The change is due to the retirement of the current CEO, so the change is not at all surprising.

Solwers had already released a profit warning for Q4 2024 and the full year on 1 February. Q4 EBIT was EUR 0.3m, burdened by changes in conditional purchasing prices, writedowns on doubtful receivables and preparation costs for the possible listing change...

Solwers’ Q4 sales of EUR 21.7m were fairly in line with our estimate of EUR 22.1m. EBIT of EUR 0.3m fell significantly below our estimate of EUR 1.2m, although we note that our estimates have not been updated after the profit warning of 1 February, which...

The compensation claim made against Finnmap Infra is based on an alleged breach of contract. In our view, such disagreements and disputes are somewhat common, but we note that the total amount of the claim is significant relative to Solwers' current earnings and cash flow level. In Kreate's size class, the amount is moderate.

Solwers published a profit warning on Saturday 1 February, stating that Q4 2024 EBIT is close to zero compared to EUR 1.5m a year ago and our estimate of EUR 1.2m. The EBIT for 2024 will thus be ~EUR 2.5m versus EUR 4.8m in 2023 and 33% below our estimate...

According to preliminary data released by Solwers on Saturday, the company's final quarter of 2024 has been weak earnings-wise. We believe some of the factors behind this weak development are related to a rather weak operating environment and, therefore, probably temporary. On the other hand, recent economic news flow does not support expectations of a rapid recovery in market activity.