Solid earnings and strategy execution on track
- Net sales improved by 16 per cent to EUR 245.0 million (212.1). Organic growth1) was 10 per cent.
- Adjusted EBITDA improved by 4 per cent to EUR 27.8 million (26.8), corresponding to an adjusted EBITDA margin of 11.4 per cent (12.6).
- EBIT was EUR 15.9 million (17.7), which included EUR -3.6 million (-1.0) of comparability adjustments.
- Cash flow from operating activities was EUR 32.0 million (12.6)
- Net sales improved by 20 per cent to EUR 481.2 million (402.5). Organic growth1) was 15 per cent.
- Adjusted EBITDA improved by 2 per cent to EUR 57.0 million (55.9), corresponding to an adjusted EBITDA margin of 11.9 per cent (13.9).
- EBIT was EUR 30.0 million (36.4), which included EUR -11.1 million (-3.9) of comparability adjustments.
- Cash flow from operating activities was EUR -6.9 million (5.6)
- The acquisition of Thermotech was completed on 1 March 2022
The half-year report has been published today and is available in English and Finnish on Purmo Group’s website at https://investors.purmogroup.com/ir-material/
Financial guidance for 2022
Purmo Group reiterates its financial guidance for 2022: For 2022, Purmo Group expects net sales to increase from 2021 (EUR 843.6 million). Adjusted EBITDA is expected to be comparable to 2021 (EUR 103.9 million). Comparable means a change within +/- 5 per cent from the previous year.
CEO John Peter Leesi and CFO Erik Hedin will present the results to analysts, investors and media representatives in a live webcast at https://purmogroup.videosync.fi/half-year-report-2022/ on Thursday 11 August 2022 at 10:00 Finnish time (EEST). The event, including the Q&A session, will be held in English.
The webcast can also be attended via teleconference. To participate in the teleconference, participants are asked to dial in at least 5 minutes before the start of the event using one of the following telephone numbers and teleconference pin:
Finland Toll: +358 (0)9 7479 0572
Sweden Toll: +46 (0)8 5664 2754
United Kingdom Toll: +44 (0)330 165 3641
United States Toll: +1 646-828-8082
Teleconference PIN: 996752#
A recording of the event will be available on https://investors.purmogroup.com/ir-material/shortly after the event has ended.