Sitowise Restates Financials for 2025-2026; Swedish Operations Discontinued
Sitowise Group Plc has issued restated financial information for 2025 and the first two quarters of 2026. The company's Swedish subsidiary, Sitowise Sverige AB, is now presented as discontinued operations following its sale.
Sitowise Group Plc has released restated financial information for the full year 2025 and the first and second quarters of 2026. The adjustments stem from the divestment of its Swedish subsidiary, Sitowise Sverige AB, which was completed on July 31, 2026.
In accordance with IFRS 5, the Swedish business is now classified as discontinued operations. This means its profits and assets are reported separately from the company's ongoing business activities.
The sale agreement for Sitowise Sverige AB was signed on June 9, 2026. The divestment is part of Sitowise's strategic realignment aimed at concentrating resources on core operations and improving profitability in its key markets.
The restated financial figures provide a clearer picture of the company's financial position post-sale. Sitowise continues to operate in other markets, focusing on its engineering and consulting services.