0RQI Talenom Oyj

Talenom Plc, Stock exchange release, Insider information 16 December 2021 at 16.30 EET

Talenom’s outlook and financial guidance for 2022

Talenom expects the accounting services market to grow in all of the company's operating countries in 2022 and demand to remain stable. In addition, consolidation in the industry is expected to continue due to, for instance, digital disruption. Talenom’s goal is to continue robust growth and expansion in all of its operating countries and other European countries with significant potential to expand as a forerunner in the digitalisation of the accounting services industry.

Talenom expects 2022 net sales to be EUR 100-110 million and operating profit (EBIT) to be EUR 15-18 million.

The guidance includes the estimates for the Swedish accounting firms Kjell Wengbrand Redovisnings AB and MH Konsult Väst AB, acquired at the end of November 2021. The acquisitions will be completed at the beginning of 2022. The net sales transferred to Talenom from the acquired companies is some EUR 3.3 million annually.

In addition to organic growth and the above-mentioned acquisitions, the guidance includes an estimation of possible acquisitions during 2022, which are subject to significant uncertainty. As in the ongoing year, majority of the total net sales growth in 2022 is expected to come from acquisitions in Finland and Europe. Expanding into new market areas enables the company’s long-term growth.

Acquisitions will have a negative impact on relative profitability in the short term. The profitability of an acquisition target will rise to the level of Talenom’s core business in an estimated three years when the new systems have been implemented at the target. In Sweden, implementation of new software is planned to start in autumn 2022. Talenom’s investments in automation, customer-friendly user interfaces and the small customer segment in recent years will increase the depreciation level relative to net sales, but operational profitability measured by EBITDA will improve.

Talenom PlcBoard of Directors

Further information:Otto-Pekka HuhtalaCEO, Talenom Plc+358 40 703 8554otto-pekka.huhtala@talenom.fi

Talenom is an agile and progressive accounting firm established in 1972. Our business idea is to make daily life easier for entrepreneurs with the easiest-to-use digital tools on the market and highly automated services. In addition to comprehensive accounting services, we support our customers’ business with a wide range of expert services, as well as financing and banking services. Our vision is to provide superior accounting and banking services for SMEs.

Talenom's growth history has been strong –average annual net sales growth was around 15.5% in 2005-2020. At the end of 2020, Talenom had 912 employees in Finland and Sweden at a total of 47 locations. Talenom's share is quoted on the Main Market of Nasdaq Helsinki. Read more: sijoittajat.talenom.fi/en/

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