Enersense International Oyj

Enersense International Plc announced on August 1, 2024, that its Board of Directors has elected Anders Dahlblom as the Chair of the Remuneration Committee. Dahlblom also serves as the Chair of the Board of Directors. The other members of the Remuneration Committee, Anna Miettinen, Sirpa-Helena Sormunen, and Ville Vuori, will continue in their roles. Jaakko Eskola, the former Chair of the Remuneration Committee, resigned from the Board on July 11, 2024. Enersense International Plc focuses on zero-emission energy solutions and had a revenue of EUR 363 million in 2023, with around 2,000 employees. Its shares are listed on Nasdaq Helsinki. For more information, contact Tommi Manninen, SVP of Communications and Public Affairs.

Enersense International Plc announced that Tommi Manninen, SVP of Communications and Public Affairs and a member of the Group Executive Team, has resigned from the company. Acting CEO Juha Silvola thanked Manninen for his contributions over the past three years, noting significant improvements in the company's visibility, stakeholder awareness, and sustainability efforts. Manninen will continue in his role until October 18, 2024, after which CFO Jyrki Paappa will take over responsibilities for communications and investor relations. Enersense remains focused on its core businesses and improving profitability. The company, which supports zero-emission energy solutions, had a revenue of EUR 363 million in 2023 and employs approximately 2,000 people. Enersense's shares are listed on Nasdaq Helsinki.

Enersense International Plc released its unaudited half-year financial report on August 1, 2024. The company announced the appointment of Kari Sundbäck as President and CEO effective November 25, 2024, with Juha Silvola continuing as acting CEO until then. Anders Dahlblom was elected as the new Chair of the Board, replacing Jaakko Eskola. For 2024, Enersense expects revenue between EUR 365-390 million and EBITDA between EUR 4-8 million, with adjusted EBITDA in core businesses forecasted at EUR 17-21 million. The company reported a 23.3% increase in revenue to EUR 199.0 million for the first half of 2024, but EBITDA turned negative at EUR -5.0 million due to losses in the offshore business and costs related to the EV charging business ramp-up. Enersense's order backlog was EUR 415 million at the end of the review period. The company is focusing on core businesses related to the green energy transition and is considering divesting non-core operations, including onshore wind, solar power project development, and offshore wind power business. A EUR 10-million credit facility was agreed upon to support the company's strategy. The company anticipates improved profitability in the latter half of the year and has revised its full-year guidance accordingly. The report highlights the positive growth outlook in the green energy transition sector and the company's commitment to improving profitability across all segments. Further details and the complete report are available on Enersense's website.

Enersense International Oyj announced that Kari Sundbäck will become the new President and CEO of the company starting November 25, 2024. Juha Silvola will continue as the acting CEO until then and will subsequently return to his role as EVP of Power and Connectivity. Additionally, Anders Dahlblom, a current board member, has been elected as the new Chair of the Board of Directors, succeeding Jaakko Eskola who has served since 2021. The board will maintain seven members until the next Annual General Meeting. Sundbäck has previous experience in senior roles at Caverion, Nokia, and KONE. The company revised its strategy in June to support the green energy transition and improve profitability. Enersense's largest shareholder, Virala, supports the new appointments, believing they will enhance shareholder value. Enersense, listed on Nasdaq Helsinki, focuses on zero-emission energy solutions and had a revenue of EUR 363 million in 2023 with around 2,000 employees.

Enersense International Plc announced that it has won a contract worth approximately EUR 26.5 million for constructing a 400 kV electricity transmission connection in Northern Ostrobothnia, Finland. The project, awarded through Fingrid's public procurement tender, will span about 117 kilometers from the Herva substation in Ii to Nuojuankangas in Vaala. Construction is set to begin in the winter of 2024 and is expected to be completed by the summer of 2027. This contract will be added to Enersense's Power business area order backlog for Q2 2024. The decision will be finalized after the appeal period under the Act on Public Procurement and Concession Contracts. Enersense, which focuses on zero-emission energy solutions, reported a revenue of EUR 363 million in 2023 and employs around 2,000 people. Its shares are listed on Nasdaq Helsinki.

Enersense International Plc issued a correction to its previously published insider information. The initial release, published at 2:25 p.m. on 19 June 2024, omitted the total amount of EUR 10 million for the RCF and contained an incorrect expiration date. The correct expiration date is 31 March 2025, not 31 May 2025. The corrected release is attached. Enersense International Plc is involved in creating zero-emission energy solutions and supports the energy transition. In 2023, the company had a revenue of EUR 363 million and employs approximately 2,000 people. Its shares are listed on Nasdaq Helsinki. More information can be found on their investor pages.

Enersense International Plc announced on 19 June 2024 that it will focus on strengthening its market position in Finland and the Baltics in the Power, Industry, and Connectivity sectors, which provide services to energy, telecommunications, and industrial companies involved in the green energy transition. In 2023, these operations generated over EUR 300 million in revenue and approximately EUR 20 million in EBITDA. The company is abandoning its previous goal of becoming a zero-emission energy producer and is assessing the potential sale of its onshore wind and solar power projects, which total around 5 gigawatts, with an additional 7 gigawatts in feasibility studies. Offshore wind power and zero-emission transport solutions are also under strategic review due to their need for significant growth capital. Enersense has launched an efficiency program to support profitability and is searching for a new CEO to implement its revised strategy. The Strategy Committee, established after the Annual General Meeting on 4 April 2024, has completed its task and will be discontinued. Enersense has secured a new senior unsecured revolving credit facility (RCF) to support its strategy, with the financing tied to Euribor plus a 3.5% margin, expiring on 31 May 2025. The Board of Directors will not exercise the right to distribute funds as a return of capital, as previously authorized at the AGM. Enersense International Plc is involved in zero-emission energy solutions and supports the energy transition. In 2023, the company had a revenue of EUR 363 million and approximately 2,000 employees, with operations in Finland and internationally. Its shares are listed on Nasdaq Helsinki.

Enersense International and Valoo Oy have signed a two-year agreement for the maintenance and further construction of Valoo's fibre-optic network in Southern Finland. The deal, which includes an option for a two-year extension, will be recorded in Enersense Connectivity's order books for Q2 2024. Over the past year, Valoo's network has expanded to over 30 towns. The partnership with Enersense will help Valoo maintain its network and build more fibre-optic connections. Enersense, a zero-emission energy solutions provider, reported a revenue of EUR 363 million in 2023 and has around 2,000 employees.