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Siili Solutions: New strategy strengthens position in AI-powered digital development and in AI solutions  

Siili Solutions Plc Stock exchange release 13 August 2024 at 8:40 EEST

Siili Solutions Plc renews its strategy, placing AI at its core. Going forward Siili has three strategic priorities that strengthen the company's position as a leader in leveraging AI:

• Significant growth in Data and AI business: We expand our business in the growing market of data and generative AI, aiming to be the preferred partner for customers in the GenAI transformation.

• Pioneer in AI-powered digital development: We reinforce our position as a pioneer in AI across the entire software development lifecycle, from design to implementation and maintenance. For Siili's customers, this means faster development cycles, and for Siili, improved productivity.

• Community of top talent: We strengthen our strong corporate culture and continuous learning opportunities. Our goal is to be the most desirable community among digital development professionals.

Siili's competitive advantage is its ability to combine strong software development, AI, and industry expertise. This unique combination makes Siili a pioneer in utilizing and developing AI solutions and strengthening customers' competitiveness.

Siili continues to focus on large enterprises and the public sector in Finland, the UK, Germany, and the Netherlands. Siili strengthens its delivery capabilities by expanding its skill base both in Finland and Eastern Europe, for example in Poland and Hungary.

"Siili enables new business for its customers with data and AI-based solutions. AI-powered software development accelerates our customers' product and service development cycles and strengthens our competitiveness. We invest in our personnel's skills and in recruiting top talent. As AI handles routine tasks, our professionals can focus on developing more demanding customer solutions. The renewal of our strategy emphasizes our commitment to being at the forefront of development," says Tomi Pienimäki, CEO of Siili Solutions.   

Siili's financial targets for 2024–2026 remain unchanged:

• Annual revenue growth of 20 percent, of which organic growth accounts for about half. From 2023 onwards, organic revenue growth will be calculated based on comparable revenue, reflecting changes in the corporate structure.

• EBITA 12 percent of revenue. Operating profit before amortisation and impairment for fair value adjustments on acquisitions.

• The aim is to keep the ratio of net debt-to-EBITDA below two.

• The aim is to pay a dividend corresponding to 30–70 percent of net profit annually.