Digitalist Group Plc’s Business Review, 1 January – 30 September 2021
29 Octubre 2021 - 01:00AM
Digitalist Group Plc’s Business Review, 1 January – 30 September
2021
Digitalist Group Plc Stock
Release 29.10.2021 9:00 AM
SUMMARY
July –September 2021 (comparable figures for 2020 in
parentheses):
- Turnover: EUR 3.9 million
(EUR 4.3 million), decrease: 9.3%.
- EBITDA: EUR 0.5 million (EUR -0.8 million),
13.2% of turnover (-18.9%).
- EBIT: EUR -0.0 million (EUR -1.5 million),
-0.7% of turnover (-34.3%).
- Net income: EUR -0.4 million
(EUR -2.5 million), -9.8% of turnover (-58.3%).
- Earnings per share (diluted and undiluted): EUR -0.00 (EUR
-0.00).
January–September 2021 (comparable figures for 2020 in
parentheses):
- Turnover: EUR 13.5 million
(EUR 15.5 million), decrease: 12.9%.
- EBITDA: EUR -1.3 million
(EUR -2.3 million), -9.7% of turnover (-14.8%).
- EBIT: EUR -3.5 million (EUR -8.2 million),
-25.7% of turnover (-52.8%).
- Net income: EUR -3.9 million
(EUR -10.5 million), -29.0% of turnover (-66.4%).
- Earnings per share (diluted and undiluted): EUR -0.01
(EUR -0.02).
- Number of employees at the end of the review period: 160 (187),
decrease of 14.4%.
The EBIT and net result of the review period was impacted by a
write-down of the company’s goodwill (EUR -0.5 million). EBIT,
EBITDA and net result of the review period were impacted by a
booked gain of 1.3 million EUR from the Ticknovate Share
transaction.
CEO's review Having been forced to work
and meet remotely has brought people from our different studios and
countries closer together than ever. This, in addition to growing
needs for digitalization, are the positive impacts of Covid. We are
now much better at working together with and supporting our clients
in mixed teams from all of our studios and excellence
areas.
Digitalist continues to work with some of the most well known
brands in the industry. Our largest clients include Honda, Spotify,
Posti, Electrolux and Tetra Pak. After the summer the group has
acquired new clients in all our regions and business areas, young
and growing companies like Wayout International, Yangi and
Pophouse.
As part of the measures taken during quarter three was the
successful divestment of Ticknovate Ltd. With this arrangement,
Digitalist Group increases its financial flexibility and the focus
on its core business. During the quarter Digitalist
group has also initiated the expansion of its Open source tech
offering on the Finnish market.
Quarter three has been a period of planning to generate a new
start. We are continuously looking into our expenses, and we aim to
improve our profitability as we increase our revenues.We hope that
the Covid pandemic will come to an end soon and look forward to
that Digitalist Group will come out strong when things get back to
normal.
//CEO Magnus Leijonborg
FUTURE PROSPECTS
In 2021, turnover is expected to decrease in
comparison to 2020 and EBITDA is expected be approximately at
the same level as compared to 2020.
OTHER EVENTS DURING THE THIRD
QUARTER
Digitalist Group
divested its share in
Ticknovate Limited
Digitalist UK Limited belonging to Digitalist
Group has on the 27th of August signed a share purchase agreement
to divest its subsidiary Ticknovate Limited. Digitalist UK Limited
owned 65% of Ticknovate’s shares. The transaction was completed by
selling all Ticknovate’s shares in Digitalist UK Limited’s
possession to Turret Oy Ab. Turret is Digitalist Group Plc’s
largest shareholder.
Sales price was 2.6 million eur and it is paid
in cash. The transaction was closed on 31.8.2021. The parties have
agreed about possible additional sales price, which is estimated to
be 0 – 0.4 million eur depending on the development of the value of
Ticknovate by 31.12.2023.
Digitalist Group has booked in other operating
income, a capital gain of 1.3 million eur of the Share transaction.
The transaction will not have a material effect on the group’s
turnover, but it supports the group’s equity. With the arrangement,
Digitalist Group increases its financial flexibility and the focus
on its core business. Following the Share transaction, Ticknovate
and Digitalist Group will continue cooperation under market
terms.
Changes in
Digitalist Group’s Management
Team
Digitalist Group also streamlined its Group’s
Management Team. Digitalist Group’s new
Management Team started on 23.9.2021 consists of the following
persons:
CEO Magnus LeijonborgCFO Mervi Södö
Digitalist Group Plc
decreased its earlier guidance
regarding future prospects
During the third quarter, Digitalist Group Plc
decreased its earlier guidance regarding future prospects. On
17.8.2021 the guidance was changed to:
In 2021, turnover is expected to decrease in
comparison to 2020 and EBITDA is expected be approximately at the
same level as compared to 2020.
The previous guidance of the company
was: In 2021, turnover and EBITDA is expected to improve in
comparison with 2020.
The stock exchange releases for the review
period are on the company's website
atwww.digitalist.global/investors/releases.
EVENTS SINCE THE REVIEW
PERIOD
When the business review was published, the
company expected its working capital to be sufficient to cover its
requirements over the next 12 months.
DIGITALIST GROUP OYJBoard of Directors
Additional information:
Digitalist Group Plc
CEO Magnus Leijonborg, tel. +46 76 315 8422,
magnus.leijonborg@digitalistgroup.comCFO Mervi Södö, tel. +358 40
136 5959, mervi.sodo@digitalistgroup.com
Distribution:Nasdaq Helsinki LtdMajor
mediahttps://digitalist.global
- Digitalist Group Business Review 01.01. - 30.9.2021
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