Q1: ON ORGANIC GROWTH PATH
January - March in brief
- Net sales increased by 15% to
EUR 49.2 (42.8) million - Organic net sales grew by 7 (0) %
-
Adjusted EBITA was
EUR 5.2 (4.7) million, or 10.6% (11.0%) of net sales -
The order book increased by 29% to
EUR 172 (133) million - Leverage (net debt / adjusted EBITDA) remained at the same level and was 1.5x (1.4x)
- In the client survey conducted at the beginning of the year, the willingness to recommend remained at a good level, in addition to which 94% of respondents would re-select Sitowise as their supplier.
-
Sitowise acquired the Swedish infrastructure design agency
Mavacon AB and completed the acquisition ofVRT Finland Oy's business regarding 3D construction inspection.
CEO
In the first quarter, Sitowise's net sales developed favorably in both
The continued recovery in the market since last year was reflected by increased tenders in January-March, and due to active sales efforts, our order book remained at a historically high level across all business areas. Among the most significant orders were the planning of the Liminka-Oulu double-track railway in northern
The consequences of the war in
Various countries are currently reviewing and revising their national budgets accordingly. Regarding some projects, these realignments may lead to delays, but at the same time significant new opportunities will arise for Sitowise in all business areas. The crisis has made it clear to everyone that the crucial green transition needs to be accelerated, which has sped up the planning of related projects. This represents a significant opportunity for us, as Sitowise wants to be the industry's most responsible partner in developing a prosperous living environment and investing in the development of sustainable services.
During the first quarter of the year, we announced one new acquisition in
Our client survey conducted at the beginning of the year confirmed that Sitowise's expertise is appreciated. We have steadily strengthened our image as an industry leader and developer of new and innovative solutions. Our clients also trust us: 94% say they would re-select Sitowise as their supplier. As the new CEO, I am proud to continue building that trust together with our whole personnel.
Key figures
EUR million | 1-3/2022 | 1-3/2021 | 1-12/2021 |
Net sales | 49.2 | 42.8 | 179.3 |
EBITA, adjusted | 5.2 | 4.7 | 21.1 |
% of net sales | 10.6% | 11.0% | 11.8% |
EBITA | 3.5 | 4.1 | 18.5 |
Result for the period | 1.1 | -0.8 | 7.9 |
Cash flow from operating activities before financial Items and taxes | 7.0 | 5.2 | 22.8 |
Net debt | 33.4 | 30.5 | 30.9 |
Net debt / EBITDA, adjusted | 1.5x | 1.4x | 1.4x |
Equity ratio, % | 47.2% | 46.0% | 46.0% |
Earnings per share (EPS), EUR | 0.03 | -0.02 | 0.22 |
Number of personnel, average | 2,044 | 1,910 | 1,969 |
Market outlook
The stable growth in the demand of design and consulting services to create sustainable societies is supported by megatrends such as urbanization, renovation backlog, sustainability, and digitalization.
During the first quarter of the year, demand across all our business areas remained strong. However,
the uncertainty in the market brought by the war in
Guidance (unchanged)
Long-term financial targets (unchanged)
The Board of Directors of
- Growth: Annual growth in net sales of more than 10 percent, including acquisitions;
- Profitability: Adjusted EBITA margin of at least 12 percent;
- Leverage: Net debt / adjusted EBITDA should not exceed 2.5x, except temporarily in conjunction with acquisitions; and
- Dividend policy: Sitowise targets paying a dividend corresponding to 30-50 percent of net profit.
Main events after period-end
The Annual General Meeting was held on
At the inaugural meeting following the Annual General Meeting, the Board elected Eero Heliövaara as its Chair and
Heikki Haasmaa started as the Group's new CEO on
Financial calendar
Planned publication dates for the
- Half-year Report, January -
June 2022 , on17 August 2022 -
Interim Report, January -
September 2022 , on2 November 2022
Briefing for analysts, media, and investors
Sitowise's CEO
Webcast
The briefing will be streamed at https://sitowise.videosync.fi/2022-q1-results. Written questions can be submitted through the webcast. Presentation material and a recording of the event will be available afterwards at www.sitowise.com/investors/reports-and-presentations.
Conference call
It is also possible to dial-in to the briefing 5-10 minutes before the start of the event by calling a number below and entering the PIN code attached:
Finland Toll-Free: 0800 523 163 PIN: 58063357#
Finland Toll: +358 9 8171 0310 PIN: 58063357#
United Kingdom Toll-Free: 0800 358 9473, PIN: 58063357#
United Kingdom Toll: +44 3333 000 804, PIN: 58063357#
US Toll-Free: +1 855 85 70686, PIN: 58063357#
US Toll: +1 6319 131 422, PIN: 58063357#
Sweden Toll-Free: 0200 883 685, PIN: 58063357#
Sweden Toll: +46 856 642 651, PIN: 58063357#
International access numbers and further instructions available here.
Additional information
Heikki Haasmaa, CEO, heikki.haasmaa@sitowise.com, +358 50 304 7765
Minttu Vilander, Chief Communications and Corporate Responsibility Officer, minttu.vilander@sitowise.com, +358 40 575 6660
Sitowise in brief
Sitowise is a Nordic expert in the built environment and digital solutions. We provide design and consulting services to enable more responsible and smarter urban development as well as smooth transportation. We operate in three business areas in
We want to raise the bar for intelligence and sustainability, and that is why our vision is to be the most responsible partner in developing thriving and sustainable living environments. Sitowise has grown rapidly and profitably in recent years. The Group's net sales in 2021 was approximately
This release is a summary of
The figures in the interim report are unaudited. Comparative figures for the corresponding period of the previous year are in brackets. This report has been published in Finnish and English. If there are any differences between the English translation and the original Finnish version, the Finnish report shall prevail.
https://news.cision.com/sitowise/r/sitowise-s-interim-report-january-march-2022--on-organic-growth-path,c3569320
https://mb.cision.com/Main/20385/3569320/1581206.pdf
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