BETOLARNasdaq HelsinkiBuilding MaterialsIFRS · EUR

Betolar Oyj

Betolar is a Finnish company specializing in circular economy and materials technology. It focuses on transforming industrial sidestreams and mine tailings into high-value materials for the mining, metals, and construction industries. The company's innovative technologies, such as Geoprime®, enable the replacement of traditional cement with low-carbon binders. Betolar's business model includes license-based technology solutions and the commercialization of industrial sidestreams, aiming to reduce CO₂ emissions and minimize the use of virgin natural resources.

Revenue0.9m EUR
+24.1 %y/y
Operating profit (EBIT)-5.8m EUR
+26.7 %y/y
EBIT margin-617.3%
+427.8 ppy/y
Net income-6.1m EUR
+21.3 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-15,000-10,000-5,00005,000m EUR202120222023: 0.52 m EUR2023: EBIT -13,260 m EUR20232024: 0.76 m EUR2024: EBIT -8.0 m EUR20242025: 0.95 m EUR2025: EBIT -5.8 m EUR2025TTM 2026: 1.4 m EURTTM1.4
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Geopolymer Solutions40 %

Includes Geoprime® solutions for replacing cement in concrete products.

Technology Licensing25 %

License-based sales of metal extraction and Geoprime® technologies.

Circular Economy Materials20 %

Sales of materials like blast furnace slag for use in construction.

Research Services15 %

Non-recurring engineering and analysis services for industrial sidestreams.

Customers

Betolar serves a diverse range of customers primarily in the mining, metals, and construction industries. Its customers are typically looking for sustainable and innovative solutions to reduce their environmental impact and improve operational efficiency. The company's technology and materials appeal to businesses aiming to replace traditional cement with low-carbon alternatives. Betolar's clients include companies involved in infrastructure projects and those seeking to commercialize industrial sidestreams.

Mining Industry

Buys metal extraction technologies to reduce environmental impact.

Construction Industry

Uses Geoprime® solutions for low-carbon concrete products.

Industrial Sidestream Owners

Engage in sidestream analysis and commercialization services.

Strategy

Betolar's strategy focuses on leveraging its advanced materials technology to transform industrial sidestreams into valuable materials. The company aims to expand its market presence through license-based technology sales and the commercialization of circular economy materials. Strategic priorities include enhancing its data-driven business ecosystem and strengthening its position in the value chain. Betolar is committed to sustainability, aiming to reduce CO₂ emissions and promote the use of alternative binders in construction.

Expand technology licensingMedium term

To increase market reach and revenue

Commercialize circular economy materialsShort term

To capitalize on growing demand for sustainable materials

Strengthen data-driven ecosystemLong term

To improve product development and customer solutions

Geography

Q4/2025

Betolar is headquartered in Kannonkoski, Finland, and operates globally with a focus on Europe and Asia. The company engages in pilot projects and commercial activities in regions like the Middle East and North America. Its strategic partnerships and projects in Finland and other European countries are crucial for its growth. Betolar's geographic presence allows it to tap into diverse markets and leverage regional demand for sustainable construction materials.

Europe, Middle East and Africa65 %
Asia Pacific35 %

Share of the revenue the company reports by geography.

Risks

Betolar faces several risks, including strategic risks related to market acceptance of its technologies and operational risks from scaling its business model. The competitive landscape in the construction materials industry poses challenges, as traditional cement remains dominant. Regulatory changes and environmental standards can impact demand for Betolar's solutions. Additionally, the company's reliance on industrial sidestreams as raw materials exposes it to supply chain risks.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Market acceptance of technologies1Regulatory changes2
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Market acceptance of technologiesImpact: HighLikelihood: High

    New solutions need to gain industry trust

  2. Regulatory changesImpact: MediumLikelihood: Low

    Could affect demand for low-carbon solutions

  3. Supply chain disruptionsImpact: Medium

    Dependence on industrial sidestreams

Accounting

Judgemental items
Revenue recognition timing

Affects when revenue is reported

Impact: medium

Lease accounting estimates

Influences reported liabilities and expenses

Impact: low

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026