Dovre Group Oyj
Ticker/ISIN
DOV1V
FI0009008098
Marknad/Land
Main Market, Helsinki
Sweden
Om Dovre Group Oyj
Dovre Group is a global provider of project management services. Dovre Group has two business areas: Project Personnel and Consulting. The Group’s Project Personnel business area operates worldwide and has over 30 years of experience as a global provider of energy industry professionals, especially for the oil and gas industry. The Group’s Consulting business area, operating in the Nordic countries, provides management and project management expertise for the development and execution of major investment projects.
Senaste sammanfattade pressmeddelande från Dovre Group Oyj
Dovre Group Plc has acquired the remaining 42.8% shares of Renetec Oy, making it the sole owner of the company. The purchase price is undisclosed. Renetec specializes in developing solar park projects and plans to expand into Battery Energy Storage System (BESS) projects. These projects are strategically located near electrical grid connection points and are nearing construction readiness. Sanna Outa-Ollila, Acting CEO of Dovre Group, expressed enthusiasm about integrating Renetec's expertise into the group. Dovre Group focuses on renewable energy project development in the Nordic countries and employs about 200 people.
Dovre Group Plc announced that its subsidiary, Suvic Oy, has signed a conditional EPC contract for a 100 MWp solar park in Finland. The contract, valued at approximately €55 million, is contingent upon receiving a "Notice to Proceed" expected in late February 2025. The project involves a turnkey construction of the solar park and substation, with construction slated to start in March 2025 and completion anticipated by autumn 2026. Suvic, known for its expertise in industrial-scale solar projects, has previously built a 32 MW solar plant in Rauma and is working on another in Lapua. Dovre Group operates in renewable energy and project management across the Nordic countries and expects sales of 88–93 million euros in 2024, employing around 200 people.
Dovre Group Plc announced that Stein Berntsen, President of Business Area Consulting, has resigned from the Executive Team following the sale of Dovre's Project Personnel and Consulting Norway businesses to NYAB AB. Berntsen will join NYAB AB in a new role. Svein Stavelin, Chairman of Dovre Group, expressed gratitude for Berntsen's contributions. The Dovre Group's executive team now includes Acting CEO Sanna Outa-Ollila and CFO Hans Sten. Dovre Group focuses on renewable energy projects and related services in the Nordic countries, with estimated sales of 88–93 million euros for 2024 and approximately 200 employees.
Dovre Group Plc has finalized the sale of its Project Personnel and Norwegian Consulting businesses to NYAB AB, following a conditional agreement announced on November 20, 2024. The transaction was approved by Dovre Group’s Extraordinary General Meeting on December 16, 2024. The preliminary purchase price was around 35.3 million euros, based on the estimated EBIT for 2024. Dovre Group received approximately 28.2 million euros in cash, with 7.1 million euros held in escrow. The final purchase price, expected to be similar to the preliminary amount, will be determined in the first half of 2025. The sale is treated as a discontinued operation under IFRS 5, and it does not affect Dovre Group’s 2024 guidance for its remaining business. Dovre Group focuses on renewable energy projects and related services in the Nordic countries, with estimated 2024 sales of 88–93 million euros and about 200 employees.
Dovre Group Plc has issued a negative profit warning, lowering its 2024 guidance for operating profit. Following the sale of its Project Personnel and Norwegian Consulting businesses to NYAB AB, the company expects net sales for its retained businesses to be between 88-93 million euros, with an operating profit (EBIT) projected to be between -13 and -15 million euros. The lowered guidance is attributed to reduced profitability in certain Renewable Energy projects by its subgroup Suvic, due to delays and increased costs caused by winter conditions. The forecast includes potential losses until these projects are completed, with some uncertainty extending into 2025. Dovre Group owns 51% of Suvic. In 2023, Dovre Group's net sales were 196.7 million euros with an operating result of 7.4 million euros. Dovre Group is based in Finland and listed on Nasdaq Helsinki.
Dovre Group has announced the appointment of Sanna Outa-Ollila as Acting CEO starting December 17, 2024, following the company's decision to sell its Project Personnel and Norwegian Consulting businesses to NYAB AB. The former CEO, Arve Jensen, will transition to NYAB after the sale, expected to close around January 2, 2025. Outa-Ollila is also a member of Dovre's Board of Directors. Dovre Group is an international provider of project management services with operations in several countries and reported net sales of EUR 196.7 million in 2023. The company is based in Finland and listed on Nasdaq Helsinki.
Dovre Group Plc held an Extraordinary General Meeting on December 16, 2024, where it was decided to approve the sale of Dovre's Project Personnel and Norwegian consulting businesses to Swedish NYAB AB for an estimated EUR 34 million. This transaction, expected to close around January 2, 2025, involves Dovre receiving 80% of the purchase price in cash and 20% in an escrow account. The final purchase price will be adjusted based on 2024 financial results. Consequently, Dovre will amend its Articles of Association to reflect its change in business operations. The meeting minutes will be available on the company's website. Dovre Group, headquartered in Finland and listed on Nasdaq Helsinki, provides project management services globally and is active in sustainable practices.
Suvic AB, a subsidiary of Suvic Oy, has signed Balance of Plant (BoP) contracts for the construction of the Vinliden North and South wind farms in Lycksele, northern Sweden. The project involves 11 wind turbines and will be carried out by Suvic AB. The contracts are with Vinliden Vindkraft AB, a joint venture of funds managed by Prime Capital AG and Polhem Infra AB. The project includes design work and construction of infrastructure such as roads and cabling. Suvic has already completed some preliminary work and construction will resume in May after the winter. The wind farms are expected to be completed by October 2025. Suvic, founded in 2017 in Oulu, focuses on renewable energy construction in the Nordic countries. Prime Capital AG, an asset management firm specializing in Alternative Investments, manages part of the joint venture and has a history of collaboration with Suvic.
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Main Market, Helsinki News
Nyhetsuppdatering från Dovre Group Oyj
Insiderinformation: Stock Exchange Release Dovre Guidance For Year 2024
Dovre Group Plc has released its financial outlook for 2024, predicting revenues between 185 - 210 MEUR and an Operating Profit (EBIT) of 2 - 4 MEUR. This lower EBIT compared to 2023 is due to a one-time write-down of approximately 6 million euros from a renewable project in Q1. Despite the project exceeding its cost budget, it was technically successful and corrective actions have been taken. Dovre expects the rest of 2024 to surpass 2023 in both revenue and EBIT. However, a decline in revenue and EBIT is expected in the Project personnel and Consulting business areas due to the completion of a major project in Canada and slower activity in the Norwegian public sector.
Main Market, Helsinki News
Nyhetsuppdatering från Dovre Group Oyj
Kommuniké från årsstämma: DECISIONS OF THE ANNUAL GENERAL MEETING OF DOVRE GROUP PLC
Dovre Group Plc held its Annual General Meeting on April 4, 2024, during which it approved the financial statements for 2023 and discharged the Board of Directors and CEO from liability for the same year. The meeting also decided on the board composition, remuneration, and the election of the auditor. The board was authorized to decide on the repurchase of the company's own shares, issuance of shares, and issuance of other special rights entitling to shares. A dividend of EUR 0.01 per share will be paid on April 15, 2024, with an extra dividend of the same amount to be paid on October 31, 2024. The board members were re-elected, and their annual compensation was set. BDO Oy was elected as the company's auditor. The repurchase and issuance authorizations are valid until June 30, 2025.
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