contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Fondia operates in the legal sector. The company offers business legal services and ongoing management of legal matters. The company has expertise in corporate agreements, personnel matters, confidentiality and competition law. Fondia has operations concentrated on the Nordic market with clients in various industries. The head office is located in Helsinki.

Here are Juha’s comments on Fondia’s management team expansion.                    Inderes              Fondian johtoryhmä laajenee - Inderes    Fondia tiedotti aamulla vahvistavansa johtoryhmäänsä. Kaupalliseksi johtajaksi (CCO) on nimitetty Aleksi Lundén ja henkilöstöstä ja yrityskulttuurista vastaavaksi johtajaksi (CPO) Teea Lyytikäinen. Molemmat aloittavat konsernin johtoryhmän jäseninä...

Mikael interviewed Juha from Fondia regarding a comprehensive report.                    Inderes              Fondia: Avainasemassa laskutusasteiden nosto - Inderes    Aika: 15.12.2025 klo 17.00 Fondia käynnisti vuosi sitten laajan muutosprosessin heikon kehityksen kääntämiseksi. Avainasemassa on laskutusasteiden nosto kannattavuusparannuksen aikaansaamiseksi. Käännettä on odoteltu ennenkin, jonka vuoksi...                             Topics: 00:00 Introduction  00:11 How does Fondia differ from traditional players?  01:29 Digital working environment between lawyers and clients  03:37 Competitive advantages of the LDaaS service  05:50 Background to Fondia’s challenges  08:02 Actions taken and turnaround in results  11:12 Turnaround reflected in figures  13:15 Role of international business operations  16:54 Artificial intelligence, threat or opportunity  21:52 Upside in valuation

Morning! A new comprehensive report on Fondia is now available:                   Inderes              Fondia laaja raportti: Yritysjuridiikan jatkuvien palveluiden ykkönen - Inderes    Murrosvaiheessa olevan Fondian tuloskäänne on vasta alussa, mutta historiasta poiketen vahvoja toimenpiteitä on tehty ja strategisissa hankkeissa onnistuminen tarkoittaisi merkittävää tulosparannusta. Tämä tukee luottamusta myös lopputuloksen...                             Here are a few brief comments regarding the comprehensive report:  In the title, I already tried to highlight Fondia’s difference from traditional law firms. On the other hand, also that even though the company is small and its development has been subdued, it is still the largest in Finland in its core area of continuous corporate legal services – at least according to our estimate. Of course, this is partly a matter of definition, but in my opinion, Fondia has a clear place in the market and a good position there. In the report, I outlined Fondia’s billing rates, and they were indeed low. These are always tricky, as in the industry, the actual weekly hours worked by employees are something other than what is legally reported to the Regional State Administrative Agency (AVI), but still. This, in my opinion, well illustrates the significance of this matter, so let’s take a quote from the report: “We forecast the billing rate to increase by approximately 5 percentage points by 2027, which would mean an additional annual revenue of EUR 1.2 million. Even if Fondia paid one-third of this as bonuses to lawyers, this would improve operating profit by approximately EUR 0.8 million. This would be a significant improvement for Fondia, whose adjusted operating profit is ~EUR 1.5 million (2025e).” Currently, the billing rate is about 60% using the same calculation method. More in the Forecasts section. I also tried to make more comparisons to relevant companies in the industry and, to some extent, reduce comparisons to other expert service companies on the Helsinki Stock Exchange (though there are still some). These have such different cost structures that I may have criticized Fondia’s fixed cost level too much. But there’s no denying that they are too high in relation to current revenue. AI will reshape the industry and has already done so, but lawyers’ jobs are not disappearing. The work will certainly change its form, but Fondia is, in my opinion, very well positioned for this. It’s difficult to say anything about the upcoming disruption, but I would argue that the keys to success or failure are still in their own hands. The recommendation change was based purely on the share price increase (+8% since the previous update), which reduced the upside potential to slightly below 20%. I also updated the forecasts for the coming years, and the changes were negative. These are discussed on a separate page, as I always try to keep the comprehensive report as intact as possible, and changes in focus during updates can be disruptive. The decline in forecasts is more due to the fact that changes always take more time in the real world than in Excel, and on the other hand, in 2026, the focus will clearly shift to revenue growth. The view on earnings potential has not changed per se, but the path will take longer than I previously predicted. The earnings warning risk is clear; profitability improvement will certainly be tight. A negative earnings warning would be very unpleasant at the very beginning of this turnaround, but on the other hand, in Q4’25, I estimate a decent result will be achieved, significantly improving from the comparison period. It’s a bit of a question of what horizon one looks at things, but a negative warning is never a good thing. The valuation is still affordable, but it’s clear that earnings development needs to be turned around. A so-called negative spiral is always poison in expert companies, but it has, to my understanding, been stopped. On the other hand, we cannot yet speak of a positive spiral, and that requires turning revenue to growth. Fondia has a truly capital-efficient business model and negative net working capital, through which revenue growth generates cash flow (whereas it would usually tie it up). This is a big strength if growth can be achieved.  These were the first things that came to mind from the research process. An interesting case, especially for me, as small, somewhat technology-driven expert companies are “close to my heart.” But please read the report and let me know what you think.

Good discussion on the forum once again, concerning both traditional law firms and Fondia. Compared to traditional “Espoo offices,” we at Fondia have a different focus from both the client and lawyer perspectives. As Fondia’s CEO, I am, of course, subjective, but I cannot agree with the idea that it would be difficult for us to compete with top firms. Our aim is not to engage in such head-to-head competition, but rather to find our own niche in the market. From the clients’ perspective, our unique niche is most clearly found in continuously billed services (approximately 75% of Fondia’s revenue comes from our continuous client relationships), our lawyers with an average of 17 years of work experience (our experience pyramid is very different from traditional firms), and the utilization of Legal Tech (e.g., MyFondia’s functionalities for creating Legal Reviews and Legal Plans, which are at the core of our proactive legal services). For employees, our different value proposition lies in the fact that we can offer a distinct lawyer role, which is something between a traditional external expert and an in-house lawyer. Our goal is to combine the best aspects of these job descriptions. I personally (subjectively) find our employer brand quite attractive when we aim to attract people with this focus. We have successfully recruited good professionals for our open positions. I believe that the larger transformation trends in our industry favor modern legal service companies like Fondia. In this regard, I am following the discussion in Sweden with great interest. In August, PE investor Axcel acquired six traditional law firms in Sweden, employing a total of over 250 people. Since only lawyers can own law firms, the lawyers of these six firms resigned from the local bar association and now operate outside the bar association, similar to Fondia. This led to the creation of AGRD Partners, which in terms of size corresponds to Fondia in the Swedish market, meaning it belongs to the TOP10 legal firms and is the largest non-law firm on the list. Fondia and AGRD Partners have a lot in common. The possibility of having non-lawyers as owners and on the board, investing differently in Legal Tech, etc. The most significant differentiating factor is that AGRD Partners is owned by a Private Equity investor, while Fondia is publicly listed on First North. Behind the accompanying link (and likely a paywall) you’ll find Fondia’s fresh perspective on the interesting discussion currently taking place in Sweden. I’m eagerly awaiting to see what happens when, as a Finn, I try to advise Swedish lawyers in the article…                    Dagens Juridik – 21 Nov 25              Fondias vd: Det är bra för alla att AGRD utmanar marknaden    Fondias vd Timo Lappi ser likheter mellan byråsammanslutningen AGRD och hans egen byrås födelse i Finland för 20 år sedan. Han själv lämnade advokatsamfundet för att kunna skapa en ny sorts byrå. – Fondia fick inte så mycket kritik i offentligheten i...                             What are your thoughts here on the forum? Will we see more modern legal service companies operating outside the bar association in Finland in the future?

Changes in the management team, these Fondia people have great names, perhaps even the CEO could change their name to at least a Lappland-style name  : Muutos Fondian johtoryhmässä: Victoria Swedjemark nimitetty Ruotsin-toimitusjohtajaksi, Emma Ridderstad uusiin tehtäviin Fondialla | Kauppalehti The CEO of Fondia Oyj’s Swedish subsidiary is changing. Victoria Swedjemark has been appointed CEO of Fondia Oyj’s Swedish subsidiary and a member of the group’s management team. She will start her position no later than March 2, 2026. Until then, the group’s CEO, Timo Lappi, will serve as the interim CEO of the Swedish subsidiary. Emma Ridderstad, the current CEO of the Swedish company, will leave the group’s management team as of today and will transition to become the Commercial Director of Fondia’s new internal innovation platform, Lextopia.

Link to the interview  There’s an interview with Fondia’s Timppa there.  Thanks to Timo - and happy reading to others!

In my opinion, it is difficult for Fondia to compete in corporate law with top-tier firms (C&S, Roschier, etc.) - Clients are willing to buy hours from these firms at a price of 400-700 euros, and these firms hardly need to present or sell their services. In my experience, Fondia is perhaps one of the most active in new client acquisition, at least in Helsinki. My understanding is that their employer brand is not nearly as attractive as with the aforementioned firms, and having spoken to half a dozen partners from large firms, the impression I get between the lines is that Fondia is not really considered a “serious” competitor. It’s probably a good place to work for those in lower-midtier & midtier if they don’t have the same passion to work long weeks/days when crunch time is on. However, I believe that in certain types of operations and in smaller-scale contract negotiations, Fondia can be a sufficiently good partner.

Fondia

Fondia PlcCompany release25.9.2024 at 6.45 p.m. EESTFondia - Acquisition of own shares 25.9.2024 Fondia Plc First North Finland Date 25.9.2024 Exchange transactions Buy Share class FONDIA Amount...

Fondia PlcCompany release25.9.2024 at 6.45 p.m. EESTFondia - Acquisition of own shares 25.9.2024 Fondia Plc First North Finland Date 25.9.2024 Exchange transactions Buy Share class FONDIA Amount, shares 545 Average price/share, EUR 6,564037 Total price, EUR 3577,40The shares held by Fondia Plc on 25.9.2024: 191 591 sharesOn behalf of Fondia PlcOP Corporate BankFondia in briefFondia solves the legal needs of companies by combining the best services from internal legal departments and law firms. Fondia operates in Finland, Sweden, Estonia, and Lithuania, and the Group's net sales in 2023 were EUR 26.1 million. Fondia employs around 190 people.www.fondia.comDistribution:Nasdaq Helsinki LtdKey media