October–December 2025
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Net sales EUR 60.2 (54.5) million, up 10.5%
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EBITA EUR 8.5 (5.8) million, up 45.5%; EBITA margin 14.1% (10.7%) of net sales
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Operating profit (EBIT) EUR 7.7 (5.2) million, up 48.1%; operating margin 12.7% (9.5%) of net sales
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Earnings per share EUR 0.20 (0.15)
January–December 2025
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Net sales EUR 217.0 (205.7) million, up 5.5%
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EBITA EUR 21.3 (21.2) million, up 0.8%; EBITA margin 9.8% (10.3%) of net sales
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Operating profit (EBIT) EUR 18.1 (18.2) million, down 0.4%; operating margin 8.4% (8.9%) of net sales
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Earnings per share EUR 0.49 (0.50)
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Cash flow from operations EUR 14.7 (25.0) million, down 41.2%
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Return on investment 14.4% (16.6%)
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Equity ratio 48.7% (52.9%)
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The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.19 (0.18) per share be paid for the 2025 financial year
Unless otherwise stated, the comparison figures in brackets refer to the corresponding period of the previous year.
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Digia Plc’s Board of Directors has confirmed the company’s strategy and long-term targets for the years 2026–2028. During the 2026–2028 strategy period, our goal is to expand into a trusted European partner for intelligent business, both organically and through acquisitions. We are a profitable growth company with ten consecutive years of profitable growth behind us – our foundation is strong.
Market Vision
The ongoing transformation in digitalisation is the comprehensive utilisation of artificial intelligence. It is not just about individual technologies, but an integrated whole.
A significant change is underway, requiring a new perspective on how corporate business and public sector operations are conducted. In this transformation, AI merges into every service, process, and people’s daily lives. We are moving from point solutions towards AI-driven autonomous solutions and processes.
Our Mission
We are a trusted European partner for intelligent business, bringing the benefits of AI to our customers’ everyday processes, products, and services throughout their entire lifecycle. We help our customers in both the private and public sectors with business construction, operation, and continuous development. We lead by example and set the direction.
The Foundation of Profitable Growth
Our competitiveness is based on Digia’s core strengths:
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Expertise: Skilled personnel, a modern work community, a culture of learning, and a partner network.
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Deep customer relationships and a resilient business model: A reliable and close partner throughout the service lifecycle. A significant share of continuous service business.
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Broad offering and end-to-end solutions: Services and products ranging from consulting to data, AI, integrated systems, and continuous 24/7 service production. The capability to implement security-critical solutions and large-scale, demanding projects internationally.
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Strong financial position: Profitability, financial stability, and resources for acquisitions.
The Core of Strategy Execution
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Competence: We renew ourselves in line with market needs and the requirements of intelligent business.
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Scalable services and solutions: We productise intelligent, scalable solutions and services.
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AI solutions and autonomous services: We implement intelligent solutions and services for our customers that utilise automation and AI. We lead by example in the use of these solutions.
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International expansion: We will grow into a European trendsetter in intelligent business by leveraging the resources of the entire Group.
The main stages of strategy execution are: 2026 – Renew, 2027 – Grow, 2028 – Scale. At the beginning of the strategy period, the focus will be on investments in services and productisation, as well as the renewal of our own operations. On this foundation, we will build accelerating growth and scalable business.
Acquisitions are a part of the strategy execution.
Digia’s Value to Customers
We provide value to our customers by managing the entire lifecycle of intelligent solutions, products, and services – from consulting to construction, operation, and continuous development. We support our customers’ competitive advantage by combining industry expertise, modern technology platforms, and AI into a secure, seamless whole.
We assist our customers in the following areas:
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Digital services and consulting
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Data, AI, integrations, and APIs
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Business platforms and business process automation
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Continuous services and a 24/7 Business Operations Center
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Implementation of critical solutions, including for the defence and security sectors
Targets for the Strategy Period 2026–2028
In addition to the Finnish market, we will grow in Europe. We are expanding into Europe with integration and API solutions, as well as data and AI solutions, which are at the core of intelligent business. Our target customers are in both the private and public sectors.
We build sustainable growth for our business in balance with people and the environment. We want to develop a low-carbon and environmentally conscious value chain. We continue to strengthen our skilled, healthy, and diverse work community. We are a secure and reliable partner for our customers.
Financial targets:
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Revenue growth: more than 10% per annum on average, including organic and inorganic growth
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EBITA margin: over 12% of revenue at the end of the strategy period
International business target:
- 30% of revenue at the end of the strategy period will come from outside Finland
Digia Strategy 2026–2028: Rethink intelligent business
Digia is a trusted European partner for intelligent business, bringing the benefits of AI to our customers’ everyday processes, products, and services throughout their entire lifecycle. Digia’s customers are in both the private and public sectors. Unlock your intelligence.
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Digia is a conservative provider of guidance, but doesn’t that EBITA at the same level or growing sound quite modest compared to Joni’s forecasts:
In 2025, they eventually reached €21.3 million. At the same time, it should be noted that this year’s guidance was not conservative in that respect.
What measures will the 2026 “RENEW” (UUDISTA) also include?
A strong quarter regardless, as I was personally expecting a profit warning for the end of the year. Appetite just grows with eating 
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Digia delivered consistently solid performance throughout H2 and a fairly strong result for this market—no doubt about it. While waiting for Timo’s comments, it should be noted that the company has a growth-oriented strategy in international markets, with last year’s Savangard deal at a bargain price serving as an excellent and successful example. We can expect more of these from the company.
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Digia has previously demonstrated its ability to successfully achieve inorganic growth through acquisitions. By the end of the strategy period, the company aims to have 30% of its revenue coming from outside Finland. This sounds very positive.
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Many consider Digia a boring stock. In a positive way, it is, as the company generates over 50% of its revenue from recurring business (service and maintenance operations). This, if anything, is “nicely boring.” Alongside this, the company grows year after year in terms of both revenue and profit. Do you really need anything else? Anyone who can read can see the stock is undervalued.
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Juho Toratti has written about Digia following the Q4 results. 
Digia’s Q4 result was once again a strong performance in a challenging market. Today, the company also published its updated strategy for 2026-2028, according to which it aims even more strongly for the European market.
IR Tracking is a channel for the corporate partners of SalkunRakentaja and Sijoittaja.fi for background and analytical articles, as well as other interesting investor information. The article is part of a commercial collaboration with the company. The article does not contain investment recommendations.
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Here is the CEO interview as well 
Dinner bets were also kicked off
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Hi everyone!
Great to see again that the latest releases and analyses have already been found here. If you are still interested in the CEO’s comments, we had a webcast yesterday, the recording of which you can find here: Tilinpäätöstiedote 2025
Yesterday, the notice of the Annual General Meeting was also published, and registration for the meeting on 24 March is now open 
Yhtiökokous 2026 .
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Hi Essi,
Congratulations on the great Q4 results. Is there a specific reason why Digia always publishes its reports in the middle of the trading day instead of in the morning before the market opens?
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Here is a new company report on Digia from Joni.
We are raising our target price for the stock to EUR 7.5 (previously EUR 7.2) and our recommendation to Buy (previously Accumulate). Digia’s past year and especially Q4 were good in light of the figures, particularly when considering the market headwinds. The company’s guidance was slightly cautious, which is likely explained by front-loaded investments in the new strategy period. However, the company’s strategy execution has been solid for 10 years already, which increases confidence in the continuation of good execution. The stock’s valuation (2026e P/E 10x and EV/EBIT 8x) is very attractive, especially considering the confidence in its earnings power, low risk profile, and a large share of recurring business.
Quoted from the report:
The main phases of the strategy execution are: 2026 – Renew, 2027 – Grow, 2028 – Scale. At the beginning of the strategy period, the emphasis is on service and productization investments, as well as renewing internal operations, which is also indicated by the cautious guidance for 2026. The following years will then be a time for growth and scalable business. The company will very likely accelerate its strategy execution and growth through acquisitions, as it has over the past 10 years.
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Hi!
Our publication schedules are primarily influenced by committee and Board meeting schedules (as is likely the case for other companies as well). In practice, if a Board meeting takes place in the morning, we publish the earnings release on the same day, which means the publication time falls precisely in the afternoon.
We do, of course, have morning releases occasionally; for example, the Q1 business review will be published on April 29th at 8:00 am.
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I would be interested to know if Digia has considered the geopolitical risks in particular related to its Microsoft dependency? And do fellow investors and analysts think these risks should be taken into account in the target price?
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Hi, Timo touches on the topic in the interview with Joni, starting from 03:46: Digia Q4'25: Hyvä tulos - Inderes
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SOK continues its strategic partnership with Digia – acquires integrations as a managed service
The extensive cooperation will continue with a significant agreement valid until further notice. SOK will receive the entire lifecycle of integrations as a managed service, from development to 24/7 continuous services.
In the cooperation, SOK’s integration architecture and services will be modernized to meet the group’s strategic goals. In addition, operating and service models as well as processes have been optimized to meet efficiency requirements.
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I was just about to link that latest news
This refers to the agreement already mentioned in the financial statement release, for which more detailed information is now being provided in the form of a press release.
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