Netum Group Plc revises its guidance for 2021 revenue and earnings

24.1.2022 17:00:01 EET | Netum Group Oyj | Company Announcement

Netum Group Plc        Insider information      24 January 2022 at 5:00 p.m. EET
Profit warning

Netum Group Plc revises its guidance for 2021 revenue and earnings

Netum Group Plc increases its estimate for revenue for the year 2021 and expects its 2021 revenue to be slightly over EUR 22 million (previous guidance EUR 20–22 million). Comparable EBITA is expected to be approximately EUR 3.1 million (previous guidance EUR 3.1–3.5 million).

The reason for the increased revenue forecast is the integration of Cerion Solutions Oy into Netum Group as of 1 October 2021 and stronger than expected organic revenue growth. Profitability was reduced by frontloaded recruitments and, on a non-recurring basis, by the lower than expected profitability of a fixed-price customer project.

Netum Group has been very successful in recruiting new employees. During 2021, the company's personnel increased by approximately 90 employees, 38 of whom came in connection with the acquisition of Cerion Solutions Oy. Thanks to strong recruitment, the company can meet growing customer demand.

New guidance:

Netum expects revenue to be slightly over EUR 22 million and comparable EBITA to be approximately EUR 3.1 million in the financial year 2021.

Previous guidance:

Netum expected revenue to grow to EUR 20–22 million and comparable EBITA to be EUR 3.1–3.5 million in the financial year 2021.

The company will publish its financial statements release for 2021 on 8 March 2022.

For additional information, please contact:
Netum Group Plc
Matti Mujunen, CEO
[phone]
[e-mail]

Certified advisor:
Evli Pankki Oyj
Tel: [phone]

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 2020, Netum Group’s revenue was EUR 17.5 million, and the company currently has over 200 employees in Finland.
www.netum.fi

Contacts

• Matti Mujunen, Toimitusjohtaja, CEO, [phone], [e-mail]

About Netum Group Oyj

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 2020, Netum Group’s revenue was EUR 17.5 million, and the company currently has over 200 employees in Finland.

© STT Info Finland, source STT Info English Regulatory Releases