Auroora Yhtiöt Oyj – Half-year report H1/2025: Continued revenue growth through acquisitions
Continuous growth and determined implementation of strategy
In the first half of 2025, Auroora continued its strong growth path supported by both acquisitions and organic development. Our revenue grew by 31.7 percent to 89.2 million euros in January–June. In the second quarter, our revenue grew by 42.0 percent, and organic growth was 5.6 percent. Our 12-month (LTM Pro-forma) revenue grew by 25 percent to 190 million euros.
The order and contract backlog of Auroora’s companies strengthened and was 145 million euros at the end of the review period, creating a good foundation for development in the latter part of the year.
Revenue and cash flow at a strong level
In the first half of the year, revenue was close to targets, but adjusted EBITA was 4.2% of revenue and below target. The challenging markets for industrial maintenance and the timing of revenue recognition for some projects created pressure on results. Profitability during the review period was also burdened by costs related to acquisitions and the determined development of group operations.
Operating cash flow remained strong, with a 12-month (LTM) accumulation of 17.1 million euros, despite seasonal growth in working capital during the spring. Seasonal fluctuations are normal and do not affect long-term performance.
In the second quarter, there were signs of improvement in market conditions, and the demand situation has gradually improved in all group companies. The growth in the order and contract backlog supports short-term development, although the operating environment in some segments remains partly challenging.
Strategic growth continues – new companies supporting development
In the first half of the year, we continued the systematic implementation of our strategy by acquiring three high-quality companies to complement our existing business areas. The business of Pur-ait Oy was acquired in January as part of the Industrial Products and Services segment, and in March, we acquired the entire share capital of BTB Transformers Ab for the Electrification and Automation segment. In June, Telatek Service Oy, part of Auroora, acquired the entire share capital of Alu-Releco Oy, thus strengthening its expertise in specialized maintenance within the Industrial Products and Services segment.
We also continued the implementation of the AI leadership development program we launched in 2024, aimed at improving the AI capabilities of all Auroora companies.
“We are well-positioned to continue profitable growth both organically and through new acquisitions. Our focus on long-term ownership and a decentralized business model provides a good foundation to face market fluctuations and achieve our long-term goals,” says Antti Rauhala, CEO of Auroora Group.
Key figures (IFRS)
| EUR million | 1–6/2025 | 1–6/2024 | Change % | 2024 |
|---|---|---|---|---|
| Revenue | 89.2 | 67.8 | 32 % | 142.6 |
| Adjusted EBITDA | 6.1 | 5.7 | 7 % | 12.5 |
| – % of revenue | 6.8 % | 8.4 % | 8.8 % | |
| Adjusted EBITA | 3.8 | 5.7 | -34 % | 9.0 |
| – % of revenue | 4.2 % | 8.4 % | 6.3 % | |
| Adjusted operating profit | 1.1 | 2.5 | -56 % | 4.9 |
| – % of revenue | 1.2 % | 3.7 % | 3.4 % |
Key figures LTM Pro-forma (IFRS)*
| EUR million | 7/2024–6/2025 | 7/2023–6/2024 | Change % | 2024 |
|---|---|---|---|---|
| Revenue, LTM | 190.1 | 151.8 | 25 % | 159.8 |
| Adjusted EBITDA, LTM | 15.7 | 14.7 | 7 % | 16.3 |
| – % of revenue | 8.3 % | 9.7 % | 10.2% | |
| Adjusted EBITA, LTM | 10.9 | 11.0 | -1 % | 11.9 |
| – % of revenue | 5.7 % | 7.2 % | 7.4 % |
*LTM Pro-forma (Last Twelve Months) includes acquired businesses as if they had been owned for 12 months at the reporting date.
Further information:
Antti Rauhala, CEO, Auroora Yhtiöt Oyj
Tel. +358 40 549 0080
antti.rauhala@auroora.com
Auroora Yhtiöt
Auroora Yhtiöt Oyj is a Finnish serial acquirer, comprising over 20 SMEs employing approximately 700 people. In 2024, the company’s revenue amounted to €143 million. Auroora grows through three business segments focusing on sustainable value creation and responsible solutions: Electrification and Automation, Clean Water and Environmental Technology, and Industrial Products and Services. Auroora is a long-term owner that retains its subsidiaries permanently, providing a platform for their growth.