Pihlajalinna - Figures above estimates
Pihlajalinna’s Q1 revenue came in 4% above estimates and helped profitability land some EUR 3m higher than was expected.
- Q1 revenue grew by 16.6% y/y to EUR 163.1m, compared to the EUR 156.6m/156.7m Evli/consensus estimates. Corporate customer revenue was EUR 49.3m vs the EUR 44.6m/44.6m Evli/consensus estimates, while private customers amounted to EUR 22.8m vs the EUR 22.6m/24.1m Evli/consensus estimates. Public sector customers were EUR 109.2m, compared to the EUR 107.8m/105.2m Evli/consensus estimates. Inorganic growth contributed EUR 15.9m while organic growth was EUR 7.3m, or 5.2%.
- Covid-19 services revenue amounted to EUR 8.1m.
- Adjusted EBITDA was EUR 16.5m vs the EUR 13.1m/12.1m Evli/consensus estimates, while adjusted EBIT landed at EUR 5.9m, compared to the EUR 3.3m/3.5m Evli/consensus estimates.
- Pihlajalinna guides revenue to increase substantially and adjusted EBITA to remain flat (unchanged).