Solwers Plc Half-Year Financial Report January-
Strong growth continued and profitability remained on a good level
This Company release is a summary of Solwers Plc's Half-Year Financial Report January-
January -
The figures for the first half are unaudited (IFRS). The figures in brackets refer to the corresponding period in the preceding year and are expressed in the same unit, except where otherwise noted.
- Revenue grew 48,3 % to
EUR 32,562 (21,962) thousand -
EBITA was
EUR 3,801 (2,664) thousand, 11.7 (12.1) % of revenue -
EBIT was
EUR 2,808 (2,018) thousand, which is 8.6 (9.2) % of revenue -
The company continued the implementation of its growth strategy by acquiring Arkkitehdit Sabelström Arkitektkontor in
Finland in March and Establish Schening inSweden in May -
The Annual General Meeting resolved on a dividend payment of
EUR 0.040 (0.103) per share for the financial year 2021 -
The company's operating cash flow
EUR +1,846 (+1,757) thousand remained on the level of the comparison period and the financial position continued to be good - The financing agreement with the company's principal bank was expanded and amended to support of execution of new business acquisitions
- The number of employees at the end of the reporting period was 601 (405).
Outlook and mid-term financial targets
The level of investment varies from one year to the next and in different ways in different sectors. Public and private sector investments affect employment and profitability in the entire design and engineering sector, including
The
The COVID-19 pandemic increased and may continue to increase the number of personnel sick leaves also in the future. This may affect the company's revenue and earnings if the higher-than-normal sickness absences caused by the coronavirus continue.
The Company will keep a close eye on the effects of the developing geopolitical situation, but nevertheless maintains its mid-term financial targets as set out in the prospectus published on
- Growth: Revenue growth over 20 % (12 months)
- Profitability: EBITA margin over 12 %
- Equity ratio: Over 40 %
Key figures
EUR Thousand | H1/2022 | H1/2021 | 2021 |
Revenue | 32 562 | 21 962 | 44 662 |
EBITDA | 4 245 | 3 013 | 5 495 |
EBITDA-% | 13,0 | 13,7 | 12,3 |
EBITA | 3 801 | 2 664 | 4 708 |
EBITA-% | 11,7 | 12,1 | 10,5 |
EBIT | 2 808 | 2 018 | 3 371 |
EBIT-% | 8,6 | 9,2 | 7,5 |
Net profit | 1 919 | 840 | 1672 |
Net profit-% | 5,9 | 3,8 | 3,7 |
Earnings per Share (EPS) non-diluted, EUR | 0,21 | 0,15 | 0,20 |
Earnings per Share (EPS) diluted, EUR | 0,21 | 0,15 | 0,20 |
Revenue per employee | 56 | 54 | 112 |
Revenue growth % | 48,3 | 58,1 | 36,8 |
Billing rate, % | 81,8 | 81,7 | 82,2 |
Adjusted equity | 32 895 | 28 884 | 31 908 |
Net debt | 17 184 | 21 | 14 119 |
Equity ratio, % | 43,9 | 51,4 | 45,4 |
Adjusted equity ratio, % | 43,9 | 51,4 | 45,4 |
Total assets | 74 949 | 59 196 | 70 354 |
Headcount, average during period | 586 | 390 | 397 |
Headcount, at end of period | 601 | 405 | 571 |
CEO
Despite the general market uncertainty, the demand for our services remained stable and the performance of our company during the first six months was good. Our revenue increased by almost 50 percent to
Our order stock has also remained relatively stable, and the invoicing rate is on the same level compared to last year's first six months. Of the new projects, an interesting example is the design project of the Raisio Tiedonpuisto school of
In
In line with our growth strategy, we continuously expand our operations through business acquisitions. In May, we acquired the entire capital stock of the management consulting company
The expansion of the service portfolio, together with the diversified business and geographical presence of the
In addition to the Nordic countries, we explore growth opportunities also in the Eastern European countries, where the production costs for planning and design are clearly more competitive than in the Nordic countries. Companies to be acquired in this geographical area could support our operations in the Nordic countries while continuing their business in their home country.
Furthermore, in our home markets of
When taking a view at the future outlook, it can be noted that the general uncertainty in the market may affect customers' willingness to invest. However, we are proceeding in line with our growth strategy by strengthening the organization's expertise and aim for a few business acquisitions during this year.
Board of Directors
For further information, please contact:
Certified Adviser:
Distribution:
Nasdaq
Key media
www.solwers.fi
https://news.cision.com/solwers-oyj/r/strong-growth-continued-and-profitability-remained-on-a-good-level,c3631279
https://mb.cision.com/Public/20584/3631279/ad0e1cf3ca1c69a5.pdf
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