Talenom - Solid profitability figures once again
Talenom's net sales grew 10.0% in Q3 to EUR 14.8m, slightly below our and consensus estimates (EUR 15.3/15.2m Evli/cons.). EBIT amounted to EUR 3.1m, above our and consensus estimates (EUR 2.6m/2.8m Evli/cons.). Guidance remains intact, net sales for 2020 are expected to amount to EUR 64-68m and operating profit to EUR 12-14m.
- Net sales in Q3 amounted to EUR 14.8m (EUR 13.5m in Q3/19), slightly below our and consensus estimates (EUR 15.3m/15.2m Evli/Cons.). Growth in Q3 amounted to 10.0% y/y.
- Operating profit in Q3 amounted to EUR 3.1m (EUR 2.4m in Q3/19), above our and consensus estimates (EUR 2.6m/2.8m Evli/cons.), at a margin of 21.2%.
- EPS in Q3 amounted to EUR 0.05 (EUR 0.04 in Q3/19), in line with our and consensus estimates (EUR 0.04/0.05 Evli/cons.).
- Net sales growth was slightly weakened by the impact of the pandemic on transactional volumes, but cost adjustments aided profitability.
- Talenom launched its new small customer concept, TiliJaska, aimed to be launched also next year in Sweden. Talenom also launched the Talenom Light Entrepreneur service, a service platform catering the needs for customers ranging from part-time light entrepreneurs to listed companies.
- Talenom clarified its long-term vision, seeking to broaden its offering to an increasing extent also towards banking services, supported by digital transformation and legislative changes.
- Guidance intact: Net sales for 2020 are expected to amount to EUR 64-68m and operating profit to EUR 12-14m.
Open Report