Talenom - Figures quite as expected
Talenom's net sales in Q2 grew 29.6% to EUR 21.4m, in line with our and consensus estimates (EUR 21.0m Evli/cons.). EBIT amounted to EUR 4.1m, slightly below our and consensus estimates (EUR 4.3m/4.4m Evli/cons.).
- Net sales in Q2 amounted to EUR 21.4m (EUR 16.5m in Q2/20), in line with our and consensus estimates (EUR 21.0m Evli/Cons.). Growth in Q2 amounted to 29.6% y/y. Around two-thirds of the growth during H1/21 was inorganic growth and the remainder organic growth.
- Operating profit in Q2 amounted to EUR 4.1m (EUR 3.6m in Q2/20), slightly below our and consensus estimates (EUR 4.3m/4.4m Evli/cons.), at a margin of 19.4%.
- EPS in Q2 amounted to EUR 0.07 (EUR 0.06 in Q2/20), in line with our and consensus estimates (EUR 0.07/0.08 Evli/cons.).
- Talenom’s new customer acquisition recovered to pre-pandemic levels in late spring. The coronavirus pandemic no longer had a significant impact on Talenom’s business during the review period.
- Net investments during H1/21 amounted to EUR 23.5m (H2/2020: EUR 9.0m).
- Piloting of the KontoKalle service – a similar service to the TiliJaska small customer concept in Finland – began in Sweden in the summer.
- Guidance intact (updated 15.4.2021): Net sales in 2021 are expected to amount to EUR 80-84m and operating profit to EUR 14-16m.