Auditing

Luotea has one auditor that must be a firm of auditors approved by the Finland Chamber of Commerce. The auditor is elected by the Annual General Meeting. 

The auditors and the Board agree on the audit plan annually and discuss the audit’s findings. The auditor's term of office is the current fiscal year when elected, and the auditor's term of office continues until the end of the next Annual General Meeting.

At the 2026 Annual General Meeting, PricewaterhouseCoopers Oy (PwC) was elected as the Company's auditor, with Samuli Perälä, Authorized Public Accountant (KHT), serving as the auditor with principal responsibility.

In addition, the Company's auditor was appointed as the assurance provider for the Company's sustainability reporting and will provide assurance for the sustainability report for the financial year 2026.

In 2025, PwC's fees for the Group's statutory audit amounted to approximately EUR 1,200,000 (2024: EUR 500,000). Fees paid to the audit firm and companies belonging to the same network for services other than statutory audit totalled EUR 755,000 (2024: EUR 178,100). These non-audit services primarily related to consulting on accounting, taxation and financial reporting, as well as the assurance of sustainability reporting.

The increase in audit costs compared with the previous year was mainly attributable to expenses related to the partial demerger.