Innofactor Plc's Interim Report for January 1–March 31, 2020 (IFRS)

Innofactor Plc's Interim Report May 5, 2020, at 9:00 Finnish time

 

Record EBITDA in the first quarter

 

January–March 2020 in brief:

• The net sales were approximately EUR 17.2 million (2019: 16.1), which shows an increase of 6.2%
• EBITDA was approximately EUR 2.0 million (2019: 0.9), which shows an increase of 125%
• The operating profit was approximately EUR 0.8 million (2019: -0.09), which shows an increase of EUR 0.9 million
• The order backlog at the end of the review period was EUR 54.1 million (2019: 41.0), which shows an increase of 32%
• Innofactor got several significant orders in the first quarter, for example,
  • The KOSTI project of the Legal Register Centre, approximately EUR 2.2 million (not yet in the order backlog at the end of the review period)
  • The further development of the HAIPA project for the Legal Register Centre, approximately EUR 2.2 million
  • The further development of HUS Health Village, approximately EUR 2.0 million
  • The case management solution for KELA, approximately EUR 1.1 million (not yet in the order backlog at the end of the review period)
  • The Ullensaker municipality in Norway, approximately EUR 1.0 million
  • A Finnish trading company, approximately EUR 0.7 million

.	Jan 1–March 31, 2020	Jan 1–March 31, 2019	Change
Net sales, EUR thousand	17,152	16,148	6.2%
Growth of net sales	6.2%	-2.0%
Operating result before depreciation and amortization (EBITDA), EUR thousand*	1,957	869	125.2%
percentage of net sales*	11.4%	5.4%
Operating profit/loss (EBIT), EUR thousand**	816	-90	1009.0%
percentage of net sales*	4.8%	-0.6%
Earnings before taxes, EUR thousand***	-123	-197	37.2%
percentage of net sales*	-0.7%	-1.2%
Earnings, EUR thousand*	204	-88	332.2%
percentage of net sales*	1.2%	-0.5%
Order backlog	54,091	41,029	31.8%
Net gearing*	60.6%	89.2%
Net gearing without IFRS 16	37.3%	65.6%
Equity ratio***	43.5%	40.0%
Equity ratio without IFRS 16	48.5%	43.7%
Active personnel on average during the review period****	541	544	-0.6%
Active personnel on average at the end of the review period****	542	541	+0.2%
Earnings per share (EUR)	0.0054	-0.0024	324.7%

*) The handling of lease liabilities in accordance with IFRS 16 had a positive effect of EUR 504 (2019: 300) thousand in the operating margin (EBITDA) in January 1–March 31, 2020.