Empower Group's order backlog grew significantly in the third quarter of 2017

ons 25 okt 2017 08:30:00

Q3 2017 Highlights

Group Key Figures

EUR Million 7-9/17 7-9/16 1-9/17 1-9/16
Revenue 73 64,4 182 179
EBITDA 6,8 6,5 11,7 14,2
EBITDA-% 9,4% 10,1% 6,4% 7,9%

Revenue

The Group's revenue in the third quarter of 2017 was EUR 73 million (64.4), an increase of 13% compared to the previous year's comparison period. The cumulative revenue for January-September was EUR 182 million (179). The boom in the Finnish economy strengthened and was visible in all Empower business sectors. During the quarter, our revenue grew in the Industry, Power Networks and Information management sectors over the comparison period from previous year. In the Telecom Networks sector, the order backlog grew very strongly with the new multiannual service contracts but was not yet visible as a significant change in revenue in the third quarter.

EBITDA

The Group's EBITDA in the third quarter of 2017 was EUR 6.8 million, representing a 9.4% margin (EUR 6.5 million, 10.1%). Growth in revenue increased the EBITDA in the Industry and Information management sectors. In the Telecom Networks sector, the growth in EBITDA was affected by the digitization of processes. In the Power Networks sector, EBITDA was lower in the third quarter than in the corresponding period of the previous year due to the different phases of ongoing project deliveries.

Cumulative EBITDA for January-September was EUR 11.7 million, representing a 6.4% margin (EUR 14.2 million, 7.9%). Growth in revenue in the Industry sector increased EBITDA compared to the previous year's comparison period. In the Information management and Telecom Networks sectors, EBITDA was at the previous year's level. In the Power Networks sector, EBITDA was lower than last year, as large project deliveries completed in the first half of 2016 affect the EBITDA of the comparison period.

Future

Empower's quality goal is to provide the best customer experience in its field of industries. Empower's business sectors have a strong order backlog, and the outlook for the rest of the year and far to 2018 is positive. The new multiannual agreements in the telecommunications and information management sector concluded during the third quarter will have a major impact on the growth of business in 2018 and 2019 in these sectors.