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RopoHold Oyj, Half-year financial report 1.1.-30.6.2018

In January-June 2018, the Group’s net sales grew by 28 % compared to January-June 2017. 

January-June 2018 in brief

Non-comparable growth in net sales was 28% and EBITDA increased by 85%. The completion, early in the year, of the lifecycle services deployment project begun in 2017 boosted the group’s customer service volume to a new level. The new telephone service centre established in Kuopio in February began operating as planned. Life cycle service deployments had a positive impact on the Group’s second-quarter net sales and operating profit.

  • Net sales amounted to EUR 22.3 million (17.5): growth of 28%.
  • EBITDA totalled EUR 5.3 million (2.8): growth of 85%.
  • Operating profit was EUR 3.1 million (1.0): growth of 227%.
  • Net profit came to EUR 1.1 million (-0.06): growth of 1,922%.
  • The equity ratio was 2 per cent (32%).

April-June 2018 in brief

The company’s second-quarter net sales increased by 14% and operating profit by 60% compared to the same period in 2017. Net sales and profitability improved due to the completion, early in the year, of invoice lifecycle service deployment projects for a few big customers. The number of deployment projects remained high in the second quarter. Due to the increase in the volume of life cycle services, new employees were recruited by the Group’s technology department and service organisation, and the administrative team was strengthened. The Group had a total of 165 employees on 30 June 2018, compared to 149 on 31 March 2018.

  • Net sales amounted to EUR 11.3 million (9.9): growth of 14%.
  • EBITDA totalled EUR 2.9 million (2.2): growth of 31%.
  • Operating profit was EUR 1.8 million (1.1): growth of 60%.
  • Net profit came to EUR 0.8 million (0.7): growth of 18%.

Artti Aurasmaa, CEO:

In January-June 2018, the Group’s net sales grew by 28 % compared to January-June 2017. Net sales for the beginning of the year totalled EUR 22.3 million (EUR 17.5 million 1-6/2017), with operating profit developing positively at EUR 3.1 million 1-6/2018 (EUR 1.0 million 1-6/2017).

During the first half of the year, the RopoHold Group’s business operations developed in line with the planned strategy. The combination of the Group’s range of services – information logistics, receivables management, and payment control and debt collection services – into an invoice lifecycle service has created significant demand among customers. In line with its objectives, the Group succeeded in shifting its operational customer accounts to the invoice lifecycle model and concluding new agreements on the introduction of lifecycle services. The completion of invoice lifecycle service deployment projects early in the year is expected to have a positive impact on the consolidated profit for the end of the year. Financial services for invoice receivables are complemented by the Group’s invoicing services. The Group’s financed receivables increased to approximately EUR 7 million (31 December 2017, €5.7million), while credit losses remained moderate.

As regards net sales, the Group’s income from payment control continued to grow. The price competition intensified for information logistics services, but this had no significant impact on the group’s operational net sales during the first half. With respect to financial income, the increase in loan receivables is also reflected in growth in net sales.

For further information, please contact:

Toni Rönkkö, CFO, Ropo Capital
044 569 8168, toni.ronkko@ropocapital.fi

Artti Aurasmaa, CEO, Ropo Capital
artti.aurasmaa@ropocapital.fi

About Ropo Capital
Ropo Capital is a leading Finnish provider of invoice lifecycle management services covering the whole value chain of receivables management. We compete in the markets as a technological forerunner – our operating model is based on the advantages of digitalisation and advanced automation. The Company employs approximately 160 people and more than 8,000 Finnish companies actively use our services. We deliver one in six invoices in Finland. Our goal is to be the market leader in Finland by 2020.

RopoHold Oyj is the parent company of the Ropo Capital Group.

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