Talenom - Quite in line with expectations
Talenom's net sales in Q2 amounted to EUR 16.5m, slightly below our and consensus estimates (EUR 17.2m Evli/cons.). EBIT amounted to EUR 3.6m, in line with our and consensus estimates (EUR 3.7m 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 Q2 were EUR 16.5m (EUR 14.8m in Q2/19), slightly below our and consensus estimates (EUR 17.2m Evli/Cons.). Growth in Q2 amounted to 11.8% y/y.
- Operating profit in Q2 amounted to EUR 3.6m (EUR 3.2m in Q2/19), in line with our and consensus estimates (EUR 3.7m Evli/cons.), at a margin of 21.8%.
- EPS in Q2 amounted to EUR 0.06 (EUR 0.05 in Q2/19), in line with our and consensus estimates (EUR 0.06/0.07 Evli/cons.).
- Sales and relative profitability in Q2 were affected by lower transaction-based invoicing and lower relative profitability of acquired businesses.
- New sales have continued in the upper range of company expectations but below targets set before the coronavirus pandemic. Customer business defaults during Q2 developed as expected while transaction-based invoicing has been in the lower range of company estimates.
- Guidance intact: Net sales for 2020 are expected to amount to EUR 64-68m and operating profit to EUR 12-14m.