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2022-08-18 07:45:00 CEST 2022-08-18 07:45:01 CEST REGULATED INFORMATION Dovre Group Oyj - Half Year financial reportDOVRE GROUP'S HALF-YEAR FINANCIAL REPORT 1.1.-30.6.2022: DOVRE CONTINUED ITS STRONG PROFITABLE GROWTH IN H1 2022Dovre Group Plc Half-year financial statement August 18, 2022 at 8.45 a.m. DOVRE GROUP’S HALF-YEAR FINANCIAL REPORT 1.1.–30.6.2022: DOVRE CONTINUED ITS STRONG PROFITABLE GROWTH IN H1 2022 The figures presented in this half-year financial report are not audited. Last year’s corresponding period in parentheses. Renewable Energy segment, consisting of the operations of the windmill park construction and construction design company Suvic Oy is fully consolidated in the Group’s financial statements from 1 April 2021 onwards. The non-controlling interest (49%) is presented as a separate line item in the income statements and balance sheet. April–June 2022
January–June 2022
Outlook for 2022 unchanged (issued on 2 August 2022): Dovre Group’s net sales in 2022 is expected to be more than EUR 185 million and the operating profit (EBIT) is expected to be between EUR 6.5 million and EUR 7.5 million. CEO ARVE JENSEN: Favorable market environment supported our growth in the first half of 2022. Our net sales increased by 76.5% to EUR 95.1 million and our operating profit more than doubled to EUR 3.4 (1.6) million. The second quarter was the first directly comparable quarter after the Suvic-acquisition, and during it comparable year-on-year organic net sales growth was 38.4% and operating profit growth was 112.5%. I am delighted to see all our three business segments growing and delivering profitable operating results in the first half of the year. Approximately 75% of our H1 year-on year growth derives from our Renewable Energy segment, which consists of a majority of Suvic Oy's business that was acquired in March 2021. The segment has growth rapidly, and in H1 2022 Suvic has been involved in building eight different windmill parks in Finland, of which some of the largest projects will continue also in 2023. Activity levels were high also in our Project Personnel and Consulting businesses. Increased demand for our services, in Norway, supported these segments’ growth. In Project Personnel in Norway, we secured in May, together with our partners, a new frame agreement with Aibel AS, a leading service company within the oil, gas, and offshore wind industries. In addition, several existing clients in Project Personnel and Consulting used their options to extend agreements in 2022. In Consulting Finland, the Proha entity has had high activity and the strengthening of our operations with eSite develops according to plan. The good development in our operations is an outcome our consultants’ ability to meet and exceed our clients’ expectations. For this, I warmly thank all our employees. At the same time as our operating environment supports our growth, it continues to possess In mid to long-term, the demand for energy is forcing governments and the private sector to seek new energy-efficient solutions, which we believe will lead to an increasing demand in all our business areas. We intend to further expand our services in the energy sector. The focus of all our operations is on profitable growth, ensuring the best professionals for our clients' projects and maintaining high customer satisfaction in order to stay ahead of our industry’s tight competition. GROUP’S KEY FIGURES
This stock exchange release is a summary of Dovre Group Plc’s Half-Year Financial Report January 1 - June 30, 2022. The full bulletin is attached to this release and is also available online atwww.dovregroup.com-> Investors Espoo, August 18, 2022 DOVRE GROUP PLC For additional information, please contact: Dovre Group PLC Arve Jensen, CEO Sirpa Haavisto, CFO Financial reporting in 2022 Dovre Group releases its Q3 trading statement for January 1 – September 30, 2022, on Wednesday, October 26, 2022. Distribution Attachment |
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