FOAMITNasdaq HelsinkiWaste ManagementIFRS · EUR

Foamit Oyj

Partnera is a Finnish investment company focusing on developing and managing its portfolio companies. It holds a 100% ownership in Foamit Group, which specializes in the production and sale of foam glass products. Partnera is actively involved in strategic investments and divestments to optimize its portfolio and enhance shareholder value. The company operates primarily in the Nordic region, with a focus on infrastructure and environmental solutions.

Revenue39.7m EUR
−4.1 %y/y
Operating profit (EBIT)1.5m EUR
−17.0 %y/y
EBIT margin3.9%
−0.6 ppy/y
Net income0.7m EUR
−85.7 %y/y

Fiscal year 2025 · change from previous year

Development 2024–2025

01020304050m EUR2024: 41 m EUR2024: EBIT 1.8 m EUR20242025: 40 m EUR2025: EBIT 1.5 m EUR2025401.5
RevenueOperating profit (EBIT)

Business

Share of revenue
Foam Glass Products80 %

Includes foam glass for infrastructure and environmental projects

Investment Management15 %

Strategic management of portfolio investments

Divestments5 %

Sale of non-core assets to optimize portfolio

Customers

Partnera's customers primarily include public sector entities and large construction companies in the Nordic region. The demand for foam glass products is driven by infrastructure projects such as road and highway construction, where lightweight and environmentally friendly materials are preferred. The company also serves packaging industries across Europe, providing sustainable glass solutions. Partnera's investment management services cater to institutional investors looking for strategic growth opportunities.

Public Sector

Buys foam glass for infrastructure projects due to sustainability

Construction Companies

Use foam glass for lightweight construction needs

Packaging Industry

Requires sustainable glass solutions

Institutional Investors

Seek strategic investment management services

Strategy

Partnera's strategic priorities include expanding its foam glass business and optimizing its investment portfolio. The company aims to enhance production capacity and enter new markets with its foam glass products. Partnera is also focused on divesting non-core assets to streamline operations and improve financial performance. Long-term, the company seeks to grow its portfolio value through strategic acquisitions and sustainable business practices.

Expand Foam Glass BusinessMedium term

To increase market share and revenue

Optimize Investment PortfolioShort term

To improve financial performance

Strategic AcquisitionsLong term

To grow portfolio value

Geography

Partnera operates primarily in the Nordic region, with significant activities in Finland, Norway, and Sweden. The company's manufacturing facilities are located in Norway and Finland, supporting its foam glass production. The Nordic countries are key markets due to their focus on sustainable infrastructure development. Partnera's strategic investments also extend to other parts of Europe, leveraging opportunities in environmental and infrastructure sectors.

Risks

Partnera faces several risks, including market volatility and geopolitical uncertainties that could impact demand for its products. The company is also exposed to financial risks such as interest rate fluctuations and currency exchange rates. Supply chain disruptions and rising material costs pose operational challenges. Additionally, regulatory changes in environmental standards could affect business operations and compliance costs.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Market Volatility1Financial Risks3Regulatory Changes4
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 VolatilityImpact: HighLikelihood: Medium

    Could reduce demand for foam glass products

  2. Supply Chain DisruptionsImpact: High

    Affect production and delivery schedules

  3. Financial RisksImpact: MediumLikelihood: Medium

    Interest rate and currency fluctuations affect costs

  4. Regulatory ChangesImpact: MediumLikelihood: Medium

    Increase compliance costs and operational adjustments

  5. Geopolitical UncertaintiesImpact: Medium

    Impact on operations and investment decisions

Accounting

Judgemental items
Revenue Recognition

Contracts span multiple periods, affecting timing

Seasonal Fluctuations

Impact quarterly revenue and cost comparability

Estimates and Provisions

Critical for managing investment portfolio

Lease Accounting (IFRS 16)

Affects asset and liability presentation

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026