Enedo Plc Publishes Business review January 1 – March 31, 2023 - Positive net profit enabled by strong orderbook and improvements in logistics

ENEDO PLC   Business Review May 4th, 2023 at 8:00

• Enedo Plc Publishes Business review January 1 – March 31, 2023 - Positive net profit enabled by strong orderbook and improvements in logistics
  
  

Business Review figures are unaudited.

January-March 2023 highlights

• Net sales increased by 8% vs same period last year and amounted to EUR 11,3 million (EUR 10,4 million).
• Ebitda was positive with EUR 1,1 million (EUR 0,8 million), an increase of EUR 0,32 million.
• Operating profit was 0,5 MEUR (EUR 0,0 million).
• Net profit was EUR 0,1 million (EUR – 0,3 million).
• Orderbook at the end of Q1 2023 was EUR 38,6 million (EUR 34,1 million).
• The shortage of components delaying certain deliveries.
• Eur 1,3 million shareholder loan raised from Inission AB
• Inission AB owns currently 95,85% of the shares in Enedo
• Enedo's board of directors has decided on March 8, 2023 to apply for the delisting of its shares from the Nasdaq Helsinki stock exchange list.
  
  

Key Figures

	1-3/23	1-3/22	1-12/22
MEUR	3mo	3mo	12mo
Net sales	11,3	10,4	46,8
Ebitda	1,1	0,8	3,2
Operating profit	0,5	0,0	0,3
Net profit for the period	0,1	-0,3	-1,1

CEO’s comments

Net sales for the first quarter were EUR 11,3 million growing 8% compared with EUR 10,4 million net sales a year ago. The growth is driven by a high demand for all of our product categories. The order intake continued stable which led to very good orderbook of EUR 38,6 million, a growh of 13% compared to same period last year. The operating profit has been been improving by EUR 0,5 million in the first quarter versus previous year, and EUR 1,8 million versus the first quarter 2021, meaning a significant improvement driven by the global turnaround project, and despite higher R&D costs taken for the development of a new product platform of Power Supplies.