Meriaura Group Oyj, Inside information: Summa Defence expects the Group's revenue to be EUR 110–140 million and adjusted operating profit (EBITA) to be EUR 9–12 million in 2025

Meriaura Group Oyj
Company Release, Inside Information                21.2.2025 at 9.00 (CET)

Summa Defence expects the Group's revenue to be EUR 110–140 million and adjusted operating profit (EBITA) to be EUR 9–12 million in 2025

Meriaura Group Plc ("Meriaura Group") has on 29 January 2025 announced that it has signed a conditional share exchange agreement to acquire the entire share capital of Summa Defence Oy ("Summa Defence"), a group of defence and security companies (the "Transaction"). Meriaura Group has received information from Summa Defence about Summa Defence's guidance on the development of revenue and adjusted operating profit in 2025, confirmed and published by Summa Defence. Summa Defence Oy estimates that the Summa Defence Group's revenue for 2025 will be EUR 110−140 million and the adjusted operating profit (EBITA) will be EUR 9−12 million. Meriaura Group publishes guidance for Summa Defence Group as additional information related to the Transaction. Meriaura Group emphasises that it has not participated in the preparation of the guidelines published by Summa Defence or otherwise reviewed the information related to the guidelines or other figures announced by Summa Defence.

The estimate is based on Summa Defence's portfolio companies' confirmed order backlog of approximately EUR 200 million, which is partly already in production, on 21 February 2025. The defence sector and other public procurements account for approximately EUR 66 million of the order backlog.

Summa Defence's portfolio companies are Lännen Tractors, Aquamec, Uudenkaupungin Työvene, IntLog and Lightspace Technologies. The portfolio companies are intended to become subsidiaries of the Summa Defence Group through share exchanges approximately at the beginning of April 2025, as announced on 29 January 2025. The estimate of the development of revenue and adjusted operating profit is based on a forecast of the financial development of Summa Defence's continuing operations during the period 1.4.–31.12.2025 and the financial development of Meriaura Energy during the period 1.1.–31.12.2025. In order to achieve the estimated revenue growth and profitability level, the share exchange with Meriaura Group Plc announced on 29 January 2025 and the acquisitions related to the arrangement concerning the target companies are completed as planned.

The Summa Defence Group is seeking growth both organically and through acquisitions. The now published revenue and profit guidance does not include any potential mergers and acquisitions to be announced and implemented later in 2025.

According to preliminary unaudited figures, the combined pro forma revenue of Summa Defence and its future subsidiaries in 2024 was EUR 67.1 million and adjusted operating profit (EBITA) was EUR -9.7 million.

The press release published by Summa Defence regarding the guidance of the Summa Defence Group is included at the end of this company release as a separate section and is also available on Summa Defence's website at https://summadefence.fi/en/releases/.

The planned Transaction is conditional, among other things, on the decisions of the Annual General Meeting of Meriaura Group Plc concerning the approval of the transaction, the directed paid share issue, the directed share acquisition and other matters directly related to the Transaction that fall within the decision-making power of the Annual General Meeting.

Summa Defence Oy's press release 21 February 2025 at 9:00 a.m. (CET). Summa Defence estimates that the Group's revenue will be EUR 110–140 million and its adjusted operating profit (EBITA) will be EUR 9–12 million in 2025

Summa Defence Oy estimates that the revenue of Summa Defence Group will be EUR 110–140 million and EBITA at EUR 9–12 million in 2025. The estimate is based on the combined order backlog of approximately 200 million euros at the Group’s target companies on 21 February 2025. The order backlog is confirmed and partially already in production phase. The share of defence industry and other public procurements in the order backlog is approximately EUR 66 million.

The target companies of Summa Defence include Lännen Tractors, Aquamec, Uudenkaupungin työvene, IntLog and Lightspace Technologies. These companies are expected to become subsidiaries of Summa Defence Group tentatively in April 2025 in the execution of the share exchange transactions announced on January 29, 2025.

The revenue and EBITA estimate is based on the forecast of the continuing operations of Summa Defence in April 1 – December 31, 2025, as well as the forecast of Meriaura Energy’s business operations in January 1 – December 31, 2025. Achieving the estimated revenue growth and profitability level will require the completion of the share exchange with Meriaura Group Plc and the related transactions concerning the target companies, announced on January 29, 2025.

The Summa Defence Group seeks growth both organically and through acquisitions. The revenue and EBITA estimates announced today do not include possible corporate acquisitions to be communicated and executed later in 2025.

According to preliminary unaudited figures, the combined pro forma revenue of Summa Defence and its future subsidiaries in 2024 was EUR 67.1 million and EBITA EUR -9.7 million.

“We expect rapid growth in revenue and profitability for Summa Defence Group in 2025. The confirmed order backlog of approximately EUR 200 million provides a solid foundation for our growth. The reasons for the highly positive development of our order book are the successful sales work in the target companies, the market growth caused by geopolitical instability, as well as the financing provided by Summa Defence to its target companies, which has enabled business scaling and sales growth. Our target companies possess tremendous expertise and potential, which they can now fully leverage with the support of Summa Defence,” says Jussi Holopainen, CEO, Summa Defence.

Summa Defence’s medium-term goal is to achieve revenue of EUR 500 million.

Summa Defence Oy and Meriaura Group Plc announced on January 29, 2025, that they will merge through share exchange to form a new group of companies in the defence sector. Following the completion of the share exchange, Summa Defence Plc will provide financial guidance for 2025.

More information:

Meriaura Group Oyj
CEO Jussi Mälkiä
Tel: +358 400 785 489
Email: jussi.malkia@meriaura.com

Summa Defence Oy
CEO Jussi Holopainen
Tel: +358 44 517 4543
Email: jussi.holopainen@summadefence.com

Meriaura Group Plc discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, ”MAR”). The information was submitted for publication by the aforementioned person on 21 February 2025 at 9.00 a.m. (CET).

Meriaura Group in brief

Meriaura Group has two business areas: Marine Logistics and Renewable Energy.

Marine Logistics business is carried out by Meriaura Ltd, which is a major provider of transport for bulk cargo and demanding project deliveries in Northern Europe, especially in the Baltic Sea and North Sea regions. The company provides its customers with competitive and low-emission marine transport services, based on long-term affreightment agreements, modern fleet, and active development of its operational sustainability. In addition, Meriaura has a strong market position in the marine logistics in renewable energy construction projects.

The Marine Logistics business also includes VG-EcoFuel Ltd which produces biofuels from bio-oils and recycled oils generated as industrial by-products.

The Renewable Energy business focuses on comprehensive clean energy systems. Meriaura Energy Ltd designs and delivers clean energy production systems as comprehensive deliveries for industrial use and district heating. The energy production is based on large-scale solar thermal systems implemented using high-performance solar thermal collectors manufactured by the company. The Renewable Energy business also includes Rasol Ltd, specialised in delivering high-quality solar power systems for real estates, companies and solar parks.

Meriaura Group’s share is listed on Nasdaq First North Growth Market Sweden as MERIS and on Nasdaq First North Growth Market Finland as MERIH.

www.meriauragroup.com

The Company’s Certified Adviser is Augment Partners AB, info@augment.se, tel. +46 8-604 22 55.