Enento Group’s Interim Report 1.1. – 31.3.2023: Positive start to the year with … – Press Release

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ENENTO GROUP PLC, STOCK EXCHANGE RELEASE 24 APRIL 2023 AT 12.15 P.M. EEST

Enento Group’s Interim Report 1.1. – 31.3.2023: Positive start to the year with steady profitable growth trajectory continuing

SUMMARY

JanuaryMarch 2023 in brief

  • Net sales amounted to EUR 40,0 million (EUR 40,7 million), a decrease of 1,7% (at comparable exchange rates an increase of 2,3%).
  • Net sales growth excluding the impact from the discontinued Tambur service was 2,3% at comparable exchange rates.
  • Adjusted EBITDA excluding items affecting comparability was EUR 14,7 million (EUR 13,5 million), an increase of 8,6% (at comparable exchange rates increase of 12,3%).
  • Adjusted EBIT excluding items affecting comparability and amortization from fair value adjustments related to acquisitions was EUR 12,0 million (EUR 9,5 million), an increase of 26,6%.
  • Operating profit (EBIT) was EUR 6,9 million (EUR 6,1 million). Operating profit included amortization from fair value adjustments of EUR -2,4 million (EUR -3,1 million) related to acquisitions and EUR -2,6 million (EUR -0,3 million) items affecting comparability mainly arising from restructuring and other efficiency program related costs.
  • New services represented 8,3% (5,9%) of net sales.
  • Free cash flow amounted to EUR 10,1 million (EUR 7,1 million). The effect of items affecting comparability on free cash flow was EUR -1,2 million (EUR 0,1 million).
  • Earnings per share was EUR 0,18 (EUR 0,18).
  • Comparable earnings per share were EUR 0,26 (EUR 0,28)1.
  • The efficiency program targeting at least 8-million-euro efficiencies by the end of 2024, has progressed according to the plan. The measures implemented by the end of first quarter are estimated to have an annual run-rate impact on the profitability of around EUR 4 million.

1 The comparable earnings per share does not contain amortisation from fair value adjustments related to acquisitions or their tax impact.

KEY FIGURES

EUR million 1.1. –
31.3.2023
1.1.
31.3.2022
1.1. 31.12.2022
Net sales 40,0 40,7 167,5
Net…

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