News Tag: News

Target of 1,000 MW new wind power projects reached well ahead of the schedule

Enersense International Plc
Investor news, 19 March 2024 at 3:10 p.m.

The targeted development phase for the new 1,000 MW wind power project portfolio has been achieved more than 1 year earlier than expected. Originally the target was set for May 2025 in the cooperation agreement signed in May 2022 between Enersense, a provider of zero-emission energy solutions, and VALOREM, a French origin developer and green IPP. The 1000-MW portfolio  is under land use planning and EIA processes.

“We are glad that Enersense was quicker than expected to submit this new 1GW portfolio and excited for our collaboration for the next milestones,“ says Gwenaël Jestin, Head of International Development for VALOREM Group.

Based on a previous cooperation agreement made in 2015, Enersense has already earlier started development of altogether 500 MW of wind projects together with VALOREM Group.

“Enersense Wind, part of Enersense’s Power business area, has proven that the expertise of its skilled and professional team in the identification of potential areas and the development of projects is paying off. Apart from the 1,500 MW portfolio now under development with VALOREM Group, a total of 6,900 MW of onshore wind power projects in Enersense’s wind power portfolio and all upcoming new onshore wind power projects are owned and managed by Enersense solely and support the company’s target of starting its own energy production,” says Sirpa Smids, Vice President of Renewable Energy in the Power business area.

More information:

Sirpa Smids, Vice President, Renewable Energy, Power
Tel.: +358 40 7123661
Email: sirpa.smids@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 0437515
Email: tommi.manninen@enersense.com

 

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2023 was EUR 363 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

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Enersense and Andritz agree on equipment installation contract

Enersense International Plc
Press release, 18 March 2024 at 3:00 p.m.

Enersense, a provider of zero-emission energy solutions, has made an agreement with Andritz Oy for the mechanical installation works of a new debarking line at Stora Enso’s Oulu cardboard factory. The cardboard factory investment helps to replace oil-based products with renewable packaging material, i.e., cardboard. The investment is based on bio-based energy and does not increase the carbon dioxide emissions.

Enersense’s installation work will begin during the first quarter of the year and is estimated to be completed during the third quarter. This scale of installation project is the first between Enersense and Andritz. The order will be recognised in the order book of Enersense’s Industry business area for the first quarter of 2024.

“This contract is significant for us with one of the world’s leading technology suppliers operating in several industries. The new agreement shows that our chosen strategy of increasing the share of industrial project deliveries is progressing according to plan. We are, of course, grateful for the customer’s trust in Enersense and believe that this cooperation will continue also in the future,” says Mikko Lampinen, COO, Enersense Works.

More information:

Mikko Lampinen, COO, Enersense Works
Tel. +358 40 079 4543
Email: mikko.lampinen@enersense.com

Media contacts:

Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 (0)40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2023 was EUR 363 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

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Enersense’s annual reporting documents for 2023 have been published

Enersense International Plc
Stock Exchange Release 8 March 2024 at 11:15 a.m.

Enersense has published its 2023 annual reporting documents that include the Financial Statement Documents (Board of Directors’ Report, Financial Statements, Auditor’s Report), the Corporate Governance Statement, the Remuneration Report and the Annual Report.

The Financial Statement Documents have been published in accordance with the European Single Electronic Format (ESEF) reporting requirements as XHTML file in Finnish. The primary statements and the notes to the Financial Statements have been marked with XBRL tags. The audit firm KPMG Oy Ab has provided Enersense an independent auditor’s reasonable assurance report on Enersense’s ESEF Financial Statements in accordance with ISAE 3000.

The ESEF Financial Statement Documents have been published in Finnish.

The Financial Statement Documents, the Corporate Governance Statement, the Remuneration Report, and the Annual Report have also been published in pdf-format and are attached to this release.  

Enersense’s 2023 annual reporting documents are available https://enersense.com/press-releases/reports-and-presentations/.

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs

More information:

Tommi Manninen, SVP, Communications and Public Affairs
Tel. +358 40 043 7515
Email: tommi.manninen@enersense.com

DISTRIBUTION
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2023 was EUR 363 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

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enersense-corporate-governance-statement-2023
enersense-remuneration-report-2023
enersense-annual-report-2023

Notice of Enersense International Plc’s Annual General Meeting

Enersense International Plc
Stock exchange release 29 February 2024 at 4:15 p.m.

The shareholders of Enersense International Plc (“Enersense” or “Company”) are invited to the Annual General Meeting (“General Meeting”) to be held on  Thursday 4 April 2024 at 2:00 p.m. (EET) at Eliel studio in Sanomatalo at the address Töölönlahdenkatu 2, FI-00100 Helsinki, Finland. Arrival is by the main doors on the Postitalo side, at street level, opposite the R-kiosk. The reception of persons who have registered for the meeting and the distribution of voting tickets and serving of coffee will commence at 1:00 p.m.

Shareholders may also exercise their right to vote at the General Meeting by voting in advance. Instructions for advance voting are provided in section C. of this General Meeting notice.

A. MATTERS ON THE AGENDA OF THE GENERAL MEETING

The following matters will be considered at the General Meeting:

  1. Opening of the meeting
  1. Calling the meeting to order
  1. Election of persons to scrutinise the minutes and to supervise the counting of votes
  1. Recording the legality of the meeting
  1. Recording the attendance at the meeting and adoption of the list of votes
  1. Presentation of the financial statements for the financial period 1 January  2023 to 31 December 2023, which include the consolidated financial statements, the report of the Board of Directors and the auditor’s report
  • CEO’s review

The financial statements of Enersense, which include the consolidated financial statements, the report of the Board of Directors and the auditor’s report, will be available on the Company’s website at www.enersense.com/investors/governance/general-meeting/ during week 10 at the latest. 

  1. Adoption of the financial statements
  1. Resolution on the use of the profit shown on the balance sheet and the distribution of funds

The Board of Directors proposes to the General Meeting that the result for the financial period 1 January 2023 to 31 December 2023 be transferred to the profit and loss account for previous financial periods and that, based on the balance sheet to be adopted for the financial period, no dividends be paid to shareholders.

In addition, the Board of Directors proposes to the General Meeting that the Board of Directors be authorized to decide on the distribution of funds to shareholders from the invested unrestricted equity reserve as a return of capital of at most EUR 0.10 per share, i.e. at most EUR 1,649,252.70 in total.  The return of capital could be paid in up to two instalments during the period between July and December 2024 as determined by the Board of Directors. The possible return of capital would be paid to shareholders who, on the record dates determined subsequently by the Board of Directors, are registered in the shareholders’ register of the Company maintained by Euroclear Finland Ltd. The authorization is valid until 31 December 2024 at the latest.

  1. Resolution on the discharge of the members of the Board of Directors and the CEO from liability for the financial period 1 January 2023 to 31 December 2023
     
  2. Consideration of the remuneration report for governing bodies

The Board of Directors proposes that the remuneration report for the Company’s governing bodies for 2023 be approved.  Pursuant to the Finnish Limited Liability Companies Act, the decision is advisory.

The remuneration report for governing bodies will be available on the Company’s website at www.enersense.com/investors/governance/general-meeting/ during week 10 at the latest.

  1. Proposal of the Board of Directors for amending the Articles of Association

The Board of Directors proposes to the General Meeting that Article 5 and Article 8 of the Articles of Association be amended so that Article 5 is amended by increasing the maximum number of ordinary members of the Board of Directors by one, and Article 8 is amended to reflect the terminology of the Limited Liability Companies Act, among others by adding subsections concerning the processing of the remuneration report and the CSRD assurance provider and their election. After the amendments, the above-mentioned sections of the Articles of Association read as follows:

“5.  The company has a Board of Directors which consists of a minimum of three (3) and a maximum of eight (8) ordinary members.  The Board members’ term of office ends at the close of the first Annual General Meeting following their election.”

“8. The Annual General Meeting shall be held annually on a date determined by the Board of Directors, within six months from the end of the financial period.

At the Annual General Meeting shall be

presented

  1. the financial statements, including the income statement and the balance sheet
  2. the report of the Board of Directors
  3. the auditor’s report
  4. the remuneration report 

decided

5. the adoption of the financial statements
6. the use of the profit shown on the balance sheet
7. the discharge of the members of the Board of Directors and the Managing Director from liability
8. the adoption of the remuneration report
9. the remuneration of the members of the Board of Directors and the auditor
10. the number of members of the Board of Directors

elected

11. the members of the Board of Directors
12. the auditor, who is an authorised public accountant, or an accounting firm, whose principal auditor must be an authorised public accountant.
13. the CSRD assurance provider, which must be a sustainability auditing firm, and the key sustainability partner named by which must be a sustainability reporting auditor.”

  1. Resolution on the remuneration of the members of the Board of Directors and on the grounds for compensation of travel expenses

The Shareholders’ Nomination Board proposes to the General Meeting that the fees to be paid to the members of the Board of Directors in the upcoming term of office will be:

  • annual fee of EUR 42,000 for the Chair;
  • annual fee of EUR 32,000 for the Vice Chair; and
  • annual fee of EUR 27,000 for each member

In addition, meeting fees are paid for each meeting of the Board of Directors and of committees:

  • EUR 1,000 for Chairs of the Board of Directors and of committees; and
  • EUR 500 for other members.

Travel expenses are proposed to be reimbursed in accordance with the Company’s current travel reimbursement policy.

  1. Resolution on the number of Members of the Board of Directors

According to the Company’s Articles of Association, the Board of Directors consists of at least three (3) and at most of seven (7) ordinary members, however, such that after the possible approval of the amendment of the Articles of Association mentioned in section 11 and its registration in the Trade Register, the Board of Directors of the Company shall consist of at least three (3) and at most eight (8) ordinary members.

The Shareholders’ Nomination Board proposes to the General Meeting that the Board of Directors be composed of eight (8) ordinary members, the term of office of the new members of the Board of Directors beginning after the amendment of the Articles of Association proposed in section 11 has been entered in the Trade Register.

  1. Election of the Members of the Board of Directors

The Shareholders’ Nomination Board proposes to the General Meeting that, for the term of office ending at the end of the 2025 Annual General Meeting, Jaakko Eskola, Sirpa-Helena Sormunen, Sari Helander, Petri Suokas, Anna Miettinen and Carl Haglund be re-elected as board members, and Ville Vuori and Anders Dahlbom be elected as new board members. According to the proposal, the term of office of the new board members will begin after the amendment of the Articles of Association proposed in section 11 has been entered in the Trade Register.

The Nomination Board has considered the requirements set by Enersense’s operations and Enersense’s diversity principles in preparing the composition of the Board of Directors.

Information on the proposed board members is available on Enersense’s website at https://enersense.fi/investors/governance/general-meeting/.

The Board of Directors elects a Chair and a Vice Chair from among its members. The Nomination Board recommends that the organisational meeting of the Board of Directors re-elect Jaakko Eskola as Chair of the Board of Directors and Sirpa-Helena Sormunen as Vice Chair of the Board of Directors.

All candidates have given consent to their election to office and, according to the Nomination Board’s assessment, all candidates are independent of the Company at the time of the submission of the proposal.  Sirpa-Helena Sormunen, Sari Helander, Petri Suokas, Carl Haglund, Anna Miettinen and Ville Vuori are in addition independent of significant shareholders. Jaakko Eskola is not independent of the Company’s significant shareholders as he holds the position of Senior Industrial Advisor at Nidoco AB.  Anders Dahlbom is not independent of the Company’s significant shareholders as he holds the position of Chief Operating Officer at Virala Oy Ab, which is the parent company of Nidoco AB.

  1. Resolution on the remuneration of the auditor

On the recommendation of the Board’s Audit Committee, the Board of Directors proposes to the General Meeting  that the auditor’s remuneration be paid against the auditor’s reasonable invoice approved by the Audit Committee.

  1. Election of the Auditor

On the recommendation of the Board’s Audit Committee, the Board of Directors proposes to the General Meeting that audit firm KPMG Oy Ab, who have named Authorized Public Accountant Heli Tuuri as the principal auditor, be elected as the auditor. The term of office of the auditor ends at the close of the first Annual General Meeting following the election.

The Audit Committee has prepared its recommendation in accordance with the EU Audit Regulation (537/2014).  The Audit Committee hereby confirms that its recommendation is free from influence by a third party and that no clause of the kind referred to in paragraph 6 of Article 16 of the EU Audit Regulation, which would restrict the choice by the General Meeting as regards the appointment of the auditor, has been imposed upon it.

If KPMG Oy Ab is elected as the Company’s auditor, in accordance with the transitional provision of the Act amending the Companies Act (1252/2023), it will also act as the Company’s CSRD assurance provider for a term ending at the close of the Company’s next Annual General Meeting, and a fee for this duty will be paid according to an invoice approved by the Audit Committee.

  1. Authorizing the Board of Directors to decide on a share issue and on granting option rights and other special rights entitling to shares

The Board of Directors proposes that the General Meeting authorize the Board to decide on a paid share issue and on granting option rights and other special rights entitling to shares as set out in Chapter 10 Section 1 of the Finnish Limited Liability Companies Act, or on the combination of some of the aforementioned instruments in one or more tranches on the following terms and conditions:

A maximum of 1 649 250 new and/or treasury shares of the Company (including shares to be issued based on special rights) may be issued under the authorization, which corresponds to approximately 10 per cent of all the shares in the Company’s shares at the time of the convocation of the General Meeting.

Within the limits of the foregoing authorization, the Board of Directors is given the right to decide on all terms and conditions for issuing shares and granting option rights and other special rights entitling to shares.

The Board of Directors is authorized to decide on the recording of the subscription price either as a share capital increase, or fully or partly in the reserve for invested unrestricted equity. A share issue and the issuance of special rights entitling to shares may also take place as a directed issue in deviation of the shareholder’s pre-emptive right if the Company has a weighty financial reason for this under the Limited Liability Companies Act (directed issue). In that case, the authorization can be used to finance corporate acquisitions or other investments that are part of the Company’s business, to maintain and increase the Group’s solvency, to implement an incentive scheme, and to expand the ownership base and develop the capital structure.

The authorization does not revoke the authorization granted by the Company’s Extraordinary General Meeting on 23 December 2022 to decide on the issuance of special rights entitling to shares.

The authorization is proposed to be effective until the close of the next Annual General Meeting, but no longer than until 30 June 2025.

  1. Authorizing the Board of Directors to decide on the repurchase and/or on the acceptance as pledge of the Company’s own shares

The Board of Directors proposes to the General Meeting that the General Meeting authorize the Board of Directors to decide on the repurchase and/or on the acceptance as pledge of the Company’s own shares under the following conditions:

A maximum of 824 630 shares may be repurchased and/or accepted as pledge, which corresponds to approximately 5 percent of all the shares in the Company at the time of the convocation  of the General Meeting.

The shares will be purchased in trading organized by Nasdaq Helsinki Ltd at the market price on the date of repurchase.

Own shares may be repurchased and/or accepted as pledge in deviation from the shareholders’ proportional holdings (directed repurchase and/or directed acceptance as pledge).  The repurchase of shares reduces the Company’s unrestricted equity. The Board of Directors shall decide on the manner in which the shares are repurchased/or accepted as pledge.

The authorization is proposed to be effective until the close of the next Annual General Meeting, but no longer than until 30 June 2025.

  1. Closing of the Meeting

B. DOCUMENTS OF THE GENERAL MEETING

The proposals for decisions on the matters on the agenda of the General Meeting as well as this notice are available on the Company’s website at www.enersense.com/investors/governance/general-meeting/. The financial statements, including the consolidated financial statements, the report of the Board of Directors and the auditor’s report, as well as the remuneration report will also be available on the above website during week 10 at the latest.  The proposed resolutions and other documents mentioned above will also be available for inspection at the General Meeting. The minutes of the meeting will be available on the Company’s website by on Thursday 18 April 2024.

C. INSTRUCTIONS FOR THE PARTICIPANTS IN THE GENERAL MEETING

1. Shareholders registered in the shareholders’ register

Shareholders who are on the record date of the General Meeting, Thursday 21 March 2024, registered in the Company’s shareholders’ register maintained by Euroclear Finland Oy are entitled to attend the meeting. Shareholders whose shares are registered on their personal Finnish book-entry accounts are registered in the shareholders’ register of the Company.

Registration for the General Meeting begins on 1 March 2024 at 2:00 p.m. (EET). Shareholders registered in the shareholders’ register of the Company, who wish to attend the General Meeting, must register for the meeting at the latest on Tuesday 26 March 2024 at 3:00 p.m. (EET), by which time the Company must have received the registration. Registration for the General Meeting takes place:

a) through the Company’s website at the address www.enersense.com/investors/governance/general-meeting/. Electronic registration requires strong identification by the shareholder or their legal representative or proxy using a Finnish, Swedish or Danish banking code or mobile ID. If a legal person uses the Suomi.fi e-Authorization, registration requires strong electronic authentication of the authorized person by using a banking code or mobile ID.

b) by e-mail to Innovatics Oy at agm@innovatics.fi. When registering, the shareholder must include in the e-mail message the registration form and possible advance voting form available on the Company’s website www.enersense.com/investors/governance/general-meeting/, or corresponding information.

c) by letter to Innovatics Oy at the address  Innovatics Oy, General Meeting / Enersense International Plc, Ratamestarinkatu 13 A, 00520 Helsinki. When registering, the shareholder shall include enclose with the letter the registration form and possible advance voting form available on the Company’s website www.enersense.com/investors/governance/general-meeting/, or corresponding information.

Changes in shareholding after the record date of the General Meeting will not affect the right to participate in the General Meeting or the number of voting rights held by a shareholder in the meeting.

When registering, the requested information, such as the shareholder’s name, date of birth or business ID, address, telephone number and e-mail address as well as the name of a possible assistant or proxy representative and date of birth of the proxy representative must be provided. The personal data provided will only be used in connection with the General Meeting and in processing the necessary registrations related to the meeting.

Further information related to registration and advance voting is available by telephone during the registration period for the General Meeting from Innovatics Oy from the telephone number 010 2818 909 on workdays at 9 a.m. to 12 noon and from 1 p.m. to 4 p.m.

The shareholder, their authorized representative or proxy representative shall, where necessary, be able to prove their identity and/or right of representation at the venue of the meeting.

2. Holders of nominee-registered shares

A holder of nominee-registered shares has the right to participate in the General Meeting by virtue of shares, on the basis of which the shareholder would, on the record date of the General Meeting, i.e. on Thursday 21 March 2024, be entitled to be registered in the Company’s shareholders’ register maintained by Euroclear Finland Ltd. The right to  participate in the General Meeting further requires that, on the basis of such shares, the shareholder has been registered in the temporary shareholders’ register maintained by Euroclear Finland Ltd at the latest on 28 March 2024 by 10:00 a.m. (EET). As regards nominee-registered shares, this constitutes due registration for the General Meeting. Changes in shareholding after the record date of the General Meeting will not affect the right to participate in the General Meeting or the number of voting rights held by a shareholder in the meeting.

Holders of nominee-registered shares are advised to request the necessary instructions regarding temporary registration in the shareholders’ register of the Company, issuing of proxy documents and voting instructions as well as registration and attendance at the General Meeting and, if necessary, advance voting from their custodian banks well before the meeting. The account management organisation of the custodian bank shall register a holder of nominee-registered shares who wishes to participate in the Annual General Meeting in the temporary shareholders’ register of the Company at the latest by the time stated above and, if necessary, arrange for advance voting on behalf of the holder of nominee-registered shares before the end of the registration period for holders of nominee-registered shares .

The consideration of any voting instructions of a nominee-registered shareholder at the meeting requires that the shareholder has registered for the General Meeting and that the shareholder is present or represented at the meeting.

3. Proxy representative and proxy documents

A shareholder may participate in the General Meeting, and exercise their rights at the meeting, by way of proxy representation. A shareholder’s proxy representative may also elect to vote in advance as described in this notice if they so wish. Proxy representatives must identify themselves in the electronic registration service and for advance voting personally by strong identification, after which they will be able to register on behalf of the shareholder they represent and, where necessary, also to vote in advance. The shareholder’s proxy representative must produce a dated proxy document or otherwise in a reliable manner demonstrate their right to represent the shareholder at the General Meeting. The right of legal representation can be demonstrated by utilising the Suomi.fi e-Authorizations service available in the electronic registration service.

A model proxy authorization document will be available on the Company’s website at www.enersense.com/investors/governance/general-meeting/ by 1 March 2024 at 2:00 p.m. (EET) at the latest. If a shareholder participates in a General Meeting through several proxy representatives representing the shareholder with shares on different securities accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration for the General Meeting.

Possible proxy documents shall be delivered primarily as attached files in connection with electronic registration or alternatively by mail to the address Innovatics Ltd, Annual General Meeting/Enersense International Plc, Ratamestarinkatu 13 A, 00520 Helsinki, or by e-mail to the address agm@innovatics.fi before the last date of registration. In addition to delivering the proxy documents, the shareholder or their proxy representative shall attend to the registration for the General Meeting as specified above in this notice.

  1. Advance voting

A shareholder whose shares in the Company are registered in their personal Finnish book-entry account may vote in advance between 1 March 2024 at 2:00 p.m. (EET) and 26 March 2024 at 3 p.m. (EET) on certain items on the agenda of the General Meeting

  1. via the Company’s website at www.enersense.com/investors/governance/general-meeting/. Login to the service is done in the same way as for registration in section C.1 of this notice.
  2. by mail by submitting the advance voting form available on the Company’s website or equivalent information to Innovatics Oy at Innovatics Oy, General Meeting / Enersense International Plc, Ratamestarinkatu 13 A, FI-00520 Helsinki, Finland.
  3. or by e-mail by submitting the advance voting form available on the Company’s website or equivalent information to Innovatics Oy by e-mail at agm@innovatics.fi.

Advance votes must be received by the time the advance voting ends. The submission of votes by mail or e-mail before the end of the registration and advance voting period shall be considered as registration for the General Meeting, provided that it contains the above information required for registration.

A shareholder who has voted in advance cannot exercise the right to ask questions or demand  a vote under the Finnish Limited Liability Companies Act unless they attend the General Meeting in person or by proxy at the meeting venue.

With respect to nominee-registered shareholders, the advance voting is carried out by the account manager. The account manager may vote in advance on behalf of the holders of nominee-registered shares whom they represent in accordance with the voting instructions given by them during the registration period set for the nominee-registered shareholders.

Proposals for resolution that are subject to advance voting are deemed to have been made at the General Meeting without any changes.

5. Other instructions and information

The language of the meeting is Finnish.

Pursuant to Chapter 5 Section 25 of the Limited Liability Companies Act, a shareholder who is present at the General Meeting has the right to request information with respect to the matters to be considered at the meeting.

Changes in shareholding after the record date of the General Meeting will not affect the right to participate in the General Meeting or the number of voting rights held by a shareholder in the meeting.

On the date of this notice of the General Meeting, 29 February 2024, the total number of shares in Enersense International Plc, and votes represented by such shares, is 16,492,527.

In Pori on 29 February 2024

ENERSENSE INTERNATIONAL PLC
Board of Directors

More information:

Tommi Manninen, Senior Vice President, Communications and Public Affairs
Phone: +358 40 043 7515
Email: tommi.manninen@enersense.com

DISTRIBUTION:
Nasdaq Helsinki
Major media
www.enersense.com               

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2023 was EUR 363 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_AGM_Notice_ENG_29022024

The Board of Directors of Enersense international plc decided on the group key employee incentive plan

Enersense International Plc
Stock Exchange Release 29 February 2024 at 1:30 p.m.

The Board of Directors of Enersense International Plc has decided on new share-based incentive plan directed to the Group key employees. The aim is to align the objectives of the shareholders and key employees for increasing the value of the company in the long-term, to retain the key employees at the company and to offer them competitive incentive plan that is based on earning and accumulating the company’s shares. The new incentive plan is a continuation of the Performance Share Plan 2023–2025 decided in February 2023. The new Performance Share Plan 2024–2026 consists of one performance period, covering the financial years 2024–2026.

In the plan, the target group is given an opportunity to earn Enersense International Plc shares based on performance. The rewards of the plan are based on the absolute total shareholder return of the company’s share (TSR) for the financial years 2024—2026, on the Group’s cumulative EBITDA in euro for the financial years 2024—2026, and on the execution of the Group’s ESG program.

The potential rewards based on the plan will be paid after the end of the performance period, in spring 2027. The rewards will be paid partly in Enersense International Plc shares and partly in cash. The cash proportions of the rewards are intended for covering taxes and statutory social security contributions arising from the rewards to the participants. In general, no reward is paid if the participant’s employment or director contract terminates before the reward payment.

The rewards to be paid based on the plan correspond to the value of an approximate maximum total of 369,784 Enersense International Plc shares, also including the proportion to be paid in cash. Approximately 40 persons, including the President and CEO and other members of the Group Executive Team, belong to the target group of the plan.

The President and CEO of Enersense International Plc and the member of the Group Executive Team must own at least 50 per cent of the shares received as a net reward from the plan, until the value of the President and CEO’s shareholding in Enersense International Plc equals to his annual base salary of the preceding year, and until the value of other Group Executive Team member’s shareholding in Enersense International Plc equals to 50 per cent of their annual base salary of the preceding year. Such number of Enersense International Plc shares must be held as long as the membership in the Group Executive Team or the position as the President and CEO continues.

ENERSENSE INTERNATIONAL PLC
Board of Directors

More information:

Tommi Manninen, SVP, Communications and Public Affairs
Tel. +358 40 043 7515
Email: tommi.manninen@enersense.com

DISTRIBUTION
Nasdaq Helsinki
Key media
www.enersense.fi

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2023 was EUR 363 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

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Enersense International Plc’s Financial Statement Bulletin 2023: Strong performance in the whole Group – revenue grew by 29% in 2023

Enersense International Plc
Financial Statement Bulletin 29 February 2024 at 12:25 p.m.

The figures in this bulletin are unaudited. The figures in brackets refer to the corresponding period of the previous year unless otherwise stated. All figures and sums have been rounded off from the exact figures which may lead to minor discrepancies upon addition or subtraction.

October–December 2023

  • •Revenue was EUR 107.8 (97.6) million, +10.5% year-on-year.
  • •EBITDA was EUR 7.7 (3.4) million. The EBITDA margin was 7.1 (3.5)%.
  • There were no items affecting comparability in the fourth quarter
    Adjusted EBITDA for the comparison period was EUR 4.3 million or 4.5% of revenue.
  • The operating profit was EUR 5.3 (1.1) million. The profit margin was 4.9 (1.1)%.
  • Undiluted earnings per share were EUR -0.15 (-0.34).

January–December 2023

  • Revenue was EUR 363.3 (282.0) million, +28.8% year-on-year.
  • EBITDA was EUR 14.7 (12.2) million. The EBITDA margin was 4.0 (4.3)%.
  • Adjusted EBITDA was EUR 15.1 (13.7) million, or 4.2 (4.8)% of revenue.
  • The operating profit was EUR 5.3 (3.5) million. The profit margin was 1.4 (1.2)%.
  • Undiluted earnings per share were EUR -0.54 (-0.57).
  • Renewable energy project portfolio was approximately 8,800 MW at the end of the year 2023 (6/2023: 8,100 MW) of which onshore wind power projects approximately 8,400 MW (6/2023: 8,100 MW).
  • •The order backlog stood at EUR 457 (415) million.

After the review period:

  • On 9 January 2024, Enersense announced that it is merging the Power and International Operations business areas into a single business area. At the same time, the Smart Industry business area will be renamed Industry. From the beginning of 2024, Enersense will report three business areas instead of the current four: Power, Industry, and Connectivity. In accordance with the planned organizational changes Margus Veensalu, a member of the Group Executive Team, will step down from the Group Executive Team but will continue at Enersense in another role.
  • On 2 February 2024, Enersense announced that the Shareholders’ Nomination Board proposes that the current Board members will be re-elected as board members, and Ville Vuori and Anders Dahlblom will be elected as new board members.

Distribution of funds to the shareholders

The Board of Directors proposes to the General Meeting that the result for the financial period 1 January 2023 to 31 December 2023 be transferred to the profit and loss account for previous financial periods and that, based on the balance sheet to be adopted for the financial period, no dividends be paid to shareholders.

In addition, the Board of Directors proposes to the General Meeting that the Board of Directors be authorized to decide on the distribution of funds to shareholders from the invested unrestricted equity reserve as a return of capital of at most EUR 0.10 per share, i.e. at most EUR 1.6 million in total. The return of capital could be paid in up to two instalments during the period between July and December 2024 as determined by the Board of Directors. The possible return of capital would be paid to shareholders who, on the record dates determined subsequently by the Board of Directors, are registered in the shareholders’ register of the Company maintained by Euroclear Finland Ltd. The authorization is valid until 31 December 2024 at the latest.

Guidance for the 2024 financial year

In 2024, Enersense’s revenue is expected to be in the range of EUR 365–435 million and EBITDA in the range of EUR 15–25 million.

The revenue is expected to grow in 2024. Outlook especially for the company’s growth areas is favourable. The EBITDA is expected to grow. Profitability is expected to improve even if the investments in growth continue.

Board of Directors’ Report and Financial Statements

The 2024 Annual General Meeting of Enersense International Plc is scheduled to take place on Thursday 4 April 2024. The company’s Board of Directors will convene the Annual General Meeting separately.

Enersense’s Financial Statements and Board of Directors’ Report (ESEF), Corporate Governance Statement and Remuneration Report for 2023 will be published during the week beginning 4 March 2024. All reports will be available on the company’s website.

Key figures

Key figures

Accounting of wind power projects was changed from the beginning of 2023. Comparison figures for 2022 are reported according to the new accounting principle.

10–12/2023 10–12/2022 Change-% 1–12/2023 1–12/2022 Change-%
Revenue (EUR 1,000)             107,827               97,578                   10.5             363,318             281,997                   28.8
EBITDA (EUR 1,000)                 7,655                 3,367                 127.4               14,704               12,210                   20.4
EBITDA, %                     7.1                     3.5                     4.0                     4.3
Adjusted EBITDA (EUR 1,000)                 7,655                 4,350                   76.0                15,115               13,654                   10.7
Adjusted EBITDA, %                     7.1                     4.5                     4.2                     4.8
Operating profit (EUR 1,000)                  5,311                 1,095 n.a                 5,260                 3,479                   51.2
Operating profit, %                     4.9                     1.1                     1.4                     1.2
Result for the period (EUR 1,000)                -2,356                -5,577                -9,149                -9,835
Equity ratio, %                   26.0                   28.8                   26.0                   28.8
Gearing, %                   70.2                   19.0                   70.2                   19.0
Return on equity, %                    -4.1                    -9.9                  -16.0                  -17.5
Earnings per share, undiluted, EUR                  -0.15                  -0.34                  -0.54                  -0.57
Earnings per share, diluted, EUR                  -0.15                  -0.34                  -0.54                  -0.57

President and CEO Jussi Holopainen

“Our strong growth continued in 2023, and we improved the profitability of our core business operations. Our revenue increased by 28.8% from 2022 and was EUR 363.3 (282.0) million. The revenue includes EUR 7.6 million (14.0) in sales revenue from wind power projects. The Group’s adjusted EBITDA was EUR 15.1 (13.7) million. The profitability of the core business operations improved in all business areas. However, investments in strategic focus areas continued to be significant, and had an impact of EUR -11.8 (-6.1) million on EBITDA. At the end of the year, the Group’s order backlog was at a good level, at EUR 457 (415) million. The Group’s cash flow turned positive in the last quarter of the year.

Implementing the energy transition through profitable and growing business operations is at the core of our strategy. In 2023, all our business areas increased their revenue significantly, supported by a strong order backlog. In the Baltic countries, the construction of high-voltage power lines continued at a good level. In Connectivity, there was strong activity in fixed optical fibre construction projects. In late 2022 and early 2023, we announced contracts totalling around EUR 100 million for the construction of optical fibre connections. In the Power business area, the market situation was good, particularly in services related to the construction of transmission networks. Enersense plays a significant role in implementing projects related to Finland’s main grid. In Smart Industry, revenue increased as a result of higher volumes in service and project business operations.

We are particularly pleased with the significant increase in EBITDA in the Smart Industry, Connectivity and International Operations business areas. In the Power business area, EBITDA decreased year-on-year. Investments in strategic focus areas continued to be reflected in the profitability of the Smart Industry and Power business areas, and especially the ramp-up of the offshore-business has been slower than anticipated. However, both business areas have been able to improve the profitability of their core business operations, supported by strong volumes in particular. In the International Operations and Connectivity business areas, higher volumes and profitability improvement measures have already yielded results. Our significant investment in the company’s ERP system progressed to the next phase towards the end of the year, when the system was successfully implemented in the Smart Industry business area. The successful first phase lays a good foundation for the implementation of the system in other business areas.

To achieve our strategic growth targets, we are working to strengthen our position in our selected focus areas. We received our first significant orders for offshore projects during 2023. These projects increased business volumes, but the investments in the ramp-up of operations continued to burden profitability. We continued to develop our wind and solar power project portfolio. At the end of 2023, our onshore wind power project portfolio stood at around 8,400 MW (June 2023: 8,100 MW), and our solar power project portfolio totalled around 400 MW (June 2023: 60 MW). Our renewable energy project development portfolio of around 8,800 MW provides a good basis for the development of our own energy production. The assessment of the options related to our own energy production continues in line with the process announced in June 2023.

In charging solutions for zero-emission transport, we further specified our role as a developer and supplier of high-power charging technology. The market introduction of our advanced ECDC high-power charging equipment is progressing, and interest in the equipment has been at a good level, especially in the professional and commercial charging operator segments that are of interest to us. In November, as the first operator in Finland, we announced cooperation with electric transport payment and management platform developer Monta and started preparing integrations with several electric transport back-end system suppliers.

Towards the end of the year, we made a significant decision in the field of climate work by making a commitment to the near-term emissions reduction target of the Science Based Targets initiative. Through the commitment, we will determine science-based emissions reduction targets by the end of 2025 that support the Paris Agreement’s guideline to limit global warming to 1.5 degrees. We also wanted to engage our supply chain in the discussion on the transition towards low-emission solutions in the steel industry. In late 2023, we joined WWF Finland’s Ready for Green Steel campaign, which encourages steel industry companies to accelerate this positive change.

We have set ourselves ambitious financial targets for 2027. The strong growth in 2023 shows that we are on the right track in terms of our growth targets. Alongside growth, we will increasingly shift our focus to improving profitability. For example, we believe that the new ERP system will increase the efficiency of our operations. The work to streamline our business portfolio will also continue. At the beginning of 2024, we started preparatory work to merge the organisations of the Power and International Operations business areas. Very similar projects are being carried out in these two business areas in many respects, and we believe that by combining these operations we will improve both our competitiveness and our efficiency.

The outlook for 2024 is favourable and we expect both the revenue and EBITDA to grow. In 2024, we expect the revenue to be in the range of EUR 365–435 million and EBITDA in the range of EUR 15–25 million.”

This release is a summary of Enersense’s Financial Statement Bulletin 2023. The complete report is attached to this release as a pdf-file. It is also available on the company’s website.
 

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs
 

More information:  

Jussi Holopainen, CEO   
Tel. +358 44 517 4543   
Email: jussi.holopainen@enersense.com

Mikko Jaskari, CFO
Tel.: +358 40 053 5337​
Email: mikko.jaskari@enersense.com​

Media contacts:  
Tommi Manninen, SVP, Communications and Public Affairs   
Tel. +358 40 043 7515   
Email: tommi.manninen@enersense.com
 

Distribution:
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2023 was EUR 363 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_FinancialStatementBulletin_ENG_29022024
enersense financial statement bulletin 2023

Enersense’s associated company P2X to develop Oulun Energia’s industrial-scale hydrogen plant project

Enersense International Plc
Press release 14 February 2024 at 4:35 p.m.

Enersense’s associated company P2X Solutions has been selected to develop the project for the hydrogen production plant planned by Oulun Energia. Oulun Energia’s first hydrogen project, which is significant even on a Finnish scale, is planned for the Laanila industrial area in Oulu. According to the preliminary plan, the project would include an electrolysis plant with a capacity of up to 100 megawatts (MW), a carbon capture plant, a hydrogen and carbon dioxide storage, and a further processing plant whose final product could be methane or methanol, for example.

In the project development phase that is now being launched and is led by P2X, the feasibility of the plant and location options are examined, and an impact assessment is carried out. The investment decision is estimated to be made in autumn 2025, and the plant could be ready by 2028 at the earliest.

Enersense holds 18.5 per cent of P2X Solutions.

Media contacts:

Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 0437515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

enersense_P2X_14022024_ENG

Enersense has signed follow-up agreement regarding the maintenance of Elektrilevi electricity networks in Estonia

Enersense International Plc
Investor news 12 February 2024 at 10:45 a.m.

Enersense, a provider of zero-emission energy solutions, has signed a follow-up agreement with the Estonian network operator, Elektrilevi, regarding the maintenance of electricity networks. The total value of the contract for Enersense is approximately EUR 8 million. The order will be recognised in the order backlog of Enersense’s Power business area for the first quarter of 2024.

The agreement includes the maintenance of electricity distribution networks, troubleshooting and connecting solar parks in Estonia’s West-Harju areas to the electricity distribution network. The work completed under these contracts employs an estimated 50 people in total. The work will begin in March 2024 and will be carried out in cooperation with E-Service, Estonian company specializing in electrical installations. The contract will expire by the end of the first quarter of 2026.

”The agreements with Elektrilevi are important to us. Among other things, these will strengthen our position in the Baltic market and support our vision of being a major implementor of a zero-emission society. Elektrilevi is a great customer for us in Estonia. It is a sign of our success that our cooperation continues in a strategically important project for us,” comments Juha Silvola, EVP of Enersense’s Power segment.

More information: 

Juha Silvola, EVP, Power 
Tel. +358 40 763 1599
Email: juha.silvola@enersense.com

Media contacts: 

Tommi Manninen, SVP, Communications and Public Affairs 
Tel. +358 40 043 7515 
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

enersense_elektrilevi_12022024_ENG

Enersense International Plc: Notification under chapter 9, section 5 and 6 of the Securities Market Act (Virala Oy Ab)

Enersense International Plc
Stock Exchange Release 5 February 2024 at 4:00 p.m.

Enersense International Plc has, on 5 February 2024, received from Virala Oy Ab a notification, pursuant to Chapter 9, Section 5 and 6 of the Finnish Securities Markets Act (SMA), about a change in their shareholding. According to the notification Virala Oy Ab’s subsidiary Nidoco AB holds 21.98% of Enersense’s total number of shares and votes. Virala Oy Ab’s holding through financial instruments amounts to 800,000 shares, which corresponds to 4.85% of the total amount of Enersense’s shares. The combined holding of Virala and Nidoco together is 4,425,000 shares, which corresponds to 26.83% of Enersense’s shares and votes. Before the notification, Nidoco’s holding was 4,425,000 shares, which corresponded to 26.83% of Enersense’s shares and votes. Enersense’s total number of shares and voting rights is 16,492,527.

Holdings according to the notification:

% of shares and voting rights(total of 7.A)

% of shares and voting rights through financial instruments(total of 7.B)

Total of both in % (7.A + 7.B)

Resulting situation on the date on which threshold was crossed or reached

21.98

4.85

26,83

Position of previous notification

25.01

–

25.01

A: Shares and voting rights

Class/type ofsharesISIN code

Number of shares and voting rights

% of shares and voting rights

Direct (SMA 9:5)

Indirect (SMA 9:6 and 9:7)

Direct (SMA 9:5)

Indirect (SMA 9:6 and 9:7)

FI4000301585

0

3,625,000

0

21.98

SUBTOTAL A

3,625,000

21.98

B: Financial Instruments according to SMA 9:6a

Type of financial instrument

Expiration date

Exercise/Conversion Period

Physical or cash settlement

Number of shares and voting rights

% of shares and voting rights

Forward contract

19 April 2024

5 February 2024

Physical

800,000

4.85

SUBTOTAL B

800,000

4.85

Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity:

Name

% of shares and voting rights

% of shares and voting rights through financial instruments

Total of both

Virala Oy Ab

–

4.85

800,000

Atine Group Oy

–

–

–

Nidoco AB

21.98

–

3,625,000

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs

Further information:

Tommi Manninen, SVP, Communications and Public Affairs
Telephone: +358 40 043 7515
Email: tommi.manninen@enersense.com

DISTRIBUTION 
Nasdaq Helsinki 
Major media 
www.enersense.fi

Enersense_flagging_Virala_ENG_05022024

Enersense selected as the main contractor to upgrade Fingrid’s network in Harjavalta

Enersense International Plc
Investor news, 5 February 2024 at 11:00 a.m.

Enersense, a provider of zero-emission energy solutions, has won Fingrid’s public bidding process to build three new 110 kV substations in the Harjavalta area. The substations will be built as gas insulated switchgear (GIS) using a gas insulation solution that does not contain any SF6 gas which is a significant greenhouse gas. The project will continue until the summer of 2027. The value of the contract is roughly EUR 20 million which will be recognised in the order books of the Power business area for the first quarter of 2024.

“We are happy to continue our successful cooperation with Enersense’s skilled and enthusiastic personnel. The SF6-free projects completed last year in Luukkala and currently in progress in Framnäs following the same concept have proceeded very well, and it will be productive to replicate the lessons learned from them,” says Daniel Kuosa, Head of Substation Projects at Fingrid.

The project is significant for Enersense. “Our order books will be strengthened far into the future, and we can also maintain our position as a provider of sustainable GIS substation solutions. What is more, this project is an excellent extension to our ongoing projects in which we are using the same technology,” says Joni Parkkinen, Vice President of Transmission Networks at Enersense.

The contract agreement will be signed after the appeal period laid down in the Act on Public Procurement and Concession Contracts.

More information:

Joni Parkkinen, Vice President, Transmission Networks, Power
Tel.: +358 50 537 5837
Email: joni.parkkinen@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Harjavalta_ENG_05022024

Enersense’s Shareholders’ Nomination Board’s proposals to the 2024 Annual General Meeting

Enersense International Plc
Stock exchange release, 2 February 2024 at 12:30 p.m.

Enersense International Plc’s Shareholders’ Nomination Board has submitted the following proposals to the company’s Board of Directors for the Annual General Meeting 2024 planned for 4 April 2024:

Proposal for the number of members in the Board of Directors and the composition of the Board of Directors

The Shareholders’ Nomination Board proposes to the Annual General Meeting that the Board of Directors is composed of eigth (8) members.

The Shareholders’ Nomination Board proposes that, for the term of office lasting until the end of the Annual General Meeting 2025, Jaakko Eskola, Sirpa-Helena Sormunen, Sari Helander, Petri Suokas, Anna Miettinen and Carl Haglund will be re-elected as board members. The Shareholders’ Nomination Board also proposes that Ville Vuori and Anders Dahlblom will be elected as new board members.

Board professional Ville Vuori, B.Sc. in Engineering, eMBA, has acted as CEO of Kemppi Oy during 2017 – 2023 and as President and CEO of Incap Group during 2014-2017. Before that he worked at Kumera Drives Oy and Skyhow Ltd. as Managing Director and at ABB Group in several managerial positions.

Anders Dahlblom, M.Sc.(Econ.), CEFA, will serve as COO at Virala Oy Ab from 16 February 2024. Prior to this, he has been the President & CEO of Glaston Oyj and is currently member of the Board in  Conficap Oy and Are Oy.

Information about the proposed board members is available on Enersense’s website at https://enersense.com/general-meeting/.

The Nomination Board has considered the requirements set by Enersense’s operations and Enersense’s diversity principles as it has prepared the composition of the Board of Directors.

The Board of Directors elects its Chair and Vice Chair from among its members. The Nomination Board recommends to the first meeting of the Board of Directors that Jaakko Eskola is re-elected as Chair of the Board of Directors and Sirpa-Helena Sormunen is elected as Vice Chair of the Board of Directors.

All candidates have given their consent to be elected for the duty and the Nomination Board assesses that all candidates are independent of the company at the time of submitting the proposal. In addition, Sirpa-Helena Sormunen, Sari Helander, Petri Suokas, Carl Haglund, Anna Miettinen, and Ville Vuori are independent of any significant shareholders. Jaakko Eskola is not independent of one of the company’s significant shareholders as he holds the position of Senior Industrial Advisor at Nidoco AB. Anders Dahlblom is not independent of one the company’s significant shareholder as he will assume the COO role at Virala Oy Ab On 16.2.2024, which is the parent company of Nidoco AB.

Proposal for the fee to be paid to the members of the Board of Directors

The Shareholders’ Nomination Board proposes to the Annual General Meeting 2024 that the fees to be paid to the members of the Board of Directors in the upcoming term of office will be kept unchanged and are as follows:

  • annual fee of EUR 42,000 for the Chair
  • annual fee of EUR 32,000 for the Vice Chair
  • annual fee of EUR 27,000 for each member

The Shareholders’ Nomination Board also proposes that the meeting fees will be kept unchanged. So, in addition to the annual fee, a meeting fee for each meeting of the Board of Directors and committees will be paid as follows:

  • EUR 1,000 for Chairs of the Board of Directors and committees
  • EUR 500 for other members.

Travel expenses are proposed to be reimbursed in accordance with the company’s current travel reimbursement policy.

Chair of the Shareholder’s Nomination Board which prepared the proposals for the Annual General Meeting 2024 is Alexander Ehrnrooth, Nidoco, and members are Marjo Miettinen, Ensto Invest and Janne Vertanen, Verman Holding. Jaakko Eskola, Chair of the Board of Directors, serves as an expert for the Nomination Board.

The Nomination Board’s proposals will be added to the notice of the Annual General Meeting.

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs

More information: 

Alexander Ehrnrooth
Chair of the Nomination Board
Telephone: +358 9 6122340

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel. +358 (0)40 043 7515
Email: tommi.manninen@enersense.com

DISTRIBUTION:
Nasdaq Helsinki
Key media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_nomination_board_proposals_02022024

Enersense commits to Science Based Targets initiative to reduce greenhouse gas emissions

Enersense International Plc
Press release 19 January 2024 at 10:00 a.m.

Enersense has delivered a letter of commitment to the Science Based Targets initiative (SBTi), an international organisation that promotes ambitious climate action. In accordance with the Science Based Targets initiative, Enersense will set near-term emission reduction targets in line with SBTi’s criteria, which support the Paris Agreement’s policy of limiting global warming to no more than 1.5 degrees Celsius.

The science-based emission reduction targets will be set according to SBTi’s schedule within two years of the commitment. The new targets will be submitted to the SBT organisation for validation, and the targets will concern both Enersense’s own operations (Scope 1 and 2) and the entire supply chain (Scope 3).

The majority of Enersense’s total emissions consist of Scope 3 emissions from the value chain, such as purchased products and services. By committing to the SBT initiative, the emission reduction targets and measures to be set extend to Enersense’s entire supply chain.

“Climate change mitigation is at the core of our sustainability work. By committing to the SBTi climate initiative, we are taking a science-based step in the development of our environmental responsibility,” says Tommi Manninen, SVP, Communications and Public Relations at Enersense.

About the Science Based Targets initiative

The Science Based Targets initiative is an international collaborative effort, driven by the Carbon Disclosure Project (CDP), the UN Global Compact Initiative (UNGC), the World Institute of Natural Resources (WRI), and the World Wildlife Fund (WWF). Companies committed to the initiative set science-based emission reduction targets for their operations in line with the Paris Agreement.

The targets set by companies for reducing greenhouse gas emissions are considered science-based if they are in line with the measures that current climate science indicates must be taken to achieve the objectives of the Paris Agreement on climate change – that is, to limit global warming to well below 2°C compared to pre-industrial levels and to try to limit global warming to 1.5°C.  For more information, please visit the SBTi website www.sciencebasedtargets.org

More information:

Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

enersense_SBTi_19012024_ENG

Enersense is planning to simplify its organisational structure to improve its competitiveness, efficiency and expertise – number of reported business areas will be three

Enersense International Plc
Stock exchange release, 9 January 2024 at 12 p.m.

Enersense, a provider of zero-emission energy solutions, is planning to simplify its organisational structure to improve its competitiveness, efficiency and expertise by merging the current Power and International Operations business areas into a single business area. At the same time, the Smart Industry business area will be renamed Industry.

From the beginning of 2024, Enersense will report three business areas instead of the current four: Power, Industry, and Connectivity. Comparison figures for 2023 will be published before the publication of results for the first quarter of 2024.

“The Power and International Operations business areas carry out highly similar development projects in various areas to enable zero-emission society, and we believe that by bringing our top professionals under the same roof across national boundaries we can significantly increase synergies, expertise, competitiveness and efficiency. This new operating model will also strongly support our growth strategy and goal to expand to new market areas. International teams also provide our personnel with opportunities to develop themselves and their skills, and to work more flexibly in different countries and multinational communities,” says Jussi Holopainen, CEO of Enersense.

Changes to Enersense’s Group Executive Team

Planned organizational changes will affect the composition of the Group Executive Team of Enersense. The Group Executive Team will be from 9 January 2024 as follows:

Jussi Holopainen, President & CEO

Mikko Jaskari, CFO

Juha Silvola, EVP, Power and Connectivity

Jaakko Leivo, EVP, Industry

Sami Takila, SVP, Legal

Hanna Reijonen, SVP, HR

Tommi Manninen, SVP, Communications and Public Affairs

One current member of the Group Executive Team, Margus Veensalu, will step down from the Group Executive Team but will continue at Enersense in another role.

“I want to thank Margus Veensalu for his excellent work as a member of our Group Executive Team and contribution to the development of our company over the past years”, says Jussi Holopainen, President & CEO.

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs

More information:

Jussi Holopainen, CEO
Tel.: +358 44 517 4543
Email: jussi.holopainen@enersense.com

Mikko Jaskari, CFO
Tel.: +358 40 053 5337
Email: mikko.jaskari@enersense.com​

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 043 7515
Email: tommi.manninen@enersense.com

Distribution:
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_reporting_structure_ENG_09012024

Enersense to continue as Aidon’s partner in Helen’s district heating metering agreement

Enersense International Plc
Press release, 4 January 2024 at 10:50 a.m.

The Smart Industry business area of Enersense, a provider of zero-emission energy solutions, and Aidon have agreed to continue their cooperation in the implementation of the agreement on the provision of measurement and remote reading services for Helen’s district heating and cooling. The new five-year agreement period will enter into force on 1 January 2024.

Enersense is responsible for the installation, service, repair and maintenance of Helen’s measuring equipment covered by the agreement in the field. The agreement also includes storage services for meters, as well as maintenance, inspection and calibration in laboratory conditions.

“The renewed agreement will continue our long-term cooperation with Aidon (formerly Enerim) and Helen under the district heating metering service package. With the renewed agreement, Enersense will continue to be the most significant service provider in district heating metering services in the Helsinki metropolitan area. I would like to thank the parties involved in the agreement for their trust and the personnel of our district heating metering unit for their efforts to enable the agreement,” says Jari Simola, Vice President, Smart Services.

More information:

Jari Simola, Vice President, Smart Services
Tel. +358 44 425 2452
Email: jari.simola@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel. +358 40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Aidon_ENG_04012024

Nordea to start analysis on Enersense

Enersense International Plc
Investor news, 11 December 2023 at 10:30 a.m.

Nordea and their analyst Mr Pasi Väisänen will start following Enersense, a provider of zero-emission energy solutions.

From now on, analysts at Nordea, SEB and Inderes are producing analysis on Enersense. EVLI, who have previously followed Enersense, will end their analysis on Enersense in January 2024.

More information:

Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Nordea_IoC_ENG_11122023

Enersense selected as the main contractor for the construction of the Korpilevonmäki wind farm infrastructure

Enersense International Plc
Investor news, 29 November 2023 at 1:00 p.m.

Enersense, a provider of zero-emission energy solutions, has entered into an agreement with Ilmatar Energy on the construction of the Korpilevonmäki wind farm in Säkylä. The order will be recognised in the order book of Enersense’s Power segment for the fourth quarter of 2023.

Ilmatar’s Korpilevonmäki wind farm consists of six turbines. The construction project started in November, and the contract is expected to be completed in autumn 2024. Enersense’s delivery includes the construction of roads and lifting areas in the farm, turbine foundations and the internal network as a turnkey delivery.

“This is our first construction project for Ilmatar in our history of wind power construction, and we are of course very happy of our selection as the main contractor for the Korpilevonmäki wind farm. The project is a perfect fit for our core expertise and strengthens our cooperation as a provider of wind power services,” says Pekka Pitkämö, Vice President of Sales in Enersense’s Renewable Energy segment.

“The Korpilevonmäki wind farm is a very important project for Ilmatar and increases the generation of renewable energy in Finland. While the construction schedule is tight and the market situation is challenging, Enersense’s extensive experience in infrastructure construction in wind power projects convinced us. The construction of the wind farm will start immediately, and we look forward to working with Enersense,” says Antti Lehtinen, Director of Procurement at Ilmatar.

Ilmatar is a Nordic energy company and an independent power producer that focuses exclusively on renewable energy. It operates in the development, construction, ownership and maintenance of renewable energy, especially wind and solar power projects. The total output of Ilmatar’s onshore and offshore wind power and solar power projects that are at different stages in the Nordic countries is more than 20 GW. During 2023, Ilmatar will commission six onshore wind farms and one solar power farm in Finland.

More information:

Pekka Pitkämö, Vice President of Sales, Renewable Energy
Tel.: +358 44 425 2240
Email: pekka.pitkamo@enersense.com

Media contacts:

Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

enersense_ilmatar_29112023_ENG

Enersense has signed a follow-up agreement with Elektrilevi regarding the maintenance of electricity networks in Estonia

Enersense International Plc
Investor news 24 November 2023 at 2:15 p.m.

An Estonian subsidiary of Enersense International Plc, a creator of zero-emission energy solutions, Enersense AS, which operates in the business area of International Operations, has signed a follow-up agreement with Elektrilevi, the largest network operator in Estonia, regarding the maintenance of the electricity networks.

The two-year agreement includes maintenance and troubleshooting of electricity distribution networks in the Saaremaa and Hiiumaa area, with works starting in January 2024. The value of the agreement is approximately EUR 7.4 million. The order will be recognised in the order backlog of Enersense’s International Operations business area for the fourth quarter of 2023.

“The agreement is important to us for several reasons. Among other things, the signed agreement strengthens our position in the Baltic market and supports our mission to create an emission-free society. Elektrilevi is our largest customer in Estonia, and we have been providing them with our services on a similar contractual basis for more than ten years. It is a sign of our success that our cooperation will continue in a project that is strategically important to us,” says Margus Veensalu, EVP of Enersense International Plc’s International Operations segment.

More information:

Margus Veensalu, Executive Vice President, International Operations
Tel.: +372 50 96 969
Email: margus.veensalu@enersense.com

Media contacts:

Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

enersense_elektrilevi_24112023_ENG

Enersense is responsible for the maintenance of Helen’s solar power plants

Enersense International Plc
Press release 17 November 2023 at 12:20 p.m.

Enersense, a provider of zero-emission energy solutions, has started its work as a maintenance partner for solar power plants owned and managed by the energy company Helen. Earlier this autumn, the partners entered into an agreement covering maintenance services for Helen’s solar power plants throughout Finland. The open-ended agreement ensures safe operation and uninterrupted production at solar power plants.

 

For Enersense, the new agreement is a strategically important addition to its long-term cooperation with Helen. It further expands the comprehensive range of maintenance services provided by the Transmission Networks business for various systems of the electricity network and the growing renewable energy production sector. The Transmission Networks business is part of the Power business area. 

 

“Our cooperation with Helen runs smoothly, and we greatly appreciate their trust in our solar power plant maintenance services,” says Heikki Roivainen, Portfolio Manager, Transmission Networks at Enersense.
 

More information:
 

Heikki Roivainen, Portfolio Manager, Transmission Networks
Tel.: +358 40 641 7442
Email: heikki.roivainen@enersense.com

 

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs

Tel.: +358 40 043 7515
Email: tommi.manninen@enersense.com
 

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Helen_ENG_17112023

Enersense and EV charging user interface developer Monta to collaborate

Enersense International Plc
Press release, 8 November 2023 at 11:00 a.m.

Enersense, a manufacturer of high-power charging stations, has signed an agreement with Monta, a Danish operator developing user interfaces for electric vehicle charging. With the agreement, Enersense will be able to offer the services of Monta’s advanced payment and management platform both in Finland and in the global market to charging station operators and consumer customers.

With the partnership, Enersense’s new and old charging devices will be connected to Monta’s backend system, allowing customers and service providers around the world using Monta’s platform to easily deploy charging devices manufactured by Enersense to their own charging network.

“The new platform replaces the previously used browser-based interface and offers more advanced features such as dynamic pricing and smart charging. To ensure the best charging experience, Monta also offers 24/7 customer support, including driver support. I look forward to working with Monta, and I believe that this cooperation will bring many opportunities in the future, both in Finland and globally,” says Topias Koskela, Head of Electric Vehicle Charging Solutions at Enersense.

Monta is a platform powering the EV ecosystem serving drivers, companies, cities, and the electricity grid with one integrated software solution. Monta was founded in 2020 and currently operates in 32 countries. In 2023, the platform has powered over 500,000 charges per month.

More information:   

Topias Koskela, Head of Electric Vehicle Charging Solutions
Tel. +358 50 401 7294
Email: topias.koskela@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 0437515
Email: tommi.manninen@enersense.com

 

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Monta_ENG_08112023

Enersense’s associated company P2X agrees to deliver green hydrogen to Danisco Sweeteners

Enersense International Plc
Press release, 2 November 2023 at 12:30 p.m.

P2X Solutions has agreed to deliver green hydrogen to Danisco Sweeteners, part of International Flavors & Fragrances Inc. (IFF). Green hydrogen will be used at Danisco’s plant in Kotka in xylitol production in which xylose and hydrogen are always required, among others. Danisco produces xylitol at its Kotka plant under the brand name XIVIA.

Green hydrogen production by using renewable energy will start at P2X Solutions’ plant in Harjavalta during 2024. The process will not release any emissions into the air as does the production of regular hydrogen using natural gas, for example. Work under the equipment and pipeline contract signed by Enersense with P2X last summer started in July 2023. In addition to the equipment and pipeline installation, Enersense will deliver some 70,000 kg of steel structures to the production plant.

Enersense holds 18.5 per cent of P2X Solutions.

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 0437515
Email: tommi.manninen@enersense.com

 

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_P2X_ENG_02112023

The Board of Directors of Enersense International Plc has decided on the payment of the second instalment of a return of capital based on the authorisation granted by the Annual General Meeting

Enersense International Plc
Stock exchange release 27 October 2023 at 12:05 p.m.

Enersense International Plc’s Board of Directors has decided on the record date and payment date for the second instalment of a return of capital of EUR 0.05 for the financial year 2022 authorised by Annual General Meeting on 4 April 2023.

Based on the Board of Directors’ decision, the second instalment of a return of capital, EUR 0.05 per share, will be paid to the shareholders who are registered in the shareholders’ register maintained by Euroclear Finland Oy on the record date of 1 November 2023. The payment date for the second instalment of the return of capital is on 8 November 2023.

The Annual General Meeting resolved that the result for the financial period 1 January 2022 to 31 December 2022 be transferred to the profit and loss account for previous financial periods and that, based on the balance sheet to be adopted for the financial period, funds be distributed to shareholders from the invested unrestricted equity reserve of the company as a return of capital of EUR 0.10 per share, i.e. EUR 1,649,253.10 in total, calculated on the basis of the outstanding shares on the date of the notice convening the Annual General Meeting. The return of capital was decided to be paid in two instalments.

The first instalment, EUR 0.05 per share was paid May, 2023.

ENERSENSE INTERNATIONAL PLC  
Tommi Manninen  
SVP, Communications and Public Affairs  

Additional information:

Tommi Manninen, SVP, Communications and Public Affairs
Tel: +358 40 043 7515
Email: tommi.manninen@enersense.com

Distribution:
Nasdaq Helsinki
Major Media
www.enersense.com

Enersense lyhyesti:  
Enersense International Oyj on päästöttömien energiaratkaisujen toteuttaja, joka on vahvasti mukana tukemassa vallitsevaa energiamurrosta ja mahdollistamassa päästötöntä yhteiskuntaa. Enersense-konsernin liikevaihto vuonna 2022 oli 282 miljoonaa euroa. Yhtiö työllistää yhteensä noin 2 000 henkilöä, ja se toimii Suomessa ja kansainvälisesti. Enersensen osake noteerataan Nasdaq Helsingissä (ESENSE). Yhtiön verkkosivut sijoittajille löytyvät osoitteesta www.enersense.fi/sijoittajalle. 

Enersense_return_of_capital_II_instalment_27102023

Enersense International Plc’s January-September 2023 Business Review: Strong growth in all business areas – full-year revenue expected to be over EUR 330 million

Enersense International Plc
Stock exchange release 27 October 2023 at 12:00 p.m.

The figures in this release are unaudited. The figures in brackets refer to the comparison period (the corresponding period of the previous year), unless otherwise stated. All figures and amounts have been rounded off from exact figures, which may result in minor inaccuracies in additions or subtractions.

JULY–SEPTEMBER 2023

• Revenue EUR 94.2 (64.4) million, 46.2% year-on-year.
• EBITDA EUR 3.9 (4.0) million, EBITDA margin 4.2 (6.3)%.
• There were no items affecting comparability in the third quarter. Adjusted EBITDA for the comparison period was EUR 4.3 million, or 6.6% of revenue.
• Operating profit EUR 1.6 (1.9) million, profit margin 1.7 (3.0)%.
• Undiluted earnings per share EUR -0.05 (0.08).

JANUARY–SEPTEMBER 2023

• Revenue EUR 255.5 (184.4) million, 38.5% year-on-year.
• EBITDA EUR 7.0 (8.8) million, EBITDA margin 2.8 (4.8)%.
• Adjusted EBITDA EUR 7.5 (9.3) million, or 2.9 (5.0)% of revenue.
• Operating profit EUR -0.1 (2.4) million, profit margin 0.0 (1.3)%.
• Undiluted earnings per share EUR -0.39 (-0.23).
• The order backlog stood at EUR 511 (385) million at the end of September.
• On 22 August 2023 Enersense announced that it had signed with Telia Finland a one-year extension agreement on the provision of telecommunications network field services. The value of the agreement is EUR 25 million.

Updated guidance for the 2023 financial period

In 2023, Enersense’s revenue is expected to be over EUR 330 million and adjusted EBITDA in the range of EUR 12–18 million.

Despite the general economic uncertainty, the market situation in Enersense’s business areas has continued to be good in the beginning of the year and the favourable development is expected to continue. The company’s strong order backlog gives a good basis for increasing revenue. 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.

Earlier guidance, issued on 8 May 2023:

In 2023, Enersense’s revenue is expected to be over EUR 300 million and adjusted EBITDA in the range of EUR 12–18 million.

Despite the general economic uncertainty, the market situation in Enersense’s business areas has continued to be good in the beginning of the year and the favourable development is expected to continue. The company’s strong order backlog gives a good basis for increasing revenue. 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.

Key figures

Accounting of wind power projects was changed from the beginning of 2023. Comparison figures for 2022 are reported according to the new accounting principle.

 

 

7–9/2023

7–9/2022

1–9/2023

1–9/2022

1–12/2022

Revenue (EUR 1,000)

 94,168

 64,390

 255,491

 184,419

 281,997

EBITDA (EUR 1,000)

 3,945

 4,047

 7,049

 8,844

 12,210

EBITDA, %

 4.2

 6.3

 2.8

 4.8

 4.3

Adjusted EBITDA (EUR 1,000)

 3,945

 4,255

 7,459

 9,303

 13,654

Adjusted EBITDA, %

 4.2

 6.6

 2.9

 5.0

 4.8

Operating profit (EUR 1,000)

 1,597

 1,929

 -51

 2,385

 3,479

Operating profit, %

 1.7

 3.0

 0.0

 1.3

 1.2

Result for the period (EUR 1,000)

 -1,129

 1,169

 -6,793

 -4,258

 -9,835

Equity ratio, %

 26.8

 39.0

 26.8

 39.0

 28.8

Gearing, %

 72.7

 19.6

 72.7

 19.6

 19.0

Return on equity, %

 -1.9

 2.9

 -11.5

 -10.4

 -17.5

Earnings per share, undiluted, EUR

 -0.05

 0.08

 -0.39

 -0.23

 -0.57

Earnings per share, diluted, EUR

 -0.05

 0.08

 -0.39

 -0.23

 -0.57

President and CEO Jussi Holopainen

“Enersense’s revenue has grown strongly in 2023. This trend continued in the third quarter, and the Group’s revenue in January–September 2023 grew to EUR 255.5 (184.4) million, with an increase of 38.5% year-on-year. The order backlog remained strong and stood at EUR 511 (385) million at the end of the review period. The Group’s adjusted EBITDA was7.5 (9.3) million. In the review period, growth investments had an impact of EUR -6.3 (-3.4) million on EBITDA. EBITDA for the review period includes, in addition to adjustment items, also EUR 0.9 (4.2) million stemming from items outside the ordinary course of business. EBITDA in the comparison period increased as a result of significant sales revenue from wind power projects, too.

In the third quarter, we focused on our core activities, in which our work to improve profitability is already producing results. Our strong order backlog is keeping business volumes at a good level, which is reflected in the positive profitability trend in our core business operations, although growth investments continue to burden overall profitability.

This is particularly prominent in our Smart Industry business, where the profitability of service and project business operations has developed strongly, but investments in offshore business operations are burdening the overall profitability of the business area. After a difficult 2022, the profitability of the International Operations business area has turned clearly positive in 2023, and this trend continued in the third quarter. In the Connectivity business area, the profitability improvement programme and high volumes supported by a strong order backlog had a positive impact on profitability in the third quarter. In August, we announced that we had signed an extension agreement of EUR 25 million with Telia Finland on the provision of field services for Telia Finland’s telecommunications network. The extension agreement covers nearly all Connectivity’s services and is one of the most comprehensive agreements in Connectivity. We are very pleased that our long-term cooperation with Telia Finland continues.

In the Power business area, revenue increased markedly year-on-year, and EBITDA remained at the same level as in the third quarter of 2022. Of the core businesses, the construction of transmission networks, in particular, continued steadily. In October, we announced an extension agreement on basic maintenance services for Fingrid’s substations and power lines for 2024–2026. The extension agreement is a clear indication that the customer values our expertise and the benefits of long-term cooperation. The agreement further strengthens our position as a provider of maintenance and operation services for electricity networks in Finland. Our wind power projects progress as planned, too. In September, we sold our minority stake in the Soidinmäki wind farm. We continue to be responsible for O&M services during the operation of the wind farm under a multiyear agreement that covers the monitoring and maintenance of the substation and the electricity network. The transaction did not have a significant impact on the Power business area’s EBITDA in the third quarter of 2023. Zero-emission transport is one of the focus areas of the Group’s growth strategy. In the spring, we moved to industrial-scale production in our high-power charging stations by starting cooperation with Scanfil and we already have contracts to deliver equipment not only to Finland but also to Norway and Sweden. We see many opportunities for us in the Nordic charging market. Ramping up the electric vehicle charging solutions business continues.

Overall, our performance in the third quarter of 2023 met our expectations. Year-on-year, we are slightly behind our EBITDA in 2022, mainly because of significant revenues from wind power projects and the positive impact of corporate arrangements in the comparison period, as well as expenses related to the introduction of the new ERP system in 2023, which are somewhat higher than in 2022. Based on the strong growth during the early part of the year as well as on the order backlog that is on a good level, we have today updated our outlook for 2023 as regards to the revenue development. We expect the full-year revenue to grow over EUR 330 million. Guidance for the EBITDA remains unchanged.”

This release is a summary of Enersense’s January-September 2023 Business Review. The complete report is attached to this release as a pdf-file. It is also available on the company’s website at www.enersense.com/press-releases/reports-and-presentations/.

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs

More information: 

Jussi Holopainen, CEO 
Tel. +358 44 517 4543 
Email: jussi.holopainen@enersense.com

Mikko Jaskari, CFO
Tel.: +358 40 053 5337​
Email: mikko.jaskari@enersense.com​

Media contacts: 
Tommi Manninen, SVP, Communications and Public Affairs 
Tel. +358 40 043 7515 
Email: tommi.manninen@enersense.com

Distribution:
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Q3BusinessReview_SER_27102023
enersense business review q3 2023

Enersense International Plc´s financial reporting and Annual General Meeting in 2024

Enersense International Plc
Stock Exchange Release 6 October 2023 at 9:15 a.m.

Enersense International Plc´s Financial Statements Bulletin for the year 2023 will be published on Thursday 29 February 2024. Financial Statements and Board of Directors’ Report for 2023 will be published during week 10.

In addition, Enersense will publish two Business Reviews and a Half-year Financial Report in 2024:

  • January-March on Friday 26 April 2024.
  • January-June on Thursday 1 August 2024.
  • January-September on Monday 28 October 2024.

Enersense International Plc´s Annual General Meeting 2024 is planned to be held on Thursday 4 April 2024. Enersense’s Board of Directors will summon the Annual General Meeting at a later date.

A shareholder who wishes to include a matter on the agenda of the Annual General Meeting should submit such request by 16 February 2024 to Enersense International Plc/Legal, Konepajanranta 2, 28100 Pori or by e-mail to yhtiokokous@enersense.com.

ENERSENSE INTERNATIONAL PLC

Tommi Manninen
SVP, Communications and Public Affairs

More information:  

Tommi Manninen, SVP, Communications and Public Affairs
Tel. +358 40 043 7515  
Email: tommi.manninen@enersense.com

DISTRIBUTION:
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_financial_calendar_2024_ENG_06102023

Enersense continues as Fingrid’s partner for substation and power line maintenance

Enersense International Plc
Press release 2 October at 10:30 a.m.

Enersense, a provider of zero-emission energy solutions, has been chosen, in a public procurement tendering, as one of Fingrid’s partner for maintenance services for its substations and power lines in 2024-2026. The upcoming period is a continuation for the agreement made for the years 2021-2023 and it reinforces the long-term co-operation between Enersense and Fingrid for the services in question.

“The reselection of Enersense as one of Fingrid’s maintenance service providers clearly demonstrates our capabilities and the appreciation of them as well as the benefits of long-term co-operation for a customer. The forthcoming agreement strengthens our position as a provider of maintenance and operating services for transmission networks in Finland”, says Joni Parkkinen, Vice President, Transmission Networks, Power business area.

Maintenance and operating services for transmission networks are a central part of Enersense’s core capabilities alongside with transmission network design and construction. The decision will enter into force after the end of the appeal period under the Act on Public Procurement and Concession Contracts.

More information:

Joni Parkkinen, Vice President, Transmission Networks, Power
Tel.: +358 50 537 5837
Email: joni.parkkinen@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Fingrid_ENG_02102023

The Soidinmäki wind farm has been completed and handed over to the buyer

Enersense International Plc
Investor news, 28 September 2023 at 2.10 p.m.

Enersense, a provider of zero-emission energy solutions, has sold its minority stake in the Soidinmäki wind farm. The shares have been recognised at fair value on the company’s balance sheet, and the transaction will not have a significant impact on the Power business area’s EBITDA in the third quarter 2023.

The Soidinmäki wind farm in Saarijärvi has seven wind power plants, and its annual production is estimated at 126 GWh. Enersense served as an upstream project developer and the main contractor during the construction phase of the wind farm. The turnkey delivery included all design and construction, including the foundations, roads and crane pads for the power plant, as well as its electricity network and substation.

“We are very pleased that our wind power projects are progressing as planned. After the sale of the minority stake, Enersense will continue to be responsible for O&M services during the operation of the wind farm under a multi-year agreement, which covers the monitoring and maintenance of the substation and the electricity network,” says Lauri Lammivaara, Vice President, Wind Power Development, Power business area.

More information:

Lauri Lammivaara, Vice President, Wind Power Development
Tel.: +358 440 330 498
Email: lauri.lammivaara@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 0437515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Soidinmäki_ENG_28092023

Enersense participates in the Front End Engineering Design (FEED) for Tahkoluoto offshore wind farm foundations

Enersense International Plc
Press release 18 Sep 2023 klo 12.15 p.m.

Enersense, a provider of zero-emission energy solutions, is participating in Suomen Hyötytuuli’s Front End Engineering Design for Tahkoluoto offshore wind farm foundations. Hyötytuuli is developing an extension to Tahkoluoto offshore wind farm on the west coast of Finland where the wind turbines will be built in deeper waters than ever before in Finland. The FEED is due to be completed in November and the concept selection will be done in December 2023.

The foundations of the first turbines in the Tahkoluoto extension project will be built to 40 and 25 meters water depth. They will be designed to withstand the loads of the 15+ megawatt turbines and the harsh icy conditions of the Baltic Sea. Enersense Offshore’s concrete and steel hybrid foundation concept has been selected to the FEED together with two other foundation concepts. Enersense’s foundation concept is designed especially to the icy part of the Baltic Sea and the development work has focused especially on the cost effectiveness of the marine installation operations of the foundation.

Tahkoluoto extension project consists of forty wind turbines of over 15 megawatts. The water and construction permits are expected to be finalised this autumn. The project has received funding from EU’s NextGenerationEU.

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs 
Tel. +358 40 043 7515 
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Hyötytuuli_ENG_18092023

Enersense becomes main partner of Ässät – Pori ice hall turns into Enersense Areena

Enersense International Plc
Press release 8 September 2023 at 10:00 a.m.

Enersense, a provider of zero-emission energy solutions, and the ice hockey club Porin Ässät have signed a main partner agreement. Along with the cooperation, the new name of the ice hall in Pori will be Enersense Areena.

“Ice hockey has long and honorable traditions in Pori and a strong effect in increasing community. As the only listed company headquartered in Pori, we want to be involved in supporting Satakunta’s well-being and development in this way as well. In Ässät, issues related to sustainability have also been taken into account in a significant way, which is of primary importance to us when choosing a partner,” states Enersense’s CEO Jussi Holopainen.

Enersense, which is listed on Nasdaq Helsinki and operates internationally, not only has its headquarters in Pori, but also Enersense Offshore in Mäntyluoto, which employs several hundred people and specializes in offshore wind power platform solutions. There are also operations in Satakunta in Harjavalta and Rauma.

The first game at Enersense Areena is the league opening game Ässät-Ilves on 13 September 2023.

Media contacts: 

Tommi Manninen, SVP, Communications and Public Affairs 
Tel. +358 40 043 7515 
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

enersense-porin-ässät-08092023
Enersense Areena

Correction to stock exchange release: Enersense International Plc’s Shareholders’ Nomination Board

Enersense International Plc
Stock exchange release 6 September 2023 at 4:45 p.m.

Enersense corrects its stocks exchange release about the composition of the Shareholders’ Nomination Board published today at 2:15 p.m. The name of the Verman Holding’s representative was incorrect. The entire corrected stock exchange release is available below:

According to the decision of Enersense International Plc’s Annual General Meeting, the three shareholders who hold the largest share of the votes cast by all the company’s shares according to the shareholders’ register maintained by Euroclear Finland Ltd on the first working day of September preceding the Annual General Meeting, have the right to nominate members representing shareholders. At the request of the Committee, the Chairman of the Board of Directors may act as an expert on the Nomination Board without membership or the right to vote.

Based on the ownership status of Enersense International Plc on 1 September 2023, the three major shareholders and their representatives have been appointed to Enersense International Plc’s Shareholders’ Nomination Board as follows:

Alexander Ehrnrooth, Nidoco

Marjo Miettinen, Ensto Invest

Janne Vertanen, Verman Holding.

Enersense International Plc’s Nomination Board prepares and presents to the Annual General Meeting and, if necessary, to the Extraordinary General Meeting proposals on

* the remuneration of the Board of Directors

* the number of the Board of Directors ,and

* the members of the Board of Directors.

The now appointed Nomination Board will forward its proposals for the 2024 Annual General Meeting to the Board of Directors by 31 January 2024.

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs

More information: 

Tommi Manninen, SVP, Communications and Public Affairs 
Tel. +358 40 043 7515 
Email: tommi.manninen@enersense.com

DISTRIBUTION:
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_correction_Nomination_Board_06092023

Enersense International Plc’s Shareholders’ Nomination Board

Enersense International Plc
Stock exchange release 6 September 2023 at 2:15 p.m.

According to the decision of Enersense International Plc’s Annual General Meeting, the three shareholders who hold the largest share of the votes cast by all the company’s shares according to the shareholders’ register maintained by Euroclear Finland Ltd on the first working day of September preceding the Annual General Meeting, have the right to nominate members representing shareholders. At the request of the Committee, the Chairman of the Board of Directors may act as an expert on the Nomination Board without membership or the right to vote.

Based on the ownership status of Enersense International Plc on 1 September 2023, the three major shareholders and their representatives have been appointed to Enersense International Plc’s Shareholders’ Nomination Board as follows:

Alexander Ehrnrooth, Nidoco

Marjo Miettinen, Ensto Invest

Janne Verman, Verman Holding.

Enersense International Plc’s Nomination Board prepares and presents to the Annual General Meeting and, if necessary, to the Extraordinary General Meeting proposals on

* the remuneration of the Board of Directors

* the number of the Board of Directors, and

* the members of the Board of Directors.

The now appointed Nomination Board will forward its proposals for the 2024 Annual General Meeting to the Board of Directors by 31 January 2024.

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs

More information: 

Tommi Manninen, SVP, Communications and Public Affairs 
Tel. +358 40 043 7515 
Email: tommi.manninen@enersense.com

DISTRIBUTION:
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Nomination_Board_ENG_06092023

Enersense has entered into an extension agreement of EUR 25 million with Telia Finland

Enersense International Plc
Investor news, 22 August 2023 at 1.10 p.m.

Enersense, a provider of zero-emission energy solutions, and Telia Finland have signed a one-year extension agreement on the provision of telecommunications network field services.

The value of the agreement is EUR 25 million. The order will be recognised in the order backlog of Enersense’s Connectivity business area for the third quarter of 2023.

The agreement includes mobile network and fixed network construction services, customer delivery and repair services and preventive maintenance services in Finland. The agreement is a continuation of the companies’ long-term cooperation, and its substance corresponds to the scope of their previous framework agreement on field services. The new agreement period will begin on 1 April 2024.

“Cooperation with Telia is very important to us. The extension agreement covers nearly all the services we provide and is one of the most comprehensive agreements in Connectivity. We are pleased to continue our joint development work, where we see significant potential for the provision of services for the entire sector in the future. I would like to thank Telia and our own personnel for their forward-looking work of a high quality,” says Miika Erola, Vice President, Connectivity at Enersense.

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs

More information:

Miika Erola, Vice President, Connectivity
Tel.: +358 40 641 7041
Email: miika.erola@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Telia_ENG_22082023

The Resolutions of the Shareholders’ Meeting of the merged MBÅ Invest Oy

Enersense International Plc
Press release, 16 August 2023 at 11:00 a.m.

The final Shareholders’ Meeting of MBÅ Invest Oy (“MBÅ Invest”), which has merged into Enersense International Plc (“Enersense”), has adopted MBÅ Invest’s financial statements for the period January 1 – March 31, 2023 as the final accounts concerning the merger.

MBÅ Invest merged into Enersense on April 1, 2023.

Further information:
Tommi Manninen, Communications and Public Affairs
Telephone: +358 40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

enersense-mbå-invest-eng-230816

Enersense to deliver charging equipment to the Tuuri department store and fast and high-power chargers to several partners

Enersense International Plc
Press release, 15 August 2023 at 11:00 am

Enersense Charging Oy, a manufacturer of fast and high-power charging equipment, will deliver ten pieces of 80 kW and 160 kW fast and high-power charging equipment and six lower-power DC chargers during 2023 to the Leppäkoski Group energy company, Lähilataus Oy and the Antti Simula & Co taxi service company.

Enersense has also entered into an agreement with Veljekset Keskinen Oy on the delivery of twenty 22 kW AC charging points to the Tuuri department store. The delivery includes the connection and commissioning of the equipment. Enersense is also responsible for the payment and management services for the charging points.

“These agreements are important openings for us in the domestic market. Enersense is able to provide various partners with turnkey solutions for high-power and lower-power charging,” says Topias Koskela, Head of Electric Vehicle Charging Solutions at Enersense.

More information:

Topias Koskela, Head of Electric Vehicle Charging Solutions, Power
Tel. +358 50 4017294
Email: topias.koskela@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel. +358 40 0437515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

enersense-ev-press-release-230815

Enersense receives its first agreement for battery storage maintenance in Lithuania

Enersense International Plc
Press release 4 August 2023 at 12:15 p.m.

A Lithuanian subsidiary of Enersense International Plc, a provider of zero-emission energy solutions, Enersense UAB, which operates in the business area of International Operations, has signed an agreement with Fluence Energy GmbH, a provider of energy storage solutions, regarding the maintenance of electricity storage systems in the regions of Alytus, Vilnius, Utena and Šiauliai. The battery storage system has a total capacity of 200 MWh, and it is the first of its kind in Lithuania.

Energy cells UAB, to whom Fluence Energy has delivered the storage system, manages electricity storage facilities in Lithuania. For the integration of energy generated from renewable energy sources, a battery system is used to ensure the instantaneous reserve of isolated working electricity for Lithuania until it is synchronized with continental European networks (KETs).

The agreement is a continuation of good cooperation between Enersense and Fluence Energy in Finland, where Enersense provides maintenance services and operates as an expert partner for Fluence Energy’s 20 MWh battery storage facility in Kerava.

“We are pleased that Fluence Energy GmbH chose us as its partner, and the signed agreement is an important market opening for us in the Lithuanian electricity storage market. An energy self-sufficient Europe needs such projects, and it is great to be a part of this,” says Artūras Lapinskas, Enersense’s Managing Director for Lithuania.

More information: 

Artūras Lapinskas, Managing Director, Lithuania
Tel. +370 66 931 038
Email: arturas.lapinskas@enersense.com

Media contacts: 
Tommi Manninen, SVP, Communications and Public Affairs 
Tel. +358 40 043 7515 
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

enersense_fluence_energy_eng_230804

Enersense International Plc’s Half-year Financial Report January–June 2023: Strong growth continued – profitability improved in core businesses

Enersense International Plc
Half-year Financial Report 3 August 2023 at 12:00 p.m.

The figures in this release are unaudited. The figures in brackets refer to the comparison period (the corresponding period of the previous year), unless otherwise stated. All figures and sums have been rounded off from the exact figures which may lead to minor discrepancies upon addition or subtraction.

APRIL–JUNE 2023

•  Revenue EUR 86.3 million (59.8), 44.3% year-on-year.

•  EBITDA EUR 3.0 million (-0.6), EBITDA margin 3.5% (-1.0).

•  Adjusted EBITDA EUR 3.1 million (-0.4), or 3.6% of revenue (-0.7).

•  Operating profit EUR 0.6 million (-2.8), profit margin 0.7% (-4.6).

•  Undiluted earnings per share EUR -0.11 (-0.25).

JANUARY–JUNE 2023

•  Revenue EUR 161.3 million (120.0), 34.4% year-on-year.

•  EBITDA EUR 3.1 million (4.8), EBITDA margin 1.9% (4.0).

•  Adjusted EBITDA EUR 3.5 million (5.0), or 2.2% of revenue (4.2).

•  Operating profit EUR -1.6 million (0.5), profit margin -1.0% (0.4).

•  Undiluted earnings per share EUR -0.34 (-0.31).

•  Onshore wind power project portfolio was approximately 8,100 MW at the end of the reporting period (at 12/2022: approximately 8,000 MW).

•  The order backlog at EUR 527 million (295) at the end of the first half of the year.

•  On 1 June 2023 Enersense announced that it has initiated an evaluation of options to further accelerate its growth ambitions within its Power segment, specifically the strategy to become a significant zero-emission energy producer.

•  On 19 June 2023 Enersense announced that it has signed a 35-million euro add-on turnkey contract with Elisa, a Finnish telecommunications and digital services company, for the construction of Elisa’s Fibre to the Home optic fibre network in Finland.

After the review period:

•  On 27 July 2023 Enersense announced that it changed the accounting of wind power projects from the beginning of 2023 and published comparison figures for 2022.

Guidance for the financial period 2023
(issued on 8 May 2023)

In 2023, Enersense’s revenue is expected to be over EUR 300 million and adjusted EBITDA in the range of EUR 12–18 million.

Despite the general economic uncertainty, the market situation in Enersense’s business areas has continued to be good in the beginning of the year and the favourable development is expected to continue. The company’s strong order backlog gives a good basis for increasing revenue. 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.

Key figures

Accounting of wind power projects was changed from the beginning of 2023. Comparison figures for 2022 are reported according to the new accounting principle.

4–6/2023 4–6/2022 1–6/2023 1–6/2022 1–12/2022
Revenue (EUR 1,000)                   86,324                   59,827                  161,322                 120,030                 281,997
EBITDA (EUR 1,000)                     3,046                       -614                     3,103                     4,797                    12,210
EBITDA, %                         3.5                        -1.0                         1.9                         4.0                         4.3
Adjusted EBITDA (EUR 1,000)                     3,122                       -431                     3,514                     5,048                   13,654
Adjusted EBITDA, %                         3.6                        -0.7                         2.2                         4.2                         4.8
Operating profit (EUR 1,000)                        645                    -2,772                    -1,648                        455                     3,479
Operating profit, %                         0.7                        -4.6                        -1.0                         0.4                          1.2
Result for the period (EUR 1,000)                    -1,886                    -4,133                   -5,663                    -5,427                   -9,835
Equity ratio, %                       27.8                       40.2                       27.8                       40.2                       28.8
Gearing, %                       66.6                       32.7                       66.6                       32.7                       19.0
Return on equity, %                        -3.2                        -6.3                        -9.5                       -9.9                      -17.5
Earnings per share, undiluted, EUR                       -0.11                      -0.25                     -0.34                      -0.31                      -0.57
Earnings per share, diluted, EUR                       -0.11                      -0.25                     -0.34                      -0.31                      -0.57

President and CEO Jussi Holopainen

“Enersense’s strong growth continued in the second quarter. The Group’s revenue increased by 34.4% in January–June and was EUR 161.3 (120.0) million. The order backlog stood at EUR 527 (295) million. The Group’s adjusted EBITDA was EUR 3.5 (5.0) million. The profitability of core business operations improved in all business areas, but investments in strategic focus areas had a negative impact of EUR 3.2 million on the EBITDA. In the comparison period, the recognition of EUR 8.5 million arising from the Enersense Wind acquisition had a positive impact on the EBITDA. On the other hand, the operating environment in early 2022 was very exceptional because of the Russian attack on Ukraine and the strike in the ICT sector in particular, which burdened the result for the comparison period.

Our work to improve the profitability of our core business operations has begun to produce results.
In Smart Industry in particular, the growth of volumes in service and project business operations is reflected in improved profitability. In the International Operations and Connectivity business areas, the good volumes and profitability improvement measures produced results in the first half of the year. High activity in the construction of high-voltage power lines continues in the Baltic countries, and since the end of 2022, Connectivity has announced optical fibre connection construction contracts totalling around EUR 100 million, which will increase business volumes. The market situation in the Power business area continues to be good, and after the seasonally challenging first quarter, the profitability of core business operations improved in the second quarter. Enersense plays an important role in projects related to Finland’s main grid, and in the first half of the year, we won projects totalling around EUR 40 million.

During the past five years, Enersense has been the strongest grower on Nasdaq Helsinki by revenue growth (CAGR). In line with our specified strategy, we are actively investing in strengthening our position also in our strategic focus areas. At the beginning of June, we announced that we had started an assessment of the options to accelerate the achievement of the Power business area’s growth targets and especially our strategic target to become a significant producer of clean energy. Our own energy production target is 600–700 MW by 2027, which we have estimated will require investments of EUR 700–800 million. We are now looking for the best possible solution to boost the implementation of our growth strategy. At the end of the review period, our renewable energy project portfolio was around 8,100 MW (December 2022: 8,000 MW), which provides a good basis for our determined progress towards our own energy production target.

In charging solutions for zero-emission transport, we moved to industrial-scale production by starting cooperation with Scanfil during the review period. Enersense’s new high-power charger makes it possible to increase the charging power of an individual charging device from 30 kW to 160 kW. We believe that this cooperation will offer us good growth opportunities. During summer 2023, we will deliver high-power charging solutions to Norway, Finland and Sweden, and we are seeing plenty of opportunities in the Nordic charging site market.

In June, we announced that the City of Pori had started to build an international centre of excellence and operations for offshore wind power. Enersense is involved in the project, and our expertise in offshore wind power as well as our production facilities (50,000 m2) in Mäntyluoto in Pori are playing an important role in building the centre of excellence. The Bothnian Sea region is one of the most favourable areas for the construction of wind power plants, even in international comparison: a total of 15 major power plant projects within a radius of 400 kilometres from Pori have been announced in Finland and Sweden. The centre of excellence supports Enersense’s growth targets and enables Enersense to further strengthen its role as an EPCI supplier in offshore wind power projects. Investments in the ramp-up of Enersense Offshore, which we acquired in autumn 2021, are also beginning to materialise. At the beginning of July, Aker Solutions ordered steel structure modules from Enersense for the Hugin A production platform, which is part of the development of the Yggdrasil oil and gas field operated by Aker BP in the North Sea. We believe that a well-executed project will enable the expansion of our cooperation into the rapidly growing energy market, where Aker Solutions has strong experience..

Alongside strategic projects, we are continuing our work to streamline our core business portfolio. We are aiming to focus on our core competences and divest operations that are not integral to them. As part of this review, we sold all shares in Enersense Solutions to Econia, which is part of Administer Group. Enersense Solutions provides contractor liability services, and the transaction also included its E-Sense system. A capital gain of EUR 0.9 million from the transaction was recorded in the second quarter.”

This release is a summary of Enersense’s Half-year Financial Report. The complete report is attached to this release as a pdf-file. It is also available on the company’s website at www.enersense.com/press-releases/reports-and-presentations/.

ENERSENSE INTERNATIONAL PLC

Tommi Manninen
SVP, Communications and Public Affairs

More information: 

Jussi Holopainen, CEO 
Tel. +358 44 517 4543 
Email: jussi.holopainen@enersense.com

Mikko Jaskari, CFO
Tel.: +358 40 053 5337​
Email: mikko.jaskari@enersense.com​

Media contacts: 
Tommi Manninen, SVP, Communications and Public Affairs 
Tel. +358 40 043 7515 
Email: tommi.manninen@enersense.com

Distribution:
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_stock_exchange_release_half_year_financial_report_2023
enersense half year financial report 2023

Enersense changes the accounting of wind power projects and publishes comparison figures for 2022

Enersense International Plc
Stock exchange release, 27 July 2023 at 2:00 p.m.

Enersense changes the accounting of wind power projects from the beginning of 2023 so that realised sales gains from completed wind power projects are recognised in revenue in the income statement, whereas they were previously included in other operating income. In addition, distribution of funds to minority shareholders which is based on a shareholder agreement are recognised in financial expenses in the income statement, while they were previously treated as decreases in equity.

These changes are related to the specification of accounting principles the aim of which is to provide clearer and more comparable information about Enersense’s wind power projects and their impact on the company’s financial results.

Impact of the change in accounting on the group’s turnover, financial expenses and earnings per share

As a result of the change, revenue increased by EUR 6.4 million for the first quarter and by EUR 7.5 million for the fourth quarter of 2022. The full-year revenue increased by EUR 14 million in total. Other operating income decreased correspondingly. The change had no impact on operating results for 2022.

Financial expenses increased by EUR 2.5 million for the first quarter and by EUR 4.9 million for the fourth quarter of 2022. Full-year financial expenses increased by EUR 7.4 million.

Earnings per share decreased by EUR 0.16 for the first quarter and by EUR 0.30 for the fourth quarter of 2022. Full-year earnings per share decreased by EUR 0.46.

Impact of the change in accounting on the Power segment’s revenue and EBITDA-%

The Power segment’s revenue increased by EUR 6.4 million for the first quarter and by EUR 7.5 million for the fourth quarter of 2022. The full-year revenue increased by EUR 14 million in total. The change had no impact on EBITDA, but it decreased the EBITDA-% by 18.8 percentage points for the first quarter and by 14.3 percentage points for the fourth quarter of 2022.

Key comparison figures for 2022 by quarter are presented below for the Group and the Power segment following the changes defined above.

The group’s changed key figures for 2022

1–3/2022 4–6/2022 6–9/2022 10–12/2022 1–12/2022
Revenue (EUR 1,000)                   60,202                   59,827                  64,390                   97,578                 281,997
EBITDA (EUR 1,000)                     5,410                       -614                     4,047                     3,367                    12,210
EBITDA, %                         9.0                        -1.0                         6.3                         3.5                         4.3
Adjusted EBITDA (EUR 1000)                     5,479                       -431                     4,255                     4,350                   13,653
Adjusted EBITDA, %                         9.1                        -0.7                         6.6                         4.5                         4.8
Operating result (EUR 1,000)                     3,227                    -2,772                     1,929                     1,095                     3,479
Operating result, %                         5.4                        -4.6                         3.0                          1.1                          1.2
Financial income and expenses                    -3,707                      -678                      -786                   -5,336                  -10,507
Result for the period (EUR 1,000)                    -1,294                    -4,133                      1,169                    -5,577                   -9,835
Return on equity, %                        -2.6                        -6.3                         2.9                       -9.9                      -17.5
Earnings per share, undiluted, EUR                     -0.06                     -0.25                       0.08                     -0.34                      -0.57
Earnings per share, diluted, EUR                     -0.06                     -0.25                       0.08                     -0.34                      -0.57

The Power segment’s changed key figures for 2022

EUR million 1–3/2022 4–6/2022 6–9/2022 10–12/2022 1–12/2022
Revenue                20,763                14,043                14,556                25,596                74,958
EBITDA                  8,756                     599                   1,147                  8,735                19,237
EBITDA, %                    42.2                      4.3                      7.9                    34.1                    25.7

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs

More information:

Jussi Holopainen, CEO
Tel.: +358 44 517 4543
Email: jussi.holopainen@enersense.com

Mikko Jaskari, CFO
Tel.: +358 40 053 5337​
Email: mikko.jaskari@enersense.com​

Distribution:
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 282 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Comparison_figures2022_27072023

Enersense has signed an agreement with P2X on an equipment and pipeline contract for a green hydrogen production plant

Enersense International Plc
Investor news, 18 July 2023 at 11:15 a.m.

Enersense, a provider of zero-emission energy solutions, has signed an agreement with P2X on an equipment and pipeline contract for Finland’s first renewable green hydrogen production plant. The plant is under construction in Harjavalta and is expected to be commissioned in 2024. The order will be recognised in the order book of Enersense’s Smart Industry business area for the third quarter of 2023.

Earlier this year, Enersense announced that it would be delivering steel structures for reactor modules to Q Power, a supplier of Power-to-X technology, which will be building a synthetic methane plant in connection with P2X’s green hydrogen production plant. 

“It is great to be involved in this project in terms of demanding pipelines. Including the reactor modules to be delivered to Q Power, we are playing a significant role in Finland’s first green hydrogen construction project. These assignments also support the Smart Industry business area’s growth targets,” says Mikko Lampinen, COO, Enersense Works.

Enersense owns 16.3% of P2X Solutions. Through P2X, Enersense is involved in reducing the emissions of heavy transport using hydrogen and synthetic fuels and in enabling energy storage opportunities created by green hydrogen.

More information:

Mikko Lampinen, COO, Enersense Works
Tel. +358 40 079 4543
Email: mikko.lampinen@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 (0)40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_P2X_ENG_18072023

Enersense to deliver offshore steel structures to Aker Solutions in Norway

Enersense International Plc
Investor news 7 July 2023 at 10:30 a.m

Enersense, a provider of zero-emission energy solutions, will deliver steel structures to Aker Solutions in Norway. Aker Solutions is involved in various offshore projects internationally. Aker Solutions has ordered steel structure modules (pre-assembled units) from Enersense for the Hugin A production platform which is part of the Aker BP-operated Yggdrasil oil and gas development in the North Sea. The order will be included in Enersense’s Smart Industry business area’s third quarter 2023 order book.

“This is a new opening for us in the Norwegian offshore market, and we believe that a well-executed project will enable the expansion of our cooperation into the rapidly growing energy market, where Aker Solutions has strong experience. This order is significant to Enersense Offshore and we are taking the next step on the way towards our growth targets. It shows that the investments in the ramp-up of Enersense Offshore, which we acquired in the autumn of 2021, are beginning to materialise and will enable us to further strengthen our own organisation and partner network,” says Jaakko Leivo, EVP, Smart Industry.

The project will begin with engineering and planning in late summer 2023, and the fabrication of the modules will start in Enersense’s production facilities in Mäntyluoto towards the end of the year. The last modules are scheduled to be delivered in December 2024.

Aker Solutions:

Aker Solutions delivers integrated solutions, products and services to the global energy industry. The company enables low-carbon oil and gas production and develops renewable solutions for future energy needs. The company is accelerating the transition to sustainable energy production by combining innovative digital solutions with predictable project implementation. Aker Solutions employs approximately 16,000 people in more than 20 countries.

More information:

Jaakko Leivo, EVP, Smart Industry
Tel.: +358 (0)40 079 4543
Email: jaakko.leivo@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 (0)40 043 7515
Email: tommi.manninen@enersense.com
 

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_AkerSolutions_ENG_07072023

Enersense sells Enersense Solutions, a provider of contractor liability services, to Econia, part of Administer Group

Enersense International Plc
Investor news, 27 June 2023 at 1:00 p.m.

Enersense, a creator of zero emission energy solutions, sells all shares in Enersense Solutions Oy to Econia Oy, part of Administer Group. The purchase amount is EUR 1,000,001 and sales gains of EUR 0.9 million will be recognised in the results of Enersense’s Smart Industry segment for the second quarter.

Enersense Solutions employs 11 people and owns E-Sense, a system used in contractor liability services, which will transfer to Econia through the transaction. Enersense will continue to use the E-Sense system.

More information:
Jaakko Leivo, EVP, Smart Industry
Tel.: +358 (0)40 079 4543
Email: jaakko.leivo@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 (0)40 043 7515
Email: tommi.manninen@enersense.com
 

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

EnersenseSolutions_Econia_ENG_27062023

Enersense to participate in an international centre of excellence and operations for offshore wind power that the City of Pori is building

Enersense International Oyj
Press release 20 June at 06:00 a.m.

Enersense, a creator of zero emission energy solutions, is participating in a center of excellence and operations that the City of Pori is building around offshore wind power. In addition to the city and harbour of Pori as well as Suisto Kiinteistöt, which is owned by the city, also Suomen Hyötytuuli, Enersense and Dutch Olmar, that provides logistical services to the harbour, have representation in the steering group of the project. The aim is that the centre of excellence will also employ international wind power technology and service providers.

“The Bothnian Sea is also in international considerations one of the most suitable areas for wind power turbines: within a radius of 400 km from Pori altogether 15 larger wind power projects have been published in Finland and Sweden. The centre of excellence will support Enersense’s growth ambitions and enables an improved role for Enersense as an EPCI supplier. Enersense’s wind power expertise and our 50,000 m2 production facilities in Mäntyluoto, Pori, have a significant role in building up the centre of excellence, and we believe that the cooperation between the different operators will gather substantial synergies”, says Jaakko Leivo, EVP, Smart Industry.

More information:  

Jaakko Leivo, EVP, Smart Industry  
Tel.: +358 (0)40 079 4543  
Email: jaakko.leivo@enersense.com 

Media contacts:  
Tommi Manninen, SVP, Communications and Public Affairs  
Tel.: +358 (0)40 043 7515  
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Pori_offshore_wind_power_HUB_ENG_20062023

Insider information: Enersense and Elisa have signed a 35-million-euro add-on contract for the construction of an optic fibre network in Finland

Enersense International Plc
Insider information 19 June 2023 at 12:55 p.m.

Enersense, a provider of zero-emission energy solutions, and Elisa, a Finnish telecommunications and digital services company, have signed an add-on turnkey contract for the construction of Elisa’s Fibre to the Home optic fibre network in Finland. The total value of the add-on contract is EUR 35 million, and it more than doubles the volume of optic fibre networks Enersense will construct for Elisa in 2024–2026. The contract will be included in Enersense’s Connectivity business area’s second quarter 2023 order book. The contract is an extension of the companies’ long-term cooperation.

Enersense is responsible for the turnkey delivery, which contains the project management, planning and construction of the network, materials logistics, and customer deliveries.

“We are very pleased that our cooperation in building Elisa’s fibre-to-the-home (FTTH) connections is continuing. Building a zero-emission society is at the core of Enersense’s strategy, and high-speed optical fibre networks have a role to play in this. FTTH construction is expected to grow significantly in Finland in the coming years. It is great that our customers are relying on Enersense’s optical fibre network construction services, and that our business operations are growing with the market,” says Jussi Holopainen, President & CEO, Enersense.

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs

More information: 

Jussi Holopainen, CEO 
Tel. +358 44 517 4543 
Email: jussi.holopainen@enersense.com

Media contacts: 
Tommi Manninen, SVP, Communications and Public Affairs 
Tel. +358 40 043 7515 
Email: tommi.manninen@enersense.com

DISTRIBUTION:
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Elisa_ENG_19062023

Enersense delivers its first high-power charging stations to Norway

Enersense International Plc
Press release 16 June 2023 at 3:00 p.m.

Enersense Charging Oy, a manufacturer of high-power charging stations for electric vehicles, has signed its first contracts to deliver 160 kW high-power charging stations to Norway.

Enersense delivers four ECDC160kW high-power charging stations to Norwegian taxi company Agder Taxi for charging of taxis, e-vans, and e-buses. In addition, Enersense delivers one ECDC160kW charging station to Vennesla Taxi, which handles school transportation in Norway. Enersense’s resale partner in Norway is Metering AS, and installation for both sites is carried out by local subcontractor TM Elektriske.

In addition to Norway, Enersense also delivers high-power charging solutions to many locations in Finland and Sweden during the summer. Enersense sees great potential in the Nordic charging market.

“Zero-emission transport is one of the focus areas of Enersense’s growth strategy. There are many opportunities for us in the Nordic charging market, and we are delighted with how well our new high-power charger has been received,” says Topias Koskela, Head of Electric Vehicle Charging Solutions at Enersense.

More information:   

Topias Koskela, Head of Electric Vehicle Charging Solutions
Tel. +358 50 401 7294
Email: topias.koskela@enersense.com

Media contacts:

Tommi Manninen, SVP, Communications and Public Affairs   
Tel. +358 40 043 7515   
Email: tommi.manninen@enersense.com  

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

enersense_pressrelease_EV_Norway_16062023

Enersense delivers high-power charging stations to Vocational Education Centre in the Jokilaaksot region

Enersense International Plc
Press release 13 June 2023 at 2:05 p.m.

Enersense Charging Oy, a manufacturer of high-power charging stations for electric vehicles, has won the delivery of electric vehicle charging stations to Vocational Education Centre JEDU in a public procurement tendering.

Two 160 kW high-power charging stations will be delivered to the Vocational Education Centre in the Jokilaaksot region, for example for charging electric trucks and vans, as well as for training projects.

“Interest in our new high-power charging station has been great. Due to its high-performance, the station is suitable for a wide range of charging and a wide range of customers, of which this agreement is also a good example,” says Eero Korhonen, Sales Manager for Electric Vehicle Charging Solutions at Enersense.

JEDU, a Vocational Education Centre, offers vocational training in the sub-regions of Siikalatva, Ylivieska, Nivala and Haapajärvi.

More information:

Eero Korhonen, Sales Manager, Electric Vehicle Charging Solutions, Power
Tel.: +358 (0)40 6587236
Email: eero.korhonen@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 (0)40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

enersense_JEDU_pressrelease_13062023

Enersense selected as the main contractor for Fingrid’s Nuojuankangas–Pyhänselkä substation project

Enersense International Plc
Investor news, 6 June 2023 at 10:30 a.m.

Enersense, a creator of zero emission energy solutions, has won the bidding process for Fingrid’s substation contract to build a new transformer substation and expand the 110 kV switchgear in Nuojuankangas. The project also includes the expansion of the substation in Pyhänselkä. The project will employ Enersense until spring 2026. The value of the contract is more than EUR 20 million, and it will be included in Enersense’s Power segment’s second quarter 2023 order book.

The project is part of Fingrid’s larger project to build a new power transmission line from Pyhänselkä to Huutokoski (expansion of the Järvilinja transmission line). The expanded Järvilinja transmission line ensures and maintains the high reliability of the main grid as the need for electricity transmission increases.

“Strengthening Järvilinja is needed in order to transmit renewable energy from northern Finland as well as electricity through Aurora Line from Sweden to southern Finland. In addition, the new capacity enables connecting wind power and industrial sites in eastern Finland and Kainuu region. Substation projects in Pyhänselkä, Muhos and Nuojuankangas, Vaala are the first major steps in strengthening Järvilinja. It is great to execute these projects together with Enersense. The project is important to both Finland’s main grid and the whole society as it enhances achieving Finland’s climate goals and national competitiveness,” says Daniel Kuosa, Construction Manager, Fingrid.

This project is very significant for Enersense.

“New transmission lines are required as the energy transition proceeds, and it is wonderful that we can carry out this significant customer project in substation construction. This contract strengthens our portfolio in carrying out demanding projects in Finland’s main grid and marks one of the largest projects in the history of Enersense’s transmission network operations,” says Joni Parkkinen, Vice President of Enersense Transmission Networks.

The procurement agreement can be signed once the appeal period in accordance with the Act on Public Procurement and Concession Contracts has ended.

More information:

Joni Parkkinen, Vice President, Transmission Networks, Power
Tel.: +358 (0)50 537 5837
Email: joni.parkkinen@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel.: +358 (0)40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Fingrid_InvestorNews_ENG_06062023

Enersense to explore options to further accelerate execution of growth ambitions to become a significant zero-emission energy producer

Enersense International Plc
Stock exchange release 1 June 2023 at 10:00 a.m.

Enersense has initiated an evaluation of options to further accelerate its growth ambitions within its Power segment, specifically the strategy to become a significant zero-emission energy producer. Enersense’s energy production target by 2027 is 600–700 MW, of which 600 MW would be wind power and 100 MW solar power.

The options to be considered include creating a new, separate Enersense subsidiary for renewable energy development and production and engaging with external parties to identify possible partners that would support an acceleration of the growth strategy. Enersense has engaged BNP Paribas as financial advisor to assist with the evaluation. 

Enersense will carefully evaluate the various options and take the necessary time to consider the best possible solution. Enersense will give an update in due course, if any concrete outcome were to materialise.

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs

More information: 

Jussi Holopainen, CEO 
Tel. +358 44 517 4543 
Email: jussi.holopainen@enersense.com

Mikko Jaskari, CFO
Tel.: +358 40 053 5337​
Email: mikko.jaskari@enersense.com​

Media contacts: 
Tommi Manninen, SVP, Communications and Public Affairs 
Tel. +358 40 043 7515 
Email: tommi.manninen@enersense.com

DISTRIBUTION:
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_strategic_options_01062023

Enersense’s charging solutions included in a 4-year and approximately EUR 5-million framework agreement for public sector bodies

Enersense International Plc 
Press release 15 May 2023 at 2.30 p.m.

Enersense, a provider of zero-emission energy solutions, has been chosen together with Parking Energy as one of the three suppliers in Sarastia’s tendering for a framework agreement where the participating public sector bodies can procure charging solutions and related contracting and installation services directly from the suppliers that have been chosen in the tendering process. The total value of the framework agreement during the following four (4) years is approximately EUR 5 million.

”Being included in Sarastia’s framework agreement makes Enersense’s and its partner company Parking Energy’s DC and AC charging solutions, which are manufactured in Finland, as well as related installation and maintenance services available for Sarastia’s customer entities all over Finland, if they choose to participate in the framework agreement. Enersense offers EV charging solutions to charging point operators, companies and larger housing companies as turnkey solutions, when needed. This includes site assessments, planning, manufacturing, contracting, installation and commissioning of the charging infrastructure. We have just recently launched a new high-power charging station which enables an individual charger to increase the charging power from the previous 30 kilowatts to 160 kilowatts. With Enersense’s new smart and modular charging solution it is possible to charge two cars with a charging power of up to 400 kilowatts from one charger simultaneously”, says Topias Koskela, Head of Electric Vehicle Charging Solutions at Enersense.

Parking Energy is a Finnish high-growth company founded in 2014 that develops charging technology and produces electric vehicle charging services. Enersense owns 10% of Parking Energy.

Sarastia is the largest partner for financial and HR supporting services and modern municipal services for the public sector in Finland. Sarastia’s joint procurement agreements are available for Sarastia’s direct and in-direct shareholders who are e.g. municipalities, joint municipal authorities, entities owned by municipalities and other public sector organisations.

More information:   

Topias Koskela, Head of Electric Vehicle Charging Solutions
Tel. +358 50 401 7294
Email: topias.koskela@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs   
Tel. +358 40 043 7515   
Email: tommi.manninen@enersense.com  

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Sarastia_press-release_15052023

Enersense and Scanfil to cooperate on the assembly of high-power charging stations

Enersense International Plc
Press release 9May 2023 at 11:50 a.m.

Enersense Charging Oy, a manufacturer of high-power charging stations for electric mobility, and Scanfil Plc, a manufacturing partner for the electronics industry, have begun cooperation in the manufacturing of Enersense’s new high-power charging stations.

Enersense’s new high-power charging station enables an individual charger to increase the charging power from the previous 30 kilowatts to 160 kilowatts. Enersense will deliver the first high-power fast charging sites to Sweden during the spring.

“The cooperation with Scanfil has started very well. Scanfil has long and strong experience in the assembly of electronic equipment and I believe that the cooperation also offers us great growth opportunities. We are now able to rapidly increase our production volumes according to our customers’ needs,” says Topias Koskela, Head of Electric Vehicle Charging Solutions at Enersense.

The high-power charging stations are manufactured at Scanfil’s factory in Sievi, Finland, and delivered directly to the end customer for on-site installation.

“The cooperation with Enersense has been outstanding. In collaboration with the customer, we were able to bring a ready product to the market in under a month. Typically, in similar projects, it can take up to 4 months. Both companies have a startup mindset characterized by speed and solution-oriented thinking. As a large global player, we can support Enersense on its growth path now and in the future,” says Jussi Mökkönen, Scanfil’s Sievi factory Sales Manager.

More information:   

Topias Koskela, Head of Electric Vehicle Charging Solutions   
Tel. +358 50 401 7294
Email: topias.koskela@enersense.com

Media contacts:   

Tommi Manninen, SVP, Communications and Public Affairs   
Tel. +358 40 043 7515   
Email: tommi.manninen@enersense.com  

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Scanfil_ENG_09052023

Enersense International Plc’s Business Review January–March 2023: Revenue increased by 39% – full-year revenue expected to be over 300 MEUR

Enersense International Plc
Business Review Q1 2023, 8 May 2023 at 12:05 p.m.

The figures in brackets refer to the comparison period (the corresponding period of the previous year), unless otherwise stated. All figures and amounts have been rounded off from exact figures, which may result in minor inaccuracies in additions or subtractions.

JANUARY–MARCH 2023

  • Revenue was EUR 75.0 (53.8) million, 39.4% year-on-year.
  • EBITDA was EUR 0.1 (5.4) million. The EBITDA margin was 0.1 (10.1)%.
  • Adjusted EBITDA was EUR 0.4 (5.5) million, or 0.5 (10.2)% of revenue.
  • The operating profit was EUR -2.3 (3.2) million. The profit margin -3.1 (6.0)%.
  • Undiluted earnings per share were EUR -0.23 (0.11).
  • The order backlog stood at EUR 526 (288) million at the end of the review period.
  • On 17 January 2023, Enersense announced that it had signed an agreement of around EUR 35 million on the construction of an optical fibre network in Finland with Valoo, a Finnish optical fibre company.
  • On 27 February 2023, Enersense’s Board of Directors decided on the Group key employee incentive plan.
  • On 27 March 2023, Enersense announced that The Boards of Directors of Enersense International Plc and MBÅ Invest Oy have decided to complete the merger of MBÅ Invest with Enersense in accordance with the merger plan signed on 23 September 2022.

Updated guidance for the financial period 2023

In 2023, Enersense’s revenue is expected to be over EUR 300 million and adjusted EBITDA in the range of EUR 12–18 million.

Despite the general economic uncertainty, the market situation in Enersense’s business areas has continued to be good in the beginning of the year and the favourable development is expected to continue. The company’s strong order backlog gives a good basis for increasing revenue. 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.

Earlier guidance, issued on 27 February 2023:

In 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.

Key figures

1–3/2023 1–3/2022 1–12/2022
Revenue (EUR 1,000)                   74,998                   53,787                 268,037
EBITDA (EUR 1,000)                          58                     5,410                    12,210
EBITDA, %                         0.1                        10.1                         4.6
Adjusted EBITDA (EUR 1,000)                        392                     5,479                   13,654
Adjusted EBITDA, %                         0.5                       10.2                          5.1
Operating profit (EUR 1,000)                   -2,293                     3,227                     3,479
Operating profit, %                        -3.1                         6.0                          1.3
Result for the period (EUR 1,000)                    -3,778                     1,203                   -2,429
Equity ratio, %                       30.6                       42.3                       28.8
Gearing, %                       57.7                        22.1                       19.0
Return on equity, %                       -6.0                         2.5                        -4.3
Earnings per share, undiluted, EUR                      -0.23                       0.10                       -0.11
Earnings per share, diluted, EUR                      -0.23                       0.10                       -0.11

President and CEO Jussi Holopainen

“Despite the uncertainties related to the global economy, Enersense had a strong start for the year 2023. Our revenue increased by 39% year-on-year, increasing to EUR 75 (54) million. Our order backlog also continued to grow and is already EUR 526 (288) million. Our EBITDA is typically at its lowest in the first quarter, but the profitability of our core business operations has improved, considering seasonality.

Our adjusted EBITDA was EUR 0.4 million (5.5) in the first quarter. Our investments in the ramp-up of the offshore wind power business and a new ERP system, EUR 2.3 million in total, were the most significant factors burdening EBITDA in the review period. It is also good to keep in mind that the recognition of EUR 8.5 million arising from the Megatuuli acquisition improved EBITDA in the comparison period.

Profitable core business operations lay the foundation for future growth. We will continue our active measures to ensure the profitability of our core business operations while also strengthening our position in our strategic focus areas. During the review period, as part of the integration of acquired entities, the names for Unified Chargers and Megatuuli were changed and they now continue under the common Enersense brand as Enersense Charging and Enersense Wind.

Markets for our strategic focus areas are developing well and for example, activity in the offshore wind power market is increasing, and we are strongly involved in bidding processes. Our high-quality foundation concept is a highly effective and cost-effective solution, particularly for the areas of the Baltic Sea that freeze up in the winter. Our previous customer relationships and good references enable deliveries to major international renewable energy and offshore wind power companies.

The work we have completed is also reflected in our order backlog, which developed favourably during the first quarter. In the first quarter, the Power business area recorded an agreement with Gigawatti Oy on the construction of the infrastructure for 13 power plants in Oosinselkä, in addition to agreements with Fingrid on substation projects worth EUR 20 million, among other contracts. Our onshore wind power projects are also progressing. In our project portfolio, the project including 50 wind power plants in Yli-Olhava in Ii proceeded to the next phase in February, when the regional wind power plan for Yli-Olhava entered into force. The project is being developed in collaboration with Enersense’s French partner Valorem, and the project investment is estimated at EUR 400–500 million. Wind measurements have been carried out for more than two years, and the wind conditions in the area are excellent. When completed, the wind farm is estimated to generate more than 1 TWh of electricity, or around 1.5% of Finland’s total electricity demand. The investment decision in the project is estimated to be made in 2024–2025.

In early 2023, we also announced our first project related to the green hydrogen economy, when we signed an agreement on the delivery of steel structures for reactor modules for a methanation plant to Q Power, a provider of Power-to-X technologies. The agreement is related to the synthetic methane production plant delivered by Q Power to P2X Solutions in Harjavalta. The plant is being built in connection with P2X’s green hydrogen production plant. Through its 16.3% holding in P2X, Enersense is involved in reducing the emissions of heavy transport using hydrogen and synthetic fuels and in enabling energy storage opportunities created by green hydrogen.

In the Connectivity segment, the increase in the demand for fibre-to-the-home (FTTH) construction projects began in late 2022. The trend continued in January, when we signed a four-year agreement on the construction of an FTTH network for Valoo. The total value of the agreement is EUR 35 million. High-speed data connections play a significant role in enabling the constantly growing data transfer capacity required by the energy transition, and Enersense is strongly involved in investing in the reliability, security and sustainability of Finnish data transmission.

For a long time, we have also been involved in projects to synchronise the Baltic countries with the frequency of the European electricity grid. In January, we announced that we had signed an agreement to modernise the power line between the Mustvee and Paide substations in Estonia. The project plays an important role in the synchronisation of the Baltic electricity grids.

We have today updated our outlook for 2023 as regards to the revenue development. Guidance for the EBITDA remains unchanged. Despite the general economic uncertainty, our order backlog has grown to over half a billion euro and based on this we expect the full-year revenue to grow over EUR 300 million.”

This release is a summary of Enersense’s Business Review January–March 2023. The complete report is attached to this release as a pdf-file. It is also available on the company’s website at www.enersense.com/press-releases/reports-and-presentations/.

ENERSENSE INTERNATIONAL PLC

Tommi Manninen
SVP, Communications and Public Affairs

More information:  

Jussi Holopainen, CEO   
Tel. +358 44 517 4543   
Email: jussi.holopainen@enersense.com

Mikko Jaskari, CFO
Tel.: +358 40 053 5337​
Email: mikko.jaskari@enersense.com​

Media contacts:  
Tommi Manninen, SVP, Communications and Public Affairs   
Tel. +358 40 043 7515   
Email: tommi.manninen@enersense.com

Distribution:
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Release_Enersense_Business_Review_Q12023
enersense business review q1 2023

Enersense chosen as main contractor for Gigawatti Oy’s Oosinselkä wind farm infrastructure construction

Enersense International Plc
Investor news 17 April 2023 at 11:35 a.m.

Enersense International, a provider of zero-emission energy solutions, has agreed with Gigawatti Oy about construction of the Oosinselkä wind farm in Luvia at Eurajoki, Finland. The order has been booked into Enersense’s Power business area’s first quarter 2023 order book.

Gigawatti Oy’s Oosinselkä wind farm consists of 13 turbines. Enersense will begin the construction works in the summer of 2023. According to plans, the project will be completed by the end of 2024. Enersense will provide construction of the wind farm’s roads and platforms, foundations and internal network as a turnkey delivery.

“The Oosinselkä wind farm is a continuation to the cooperatives long-term investments to increase their own renewable energy. When completed, the wind farm will produce approximately a fifth of the S Group’s electricity demand.  Enersense’s long experience of wind farms’ infrastructure construction was decisive in the selection of the contractor,” says Mikko Halonen, CEO, S-Voima.

”This project in the growing wind power market is important for Enersense. We are very pleased that Gigawatti Oy chose us as their partner in this investment. This enables us to extend our good cooperation from wind power maintenance also to construction projects,” says Maija Isoaho, Head of wind power construction for Enersense’s Power business area.

Gigawatti Oy is fully owned by S-Voima Oy, who is responsible for the S Group’s electricity procurement. S-Voima Oy is owned by the cooperatives and SOK together.

More information:

Maija Isoaho, Head of wind power construction
Tel. +358 44 425 2457
Email: maija.isoaho@enersense.com

Media contact:
Tommi Manninen, SVP, Communications and Public Affairs
Tel. +358 40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Oosinselkä_ENG_17042023

Enersense chosen as main contractor for Fingrid’s project to expand substations in Huittinen-Forssa

Enersense International Plc
Investor news 14 April 2023 at 2:25 p.m.

Enersense International, a provider of zero-emission energy solutions, has won a project in Fingrid’s public procurement tendering regarding substation expansions in Huittinen-Forssa, Finland.

Expanding the substations enables a new transmission link which increases the transmission capacity for electricity and enables for its part the transmission of the excess wind power from the growing west coast production to Southern Finland. It also enables connections for renewable electricity production.

The project will employ Enersense for approximately three years and its preparations will begin immediately. The value of the project is approximately EUR 13 million and it has been booked into Power business area’s first quarter 2023 order book.

“The new Forssa-Huittinen 400 kV transmission link is an important project for both the Finnish grid and society. In the south, consumption of electricity is increasing. At the same time, production is decreasing and is being replaced with wind and nuclear power in the north, which increases the need for electricity transmission. The link will be built responsibly so that it replaces the current 110 kV power line in order to reduce the impact of land use. The connection will essentially increase reliability in maintenance and failure situations. Additionally, in connection with the expansion works, the protection and automation i.e. smart systems of the substations will be modernized. Cooperation with Enersense has always been straightforward and the quality of project execution has been excellent”, says Daniel Kuosa, Construction Manager, Fingrid.

This substation expansion project is important to Enersense.

“Energy transition is proceeding which means new transmission connections are needed. The substation expansions will enable this. Our goal is to enhance the energy transition for our part. At the same time the project strengthens our portfolio as an implementor of demanding Finnish national grid projects,” says Joni Parkkinen, Vice President, Transmission Networks business area at Enersense.

The decision shall enter into force after the end of the appeal period under the Act on Public Procurement and Concession Contracts.

More information:

Joni Parkkinen, Vice President, Transmission Networks, Power
Tel: +358 50 537 5837
Email: joni.parkkinen@enersense.com

Media contact:
Tommi Manninen, SVP, Communications and Public Affairs
Tel. +358 40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Fingrid_14042023

Enersense chosen as main contractor for Fingrid’s project where capacitors are added into substations

Enersense International Plc
Investor news 12 April 2023 at 11.45 a.m.

Enersense International, a provider of zero-emission energy solutions, has won a project in Fingrid’s public procurement tendering regarding adding capacitors into substations in order to improve transmission capacity.

The project will employ Enersense for approximately two years, and preparations for it will begin immediately. The value of the project is approximately EUR 6.6 million and it has been booked into Power business area’s first quarter 2023 order book.

The decision shall enter into force after the end of the appeal period under the Act on Public Procurement and Concession Contracts.

More information:
Joni Parkkinen, Vice President, Transmission Networks, Power
Tel: +358 50 537 5837
Email: joni.parkkinen@enersense.com

Media contact:
Tommi Manninen, SVP, Communications and Public Affairs
Tel. +358 40 043 7515
Email: tommi.manninen@enersense.com

Enersense in brief: 
Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group’s revenue in 2022 was EUR 268 million. The company has approximately 2,000 employees, with operations in Finland and internationally. Enersense’s shares are listed on Nasdaq Helsinki (ESENSE). The company’s investor pages can be found at www.enersense.com/investors. 

Enersense_Fingrid_ENG_12042023