Skip to main content

Enedo Plc reduces the estimate of the financial development for 2020

Written by Customer Service on . Posted in Public Companies.

Enedo Plc    Stock Exchange Release   October 15, 2020 9:55 am   
Based on the latest outlook for the sales development especially in US market for the rest of the year 2020, Enedo Plc reduces the full year 2020 net sales and profit estimates.Enedo has continued taking active measures to develop supply capability, improve cost efficiency and profitability, and achieve new customer and sales synergies. The implementation of the strategy launched in February and the reversal of the company’s direction, as well as the building of a healthy future, have continued after the challenging first half of the year. We have also been able to deliver most of the delayed orders from the Tunisian plant.In the half year financial report on August 13, 2020, the company reported on the uncertainty in the development of the US market and its possible impact on the company’s second-half net sales growth. Due to the limitations and market uncertainty caused by the coronavirus, the collaborative projects and campaigns planned with customers in the United States have continued to move forward during the second half of the year. At present, we do not believe that this development will end during the rest of 2020. This will have an impact especially on the sales of the company’s Italy products in the second half of the year. For this reason, the company is updating its estimate of financial development. Demand for Finland products has remained stable.Old estimateThe company estimates net sales from continuing operations to be EUR 40-44 million in 2020. Full year 2020 EBITDA (adjusted for items affecting comparability) is estimated to be EUR 0,0-1,5 million and operating profit (adjusted for items affecting comparability) negative EUR 2,1-3,6 million. At the moment, the company will not give guidance of financial development for 2021 due to increased uncertainties.New estimateThe company estimates that the net sales of continuing operations in 2020 will be EUR 37-41 million. EBITDA for 2020 (adjusted for items affecting comparability) is estimated at EUR -0,7 – +0,7 million and operating profit (adjusted for items affecting comparability) negative EUR 3,1 – 4,3 million.Enedo
Enedo is a European designer and producer of high-quality electronic power supplies and systems for critical equipment even in the most demanding environments. Enedo´s mission is to make electricity better – more reliable, more secure, more energy efficient – and just right to fit its purpose. Enedo´s three main product categories are Led Drivers, Power supplies and Power Systems. In 2019 the group´s revenue was EUR 43,3 million. Enedo has 394 employees and its main functions are located in Finland, Italy, Tunisia and USA. The group´s head office is in Finland and parent company Enedo Oyj is listed on Nasdaq Helsinki Oy.www.enedopower.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.