Financial guidance

According to the company’s financial guidance, its revenue is expected to be EUR 245–265 million in 2022, and its adjusted EBITDA is expected to be EUR 15–20 million. Compared with the previous year, the result for 2022 will be burdened by investments in a new ERP system. Investments in offshore wind power, a growing sector, will also affect the result.

Due to an exceptional situation, the company estimates that the second quarter of 2022 will be the weakest quarter of the year in terms of profitability. In the first quarter, the Russian attack on Ukraine and its impacts have caused delays in projects scheduled to start in the spring.

The Russian attack on Ukraine, inflation risks, material availability problems and coronavirus can continue to cause delays in ongoing projects and their profitability. The ICT strike, which began on 25 April 2022, may also affect Enersense’s business, especially in the Connectivity segment, if prolonged. The guidance and outlook are based on the information available to the company about the progress of ongoing customer projects and on the company’s estimate of customer projects to be started in 2022.