Talenom Oyj

Talenom Plc announced the sale of its Finnish debt collection business to Svea Bank AB, effective December 1, 2024. This decision aligns with Talenom's updated strategy to concentrate on core competencies by outsourcing non-accounting services. The divested business has an annual net sales of approximately EUR 0.5 million. Talenom's CEO, Otto-Pekka Huhtala, stated that the sale allows Talenom to focus on its strengths while providing customers access to enhanced debt collection services through Svea. Svea's Country Manager, Pasi Väre, noted that the transaction was straightforward due to the existing partnership between the companies. Talenom is confident that customers will continue to receive professional services from Svea, a leader in the debt collection industry. Talenom, an accounting firm established in 1972, is known for its digital tools and automated services, with a history of strong growth and revenue of EUR 122 million in 2023. The company is listed on Nasdaq Helsinki.

Sampsa Laine, a member of Talenom Plc's Board of Directors since 2020, will resign from his position on November 30, 2024, due to his new role as CEO of Alisa Bank Plc starting December 1, 2024. Talenom and Alisa Bank have been collaborating since 2022, providing banking and financial services to companies utilizing Talenom's financial management services. Harri Tahkola, Chairman of Talenom's Board, expressed gratitude for Laine's contributions and hopes for continued cooperation with Alisa Bank. After Laine's resignation, Talenom's Board will have six members. Talenom is an accounting firm founded in 1972, known for its digital tools and automated services, with a strong growth history and operations in Finland, Sweden, Spain, and Italy. Its shares are listed on Nasdaq Helsinki.

Talenom Plc released its business review for January-September 2024, highlighting an updated strategy amid a challenging economic environment that affected growth but improved profitability. The company projected 2024 net sales of EUR 126-129 million, EBITDA of EUR 34-37 million, and operating profit of EUR 11-14 million. CEO Otto-Pekka Huhtala noted the focus on improving profitability and advancing a software project in Sweden, where 40% of customers have migrated to Talenom's platform. The company reported a 5.4% increase in net sales to EUR 97.0 million, with significant profitability improvements. Talenom aims to continue growth in Spain and improve profitability in Sweden. The updated strategy includes potential job reductions and aims for annual savings of EUR 2-3 million. The company plans to enhance its software and accounting services under the ONE Talenom concept, emphasizing its role as a financial partner for SMEs. A webcast presentation of the review and strategy update is scheduled for 31 October 2024. Talenom, founded in 1972, is an accounting firm with a history of strong growth and operations in Finland, Sweden, Spain, and Italy. Its shares are listed on Nasdaq Helsinki.

Talenom Plc will release its Business Review for January-September 2024 on October 31, 2024, at around 9:00 EET. CEO Otto-Pekka Huhtala, CFO Matti Eilonen, and Sweden Country Manager Christian Dieroff will present the review and updated strategy in a live webcast on the same day at 10:00 EET in Finnish and 12:30 EET in English. Recordings will be available on Talenom's website. Registration for the event is required by October 28, 2024. Talenom, an accounting firm established in 1972, aims to support entrepreneurs with digital tools and services. The company has shown strong growth, with net sales of approximately EUR 122 million in 2023 and 1,560 employees across Finland, Sweden, Spain, and Italy. Talenom's shares are listed on Nasdaq Helsinki.

Talenom Plc announced plans to separate its software business into a new company as part of a strategy update aimed at accelerating scalable growth. The company believes its competitive advantage lies in simplifying entrepreneurs' lives, automating accounting routines, and its operating model focused on customer care. The updated strategy involves selling the software as a separate product, which has shown potential for scalable growth, and allowing the service business to use commercial software for larger clients. Talenom's software business in Finland is estimated to generate EUR 15-20 million in net sales, with expansion underway in Sweden and Spain. Change negotiations will be initiated, affecting around 180 employees in Finland, potentially leading to up to 35 job terminations, with expected savings of EUR 2-3 million annually. Further details will be shared in the Q3 earnings release on 31 October 2024. Talenom, established in 1972, is an accounting firm focused on providing digital tools and automated services, with a strong growth history and presence in Finland, Sweden, Spain, and Italy.

Talenom Plc has issued a profit warning, lowering its net sales and operating profit guidance for 2024 due to a prolonged economic downturn, particularly in Finland, and fewer acquisitions than planned. This downturn has negatively impacted the company's net sales and profitability. Talenom has adopted a new strategy to enhance growth and is reorganizing its activities accordingly. The revised guidance for 2024 estimates net sales of EUR 126–129 million, EBITDA of EUR 34–37 million, and operating profit of EUR 11–14 million, accounting for non-recurring costs related to the strategy update and reorganization. Previously, the company had projected net sales of EUR 130–140 million, EBITDA of EUR 34–40 million, and operating profit of EUR 14–17 million. Talenom is an accounting firm established in 1972, known for its digital tools and automated services, with a strong growth history and operations in Finland, Sweden, Spain, and Italy.

Talenom Plc released its Half-Year Financial Report for 2024, showing a 14.6% increase in EBITDA and progress in strategic implementation. Key objectives included improving operational efficiency, launching a platform in Sweden, and accelerating organic growth. Net sales grew by 6.7% to EUR 68.0 million, although the economic downturn negatively impacted customer business volumes in Finland and Sweden. Despite this, new customer acquisition helped offset these effects, and profitability improved significantly. Operating profit rose by 17.3% to EUR 8.4 million. In Sweden, profitability was affected by the introduction of Talenom's own software. The Spanish business showed strong growth, contributing over 10% to the Group’s net sales with significant profitability improvements. The company remains optimistic about future growth and profitability, emphasizing its strengths in automation and customer orientation. The guidance for 2024 remains unchanged, estimating net sales of EUR 130–140 million, EBITDA of EUR 34–40 million, and operating profit of EUR 14–17 million. CEO Otto-Pekka Huhtala and CFO Matti Eilonen will present the report in a live webcast. Talenom continues to focus on providing superior accounting and financial services for SMEs.

Talenom Plc will release its Half-year Financial Report for January-June 2024 on Friday, 19 July 2024, at around 9:00 EEST. CEO Otto-Pekka Huhtala and CFO Matti Eilonen will present the main points in a live webcast on the same day at 10:00 EEST in Finnish and at 12:00 EEST in English. Recordings and presentation materials will be available on Talenom's website. Talenom is an accounting firm established in 1972, offering digital tools and automated services to SMEs. The company reported net sales of approximately EUR 122 million in 2023 and employs 1,560 people across Finland, Sweden, Spain, and Italy. Talenom's shares are listed on the Nasdaq Helsinki.