Innofactor as an Investment

Leading Nordic Provider of Digitalization and Cloud Solutions

Innofactor is a leading Nordic provider of digitalization and cloud solutions. Innofactor has Microsoft Ecosystem’s leading expertise and the most comprehensive offering in the Nordics. Innofactor has over 600 eager and motivated top professionals in Finland, Sweden, Denmark and Norway. Innofactor serves over 1,500 commercial, public, and third sector organizations. In 2012 to 2016, the annual growth of Innofactor’s net sales has been approximately 28%. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Ltd.

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Innofactor Q3 2017

July–September 2017 in brief:

  • The net sales were approximately EUR 13.9 million (2016: 11.8), which shows an increase of 18%.
  • The operating margin was approximately EUR -0.9 million (2016: 0.9), which shows a decrease of 202.1%. The weaker than expected profitability was contributed to by the lower than expected net sales and the fact that the results from the Danish business operations were significantly less than expected.
  • The operating loss was EUR 1.5 million (2016: operating profit 0.3), decreasing by 707.9%. The operating loss was affected by increased write-offs related to acquisitions, in accordance with IFRS 3, resulting in a decrease of EUR 507 thousand (2016: 455) in the operating profit.
  • The weaker than expected profitability was affected by the weaker than expected net sales, which was due to, for example, delays in starting many customer projects after the summer, due to reasons related to customers, especially in Finland. Also, in Denmark and Sweden we were forced to register some losses on customer projects.

January–September 2017 in brief:

  • The net sales were approximately EUR 48.9 million (2016: 41.6), which shows an increase of 17.5%.
  • The operating margin was approximately EUR 1.2 million (2016: 2.8), which shows a decrease of 59.3%.
  • The operating loss was approximately EUR 0.9 million (2016: operating profit 1.0), decreasing by 185.2% due to increased write-offs related to acquisitions, in accordance with IFRS 3, resulting in a decrease of EUR 1,522 thousand (2016: 1,365).
  • Innofactor received several significant orders during the first half of the year. For example, the Unemployment Insurance Fund (TVR) for approximately EUR 1.0 million, the Hospital District of Helsinki and Uusimaa (HUS) for approximately EUR 1.8 million, IF Metall (in Sweden) for approximately EUR 0.6-4 million, a Finnish service company for approximately EUR 0.5 million, and the Finnish Red Cross for approximately EUR 0.6 million.

Investor Relations

Sami Ensio
President and CEO
sami.ensio@innofactor.com
+358 50 584 2029