Financial guidance

Guidance for the 2023 financial period:

n 2023, Enersense’s revenue is expected to be in the range of EUR 280–310 million and adjusted EBITDA in the range of EUR 12–18 million.

Enersense’s business environment is estimated to be developing favourably and the revenue is expected to grow. We have managed to accelerate the wind power portfolio development and we assume that the same development continues. Profitability will be impacted by the implementation of the new ERP-system as well as on-going investments in developing the offshore wind power business and acceleration of onshore wind power project development. At the end of 2022 the company completed an offering of EUR 26 million convertible bond in order to implement these investments.

Long-term financial targets

Target in 2027Situation in 2022
Revenue of EUR 500 million, of which strategic development projects 100 MEUR, own energy production 100 MEUR and core business operations 300 MEUR.The Group’s revenue, EUR 268 million, mainly consists of revenue from its core business operations.
EBITDA of EUR 100 million, of which strategic development projects 35 MEUR, own energy production 35 MEUR and core business operations 30 MEUR.The Group’s adjusted EBITDA, EUR 13.7 million.
Proportion of zero-emission and low-emission projects*) of revenue: 75–80%.Proportion of zero-emission and low-emission projects of revenue: 66%.
Own energy production in total 600–700 MW.For the time being, the company has no energy production of its own. Onshore wind power project development portfolio increased to 8,000 MW (9/2022: 3,000 MW), which gives a solid ground on which to build our own production.
Dividend policy: The company’s goal is to distribute at least 30% of earnings per share as dividends.Enersense’s Board of Directors proposes to the Annual General Meeting to be held on 4 April 2023 that funds be distributed as a return of capital of EUR 0.10 to shareholders.

*) Enersense’s own Key Performance Indicator “Proportion of zero-emission and low-emission projects of revenue” includes all such Enersense’s business activities which the company has defined as taxonomy eligible according to the EU taxonomy for sustainable finance. In addition to this, the KPI includes such Enersense’s business activities which, according to the company’s evaluation, contribute to the energy transition and improve the energy efficiency of Enersense’s customers business activities, but which, according to current evaluation, are not taxonomy eligible. These activities include Enersense’s business activities relating to nuclear power, mobile network services and LNG-projects. Analysis on the company’s taxonomy eligible and taxonomy aligned activities will be presented in the Board of Directors’ Report, which will be published in week beginning on 6 March 2023.