Talenom Oyj

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.

Allianz SE has reduced its stake in Talenom Plc to below 5% of the total shares, following transactions made on 9 April 2024. The announcement was made by Talenom Plc on 10 April 2024. Talenom is an accounting firm established in 1972, offering digital tools and services to entrepreneurs. The company's net sales in 2023 were approximately EUR 122 million, and it had 1,560 employees across Finland, Sweden, Spain, and Italy. The company's shares are listed on the Nasdaq Helsinki Main Market.

Talenom Plc will release its Business Review for Q1 2024 on 18 April 2024 at 9:00 EEST. The company's CEO Otto-Pekka Huhtala and CFO Matti Eilonen will present the main points of the review in a live webcast at 10:00 EEST in Finnish and 12:00 EEST in English. The webcast can be viewed live on Talenom's website and the presentation materials will be published on the company’s website before the briefing begins. The company also invites interested parties to follow the briefing at their premises in Helsinki, with registration required by 16 April 2024. Talenom is an accounting firm established in 1972, offering a wide range of services to SMEs.