In the second semester Enento Group Adjusted for non-recurring items, operating profit was EUR 13.5 million. Database One analyst forecast for FactSet expected operating profit of EUR 11.8 million. Adjusted operating profit for the comparison period was a profit of EUR 10.2 million.
The reported operating result was EUR 10.1 million. Two analysts estimate that operating profit would have been EUR 8.2 million in April – June, compared to EUR 5.4 million in the comparison period. Forecasts ranged from EUR 8.0 to 8.4 million.
Net sales for the second half of the year amounted to EUR 42.1 million. Four analysts expected Enento’s net sales to increase from EUR 36.7 million in the comparison period to EUR 39.6 million. The forecasts were in the range of EUR 38.6 million and EUR 40.3 million.
“The higher-than-expected net sales in the second quarter were mainly due to the good recovery in sales of Swedish consumer information services. In addition, the Proff business has grown throughout the early part of 2021 and continued to grow during the review period. The strong growth of the Digital Processes business area’s real estate information services continued in both markets, driven by strong market demand and successful service development, ”CEO Jukka Ruuska expose.
“During the first half of the year, we launched 18 new services, seven of which during the second quarter. The volume development of consumer information services in the Swedish market and the demand for the new services we launched laid the foundation for the development of revenue growth, ”says CEO Ruuska.
Adjusted EBITDA was also better than expected. EBITDA in the second quarter was EUR 16.1 million, while analysts expected EBITDA of EUR 14.2 million. In the corresponding period a year ago, EBITDA amounted to EUR 12.5 million. The forecasts were between EUR 13.9 million and EUR 14.5 million. In terms of EBITDA, FactSet had forecasts from four analysts.
The outlook for the Enento Group remained unchanged. The company raised its revenue guidelines in July.
Net sales are expected to grow in 2021 in line with the long-term target (5-10%), exceeding the target in the middle.
The company previously estimated that net sales would grow in line with the long-term target this year, but would remain somewhat below the target.
The company expects the adjusted EBITDA margin to improve somewhat in 2021 compared to the previous year.
The outlook is based on the assumption that exchange rates will remain at approximately the level of the first half of the year.
Source: Arvopaperi by www.arvopaperi.fi.
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