Innofactor - Nice finish to the year
Innofactor’s Q4 results were in line with expectations. Net sales grew 17.1% y/y to EUR 20.5m (Evli EUR 20.5m). EBIT amounted to EUR 1.8m (Evli EUR 1.9m). Innofactor’s net sales and EBITDA in 2023 are expected to increase compared with 2022. Dividend proposal EUR 0.06 per share (Evli EUR 0.06).
- Net sales in Q4 amounted to EUR 20.5m (EUR 17.5m in Q4/21), in line with our estimates (Evli EUR 20.5m). Net sales in Q4 grew 17.1% y/y and 12.7% organically. Net sales increased in Finland and Norway but declined in Sweden and Denmark.
- EBITDA in Q4 was EUR 2.6m (EUR 1.7m in Q4/21, in line with our estimates (Evli EUR 2.7m), at a margin of 12.7%.
- Operating profit in Q4 amounted to EUR 1.8m (EUR 0.5m in Q4/21, in line with our estimates (Evli EUR 1.9m), at a margin of 8.8%.
- Order backlog at EUR 75.8m, up 4.1% y/y. New orders included an information management solution for the Finnish Defence Forces Logistics Command, approximately EUR 22 million (not yet in order backlog, slightly over half estimated to be entered in Q1/2023).
- Guidance for 2023: Innofactor’s net sales is expected to increase from 2022 (EUR 77.1m) and EBITDA is expected to increase from 2022 (EUR 7.8m).
- Dividend proposal: Innofactor’s BoD proposes a distribution of EUR 0.06 per share a repayment of capital (Evli EUR 0.06).