Algol’s 2025 Sustainability Report presents the Group’s sustainability actions

The Algol Group’s 2025 Sustainability Report has been published and provides a comprehensive overview of the Group’s sustainability actions. The voluntary report has been prepared with reference to the structures and principles of the European Sustainability Reporting Standards (ESRS).

A key achievement in 2025 was the completion of double materiality assessments at those Group companies where this had not yet been done. These assessments form a strong foundation for identifying material impacts, risks and opportunities and for developing sustainability work on a business-specific basis. The material sustainability topics presented in the Algol Group’s Sustainability Report are based on the impacts, risks and opportunities identified in these assessments.

We are committed to developing sustainability and transparency

Algol published its first sustainability report in 2022, and since then we have been systematically developing our sustainability reporting practices.

“Voluntary reporting reflects our commitment to long-term development and increased transparency. I would like to express my warmest thanks to all Algol employees and partners for your cooperation and success in 2025,” says Joakim Flinck, CEO of Algol Group

View the Sustainability Report.

Further information:

Tor Edgren, Sustainability Manager, Algol Oy, t. +358 50 525 7625

Tuulikki Suihkonen, Communications Manager, Algol Oy, t. +358 50 3467 248

Algol in brief

Algol is a family-owned business and multi-branch group with more than 130 years of experience in international trade. Our Group companies import, market and manufacture products for industry and the healthcare sector. In addition, companies offer services related to their business areas, such as design services, tailored delivery solutions, and installation, maintenance and training services. We are building a successful and sustainable future for our partners. Algol employs over 500 experts in nine different countries.

Growth and profit in an unstable market situation

The Algol Group’s business continued to develop steadily in 2025. Net sales increased by approximately two percent to EUR 198 million. The operating result was lower compared to the previous year and fell short of the target set for the year. However, achieving an operating result of almost EUR 7 million euros can still be considered satisfactory considering the unstable market situation.

Outlook for the current year continues to be stable

The current year still looks stable for Algol. Algol Group companies operate in many different sectors and regions, which provides stability also in times of uncertainty. In recent years, we have invested in growth across all our businesses through several corporate and business acquisitions, and we believe these investments will deliver significant performance improvements as demand improves. However, we also anticipate that the prolonged wars, conflicts and tensions may adversely affect demand and the availability of some of the products we sell.

According to our forecast, net sales and the result at the Group level will improve in 2026. We continue to aim for moderate growth, continuous longterm improvement in our results and strengthening our balance sheet.

2025 2024 2023
Net sales, MEUR 198 194 208
EBITDA, MEUR 8,8 9,3 13,7
EBIT, MEUR 6,9 7,8 12,2
Result after taxes, MEUR 4,8 5,9 8,5
ROE, % 12,4 16 26
Solidity, % 51,3 49,6 44,7
Net debt, MEUR Net debt free Net debt free Net debt free
Number of personnel on average 486 485 465

Further information

Joakim Flinck, CEO, Algol Oy, tel. +358 9 50991 (switchboard)

Algol in brief

Algol is a family-owned business and multi-branch group with more than 130 years of experience in international trade. Algol Group companies import, market and manufacture products for industry and the healthcare sector. In addition, our companies offer services related to their business areas, such as design services, tailored delivery solutions, and installation, maintenance and training services. We are building a successful and sustainable future for our partners. Algol employs approximately 500 experts in nine different countries.

Updated product information related to MDCG 2024-11

The Medical Device Coordination Group (MDCG) has published the guidance document MDCG 2024-11, which clarifies which products fall under the scope of the In Vitro Diagnostic Regulation (IVDR, EU 2017/746).

The guidance explains that certain products intended for general laboratory use, which are used in the preparation of human specimens, do not fall within the scope of IVDR and therefore must not be CE-IVD marked, but are instead classified as General Laboratory Use (GLU) / General Laboratory Reagents (GLR).

As a result, Histolab is reviewing and updating the classification and labeling of affected products to ensure full compliance with applicable regulatory requirements.

This change does not affect the product’s quality, performance, safety, or intended use in laboratory workflows.

Affected products

A list of affected products, including article numbers, is published on Histolab’s website and will be updated on an ongoing basis as information becomes available.

More information
The official EU guidance document is available here: MDCG 2024-11 – Guidance on qualification of in vitro diagnostic medical devices.
If you have any questions, please contact your regular Algol Diagnostics representative.

Algol donates 40,000 euros in support of Ukraine

The Algol Group is donating a total of 40,000 euros in humanitarian aid for Ukraine. Over the past five years in a row, Algol has donated 200,000 euros to support victims of the war. The support will be divided equally between UNICEF’s Ukraine Fund and the Disaster Relief Fund of the Finnish Red Cross. Due to the prolonged Russian war of aggression, Ukraine requires a wide range of assistance now and will continue to do so for years after the cessation of hostilities in the region.

UNICEF is providing significant emergency aid in Ukraine, focusing on the protection of children and families, healthcare, clean water and education. The Finnish Red Cross, in turn, is focusing on first aid, evacuation and healthcare for the injured.

Through its continued support, Algol is sending a strong message that it stands firmly with the people of Ukraine. In addition, Algol Chemicals, a business unit of the Algol Group, is committed to continuing its operations in Ukraine, where our local colleagues work.

“Civil society has suffered greatly during the war. We are supporting Ukraine and its people through concrete actions. The war has particularly affected children and families, so we find it important that we support reliable international actors who can help the most vulnerable,” says Algol Group CEO Joakim Flinck.

Further information:
Joakim Flinck, CEO, Algol Oy, tel. +358 9 50 991 (Algol switchboard)

Algol in brief

Algol is a family-owned business and multi-branch group with more than 130 years of experience in international trade. Our subsidiaries import, market and manufacture products for industry and the healthcare sector. In addition, Algol Group companies offer services related to their business areas, such as design services, tailored delivery solutions, and installation, maintenance and training services. We are building a successful and sustainable future for our partners. Algol employs more than 500 experts in nine different countries.

Histolab Products and Algol Diagnostics unite to strengthen Nordic presence

Histolab Products AB and Algol Diagnostics Oy, both proud members of the Algol Group, have merged to form a stronger, united organization.

This is a natural step in building a comprehensive Nordic presence, allowing us to strengthen cross-border collaborations and draw on each other’s expertise. By combining our resources and knowledge, we are creating an even more capable and dynamic partner for you.

For you as a customer, this change will not affect your existing contracts, agreements, or buying patterns. You can continue to rely on the same trusted contacts and processes as before. At the same time, the merger opens up new opportunities: it enables us to broaden our product portfolio, expand our assortment, and provide access to even more product and technical expertise to support your needs.

Please note that the well-established brand names Histolab Products and Algol Diagnostics will remain unchanged for the time being.

We are confident that this step will bring long-term benefits and allow us to serve you even better. Thank you for your continued trust and partnership – we look forward to building the future together with you.

Further information:
Joakim Eurenius, Managing Director , Histolab Products AB & Algol Diagnostics Oy, joakim.eurenius@histolab.se

 

What the merger means for you? Q&A

Will my current contracts or orders be affected?
No, everything continues as usual. Your contracts, agreements, and contacts remain unchanged.

Will I get new contact persons?
No, you can continue to turn to the same people as before.

What does the merger mean for me as a customer?
Nothing changes right now – everything continues as usual. Over time, you will gain access to a broader product range, more expertise, and an even stronger partner.

Will the brand names change?
No, both Histolab Products and Algol Diagnostics will continue to remain in place for the time being.

 

Algol continues Christmas tradition of supporting Finnish and global causes

As in previous years, Algol Group is donating to both Finnish and international organisations instead of sending Christmas cards and gifts. Again, the support extends to both humanitarian and environmental causes.

“We want to support a wide range of causes and promote their valuable work over the long term. With our Christmas donations, we would like to thank all our stakeholders for their cooperation and wish you a peaceful Christmas season,” says Algol Group CEO Joakim
Flinck.

Recipients of Christmas donations from Algol Group in 2025:
John Nurminen Foundation
Finnish Lifeboat Institution
Finnish Red Cross Disaster Relief Fund
UNICEF
Crisis Management Initiative (CMI)
Folkhälsan’s Lucia Collection
Finnish War Veterans

Further information:
Joakim Flinck, CEO of Algol Group, tel. +358 9 50991 (Algol switchboard)

Algol in brief

Algol is a family-owned business and multi-branch group with more than 130 years of experience in international trade. Our subsidiaries import, market and manufacture products for industry and the healthcare sector. In addition, Algol Group companies offer services related to their business areas, such as design services, tailored delivery solutions, and installation, maintenance and training services. We are building a successful and sustainable future for our partners. Algol employs nearly 500 experts in nine different countries.

Idylla™ POLE-POLD1 test provides rapid molecular diagnostics for endometrial carcinoma

The new POLE-POLD1 assay for the Idylla™ system enables molecular diagnostics of endometrial carcinoma directly from an FFPE section in just 95 minutes. This ultra-fast analysis supports prognostic assessment and treatment stratification already at the early stages of care. Endometrial cancer is the fourth most common cancer among women in Finland, and molecular profiling is an essential part of its diagnostics.

ESMO recommends classifying all endometrial carcinomas into four molecular profiles:
• POLE-abnormal
• MMR-deficient
• P53-abnormal
• NSMP (non-specific molecular profile)

Mutations in the POLE and POLD1 genes disrupt the genome’s proofreading function, leading to a hypermutated tumor genotype and an increased number of neoantigens. Such tumors are often associated with a better prognosis and patients may benefit from immunotherapy.

Biocartis’ Idylla™ POLE-POLD1 test requires only a single FFPE section and covers 99% of pathogenic POLE and POLD1 mutations. The POLE-POLD1 test complements the Idylla™ system’s broad oncology diagnostics portfolio and enables molecular profiling for endometrial carcenoma faster than ever before.

More information:
Miika Palviainen
miika.palviainen@algol.fi
tel: +358 50 587 5030

Miro Nevalainen
miro.nevalainen@algol.fi
tel: +358 40 182 7613

EMT – Endometrial Microbiome Test for identifying the uterine microbiome

The endometrial microbiome plays a crucial role in achieving a successful pregnancy. Studies have shown that a healthy, Lactobacillus-dominant microbiome enhances endometrial receptivity for embryo transfer and may increase the likelihood of a successful pregnancy. The EMT test provides
clinics with an advanced NGS-based (Next Generation Sequencing) tool for accurately analyzing the balance of the endometrial microbiome prior to fertility treatments.

The test is based on 16S rRNA gene sequencing of bacteria in the endometrial lining, enabling species-level identification of the microbiome composition. The result report includes a detailed analysis of both beneficial Lactobacillus species and potentially disruptive pathogenic bacteria.

Key Benefits:

  • Assesses Lactobacillus dominance, which is associated with improved pregnancy and live
    birth outcomes
  • Identifies pathogenic species that may increase inflammation risk (e.g., Gardnerella,
    Atopobium, Prevotella)
    Requires only an endometrial fluid sample – no need for repeated or painful biopsies
    Results available within 14 days, presented in a clear format
    Recommended Uses:
    Prior to initiating IVF/ICSI treatments
    In cases of recurrent miscarriage or failed embryo transfers
    For planning supportive interventions for pregnancy (e.g., microbiome-targeted treatments
    such as antibiotic or probiotic therapies)

For more information:
Miro Nevalainen
miro.nevalainen@algol.fi

Algol’s Sustainability Statement 2024: We focused on environmental actions, social responsibility and governance

Our 2024 Sustainability Statement has been prepared for the first time in accordance with the structures and principles of the European Sustainability Reporting Standards (ESRS).  The EU’s Corporate Sustainability Reporting Directive (CSRD) is still voluntary for Algol. The development work that has been undertaken for the 2024 Sustainability Statement will provide the basis for Algol’s future sustainability reporting.

The Statement is based on double materiality assessments. In the 2024 Statement, in addition to general information, the following emerged as key topics:

Environmental responsibility
E1 Climate change
E2 Pollution
E5 Resource use and circular economy

Social responsibility
S1 Own workforce
S2 Workers in the value chain
S4 Customers and end users

Governance
G1 Business conduct

“Building a responsible and sustainable business is the task of our entire organisation. Our Sustainability Statement highlights our ongoing work to ensure and develop sustainability. Our values – accountability, collaboration and development – inspire this work even without reporting obligations, as they have done since 1894”, states CEO Alexander Bargum in his greeting. 

Algol Group’s sustainability highlights in 2024:

  • The Statement covers, where applicable, all companies within the Algol Group: Algol Chemicals, Algol Diagnostics, Algol Technics, Algol Trehab, Histolab Products, and Suomen Unipol. 
  • Double materiality assessments were conducted at Algol Chemicals and Algol Technics. In the other business units, this work was initiated at the end of 2024.
  • We published new policies that guide operations, ensure regulatory compliance, and support sustainability. 
  • We advanced our climate work. Scope 1–2 emission calculations were completed at the Group level. Scope 3 calculations were further developed, with Algol Chemicals taking the lead. 
  • Employee wellbeing and job satisfaction are supported through regular review and target setting discussions and feedback from employee surveys. In 2024, 97.2% of employees had participated in these discussions (2023: 94.2%). Our goal is to achieve a 100% participation rate.
  • We are committed to proactive occupational safety. A total of 2262 safety observations were recorded (target: 1460). 

Explore Algol’s Sustainability Statement

Further information:
Tor Edgren, Sustainability Manager, +358 50 525 7625, tor.edgren@algol.fi
Tuulikki Suihkonen, Communications Manager, +358 50 346 7248, tuulikki.suihkonen@algol.fi

Algol in brief

Algol is a family-owned business and multi-branch group with more than 130 years of experience in international trade. Our companies import, market and manufacture products for industry and the healthcare sector. In addition, Algol companies offer services related to their business areas, such as design services, tailored delivery solutions, and installation, maintenance and training services. We are building a successful and sustainable future for our partners. Algol employs nearly 500 experts in ten different countries.

Algol Group achieved its performance target in 2024

The Algol Group’s business continued to develop steadily in 2024. Although the operating result weakened in line with expectations compared to the previous two years, it remained at a good level. The operating profit amounted to EUR 7.8 million, which corresponds to the Group-level performance target set for the year. The results for the Group’s business sectors were also well in line with expectations. The decline in net sales to EUR 194 million was mainly due to declining raw material prices and the weakening of investment demand in the project business.

Outlook for the current year continues to be stable

The current year still looks stable for Algol. The outlook for industrial investments has improved somewhat compared to a year ago. Algol Group companies operate in many different sectors and regions, which provides stability also in times of uncertainty.

According to our forecast, net sales and the result at the Group level will improve in 2025. We continue to aim for moderate growth, continuous long-term improvement in our results and strengthening our balance sheet.

2024 2023 2022
Net sales, MEUR 194 208 233
EBITDA, MEUR 9.3 13.7 14.4
EBIT, MEUR 7.8 12.2 11.7
Result after taxes, MEUR 5.9 8.5 7.8
ROE, % 16 26 27
Solidity, % 49.6 44.7 36.0
Net debt, MEUR Net debt free Net debt free Net debt free
Number of personnel on average 485 465 476

Further information

Alexander Bargum, CEO, Algol Oy, tel. +358 40 732 3232

Algol in brief

Algol is a family-owned business and multi-branch group with more than 130 years of experience in international trade. Our companies import, market and manufacture products for industry and the healthcare sector. In addition, Algol companies offer services related to their business areas, such as design services, tailored delivery solutions, and installation, maintenance and training services. We are building a successful and sustainable future for our partners. Algol employs nearly 500 experts in ten different countries. www.algol.fi