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2021-07-22

Innofactor Plc's Half-Yearly Report for January 1–June 30, 2021 (IFRS)

Innofactor Plc Half-Yearly Report July 22, 2021, at 9:00 Finnish time

Innofactor achieved the best second quarter net sales and EBITDA in its history, as well as the highest order backlog ever

April–June 2021 in brief:

  • The net sales were approximately EUR 17.3 million (2020: 16.8), which shows an increase of 3.2%
    • Excluding the Prime business sold on March 31, 2021, the comparable growth was 7.6%, which was entirely organic growth
  • The operating margin was approximately EUR 2.1 million (2020: 2.1), which shows an increase of 1.6%
  • The operating profit was EUR 1.3 million (2020: 0.9), which shows an increase of 43.8%
  • The order backlog at the end of the review period was EUR 72.7 million (2020: 56.9), which shows an increase of 27.8%
  • Innofactor received several significant orders in the second quarter, for example,
    • Case and document management services for the joint municipal authority for the county of Ostrobothnia, approximately EUR 0.9 million
    • A case management solution for six universities, approximately EUR 0.9 million (not yet in the order backlog at the end of the review period)
    • Case management solution for the Finnish Forest Centre, approximately EUR 0.6 million

January–June 2021 in brief:

  • The net sales were approximately EUR 35.1 million (2020: 33.9), which shows an increase of 3.5%
    • Excluding the Prime business sold on March 31, 2021, the comparable growth as of April 1, 2021 was 5.6%, which was entirely organic growth
  • The operating margin was approximately EUR 6.8 million (2020: 4.0), which shows an increase of 68.0%
    • The operating margin includes a sales gain of approximately EUR 2.6 million from the sale of the Prime business, without which the operating margin would have been approximately EUR 4.2 million (2020: 4.0), which shows an increase of 4.4%
  • The operating profit was EUR 5.1 million (2020: 1.7), which shows an increase of 198.8%
    • The operating profit includes a corresponding sales gain as the operating margin, without which the operating profit would have been approximately EUR 2.5 million (2020: 1.7), which shows an increase of 48.5%

Key figures of the group, IFRS


Apr 1–Jun 30, 2021 Apr 1–Jun 30, 2020 Change   Jan 1–Jun 30, 2021 Jan 1–Jun 30, 2020 Change
Net sales, EUR thousand 17,296 16,755 3.2%   35,103 33,907 3.5%
Growth of net sales 3.2% 3.8%     3.5% 3.4%  
Operating result before depreciation and amortization (EBITDA), EUR thousand 2,096 2,063 1.6%   6,753 4,020 68.0%
percentage of net sales 12.1% 12.3%     19.2% 11.9%  
Operating profit/loss (EBIT), EUR thousand* 1,272 884 43.8%   5,081 1,700 198.8%
percentage of net sales* 7.4% 5.3%     14.5% 5.0%  
Earnings before taxes, EUR thousand* 1,287 1,196 7.6%   4,644 1,073 332.9%
percentage of net sales* 7.4% 7.1%     13.2% 3.2%  
Earnings, EUR thousand* 989 1,274 -22.4%   3,626 1,478 145.3%
percentage of net sales* 5.7% 7.6%     10.3% 4.4%  
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