News
23 November 2022
Adjusted EBITDA decreased due to weakening demand, additional measures taken to support reaching financial targets

Purmo Group Plc, stock exchange release, 10 November 2022 at 08.15 EET

July–September 2022

  • Net sales were stable and reached EUR 216.3 million (218.5). Organic1) decline of 5 per cent.
  • Net sales for ICS increased by 24 per cent to EUR 106.2 million (85.8) and net sales for Radiators declined by 17 per cent to EUR 110.1 million (132.6).
  • Adjusted EBITDA decreased by 23 per cent to EUR 19.6 million (25.4), corresponding to an adjusted EBITDA margin of 9.1 per cent (11.6).
  • EBIT was EUR 10.5 million (8.9), which included EUR 1.0 million (8.6) of comparability adjustments.
  • Cash flow from operating activities was EUR -2.2 million (-2.4).

January–September 2022

  • Net sales improved by 12 per cent to EUR 697.5 million (621.0). Organic growth1) was 8 per cent.
  • Adjusted EBITDA decreased by 6 per cent to EUR 76.6 million (81.3), corresponding to an adjusted EBITDA margin of 11.0 per cent (13.1).
  • EBIT was EUR 40.5 million (45.3), which included EUR 12.1 million (12.5) of comparability adjustments.
  • Cash flow from operating activities was EUR -9.1 million (3.2).
  • The acquisition of Thermotech was completed on 1 March 2022

For full details, visit investors.purmogroup.com