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
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      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
    }
  }
}


administer-kopeavtal-for-sarastias-affarsverksamhet-gallande-valfardskunder-har-undertecknats

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Atte Riikola

Administer Group is a Finnish company that offers financial and payroll services, consulting and software services, staffing and recruitment services, and compliance and advisory services. The company's customers are found in both small and medium-sized enterprises, as well as municipalities. Administer was founded in 1985, and has offices in Finland as well as in Stockholm and Tallinn.

Here is the company report on Administer from Atte regarding the Q4 results  The company’s efficiency measures began to show well towards the end of the year, and the Q4 result improved more than we expected. This year, the company’s focus, in addition to the integration of the large Sarastia acquisition, is on ensuring growth and continuing profitability improvement in all business segments. We expect Administer’s organic growth to remain slightly negative this year, but for the performance to start improving in H2. The continued earnings improvement and the successful integration of Sarastia offer Administer clear earnings growth potential for the coming years, against which the stock’s valuation (2026e P/E 11x) is not particularly demanding. However, relying on this would currently require a bit too much optimism. Additionally, due to AI fears, the valuations of software and service companies have been beaten down significantly lately, which means Administer’s valuation does not yet look particularly attractive in relative terms. We reiterate our Reduce recommendation and adjust our target price to EUR 2.6 (prev. EUR 2.7).                   Inderes              Administer Q4'25: Odotamme tulosparannukselle jatkoa tänä vuonna - Inderes    Tänä vuonna yhtiön fokuksessa on tulosparannuksen jatkaminen Sarastian integraation lisäksi.

Atte interviewed Administer CEO Kimmo Herranen                    Inderes              Administer Q4'25: Kustannussäästöt näkyivät parempana kannattavuutena - Inderes    Aika: 04.03.2026 klo 15.08 Administerin kannattavuus parani kustannussäästöjen myötä loppuvuonna, mutta liikevaihto oli pienessä laskussa kaikissa liiketoiminnoissa.                             Topics: 00:00 Introduction  00:11 Summary of the end of the year  01:06 Profitability developed well  02:20 Sarastia  03:50 Housing company services  04:56 Opportunities and threats of AI  06:12 Outlook  07:33 Organic growth has been hard to come by  08:57 Boost from the recovery of the Finnish economy

Here are the first takes on Administer’s Q4. Profitability took a nice turn for the better again towards the end of the year, after a setback in Q2-Q3.                   Inderes              Administer Q4'25 -pikakommentti: Tehostamistoimet purivat ja kannattavuus...    Tehostamistoimet nostivat Q4:n EBITA-marginaalin 6,2 prosenttiin

Here are Atte’s advance comments as Administer reports its Q4 results on Wednesday, March 4th.  The company’s earnings release can be followed here at 11:00. We expect the company’s revenue to have decreased from the comparison period, weighed down by the weak market situation, as Econia’s staffing services, in particular, remain under pressure. Regarding profitability, however, we forecast a clear improvement from the weak comparison period, as the previously initiated efficiency measures should begin to show more clearly in the figures. The greatest interest in the report is focused on the 2026 guidance and outlook. Administer’s growth will receive significant support this year from the Sarastia acquisition, which is expected to be completed at the beginning of April, and its successful integration will be a key focus this year.                   Inderes              Administer Q4’25 -ennakko: Sarastia tuo tänä vuonna merkittävän kasvuloikan -...    Administerin kasvu saa tänä vuonna merkittävää tukea näillä näkymin huhtikuun alussa toteutuvasta Sarastia-yrityskaupasta.

Here are Atte’s comments on how Administer intends to invest even more in housing company services.  Administer announced on Monday that it is consolidating the group’s housing company services by establishing a new company. The new company is based on the business of Good House Oy, founded in 2014, and Administer’s ownership stake in the company is 80%. Good House founder Kimmo Karvinen has been appointed CEO of the new company.                   Inderes              Administer aikoo panostaa aiempaa enemmän taloyhtiöpalveluihin - Inderes    Uusi tytäryhtiö tavoittelee valtakunnallista kasvua isännöinnissä ja kokoaa konsernin nykyiset taloyhtiöpalvelut yhteen

Here are Atte’s comments on how the competition authority has also approved the acquisition of Sarastia’s financial and payroll management business for wellbeing services county customers.                   Inderes              Administer: Sarastia tulossa osaksi konsernia 1.4. alkaen - Inderes    Kilpailuviranomainen on nyt hyväksynyt Sarastia-järjestelyn myös hyvinvointiasiakkaiden osalta.

Kyösti Kakkonen accuses Administer’s major owners of greed in Talouselämä: "Veteran investor Kyösti Kakkonen has a clear vision for the companies to be purged from his portfolio. Both construction consulting firm Solwers and financial and payroll management company Administer are getting a piece of his mind. ‘Both companies have betrayed their shareholder promises as early as the listing phase.’ According to Kakkonen, the companies were listed at overinflated prices. Since the IPO, the share price has dropped significantly. ‘The listing prices were not based on economic realism, but on the greed of the major owners,’ Kakkonen says." In the IPO, among the largest owners, only Bocap, owned by Kakkonen’s spouse Julianna Borsos, made an exit. Well, Gordon Gekko would surely have noted: well done.

Administer

Det slutgiltiga genomförandet av affären gör nödvändig ett godkännande från konkurrensmyndigheten, och affären förväntas slutföras under de kommande månaderna.


Automatisk &#xf6;vers&#xe4;ttning: Ursprungligen publicerad p&#xe5; finska 2025-12-22 05:00 GMT. Ge feedback <a href="https://forms.office.com/e/Q3HWRqeAY2">h&#xe4;r</a>.Administer meddelade den 16 oktober 2025 att ett avsiktsf&#xf6;rklaring undertecknats g&#xe4;llande f&#xf6;rv&#xe4;rvet av Sarastias (Numera Palvelut Oy) aff&#xe4;rsomr&#xe5;de f&#xf6;r ekonomi- och l&#xf6;neadministration f&#xf6;r v&#xe4;lf&#xe4;rdsomr&#xe5;deskunder. Administer och Numera Palvelut Oy undertecknade p&#xe5; fredagen den 19 december 2025 ett k&#xf6;peavtal efter att Numeras bolagsst&#xe4;mma godk&#xe4;nt aff&#xe4;ren den 18 december 2025. &#xa0;
Aff&#xe4;rens slutgiltiga genomf&#xf6;rande g&#xf6;r &#xe4;nnu n&#xf6;dv&#xe4;ndig konkurrensmyndighetens godk&#xe4;nnande, och aff&#xe4;ren f&#xf6;rv&#xe4;ntas bekr&#xe4;ftas under de kommande m&#xe5;naderna. Konkurrensmyndigheten <a href="https://www.inderes.fi/analyst-comments/kilpailuviranomainen-hyvaksyi-administerin-sarastia-kaupan-jo-kunta-asiakkaiden-osalta">godk&#xe4;nde</a> redan f&#xf6;rra veckan f&#xf6;rv&#xe4;rvet av Sarastias kommunala kundverksamhet.
N&#xe4;r vi blickar mot n&#xe4;sta &#xe5;r medf&#xf6;r integrationen av Sarastia en ny stor variabel, d&#xe5; den f&#xf6;rv&#xe4;rvade helheten (2025e oms&#xe4;ttning 58 MEUR och EBITDA 2,2 % av oms&#xe4;ttningen) &#xe4;r betydande f&#xf6;r Administer. Sarastia kommer sannolikt att b&#xf6;rja synas tydligare i Administers resultat tidigast under 2027. Vi behandlade senast potentialen som Sarastia erbjuder Administer i v&#xe5;r <a href="https://www.inderes.fi/research/administer-q325-orgaaninen-kasvu-voi-olla-tiukassa-myos-ensi-vuonna">Q3-uppdatering</a>.

	2024	25e	26e
Revenue	74.7	73.6	73.4
growth-%	-1.6 %	-1.5 %	-0.2 %
EBIT (adj.)	2.9	3.6	4.5
EBIT-% (adj.)	3.9 %	5.0 %	6.1 %
EPS (adj.)	0.13	0.17	0.21
Dividend	0.05	0.00	0.05
Dividend %	2.3 %		2.1 %
P/E (adj.)	16.1	14.3	11.5
EV/EBITDA	7.4	8.2	6.9

Administer: Köpeavtal för Sarastias affärsverksamhet gällande välfärdskunder har undertecknats

Key Estimate Figures2025-11-05

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