Talenom Oyj: Inside information, profit warning: Talenom lowers its net sales and operating profit guidance and specifies its EBITDA guidance for 2024

Talenom Plc, inside information 9 October 2024 at 8:55 EEST

Inside information, profit warning: Talenom lowers its net sales and operating profit guidance and specifies its EBITDA guidance for 2024

The prolonged economic downturn especially in Finland has affected Talenom's net sales more than expected, and we have made fewer acquisitions than planned. The downturn is usually seen with a delay in the accounting services industry. These factors have had a negative impact on the company's net sales and profitability.

We have decided on a new strategy to return to the path of faster growth. In this context, we organize our activities to correspond with the new strategy.

New guidance for 2024:

Talenom estimates that 2024 net sales will be EUR 126-129 million, EBITDA EUR 34-37 million and operating profit EUR 11-14 million.

The new guidance also considers the non-recurring costs of the updated strategy and reorganization.

Previous guidance for 2024 (issued on 1 February 2024, reiterated on 19 July 2024):

Talenom estimates that 2024 net sales will be about EUR 130-140 million, EBITDA EUR 34-40 million and operating profit EUR 14-17 million.

Talenom Plc
Board of Directors

Further information:

Otto-Pekka Huhtala
CEO, Talenom Plc
[phone]
[e-mail]

Talenom in brief
Talenom is an agile and progressive accounting firm established in 1972. Our business idea is to help entrepreneurs succeed by making their daily lives easier with the market's easiest-to-use digital tools and highly automated personal services. In addition to comprehensive accounting services, we support our customers' business with a wide range of expert services and our partners' services. Our vision is to be the preferred partner in financial management.

Talenom's growth history is strong - average annual net sales growth was approximately 17% between 2005 and 2023. In 2023, Talenom's net sales was some EUR 122 million and the company had 1,560 employees in Finland, Sweden, Spain and Italy at the end of the year. Talenom's share is quoted on the Main Market of Nasdaq Helsinki. Read more: investors.talenom.com/en