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Profit warning: Profitability of the first half of financial year 2022 was significantly below H1 2021 level

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Relais Group Plc, Inside information 8 August 2022 at 7:30 a.m. EET

Relais Group Plc publishes preliminary unaudited financial information for the first half of the financial year 2022, as the profitability outcome was significantly below the level of the comparison period H1 2021.

APRIL-JUNE 2022 HEADLINE FIGURES

  • Net sales totaled EUR 58.6 million (January – June 2021: 52.2), +12.2% change
  • EBITDA was EUR 4.2 (5.4) million, 7.2% (10.3%) of net sales, -21.3% change
  • EBITA was EUR 3.7 (4.8) million, 6.4% (9.2%) of net sales, -22.6% change
  • EBIT was EUR -0.0 (1,5) million, -0.1% (2.8%) of net sales, -102.4% change
  • Comparable earnings per share excluding amortization of goodwill (undiluted) was EUR 0.07 (0.21)

JANUARY-JUNE 2022 HEADLINE FIGURES

  • Net sales totaled EUR 120.6 million (January – June 2021: 105.8), +14.0% change
  • EBITDA was EUR 10.8 (13.0) million, 9.0% (12.3%) of net sales, -16.8% change
  • EBITA was EUR 9.8 (12.2) million, 8.2% (11.5%) of net sales, -19.4% change
  • EBIT was EUR 2.5 (6.1) million, 2.1% (5.8%) of net sales, -58.8% change
  • Comparable earnings per share excluding amortization of goodwill (undiluted) was EUR 0.30 (0.48)

Net sales growth was driven by acquisitions, while organic growth was negative mainly due to generally weak market conditions, especially in early Q2. Profit margins were negatively affected by the group’s business mix and especially higher personnel and other operating expenses than before. Other negative drivers were Covid-19 related sick leaves, EUR/SEK exchange rates and the poor availability of mechanics in the commercial vehicle repair and maintenance business.

More details will be available when Relais publishes its half year report on 11 August 2022.

Relais Group Plc

Board of Directors

Further information:

Relais Group, CEO Arni Ekholm
Tel. +358 40 760 3323
Email: arni.ekholm@relais.fi


Certified advisor:
Evli Plc
Tel. +358 40 579 6210


Distribution: 
Nasdaq Helsinki
Financial Supervisory Authority
Key media
www.relais.fi


Relais Group

Relais Group is a leading consolidator and acquisition platform on the vehicle aftermarket in the Nordic and Baltic countries. We have a sector focus in vehicle life cycle enhancement and related services. We also serve as a growth platform for the companies we own.

We are a profitable company seeking strong growth. We carry out targeted acquisitions in line with our growth strategy and want to be an active player in the consolidation of the aftermarket in our area of operation. Our acquisitions are targeted at companies having a good strategic fit with our group companies.

Our net sales in 2021 was EUR 237.9 (2020: 128.9) million. During 2021, we completed a total of six acquisitions. We employ approximately 1,000 professionals in six different countries. The Relais Group share is listed on Nasdaq Helsinki Ltd's Nasdaq First North Growth Market Finland with the stock symbol RELAIS.

www.relais.fi

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