Nordic company financials: where the reported numbers come from

Nordic company financials come from three documents that every company listed on Nasdaq Helsinki or Nasdaq Stockholm publishes: interim reports during the year, an annual report with audited IFRS financial statements, and a machine-readable ESEF version of that annual report. Each is released as a stock exchange release on a date the company announces in advance.

We read these documents for every Helsinki and Stockholm company we cover and keep each figure linked to the page it came from. Below we explain what each document contains, how the reporting calendar runs, and trace the FY2025 figures of KONE Oyj (Nasdaq Helsinki: KNEBV) and Atlas Copco AB (Nasdaq Stockholm: ATCO A) back to their sources.

The three documents behind Nordic company financials

Unlike US companies, which file standardised 10-K and 10-Q forms with the SEC, Nordic companies publish their reports as PDFs and web pages in their own layout. The content is regulated (by the EU Transparency Directive, national securities law and IFRS), but the presentation varies by company. The table summarises what each document gives you.

Source: general reporting practice on Nasdaq Helsinki and Nasdaq Stockholm as of 28 Oct 2026. Not company data; no fiscal year or currency applies.

Two practical consequences follow. Quarterly figures are condensed and sometimes restated later, so the annual report is the reference for a full year. And because layouts differ, the same line can have different names: "revenues", "net sales" or "sales" all usually mean IFRS 15 revenue, while "comparable" or "adjusted" lines are the company's own measures.

How the Nordic reporting calendar works

Each company announces its reporting dates for the coming year in advance, typically in its financial statements release. Most large Nordic companies report quarterly, even though EU rules require only half-year and annual reports. The busiest weeks are late January to mid-February, late April, mid-July and late October.

The Q3 2026 season was under way at the end of October 2026. These are some of the reports in our calendar for 28 and 29 October 2026.

Source: Clarifo report calendar (company press releases), data as of 28 Oct 2026. Reports cover fiscal Q3 2026; dates as announced by each company; no currency applies.

Worked example: KONE's FY2025 figures from Helsinki

KONE Oyj, the elevator and escalator maker, reports in euros. For FY2025 (year ended 31 Dec 2025) our data takes the headline figures from KONE's ESEF annual report, where each number is a tagged fact rather than text read from a PDF.

Source: KONE Oyj ESEF annual report FY2025 and Financial Statements 2025, EUR, data as of 28 Oct 2026¹.

Worked example: Atlas Copco's FY2025 figures from Stockholm

Atlas Copco AB, the compressor, vacuum and industrial tools group, reports in Swedish kronor. The table below is copied from the consolidated income statement in its 2025 annual report, with 2024 as printed in the same report.

Source: Atlas Copco AB, Annual Report 2025, consolidated income statement, p. 106, SEK, fiscal years ended 31 Dec, data as of 28 Oct 2026².

Operating margin was 20.3% in FY2025 (our calculation from reported figures: 34,114 / 168,343). When you read a Nordic report yourself, check which table a number sits in: segment tables, the parent-company statements and quarterly columns all appear near the group full-year figures, and the column headers tell you which is which.

How to read Nordic company financials without opening every PDF

We parse the interim reports, annual reports and ESEF files of Nasdaq Helsinki and Nasdaq Stockholm companies into the same income statement, balance sheet and cash flow shape we use for US companies, with a citation to the filing page for each figure. You can read them on our company pages, through the Data API, or in Claude and ChatGPT through our read-only MCP server.

For a broader look at research workflows, see our article on choosing an equity research data platform.