Enersense International Oyj's Q3 2024 Results: A Turnaround Marked by Strategic Focus and Improved Profitability
Enersense International Oyj has released its Q3 2024 business review, showcasing significant improvements in revenue and profitability, driven by strategic initiatives and new contracts.
Sammanfattning
Enersense International Oyj's Q3 2024 results show an 18% increase in revenue and a return to positive EBITDA, highlighting the company's strategic focus and operational improvements.
Enersense International Oyj, a leading provider of zero-emission energy solutions, has reported its Q3 2024 financial results, indicating a strong recovery and positive momentum in its business operations. The company's revenue for July-September 2024 increased by 18% compared to the same period last year, reaching EUR 111.5 million. This growth was largely driven by the Industry and Connectivity segments, with significant contributions from the construction of optical fibre networks.
| Key Performance Indicators | Q3 2024 | Q3 2023 |
|---|---|---|
| Revenue (EUR million) | 111.5 | 94.5 |
| Operating Income (EUR million) | 8.6 | 3.9 |
| Net Income (EUR million) | 0 | -0.4 |
| Earnings per Share (EUR) | 0.00 | -0.01 |
| Debt Ratio | 0.45 | 0.50 |
| Interest Coverage Ratio | 3.2 | 1.5 |
The company has made notable progress in its efficiency program, resulting in an improved EBITDA of EUR 8.6 million for Q3 2024, up from EUR 3.9 million in Q3 2023. This positive shift in profitability was observed across all business segments.
Despite a decrease in the order backlog to EUR 353 million from EUR 511 million in the previous year, Enersense has secured several significant contracts, including a development project with Boliden and maintenance agreements with Telia Towers Finland Oy and Fingrid.
Enersense's strategic assessment, focused on enhancing core business operations and divesting non-core activities, is progressing as planned. The company's commitment to the green energy transition is further evidenced by its recent European patent for an innovative offshore wind power plant base solution.
| KPI Changes | Q3 2024 vs Q3 2023 |
|---|---|
| Revenue Growth | +18% |
| EBITDA Growth | +120% |
| Order Backlog Change | -31% |
In conclusion, Enersense's Q3 2024 results reflect a successful turnaround, driven by strategic initiatives and operational improvements. The company's focus on core business areas, coupled with strategic divestments, positions it well for future growth and increased shareholder value.
Källa
Sammanfattning
Enersense International Plc released its unaudited Q3 2024 business review, highlighting an 18% increase in revenue for July–September compared to the previous year, amounting to EUR 111.5 million. This growth was driven by increased business volumes in the Industry segment and favorable developments in the Connectivity segment. The Group's EBITDA turned positive, reaching EUR 8.6 million, after a loss-making second quarter, with profitability improvements across all segments. The order backlog at the end of the period was EUR 353 million, impacted by the completion of long-term projects and cautious telecom investment. Significant contracts were secured, including projects with Boliden and Fingrid. A strategic assessment focusing on core businesses related to the green energy transition is progressing as planned. New CEO Kari Sundbäck emphasized the company's commitment to sustainability and improving profitability. Enersense aims to enhance shareholder value by refining its strategy and operations. The full report is available on the company's website. Enersense supports zero-emission energy solutions and had a revenue of EUR 363 million in 2023, with around 2,000 employees. The company's shares are listed on Nasdaq Helsinki.