IONCOR’s Annual Review 2025: Strong momentum in strategic transformation and a solid foundation for future growth

Gross sales of EUR 899 million, improved profitability and solid operational performance

During the financial year, IONCOR’s gross sales reached EUR 899 million and net sales EUR 189.2 million, reflecting continued business activities and delivery capabilities in a changing market environment. The Group achieved an EBITDA of EUR 41,7 million, corresponding to 22,0% of net sales, marking a significant improvement from the previous year’s result and a clear step forward in profitability and operational efficiency.

IONCOR also continued to reinforce its financial foundation. The company successfully secured EUR 71 million in new funding from Finnish Minerals Group, Varma Mutual Pension Insurance Company, and Pontos Group. This substantial financing enhances liquidity, supports strategic initiatives, and strengthens long-term financial stability.

Gross investments in fixed assets totaled EUR 17.9 million, with a strong focus on product development as well as productivity and flexibility improvements. The Group’s balance sheet remained solid at EUR 253.5 million, and equity increased to EUR 23.1 million, reflecting strengthened capitalization and the positive impact of funding and structural development.

Sustainability and strategy

During 2025, IONCOR continued to drive its mission of enabling low-emission mobility through advanced battery systems. Its sustainability strategy emphasizes future-proof battery technologies, low-carbon European manufacturing, and responsible value chains. The company also further refined its strategy, progressed toward EU regulatory readiness, and advanced circular battery solutions, including reuse, recyclability, and lifecycle transparency.

“In 2025, IONCOR built strong momentum in its strategic transformation, further reinforcing its position as an independent battery system supplier. The new ownership structure, with Finnish Minerals Group as the majority owner, has proven to be a well-timed and strategic investment, providing a solid foundation for accelerated growth and long-term value creation. IONCOR’s strong focus on R&D is driving the development of new products for off-highway, bus and truck, fostering sustainable commercial growth and strengthening the company’s competitive position in the market.”says Jan Lång, Chair of the Board of IONCOR.

“2025 marked a strong year of progress for IONCOR. We surpassed three million battery systems delivered, successfully launched our Energy Pack Long battery system, and expanded into new application areas that open significant growth opportunities. With electrification accelerating as a long-term global trend, we are exceptionally well positioned to strengthen our portfolio, expand our customer base, and further enhance operational performance,” says Roberts Abele, CEO of IONCOR

The Group prepares its financial statements in accordance with International Financial Reporting Standards (IFRS).

Additional information

Media inquiries:

Helen Hofmann, Head of Marketing & Communications
helen.hofmann@ioncor-batteries.com
+358 40 554 1756

Mikael Mäki, Communications Manager
mikael.maki@ioncor-batteries.com
+358 50 317 4308

IONCOR is a leading European supplier of battery systems for electrified vehicles and applications. The company focuses on heavy-duty bus and truck segments, off-highway machinery, including construction, material handling, agriculture, mining and forestry, and the automotive industry. IONCOR offers modular battery products, customized solutions, and contract manufacturing services, and has produced more than three million battery systems. The company operates technology and battery test centers and three high-volume battery system plants in Finland and Germany.