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Talenom - In line with expectations

Talenom's net sales in Q1 grew 17.0% to EUR 20.3m, in line with our and consensus estimates (EUR 19.9m/20.3m Evli/cons.). EBIT amounted to EUR 4.4m, in line with our and consensus estimates (EUR 4.4m/4.3m Evli/cons.).
  • Net sales in Q1 amounted to EUR 20.3m (EUR 17.4m in Q1/20), in line with our and consensus estimates (EUR 19.9m/20.3m Evli/Cons.). Growth in Q1 amounted to 17.0% y/y.
  • Operating profit in Q1 amounted to EUR 4.4m (EUR 3.7m in Q1/20), in line with our and consensus estimates (EUR 4.4m/4.3m Evli/cons.), at a margin of 21.7%.
  • EPS in Q1 amounted to EUR 0.08 (EUR 0.07 in Q1/20), in line with our and consensus estimates (EUR 0.08 Evli/cons.).
  • The development of the organic growth and profitability of the accounting business in Finland during Q1, without the effect of acquisitions, was according to Talenom once again excellent.
  • Net investments during Q1/21 amounted to EUR 9.8m (Q1/2020: EUR 4.1m).
  • 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.
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