8.8.2022 09:30:01 EEST | Netum Group Oyj | Investor News

Netum Group Plc      Insider information                     8 August 2022 at 9:30 a.m. EEST

Netum Group Plc provides preliminary information on January–June 2022 result and lowers its earnings estimate

In January–June 2022, Netum Group Plc’s revenue grew 47.8% from the previous year and amounted to EUR 15.4 (10.4) million. In January–June 2022, EBITA was EUR 1.7 (1.8) million or 11.2 (17.1) % of revenue.

Netum Group Plc lowers its earnings estimate for the year 2022 and expects its 2022 EBITA to be approximately 12–14 % of revenue. The Group’s revenue estimate for 2022 is intact. The company expects its revenue to grow at least 30% from the previous year.

Previously the company estimated its EBITA to be over 14% in the financial year 2022. The company's profitability estimate is lowered due to the larger than expected investments in personnel growth made in the first half of 2022, a higher than usual volume of subcontracting, sick leaves caused by the coronavirus and the general cost increase.

Netum’s medium-term financial targets are intact. The company aims to achieve a revenue of EUR 50 million by 2025 and to achieve an EBITA of at least 14 per cent annually.

The company will publish its half-year report for 2022 on 16 August 2022.

New guidance:

Netum expects its revenue to grow at least 30% from the previous year and EBITA to be approximately 12–14 % of revenue in the financial year 2022.

The estimate is based on the positive demand outlook for the Group's products and services. In particular, the demand for digital services development and data and analytics services as well as for cyber security services is expected to grow.

Russia's attack to Ukraine has created political and economic threats. If the crisis continues, there could be strong negative effects on the global economy and, consequently, on the demand for our services and on the general cost level.

Previous guidance:

Netum expects its revenue to grow at least 30% from the previous year and EBITA to be over 14% in the financial year 2022.

The estimate is based on the positive demand outlook for the Group’s products and services. In particular, it is expected that digital services development and the demand for data and analytics services as well as for cyber security services will grow.

Russia's attack to Ukraine has created political and economic threats. If the crisis continues, it can have a strong impact on the global economy and, consequently, negative effects on the demand for our services.

For additional information, please contact:
Netum Group Plc
Matti Mujunen, CEO
+358 40 047 6401
matti.mujunen@netum.fi

Certified advisor:
Evli Pankki Oyj
Tel: +358 40 579 6210

Netum Group in brief

Netum Group Plc is a profitably growing IT services house with over 20 years of experience of demanding IT projects. The company offers its public administration and corporate customers its ”Legacy to Digi®” concept. This concept enables combining traditional IT solutions with the latest digital applications safely and in a responsible way. Netum’s goal is to be the most trusted partner and the preferred employer in the industry. Netum’s services include digital service development, continuity services, integration services, cyber security services as well as management consulting services. Additionally, the company offers two applications as SaaS: the electronic message validator “Truugo” and the IT asset management system “Netum DUX”. In 2021, Netum Group’s revenue was EUR 22.4 million, and the company currently has over 230 employees in Finland.
www.netum.fi

Contacts

  • Matti Mujunen, Toimitusjohtaja, CEO, +358 40 047 6401, matti.mujunen@netum.fi

About Netum Group Oyj

Netum Group Oyj is a profitably growing IT services company with over 20 years of experience in demanding IT projects. The company offers its public administration and corporate customers with its “Legacy to Digi®” concept. This concept enables combining traditional IT solutions with the latest digital applications safely and in a responsible way. Netum's goal is to be the most trusted partner and the preferred employer in the industry. Netum's services include digital service development, system continuity services, integration services, cyber security services as well as management consulting services. Additionally, the company offers two applications as SaaS: the electronic message validator “Truugo” and the IT asset management system “Netum DUX”. In 2021, Netum Group’s revenue was EUR 22.4 million, and the company currently has over 230 employees in Finland.

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