Company Release, Inside Information, Solwers Plc, February 1, 2025, at 18:00 EET
Solwers Plc anticipates, based on preliminary an unaudited information, that the Group's IFRS EBIT for the last quarter of 2024 is close to zero, while in the previous year's comparison period 2023, the Group's IFRS EBIT was 1.45 million euros.
According to the Company's understanding, the level of IFRS EBIT is lower than what can be reasonably concluded from the Company's previously published information. In addition, the level deviates from the analyst consensus.
"Our order backlog is on a good footing and our revenue has increased compared to the previous year's comparison period. The end of 2024 was burdened by non-recurring items such as changes in conditional purchase prices, write-downs of doubtful receivables and preparations related to a possible main list transition. The low number of billable hours in December and intense price competition also contributed to the profitability of the rest of the year," states Stefan Nyström, the CEO of Solwers Plc.
According to preliminary and unaudited information, Solwers' Q4 revenue is between EUR 21-22 million, while the corresponding figure for Q4 2023 was EUR 19.0 million.
The Company has not and does not provide a numerical guidance. As previously announced, Solwers will publish its financial statement release for January-December 2024 on Thursday, February 27, 2025, at approximately 9:00 am EET.
Previously, on November 29, 2024, the company had repeated the outlook for 2024 as follows:
Solwers' outlook for 2024 remains unchanged and in accordance with the Financial Statements Release published on March 11, 2024.
Solwers' business is supported by the megatrend of urbanization, the green transition in Europe, tightening regulation on biodiversity, self-sufficiency in energy production, and especially in Sweden the increased orders of the defence equipment industry which create new business opportunities.
In the ongoing year 2024 the acquisitions continue to support our existing business. We focus on areas where new production and investments are booming such as energy, automation, and power transmission.
Solwers has a good order backlog in the public sector and infrastructure projects and long assignments also in hospital and school design projects. The company has a wide client base and a diverse service portfolio - around 70 per cent are small, under EUR 10 000 projects. In addition, we continue to manage business risk by operating in multiple locations in at least two countries.
Solwers' business climate is expected to improve towards the end of 2024 with the general market pick-up.
Certified Advisor: UB Corporate Finance Oy, ubcf@unitedbankers.fi
Distribution:
- Nasdaq Helsinki
- Key media
- www.solwers.com
Enquiries:
Stefan Nyström, CEO, Solwers Plc, p. +358 40 733 6145, stefan.nystrom@solwers.fi
Solwers Plc in brief:
Solwers is a group of consultancy companies that offer architectural design, technical and other consulting as well as project management services locally, close to clients. Solwers' strategy is based on acquisitions and organic growth, the group's attractiveness as a good employer for professionals in different fields and the continuous development of expertise. 29 operative Solwers companies employ around 700 experts in Finland and Sweden. The Company has decided on expansion into Poland and is exploring potential acquisition targets in the region.
www.solwers.com
