HELSINKI, Finland, April 29, 2021 /PRNewswire/ --
Solteq Plc Stock Exchange Bulletin April
29, 2021 at 8.00 am
The company continued its strong profitable growth driven by
Utilities business
January–March
- Revenue totaled EUR 17.4 million
(15.7) and increased by 10.9 percent
- EBITDA was EUR 3.5 million (1.9)
and EBITDA percent was 20.1 (12.0)
- Operating profit was EUR 2.2
million (0.7) and operating profit percent was 12.8
(4.6)
- Earnings per share was EUR 0.08
(0.00)
- Solteq Group's equity ratio was 32.4 percent (31.5)
- Net cash flow from operating activities was EUR 3.5 million (3.4)
Key figures
|
1-3/2021
|
1-3/2020
|
Change
%
|
1-12/2020
|
Rolling
12mos
|
|
|
|
|
|
|
|
Revenue,
TEUR
|
17,383
|
15,674
|
10.9
|
60,452
|
62,160
|
|
EBITDA,
TEUR
|
3,490
|
1,875
|
86.2
|
10,380
|
11,995
|
|
Comparable EBITDA,
TEUR
|
3,554
|
2,039
|
74.3
|
10,810
|
12,325
|
|
Operating profit,
TEUR
|
2,232
|
716
|
211.6
|
5,350
|
6,866
|
|
Comparable operating
profit, TEUR
|
2,296
|
880
|
160.8
|
5,780
|
7,196
|
|
Profit for the
financial period, TEUR
|
1,456
|
40
|
3,540.0
|
1,980
|
3,396
|
|
Earnings per share,
EUR
|
0.08
|
0.00
|
3,523.1
|
0.10
|
0.18
|
|
Operating profit,
%
|
12.8
|
4.6
|
|
8.9
|
11.0
|
|
Comparable operating
profit, %
|
13.2
|
5.6
|
|
9.6
|
11.6
|
|
Equity ratio,
%
|
32.4
|
31.5
|
|
35.5
|
32.9
|
CEO Olli Väätäinen's
review:
Solteq Group's revenue grew clearly, and profit improved
considerably relative to the comparison period. Solteq Group's
revenue was EUR 17.4 million, an
increase of 10.9 percent. The Group's operating profit was
EUR 2.2 million, up by 211.6 percent
from the comparison period. The Group's operating profit margin was
12.8 percent. The company's EBITDA increased by 86.2 percent
relative to the comparison period, amounting to EUR 3.5 million. Solteq Group's EBITDA margin was
20.1 percent.
Solteq Group's business operations are organized into two
segments: Solteq Software (software business) and Solteq Digital
(services business). The Software segment accounted for just over
one-third of the Group's revenue, and the Digital segment for just
under two-thirds. The Software segment accounted for 44.3 percent
of the Group's EBITDA. The result of both segments was good.
Revenue from international subsidiaries accounted for 21.6 percent
of the Group's revenue, which was slightly below the comparison
period due to the COVID-19 pandemic.
Solteq Software's revenue increased by 43.1 percent in the first
quarter. The growth was significant, and mostly organic. The
business transfer agreement with Partiture Oy at the beginning of
March slightly increased the revenue of Utilities business area.
Investments in the company's product development amounted to
EUR 0.7 million. Reporting of
recurring revenue for the Software segment began at the beginning
of the financial year. Recurring revenue accounted for 29.1
percent of the segment's revenue in the first quarter. The company
estimates that the share of recurring revenue will increase to
about one-third of the segment's revenue this year. The segment's
long-term financial goal is to increase revenue by at least 20
percent annually, and to increase the share of recurring revenue to
more than 50 percent over the next three years.
Solteq Digital's revenue remained almost at the level of the
comparison period. The segment's profitability improved
significantly, and operating profit margin was 11.9. The growth of
the segment was slowed down by the COVID-19 pandemic, which
continued to have a negative impact on travel, service, and leisure
sectors. In addition, major customer projects were completed, while
the launch of new customer projects was delayed.
Solteq Group's business outlook is good both in Finland and internationally. Driven by the
Utilities business, the Solteq Software segment is expected to
continue its upward growth trend. Despite the pandemic, the outlook
for the Solteq Digital segment is expected to remain at the
previous financial year's level or even to grow moderately. The
digital reality is affecting everyone. Keeping up with the latest
developments is therefore on the current and future agendas of
companies of different sizes and in various sectors.
Profit guidance 2021
Solteq Group's revenue is expected to grow clearly and operating
profit to improve clearly.
Attachments
Solteq Plc Interim Report January
1 – March 31, 2021
Further information
CEO Olli VäätäinenTel: +358 50
557 8111E-mail: olli.vaatainen@solteq.com
CFO Kari Lehtosalo
Tel: +358 40 701 0338
E-mail: kari.lehtosalo@solteq.com
Distribution
NASDAQ OMX HelsinkiKey media
www.solteq.com
About Solteq:
Solteq is a Nordic provider of IT services and software
solutions specializing in the digitalization of business and
industry-specific software. The key
sectors in which the company has long term experience include
retail, industry, energy and services. The company operates in
Finland, Sweden, Norway, Denmark,
Poland and the UK and employs
600 professionals.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/solteq/r/solteq-plc-s-interim-report-january-1---march-31--2021,c3335603
The following files are available for download:
|
https://mb.cision.com/Main/10667/3335603/1409493.pdf
|
Release
|
|
https://mb.cision.com/Public/10667/3335603/bb8a80f9728dc4a0.pdf
|
Interim Report Q1
2021
|