ENENTO GROUP PLC

FINANCIAL

STATEMENTS

1.1.-31.12.2020

Building trust in the everyday.

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ENENTO GROUP PLC, STOCK EXCHANGE RELEASE 12 FEBRUARY 2021 AT 12.00 EET

Enento Group's Financial Statement Release 1.1. - 31.12.2020: A year of growth in spite of COVID-19 as new services create future growth potential

SUMMARY

October - December 2020 in brief

  • ▪ Net sales amounted to EUR 40,2 million (EUR 39,2 million), an increase of 2,6 % (at comparable exchange rates an increase of 0,9 %).

  • ▪ Adjusted EBITDA excluding items affecting comparability was EUR 14,4 million (EUR 13,6 million), an increase of 5,5 % (at comparable exchange rates an increase of 3,7 %).

  • ▪ Adjusted EBIT excluding items affecting comparability and amortisation from fair value adjustments related to acquisitions was EUR 11,9 million (EUR 11,6 million), an increase of 3,1 %.

  • ▪ Operating profit (EBIT) was EUR 6,1 million (EUR 7,8 million). Operating profit included items affecting comparability of EUR 5,9 million (EUR 3,8 million), mainly arising from amortisation from fair value adjustments of EUR 3,1 million (EUR 3,0 million) related to acquisitions as well as additional purchase price relating to Proff acquisition based on Arbitration Court ruling and legal fees.

  • ▪ New products and services represented 6,8 % (4,4 %) of net sales.

  • ▪ Free cash flow amounted to EUR 9,1 million (EUR 6,9 million). The effect of items affecting comparability on free cash flow was EUR -2,4 million (EUR -0,7 million).

  • ▪ Earnings per share were EUR 0,15 (EUR 0,23).

  • ▪ Comparable earnings per share were EUR 0,25 (EUR 0,32)1.

January - December 2020 in brief

  • ▪ Net sales amounted to EUR 151,3 million (EUR 146,0 million), an increase of 3,7 % (at comparable exchange rates an increase of 3,2 %).

  • ▪ Adjusted EBITDA excluding items affecting comparability was EUR 54,0 million (EUR 51,5 million), an increase of 4,8 % (at comparable exchange rates an increase of 4,3 %).

  • ▪ Adjusted EBIT excluding items affecting comparability and amortisation from fair value adjustments related to acquisitions was EUR 45,0 million (EUR 42,6 million), an increase of 5,5 %.

  • ▪ Operating profit (EBIT) was EUR 27,8 million (EUR 27,8 million). Operating profit included items affecting comparability of EUR 17,1 million (EUR 14,8 million), mainly arising from amortisation from fair value adjustments of EUR 12,3 million (EUR 11,6 million) related to acquisitions, additional purchase price relating to Proff acquisition based on Arbitration Court ruling as well as M&A and integration expenses.

  • ▪ New products and services represented 5,6 % (4,0 %) of net sales.

  • ▪ Free cash flow amounted to EUR 32,6 million (EUR 32,1 million). The effect of items affecting comparability on free cash flow was EUR -4,4 million (EUR -2,7 million).

  • ▪ Earnings per share were EUR 0,81 (EUR 0,82).

  • ▪ Comparable earnings per share were EUR 1,21 (EUR 1,20)1.

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1 The comparable earnings per share does not contain amortisation from fair value adjustments related to acquisitions or their tax impact.

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KEY FIGURES

EUR million

1.10. - 31.12.2020

1.10. - 31.12.2019

1.1. - 31.12.2020

1.1. - 31.12.2019

Net sales

40,2

39,2

151,3

146,0

Net sales growth, %

2,6

9,1

3,7

48,7

Operating profit (EBIT)

6,1

7,8

27,8

27,8

EBIT margin, %

15,1

19,8

18,4

19,0

Adjusted EBITDA

14,4 35,7

13,6

54,0 35,7

51,5

Adjusted EBITDA margin, %

34,7

35,3

Adjusted operating profit (EBIT)

11,9

11,6

45,0

42,6

Adjusted EBIT margin, %

29,7 6,8

29,5

29,7 5,6

29,2

New products and services of net sales, %

4,4

4,0

Free cash flow

9,1 2,6

6,9

32,6 2,6

32,1

Net debt to adjusted EBITDA, x

2,7

2,9

Net sales, EUR million

  • ▪ The growth of net sales in the fourth quarter of the year was 2,6 % at reported exchange rates and 0,9 % at comparable exchange rates compared with the corresponding quarter of the previous year.

  • ▪ The Digital Processes business area saw very strong growth thanks to new services and the high demand for real estate information services and the digital housing transaction service.

  • ▪ The growth of the Customer Data Management business area, which began in the previous quarter, continued in the fourth quarter, driven by B2C customer management services in Finland.

  • ▪ In the SME and Consumers business area, the strong development of online consumer services continued in both markets, but the total net sales of the business area declined as the sales of offline products decreased in line with expectations.

  • ▪ The demand for the Risk Decisions business area's consumer-related risk management services again declined year-on-year in the final quarter.

Adjusted EBITDA, EUR millionAdjusted operating profit (EBIT), EUR millionNew services' share of net sales, %

  • ▪ The growth of adjusted EBITDA in the fourth quarter was 5,5 % at reported exchange rates and 3,7 % at comparable exchange rates compared with the corresponding quarter of the previous year.

  • ▪ Adjusted EBITDA increased year-on-year, in spite of the moderate development of net sales, by cost synergies and the savings programme which was implemented as planned in response to the economic uncertainty caused by the COVID-19 pandemic.

  • ▪ Adjusted EBITDA margin was 35,7 % (34,7 %).

  • ▪ Compared with the reference period, adjusted operating profit (EBIT) for the fourth quarter increased by 3,1 % at reported exchange rates and 1,3 % at comparable exchange rates.

  • ▪ Amortisation related to capitalised development costs increased from the comparison period by EUR 0,4 million.

  • ▪ Adjusted EBIT margin was 29,7 % (29,5 %).

  • ▪ New services accounted for 6,8 % of net sales in the fourth quarter.

  • ▪ As planned, the share of net sales represented by new services increased in 2020 and amounted to 5,6 % for the review period as a whole.

  • ▪ The Group has remained active in making service development investments in spite of the impacts of the coronavirus pandemic, and the investments are focused on the priorities outlined in the revised strategy.

  • ▪ A total of 9 new services were launched in the fourth quarter.

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Enento Group Oyj published this content on 12 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 February 2021 10:47:05 UTC.