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2023-08-17 07:45:00 CEST 2023-08-17 07:45:01 CEST REGULATED INFORMATION Dovre Group Oyj - Half Year financial reportDOVRE GROUP'S HALF-YEAR FINANCIAL REPORT 1.1.-30.6.2023Dovre Group Plc Half-year financial statement August 17, 2023, at 8.45 a.m. DOVRE GROUP’S HALF-YEAR FINANCIAL REPORT 1.1.–30.6.2023 The figures presented in this half-year financial report are not audited. Last year’s corresponding period in parentheses. The 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. The non-controlling interest (49%) is presented as a separate line item in the income statements and balance sheet. April–June 2023
January–June 2023
Outlook for 2023 unchanged (issued on 26 June 2023) Dovre Group’s net sales in 2023 are expected to be in the range of 185 to 195 million euros and the operating profit (EBIT) is expected to be above 7 million euros. CEO ARVE JENSEN: H1 2023 was marked by some headwinds, leading to a modest decline in both net sales and profitability compared to the corresponding period last year. Year-on-year fluctuations in foreign currency exchange rates had an impact on the Group’s net sales in H1. At fixed currencies, the year-on-year growth of net sales in H1 would have been 3.4% instead a of decrease of -2.1%. In particular, the weakened Norwegian crown had the effect of decreasing net sales. The Renewable Energy segment experienced challenges with fewer and smaller projects, which contributed to an 18.8% decrease in net sales for this segment. On a positive note, our Project Personnel and Consulting segments experienced growth, with net sales increasing by 12.3% and 1.4%, respectively. This highlights the strength and adaptability of these segments, reaffirming our strategic focus on delivering high-quality services to our clients. In terms of geographical market areas, our largest sales increase occurred in North America, owing primarily to strong activity levels in Canada. One notable factor impacting our overall revenue and profit during H1 2023 has been currency fluctuations, particularly the weakening of the Norwegian Crown. The effects of Norway's new temporary hiring legislation, which went into effect in April, have had a minor impact on the energy sector's activity level thus far. The public sector, however, has been more noticeably affected. Moreover, geopolitical unrest, surging inflation rates, and soaring energy prices in various parts of the world have all had an impact on consumer demand and increased cost pressures. Despite the challenges faced in the Renewable Energy sector, we continue to believe in its growth potential. Our long-term outlook remains positive, and we continue to explore opportunities to leverage our expertise and expand our services within the energy sector. Looking ahead, we recognize that uncertainties persist in the global market. Nevertheless, we still anticipate strong demand for our services in the second half of the year. In addition, we are proactively implementing measures to enhance operational efficiency and drive sustainable profitability. GROUP’S KEY FIGURES
This stock exchange release is a summary of Dovre Group Plc’s Half-Year Financial Report January 1 - June 30, 2023. The full bulletin is attached to this release and is also available online at www.dovregroup.com-> Investors Espoo, August 17, 2023 DOVRE GROUP PLC For additional information, please contact: Dovre Group PLC Arve Jensen, CEO Sirpa Merelä, CFO Financial reporting in 2023 Dovre Group releases its Q3 trading statement for January 1 – September 30, 2023, on Wednesday, October 26, 2023. Distribution
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