Highlights of the year

Solteq’s strategy 2016–2019

Our goal is to reach a new size category by focusing on solutions that improve commerce and help our clients increase their revenues and enhance their competitiveness in globalisation and digitalisation of commerce. We will expand internationally in the Nordic countries and with our global clients. In Finland we grow by increasing our digital commerce offering.


Retail solutions for Musti ja Mirri in the Nordics

In line with our strategy, we will focus on the digitalisation of the backend systems of dynamic mid-market retailers in the Nordic countries. The framework agreement that we signed with Musti ja Mirri Group Ltd on the delivery of a retail business solution in Finland, Sweden and Norway is an example of a customer project that complies with the new strategy.

Highlights of the year 2016 Solteq

Acquisition of Aponsa AB to strengthen the foothold in the Swedish market

Solteq took a significant step forward in its Nordic growth strategy when it purchased Aponsa AB’s entire share capital in October 2016. The company acquisition significantly increased Solteq’s knowledge of LS Retail technology and the retail business in Sweden.

After the acquisition of Aponsa AB, Solteq had about 30 digital commerce experts in Sweden. The deal was a win-win arrangement for both the parties. Solteq strengthened its presence in the Swedish market and Aponsa its ability to digitalise Swedish retail business. The shared goal is to conquer the Nordic digital commerce market.


Growth investment in Nordic omnichannel commerce – high-end solutions available also for mid-market clients

Solteq’s omincommerce expertise is among the strongest in the Nordic countries. It has, however, been at its best with large and global customers. Similar top-class partners have not been available to mid-market businesses.

In October 2016, Solteq decided to make a growth investment by establishing a Magento competence center. An online store based on the Magento platform combined with Solteq’s other solutions will enable even mid-market clients to provide a uniform customer experience in different channels – brick and mortar, online and mobile.


Niche acquisition to boost growth investment in omnichannel – Solteq acquired Pardco Group Oy

In October 2016, Solteq made a growth investment in Nordic omnicommerce business. To boost the investment Pardco Group Ltd, a company specialising in the development and maintenance of online stores based on the Magento platform, was acquired. The deal was concluded in December 2016.

The company acquisition increased the number of personnel in the Magento competence center to 15. Solteq finds the new-born synergy of eCommerce and digital marketing especially fruitful and beneficial for mid-market players. On the other hand, the Magento technology experts enjoy new projects and more versatile career paths.

Key figures:

2016 2015 Change %
Revenue (TEUR) 63 049 54 215 + 16,3 %
Operating profit (TEUR) 6 444 1 288 + 400,3 %
Adjusted operating result (TEUR) 3 114 2 990 + 4,1 %
Result for the financial year (TEUR) 4 612 102 + 4 421,6 %
Earnings per share (EUR) 0,26 0,01 + 2 500,0 %
Operating profit (%) 10,2 2,4
Adjusted operating profit (%) 4,9 5,5
Equity ratio (%) 33,5 24,4
Number of personnel, average 454 391 + 16,1 %


Revenue 2016 Solteq

Operating profit 2016 Solteq

Adjusted operating profit 2016 Solteq

Number of personnel 2016 Solteq

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Annual Report 2016

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