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Earnings flash - Quite in line with expectations

Talenom's net sales in Q4 grew 10.4% to EUR 16.5m, in line with our and consensus estimates (EUR 16.8m Evli/cons.). EBIT amounted to EUR 2.4m, slightly below our and consensus estimates (EUR 2.6m Evli/cons.). Net sales for 2021 are expected to amount to EUR 75-80m and operating profit to EUR 14-16m.
  • Net sales in Q4 amounted to EUR 16.5m (EUR 14.9m in Q4/19), in line with our and consensus estimates (EUR 16.8m Evli/Cons.). Growth in Q4 amounted to 10.4% y/y.
  • Operating profit in Q4 amounted to EUR 2.4m (EUR 1.5m in Q4/19), slightly below our and consensus estimates (EUR 2.6m Evli/cons.), at a margin of 14.7%.
  • EPS in Q4 amounted to EUR 0.04 (EUR 0.02 in Q4/19), in line with our and consensus estimates (EUR 0.04/0.05 Evli/cons.).
  • Net investments during 2020 amounted to EUR 20.3m (2019: EUR 15.4m).
  • Talenom’s BoD proposes a dividend distribution of EUR 0.15 per share (O.15 Evli/cons.).
  • Guidance for 2021: Net sales in 2021 are expected to amount to EUR 75-80m and operating profit to EUR 14-16m. Our 2021 net sales and operating profit estimates are EUR 77.3m and EUR 15.5m respectively.
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