Enersense lowers its guidance for 2022 and provides preliminary information on the financial development of the second quarter of 2022

Enersense International Plc
Insider information 27 July 2022 at 6:10 p.m.

Enersense International Plc lowers its financial guidance for 2022 in terms of adjusted EBITDA. At the same time, Enersense provides preliminary information on its second quarter results, which, as expected, is the weakest quarter of the year.

The company's profitability, towards the end of the year, is weighed down by Russia's war of invasion of Ukraine, accelerated inflation, material availability problems, the coronavirus, the ICT strike, and the resulting delayed project starts.

New financial guidance for 2022:

According to the company's financial guidance, revenue is expected to be in the range of EUR 245–265 million and adjusted EBITDA EUR 6-12 million in 2022.

Previous financial guidance for 2022:

According to the company's financial guidance, revenue is expected to be in the range of EUR 245–265 million and adjusted EBITDA EUR 15–20 million in 2022.

Preliminary key figures (unaudited):

April-June 2022:

Revenue: EUR 59.8 million (EUR 61.6 million in the comparison period)

Adjusted EBITDA: EUR -0.4 million (4.8)

January-June 2022:

Revenue: EUR 113.6 million (114.9)

Adjusted EBITDA: EUR 5.0 million (7.4)

As expected, investments in offshore wind power and a new ERP system have weakened the adjusted EBITDA for the first half of the year. The impact of these on the operative EBITDA for the first half of the year is EUR 2.4 million.

Enersense will publish its half-year financial report on Thursday 4 August 2022. Due to the silent period, Enersense does not comment on preliminary information on its result before publishing its half-year report.

Enersense keeps its long-term financial targets for 2027 (stock exchange release 3 May 2022) unchanged.