Dovre Group Plc Inside information February 26, 2025, at 11.30 am
Dovre Group publishes preliminary financial information concerning the businesses sold to NYAB AB
Dovre Group completed the sale of its Project Personnel and Norwegian Consulting businesses to NYAB AB on January 2, 2025. To facilitate NYAB AB's release of pro forma financials of the NYAB AB group including the sold businesses, Dovre releases preliminary and unaudited financial information concerning the same.
As described in our Stock Exchange Release on January 2, 2025, the preliminary purchase price was determined as follows:
The preliminary purchase price paid on closing was approximately 35.3 MEUR. The preliminary purchase price was determined on the basis of the estimated FY2024 adjusted EBIT of the sold businesses of 4.3 MEUR (as estimated on 20 November 2024) multiplied by 7 plus compensation for estimated net cash and adjustment for the estimated working capital position as of 31 December 2024 (as estimated on the basis of the pro forma financials as at 30 November 2024).
The key financial figures presented below concern the sold businesses, i.e. global Project Personnel and the Norwegian Consulting business. We want to highlight that the figures presented here are not identical with the ones that are used in determining the above-mentioned purchase price. Firstly, the purchase price calculation is based on entity level figures of the sold entities and does not include group level IFRS adjustments. Secondly, there are also some administrative cost elements taken into account in the adjusted EBIT used in determining the purchase price, which do not affect the figures below.
The Pro Forma figures presented simultaneously by NYAB differ from those below particularly because these figures are IFRS adjusted.
| Sold businesses 2024 | |
| Revenue, EUR thousand | 112,460 |
| EBITDA, EUR thousand | 4,911 |
| Operating profit (EBIT), EUR thousand | 4.281 |
| EBIT margin | 3.8% |
| Net profit, EUR thousand | 3.846 |
The sold businesses are classified in the financial statement 2024 by Dovre Group as assets held for sale and discontinued operations according to IFRS 5. This means that in the consolidated profit and loss statement 2024 the net profit from the discontinued operations will be presented on a single line below the result of the continued operations. The previous year figures will also be adjusted accordingly. In the company's consolidated balance sheet 2024, the assets and liabilities of these discontinued operations will also be presented separately on single lines.
For more information, please contact
Dovre Group Plc
Sanna Outa-Ollila, Acting CEO
Tel. +358 20 436 2000
sanna.outa-ollila@dovregroup.com
Dovre Group is a provider of renewable energy project development and construction projects in wind, solar, battery energy storage systems and heat pump facilities in the Nordic countries through Group companies Suvic Oy and Renetec Oy. In addition, Proha Oy provides project management software with related services and eSite provides industrial virtual reality services. The estimated sales for the Group in 2024 were approximately 99 MEUR and it employs approximately 200 people. Website: www.dovregroup.com
Distribution:
Nasdaq Helsinki Ltd
Major media
www.dovregroup.com
