Talenom - Guiding continued strong growth
Talenom’s fourth quarter results were quite in line with our expectations. Net sales amounted to EUR 12.5m (EUR 12.6m Evli) while the operating profit beat our estimates slightly, at EUR 1.5m (EUR 1.3m Evli). The dividend proposal for 2018 is EUR 0.55 per share (EUR 0.50 Evli). Talenom expects net sales growth to continue at a similar pace as in 2018 (18.0%) and the operating profit margin to improve slightly compared to 2018.
- Net sales in Q4 were EUR 12.5m (EUR 10.7m in Q4/17), in line with our estimates (Evli EUR 12.6m). Growth in Q4 amounted to 16.5% y/y.
- The revenue from additional services in Q4 amounted to EUR 3.4m, with a growth of 62.8%.
- Operating profit in Q4 was EUR 1.5m (EUR 0.9m in Q4/17), above our estimates (Evli EUR 1.3m), at a margin of 11.8 %. Talenom had pre-Q4 guided 2018 operating profit to be in the range of EUR 8.2-8.7m, with actual 2018 figures at EUR 8.5m
- Dividend proposal: Talenom proposes a dividend of EUR 0.55 per share (Evli EUR 0.5).
- Guidance for 2019: Talenom expects net sales growth to continue at a similar pace as in 2018 (18.0%) and the operating profit margin to improve slightly compared to 2018.
- Net investments during 2018 amounted to EUR 9.5m compared to EUR 7.4m in 2017.