Fodelia Group: Financial Statements Bulletin 2023

Pyhäntä / FI. (foy) Fodelia Oyj Group announced its unaudited financial results for the period 01 January to 31 December (FY-2023). Unless otherwise stated, figures in parentheses refer to FY-2022 in the same unit.

Summary for January-December 2023

  • Group net sales grew by 17.6 percent and amounted to EUR 48,965 thousand (EUR 41,621 thousand)
  • Group Ebitda was EUR 4,575 thousand and 9.3 percent of net sales (adjusted 2022: EUR 2,480 thousand and 6.0 percent of net sales)
  • Group EbitA was EUR 2,965 thousand (adjusted 2022: EUR 1,079 thousand) and 6.1 percent of net sales (adjusted 2022: 2.6 percent of net sales)
  • Group Ebit was EUR 2,521 thousand and 5.1 percent of net sales (adjusted 2022: EUR 718 thousand and 1.7 percent of net sales)

Summary for July-December 2023

  • Group net sales grew by 11.3 percent and amounted to EUR 24,706 thousand (EUR 22,190 thousand)
  • Group Ebitda was EUR 2,627 thousand and 10.6 percent of net sales (adjusted 2022: EUR 1,204 thousand and 5.4 percent of net sales)
  • Group EbitA was EUR 1,750 thousand (adjusted 2022: EUR 464 thousand) and 7.1 percent of net sales (adjusted 2022: 2.1 percent of net sales)
  • Group Ebit was EUR 1,529 thousand or 6.2 percent of net sales (adjusted 2022: EUR 263 thousand and 1.2 percent of net sales)

Summary for October-December 2023

  • Group net sales grew by 10.6 percent and amounted to EUR 12,457 thousand (EUR 11,266 thousand)
  • Group Ebitda was EUR 1,126 thousand 9.0 percent of net sales (adjusted 2022: EUR 611 thousand and 5.4 percent of net sales)
  • Group EbitA was EUR 650 thousand (adjusted 2022: EUR 224 thousand) and 5.2 percent of net sales (adjusted 2022: 2.0 percent of net sales)
  • The Group’s profit for the period was EUR 539 thousand and 4.3 percent of net sales (adjusted 2022: EUR 113 thousand and 1.0 percent of net sales)
  • The Board of Directors proposes a dividend of EUR 0.08 per share.

Outlook for 2024

The company’s management estimates the Group’s net sales for 2024 to be approximately EUR 54-58 million. Operating profit margin is estimated to increase from the previous year.

Chief Executivces Summary

CEO Mikko Tahkola: «We entered 2023 in a challenging situation. The uncertainty caused by the war in Ukraine and the very strong inflationary trend had lowered the Group’s profitability, which is why our most important goal for 2023 was to return the Group to a track of profitable growth. We succeeded very well in this. The Group’s comparable Ebit increased by 251 percent in January-December and by 377 percent in October-December. The Group’s operating profit in January-December was 5.1 percent of net sales and in October-December 4.3 percent of net sales. The operating profit for the last quarter was slightly lower than in the third quarter, which was influenced by the higher level of fixed costs late in the year compared to the summer and the adjustment costs incurred.» For additional info please read the PDF file below (220 KB):

20240210-FODELIA-FY2023.

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