Netum Group Plc: Insider information, profit warning

Netum Group Plc     Insider information   15 December 2022 at 1:00 p.m. EET

Netum Group Plc: Insider information, profit warning

Netum Group Plc lowers its earnings estimate for the year 2022 and expects its 2022 EBITA to be approximately 9–10% 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 approximately 12–14 % of revenue in the financial year 2022. The company's profitability estimate is lowered due to larger than expected investments in growth and personnel made in 2022 and the general cost increase which is passed on to customer prices with a delay. 

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 financial statements release for 2022 on Tuesday 7 March 2023.

New guidance: 

Netum expects its revenue to grow at least 30% from the previous year and EBITA to be approximately 9–10 % 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. As the crisis has continued, there have been strong negative effects on the global economy 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 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. 

 

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

Certified advisor: 
Evli Bank Plc 
+358 40 579 6210 

Netum Group in brief 

Netum Group Plc is a profitably growing IT services company 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, system continuity services, integration services, cyber security services as well as management consulting services. Additionally, the company offers 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 270 employees in Finland. 

www.netum.fi/