Inderes’ revenue grew sluggishly by only one percent in January–February, which was in line with guidance as growth was stated to be weighted towards the end of the year:
“The year has started in line with our expectations. Recurring revenue growth has been at a good level, driven by the software business. The number of IR events in January–February was, as expected, at a lower level than in the comparison period, which contributed to the decline in project revenue. The activation of the IPO market is visible in new projects, but market uncertainty may affect the execution of these projects.”
Inderesin liikevaihto kasvoi 1 prosentin tammi–helmikuussa 2026
However, SEB expected 200k more in revenue for these two months.
17 Likes
SEB’s comments on the January-February revenue report:
Inderes just came out with its sales data for January and February. Sales grew 1% while we had input growth of 3%. Importantly recurring revenue continues to grow while fewer IR-events vs. the previous year caused the minor negative delta. We note that the IR events have certain volatility month-to-month and year-to-year and hence we call the year start performance broadly in line. Our read is neutral.
8 Likes
Based on what I’ve researched regarding the spring AGM notices, it looks like Inderes has gained more market share from Euroclear in AGM services. Two large companies, for example, are Nordea and Nokia. One could therefore imagine this being reflected as growing revenue for the spring.
Innovatics, which is also involved in the AGMs organized by Inderes, seems to be a subcontractor providing at least the actual registration service. Likely, some subcontractor is also on-site distributing voting slips, as Inderes staff haven’t been seen doing this.
Does Inderes then only provide the actual software for online and hybrid meetings, for example? What about traditional meetings?
17 Likes
I actually think I’ve noticed e.g. @Yu_Gong and @Sara_Antonacci distributing ballots as well. Maybe next I’ll see @Verneri_Pulkkinen pouring coffee for the meeting delegates during the coffee break
.
26 Likes
Inderes provides a remote participation platform for virtual/hybrid meetings, and the same software is also used for unofficial webcast viewing of traditional meetings. Additionally, we support the client before the meeting (e.g., drafting materials, registrations, and advance voting), and the service is indeed implemented in cooperation with our partner Innovatics. Many clients utilize our resources for tasks at the meeting venue, which is why you can see the likes of me and Yu, for example, handing out those voting ballots. 
So, we have an extensive service offering for AGMs, and if the client wishes, they can get the AGM service, production, and design all under one roof. 
39 Likes
Sounds good, and it’s clearly a working model as more companies year after year are turning to Inderes’ services for their general meetings as well. 
Are there any plans to also develop your own registration service, so that you could manage without Innovatics and everything would run on Inderes’ services?
8 Likes
@StudentCoverage_2026 has written comments on Inderes’ start of the year 
7 Likes
