Empower Group records strong performance in the second quarter of 2017
Q2 2017 Highlights
- Empower’s withdrawal from its Swedish subsidiaries was completed and the Group gained 12,8 EUR million one off profit in April.
- We committed to a Responsible Summer Job campaign and offered summer jobs for close to 100 students.
- Our Information Management sector entered into new additional business on the existing EnerimCIS platform with Elenia.
- Power Network sector was awarded a wind park project in Sweden and notable distribution grid contracts in Estonia.
- Our Telecom Network sector won several fiber optic construction projects in Finland and strengthened its order backlog.
Group Key Figures
|Revenue ||59,1 ||64,3 ||109 ||115 |
|EBITDA ||3,4 ||5 ||4,8 ||7,6 |
|EBITDA-% ||5,8% ||7,7% ||4,4% ||6,6% |
Empower Group’s revenue in the second quarter of 2017was 59,1 EUR million (64,3). January-June cumulative revenue was 109 EUR million (115). Recovery of the Finnish economy was reflected in the strengthening demand and order backlog in Empower’s all business sectors. Empower’s Industry and Information Management sectors recorded a strong revenue growth already in Q2. Power and Telecom Network sectors recorded a significant increase in order backlog during the second quarter.
Empower Group´s EBITDA in the second quarter of 2017 was 3,4 EUR million corresponding to 5,8% margin (5 EUR million, 7,7%). Cumulative EBITDA January-June was 4,8 EUR million and reflected 4,4% margin (7,6 EUR million, 6,6%). Power network sector had some large projects in the beginning of 2016, which contributed notably on the comparison period EBITDA. Moreover the frosty conditions and licensing processes delayed some construction projects and outdoor installations and affected to Power and Telecom Network sectors in spring in 2017. Industry and Information Management sectors reported a strong result throughout the second quarter.
Due the strong order backlog in all Empower’s business sectors and favorable market development expectations Empower’s outlooks for fall of 2017 and towards year 2018 are positive. The market growth trend in the Finnish economy is expected to further contribute to Empower's business.