Loihde
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Loihde’s 2024 started of quite well and beat our expectations. We continue to expect lower single-digit growth and a clear improvement in profitability in 2024.
Loihde’s Q1 was a pleasant surprise, as we had expected a softer start to the year. The adj. EBITDA improved clearly y/y and beat our estimate, at EUR 1.6m (Evli 0.5m). Net sales also grew nicely by 6% to EUR 33.0m (Evli EUR 31.8m).
Loihde’s Q4 came with no larger P&L surprises. Expectations for 2024 are slightly more conservative than we previously estimated but margin improvement potential remains on the weaker comparison figures.
Loihde’s Q4 results were in line with our estimates on topline figures, with growth of 3% while the adj. EBITDA came in below our estimates at 3.8m (Evli EUR 4.4.). Group revenue is expected to be flat or grow in 2024 and adj. EBITDA to improve.
Loihde is under its updated strategy seeking to grow 10% annually and achieve an adj. EBITDA of 15% by 2027 for which Loihde, despite a confidence boosting CMD, still has quite a lot to show for.
Loihde’s Q3 saw profitability improve while lacking growth. With the reiterated guidance, Loihde will be looking for a solid Q4 in terms of profitability. We retain our HOLD-rating with a target price of EUR 13.0 (13.5).
Loihde’s Q3 saw adj. EBITDA improving 30% y/y, but was below our estimates, at EUR 2.9m (Evli 4.0m). Growth was flat y/y, with net sales at EUR 29.9m (Evli EUR 32.3m). Profitability development is expected to continue favourably also during the end of the year.
Loihde reported two-folded Q2 figures. Net sales came in strong with 15% growth, despite soft digital development sales. Profitability was weak, which leaves a lot to catch up in H2.
Loihde released Q2 result with strong topline growth. Net sales grew in line with our expectations, with strong SeSo sales, while DiDe was negatively impacted by the soft market. Profitability fell short of our expectations and was weak with market issues. Year-end seems brighter, but uncertainty remains high, especially in DiDe.
Loihde reports its Q2 result on Thursday. While SeSo is expected to drive strong Q2 growth, the current market environment has continued weak and uncertain in DiDe. In addition to the soft utilization rates of DiDe, we expect SeSo’s ERP project to bring additional costs that together limit Q2 and 23E profitability.
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Loihde Plc: SHARE REPURCHASE 1.7.2024
Helsinki Stock Exchange
Trade date: 1.7.2024
Bourse trade: BUY
Share: LOIHDE
Amount: 402 shares
Average price / share: 12,2739 EUR
Total cost: 4 934,10 EUR
Following shares repurchased on 1.7.2024
the Group now holds 802 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of Communications Tiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
Loihde Plc Managers’ Transactions 28.6.2024 at 5:00 p.m. EEST
Loihde Plc: Managers’ Transactions – Suhonen
Loihde Plc has received the following notification:
Loihde Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Pirjo Suhonen
Position: Chief Financial Officer
Issuer: Loihde Oyj
LEI: 7437009IZO2SU9TPO664
Notification type: INITIAL NOTIFICATION
Reference number: 67612/4/4
____________________________________________
Transaction date: 2024-06-27
Outside a trading venue
Instrument type: SHARE
ISIN: FI4000014238
Nature of transaction: SUBSCRIPTION
Transaction details
(1): Volume: 45 Unit price: 13.3163 EUR
Aggregated transactions (1):
Volume: 45 Volume weighted average price: 13.3163 EUR
Further information
Director of Communications Tiina Nieminen, tel. +358 44 411 3480 or tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to create growth and competitiveness through digitalisation and to protect themselves from physical and cyber threats. Loihde consists of two business areas: security solutions with the brand Loihde Trust, and digital development with the brands Loihde Advance, Loihde Factor and Loihde Cloudon. The Group has approximately 850 employees and its revenue in 2023 amounted to EUR 133 million.
Attachments
Loihde Plc Managers’ Transactions 28.6.2024 at 4.45 p.m. EEST
Loihde Plc: Managers’ Transactions – Bergman
Loihde Plc has received the following notification:
Loihde Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Tomi Bergman
Position: Other senior manager
Issuer: Loihde Oyj
LEI: 7437009IZO2SU9TPO664
Notification type: INITIAL NOTIFICATION
Reference number: 67603/4/4
____________________________________________
Transaction date: 2024-06-27
Outside a trading venue
Instrument type: SHARE
ISIN: FI4000014238
Nature of transaction: SUBSCRIPTION
Transaction details
(1): Volume: 225 Unit price: 13.3163 EUR
Aggregated transactions (1):
Volume: 225 Volume weighted average price: 13.3163 EUR
Further information
Director of Communications Tiina Nieminen, tel. +358 44 411 3480 or tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to create growth and competitiveness through digitalisation and to protect themselves from physical and cyber threats. Loihde consists of two business areas: security solutions with the brand Loihde Trust, and digital development with the brands Loihde Advance, Loihde Factor and Loihde Cloudon. The Group has approximately 850 employees and its revenue in 2023 amounted to EUR 133 million.
Attachments
Loihde Plc Managers’ Transactions 28.6.2024 at 4:45 p.m. EEST
Loihde Plc: Managers’ Transactions – Meronen
Loihde Plc has received the following notification:
Loihde Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Juha Meronen
Position: Other senior manager
Issuer: Loihde Oyj
LEI: 7437009IZO2SU9TPO664
Notification type: INITIAL NOTIFICATION
Reference number: 67606/4/4
____________________________________________
Transaction date: 2024-06-27
Outside a trading venue
Instrument type: SHARE
ISIN: FI4000014238
Nature of transaction: SUBSCRIPTION
Transaction details
(1): Volume: 90 Unit price: 13.3163 EUR
Aggregated transactions (1):
Volume: 90 Volume weighted average price: 13.3163 EUR
Further information
Director of Communications Tiina Nieminen, tel. +358 44 411 3480 or tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to create growth and competitiveness through digitalisation and to protect themselves from physical and cyber threats. Loihde consists of two business areas: security solutions with the brand Loihde Trust, and digital development with the brands Loihde Advance, Loihde Factor and Loihde Cloudon. The Group has approximately 850 employees and its revenue in 2023 amounted to EUR 133 million.
Attachments
Loihde Plc Managers’ Transactions 28.6.2024 at 4:45 p.m. EEST
Loihde Plc: Managers’ Transactions – Aaltonen
Loihde Plc has received the following notification:
Loihde Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Kristiina Aaltonen
Position: Other senior manager
Issuer: Loihde Oyj
LEI: 7437009IZO2SU9TPO664
Notification type: INITIAL NOTIFICATION
Reference number: 67609/4/4
____________________________________________
Transaction date: 2024-06-27
Outside a trading venue
Instrument type: SHARE
ISIN: FI4000014238
Nature of transaction: SUBSCRIPTION
Transaction details
(1): Volume: 60 Unit price: 13.3163 EUR
Aggregated transactions (1):
Volume: 60 Volume weighted average price: 13.3163 EUR
Further information
Director of Communications Tiina Nieminen, tel. +358 44 411 3480 or tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to create growth and competitiveness through digitalisation and to protect themselves from physical and cyber threats. Loihde consists of two business areas: security solutions with the brand Loihde Trust, and digital development with the brands Loihde Advance, Loihde Factor and Loihde Cloudon. The Group has approximately 850 employees and its revenue in 2023 amounted to EUR 133 million.
Attachments
Loihde Plc Managers’ Transactions 28.6.2024 at 4:30 p.m. EEST
Loihde Plc: Managers’ Transactions – Järvinen
Loihde Plc has received the following notification:
Loihde Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Marko Järvinen
Position: Other senior manager
Issuer: Loihde Oyj
LEI: 7437009IZO2SU9TPO664
Notification type: INITIAL NOTIFICATION
Reference number: 67600/4/4
____________________________________________
Transaction date: 2024-06-27
Outside a trading venue
Instrument type: SHARE
ISIN: FI4000014238
Nature of transaction: SUBSCRIPTION
Transaction details
(1): Volume: 226 Unit price: 13.3163 EUR
Aggregated transactions (1):
Volume: 226 Volume weighted average price: 13.3163 EUR
Further information
Director of Communications Tiina Nieminen, tel. +358 44 411 3480 or tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to create growth and competitiveness through digitalisation and to protect themselves from physical and cyber threats. Loihde consists of two business areas: security solutions with the brand Loihde Trust, and digital development with the brands Loihde Advance, Loihde Factor and Loihde Cloudon. The Group has approximately 850 employees and its revenue in 2023 amounted to EUR 133 million.
Attachments
Loihde Plc Managers’ Transactions 27.6.2024 at 4:40 p.m. EEST
Loihde Plc: Managers’ Transactions – Mäki
Loihde Plc has received the following notification:
Loihde Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Jarno Mäki
Position: Other senior manager
Issuer: Loihde Oyj
LEI: 7437009IZO2SU9TPO664
Notification type: INITIAL NOTIFICATION
Reference number: 67596/6/4
____________________________________________
Transaction date: 2024-06-27
Outside a trading venue
Instrument type: SHARE
ISIN: FI4000014238
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 338 Unit price: 13.3163 EUR
Aggregated transactions (1):
Volume: 338 Volume weighted average price: 13.3163 EUR
Further information
Director of Communications Tiina Nieminen, tel. +358 44 411 3480 or tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to create growth and competitiveness through digitalisation and to protect themselves from physical and cyber threats. Loihde consists of two business areas: security solutions with the brand Loihde Trust, and digital development with the brands Loihde Advance, Loihde Factor and Loihde Cloudon. The Group has approximately 850 employees and its revenue in 2023 amounted to EUR 133 million.
Attachments
Loihde Plc Company announcement 27 June 2024 at 3:45 p.m. EEST
Loihde Plc conducts a directed share issue to deliver the savings shares that are part of its Employee Share Savings Plan (ESSP)
Today, on 27 June 2024, Loihde Plc's Board of Directors has decided to issue a total of 8,043 new shares as part of the Group's Employee Share Savings Plan (ESSP).
On 25 May 2023, Loihde's Board of Directors decided to establish an ESSP for the employees of Loihde Plc and its subsidiaries. The ESSP gives employees the opportunity to save a portion of their salaries and invest those savings in Loihde’s shares. The savings will be used to buy shares in Loihde four times a year. The main terms and conditions of the ESSP are described on Loihde’s website at www.loihde.com/en/investors/governance/remuneration.
The new shares are savings shares subscribed for with the savings accumulated by ESSP participants between 1 March and 31 May 2024. The share subscription price is EUR 13.3163 per share, which corresponds to the volume-weighted average share price on Nasdaq First North Growth Market Finland during the time period from 1 to 31 May 2024.
The share issue is based on the authorisation granted by the Annual General Meeting held on 6 May 2021. The new shares are estimated to be registered in the Trade Register on 10 July 2024, and trading in the new shares on Nasdaq First North Growth Market Finland, maintained by Nasdaq Helsinki Ltd, together with the old shares, is estimated to commence on 11 July 2024. As a result of the share issue, the total number of shares in Loihde Plc will increase to 5,740,424. The subscription price will be entered in full in the company’s reserve for invested unrestricted equity.
Further information
CEO Samu Konttinen:
Media contact: Director of Communications Tiina Nieminen, tel. +358 44 411 3480, tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to gain a sustainable competitive edge through data, AI and digitalisation, to harness the potential of the cloud and to protect themselves against both physical and cyber threats. The combining of these skills is what makes Loihde a unique and comprehensive partner. We are approximately 850 skilled professionals, and our revenue in 2023 amounted to EUR 133 million.
Attachments
Loihde Plc Company announcement 27 June 2024 at 3:45 p.m. EEST
Loihde Plc starts share buyback programme
Based on the authorisation given by the Annual General Meeting on 7 May 2024, the Board of Directors of Loihde Plc has decided to start a share buyback programme. The maximum number of shares to be repurchased is 350,000, which corresponds to approximately 6.1% of the company’s shares. However, the amount used for repurchasing shares will be at most EUR 5,000,000.
The shares will be acquired otherwise than in proportion to the shareholdings of the shareholders, by public trading at the market price at the time of acquisition on Nasdaq First North Growth Market Finland maintained by Nasdaq Helsinki Ltd. The share buyback programme will commence on 1 July 2024 at the earliest and end on 14 March 2025 at the latest. The repurchase of the company’s shares will be paid for with the company’s distributable unrestricted equity.
The purpose of the share buyback programme is to develop the company’s financing structure by lowering its equity and using the shares as part of the company’s share-based incentive schemes.
Loihde Plc has a total of 5,732,381 shares and votes. Currently, Loihde holds 400 of its own shares.
Further information
CEO Samu Konttinen:
Media contact: Director of Communications Tiina Nieminen, tel. +358 44 411 3480, tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to gain a sustainable competitive edge through data, AI and digitalisation, to harness the potential of the cloud and to protect themselves against both physical and cyber threats. The combining of these skills is what makes Loihde a unique and comprehensive partner. We are approximately 850 skilled professionals, and our revenue in 2023 amounted to EUR 133 million.
Attachments
Loihde Plc Company announcement 7 May 2024 at 4:30 p.m. EEST
Resolutions of Loihde Plc’s Annual General Meeting and the organisational meeting of the Board of Directors
Loihde Plc’s Annual General Meeting (AGM) was held in Vaasa today, on 7 May 2024. The AGM adopted the financial statements for 2023 and discharged the members of the Board of Directors and the CEO from liability for the financial year 2023.
Payment of dividend
The AGM decided to pay a dividend of EUR 1.00 per share for the financial year that ended on 31 December 2023. The dividend will be paid to shareholders who on the dividend record date 10 May 2024 are registered in the company’s shareholder register held by Euroclear Finland Oy. The dividend will be paid on 17 May 2024.
Remuneration Report
The AGM adopted the Remuneration Report for 2023.
Composition and remuneration of the Board of Directors
The AGM confirmed the number of Board members as six, re-elected the current Board members Juha Murtopuro, Anni Ronkainen and Matti Vikkula, and elected Marko Kauppi, Jari Niska and Christian Wetterstrand as new Board members. Marko Kauppi was elected Chair of the Board and Jari Niska Vice-Chair.
The AGM decided that the Chair of the Board shall be paid an annual fee of EUR 55,000, the Vice-Chair an annual fee of EUR 40,000 and the members an annual fee of EUR 27,400. Also, the AGM decided that the Chair of a committee shall be paid an annual fee of EUR 7,000 and the members an annual fee of EUR 3,500. No separate meeting fees will be paid. The AGM also decided that the travel expenses of the members of the Board of Directors will be reimbursed in accordance with the company’s travel rules.
The AGM decided on a directed share issue without payment in order to pay the commitment shares earned in the second vesting period of the share-based incentive scheme for the Board of Directors, which began on 7 May 2021 and ended on 31 December 2023. In accordance with the terms of the scheme, Timo Kotilainen, Kaj Hagros, Matti Piri and Stefan Wikman will receive one new share free of charge for each four shares they subscribed for in the share issue of the vesting period and still hold, in total 578 shares. The new shares are estimated to be registered in the Trade Register on 20 May 2024 and trading in the new shares on Nasdaq First North Growth Market Finland, together with the old shares, is estimated to commence on 21 May 2024. As a result of the share issue, the total number of shares in Loihde Plc will increase to 5,732,381 shares.
Auditor
The audit firm Ernst & Young Oy was elected as the company’s auditor, and they have informed the company that the auditor with principal responsibility will be Maria Onniselkä, auditor approved by the Finnish Central Chamber of Commerce. The auditor’s fee is paid in accordance with a reasonable invoice approved by the company.
Authorisation to decide on the acquisition of own shares
The AGM authorised the Board of Directors to decide on a share buyback programme, where at most 350,000 of the company’s shares would be acquired, in one or more instalments, using the company’s unrestricted equity. The authorisation entitles the Board of Directors to decide on the acquisition of shares also otherwise than in proportion to the shareholdings of the shareholders (directed acquisition). The authorisation covers the acquisition of shares either on the Nasdaq First North Growth Market Finland in accordance with its rules and guidelines, in which case the purchase price will be determined by the share price at the time of acquisition, or by means of a purchase offer to the shareholders, in which case the purchase price must be the same for all shareholders.
The company’s own shares will be purchased to be used for conducting acquisitions or other arrangements related to the company’s business, to improve the company’s financing structure, as part of the implementation of the company’s incentive schemes or to be transferred or cancelled. The authorisation includes the right for the Board of Directors to decide on all other terms and conditions pertaining to the acquisition of the company’s own shares. The authorisation is valid until the end of the next AGM, but until 30 June 2025 at the latest.
Authorisation to decide on a share issue
The AGM decided to authorise the Board of Directors to decide on the share issue of a maximum of 583,000 shares in one or more tranches. The shares can be used for financing acquisitions or restructuring, or for other purposes in the way and to the extent decided by the Board of Directors, a maximum of 483,000 shares, and as part of the personnel’s incentive schemes, a maximum of 100,000 shares.
The authorisation concerns issuing new shares as well as transferring treasury shares held by the company (share issue). The authorisation entitles the Board of Directors to decide on all other terms and conditions of the share issue. The Board of Directors may decide to issue shares otherwise than in proportion to the shareholdings of the shareholders (directed share issue).
The share issue authorisation with regard to shares used for acquisitions and restructuring is valid until the end of the next AGM, but until 30 June 2025 at the latest, while the authorisation with regard to shares related to incentive schemes for the company’s personnel is valid for four years from the decision of the AGM. The authorisation does not revoke the previous authorisations granted by the AGM to the Board of Directors on 6 May 2021, 5 May 2022 and 4 May 2023, to the extent that the previous authorisations concern shares issued as part of the personnel incentive schemes.
Remuneration of the members of the Shareholders’ Nomination Board
The AGM decided that the annual fee of the Chair of the Shareholders' Nomination Board will be EUR 4,000 and that the annual fee of the members will be EUR 2,500.
Authorisation to decide on donations
The AGM authorised the Board of Directors to decide on donations of at most EUR 50,000 in total to training and research activities that support the company’s business or to non-profit or comparable causes.
Minutes of the AGM
The minutes of the AGM will be available in Finnish on the company’s website by 21 May 2024 at the latest.
Resolutions of the organisational meeting of the Board of Directors
At the organisational meeting after the AGM, the Board of Directors elected committee members.
The Audit Committee consists of Matti Vikkula (Chair), Marko Kauppi and Christian Wetterstrand.
The Personnel Committee consists of Anni Ronkainen (Chair), Juha Murtopuro and Jari Niska.
The Board of Directors noted that all members of the Board are independent of the company and its major shareholders. The company complies with the Finnish Corporate Governance Code for listed companies when defining the independence of the members of the Board of Directors.
Further information
CEO Samu Konttinen:
Media contact: Director of Communications Tiina Nieminen, tel. +358 44 411 3480, tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to gain a sustainable competitive edge through data, AI and digitalisation, to harness the potential of the cloud and to protect themselves against both physical and cyber threats. The combining of these skills is what makes Loihde a unique and comprehensive partner. We are approximately 850 skilled professionals, and our revenue in 2023 amounted to EUR 133 million.
Attachments
Loihde Plc Managers’ Transactions 7 May 2024 at 10:30 a.m. EEST
Loihde Plc: Managers’ Transactions – Vikkula
Loihde Plc has received the following notification:
Loihde Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirementName: Matti Vikkula
Position: Member of the Board/Deputy member
Issuer: Loihde Oyj
LEI: 7437009IZO2SU9TPO664
Notification type: INITIAL NOTIFICATION
Reference number: 61489/6/4
____________________________________________
Transaction date: 2024-05-06
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI4000014238
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 88 Unit price: 13.9 EUR
(2): Volume: 518 Unit price: 13.95 EUR
(3): Volume: 77 Unit price: 13.95 EUR
(4): Volume: 177 Unit price: 13.9 EUR
(5): Volume: 100 Unit price: 13.95 EUR
(6): Volume: 100 Unit price: 13.95 EUR
(7): Volume: 50 Unit price: 13.95 EUR
(8): Volume: 250 Unit price: 13.95 EUR
(9): Volume: 1140 Unit price: 13.95 EUR
Aggregated transactions (9):
Volume: 2500 Volume weighted average price: 13.9447 EUR
Further information
Director of Communications Tiina Nieminen, tel. +358 44 411 3480 or tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to create growth and competitiveness through digitalisation and to protect themselves from physical and cyber threats. Loihde consists of two business areas: security solutions with the brand Loihde Trust, and digital development with the brands Loihde Advance, Loihde Factor and Loihde Cloudon. The Group has approximately 850 employees and its revenue in 2023 amounted to EUR 133 million.
Attachments
Loihde Plc Managers’ Transactions 6 May 2024 at 9:00 a.m. EEST
Loihde Plc: Managers’ Transactions – Vikkula
Loihde Plc has received the following notification:
Loihde Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Matti Vikkula
Position: Member of the Board/Deputy member
Issuer: Loihde Oyj
LEI: 7437009IZO2SU9TPO664
Notification type: INITIAL NOTIFICATION
Reference number: 61485/4/4
____________________________________________
Transaction date: 2024-05-03
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI4000014238
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 171 Unit price: 13.8 EUR
(2): Volume: 221 Unit price: 13.85 EUR
(3): Volume: 1000 Unit price: 13.9 EUR
(4): Volume: 900 Unit price: 13.95 EUR
(5): Volume: 208 Unit price: 13.95 EUR
Aggregated transactions (5):
Volume: 2500 Volume weighted average price: 13.9109 EUR
Further information
Director of Communications Tiina Nieminen, tel. +358 44 411 3480 or tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to create growth and competitiveness through digitalisation and to protect themselves from physical and cyber threats. Loihde consists of two business areas: security solutions with the brand Loihde Trust, and digital development with the brands Loihde Advance, Loihde Factor and Loihde Cloudon. The Group has approximately 850 employees and its revenue in 2023 amounted to EUR 133 million.
Attachments
Loihde Plc Company announcement 30 April 2024 at 8:00 a.m. EEST
Loihde Plc’s Business Report 1 January‒31 March 2024:
Revenue increased by 6% and EBITDA improved significantly
January‒March in brief
- Loihde Group’s revenue for the first quarter amounted to EUR 33.0 (31.3) million, an increase of 6%.
- EBITDA was EUR 1.4 (-0.4) million.
- Adjusted EBITDA1 was EUR 1.6 (-0.1) million, or 4.9% (-0.4%) of revenue.
1The adjusted EBITDA is calculated by excluding capital gains/losses arising from the disposal of properties, fixed asset shares and businesses, insurance and other compensations, and other adjustments from the respective reported figure.
Outlook for 2024 (unchanged)
In 2024, Loihde expects the Group's revenue to be on par with the previous year or grow. The Group’s adjusted EBITDA is estimated to improve compared to 2023, when it was EUR 7.6 million.
CEO Samu Konttinen:
In the first quarter, Loihde's revenue increased 6% year-on-year and came to EUR 33 million. Profitability improved clearly in comparison to the weak comparative period, with adjusted EBITDA totalling EUR 1.6 (-0.1) million, or 4.9% of revenue.
In line with the updated strategy, Loihde is organised into the following four business areas since the beginning of the year:
- Security Solutions, which provides security technology and locking services
- Cyber, Cloud & Connect
- Data & AI
- Digital Services
Based on the first months of experience, the business division centring around customer needs seems to function well. We are able to focus our services sharply on the customers' needs, and we gain greater cost-efficiency now that we have centralised all support services.
Good growth in continuous services
In the first quarter, Security Solutions and Cyber, Cloud & Connect grew noticeably year-on-year. Particularly pleasing was the growth in continuous services in both business areas. In Security Solutions, we won several tenders during the beginning of the year, including wellbeing services counties and other public sector organisations. Of the continuous services in Security Solutions, e.g. video surveillance and access control have continued to grow, with an increasing number of customers opting for full service agreements instead of traditional equipment investments.
Identity and Access Management (IAM) consulting, cloud transformation consulting and the 24/7 Cyber Security Operations Centre CSOC and Network Operations Centre NOC also showed good growth once again.
As far as corporate networks are concerned, we won several network modernisation projects, typically involving software-defined SD-WAN networks and connections, which we deliver operator-independently. Our ability to deliver both corporate networks and cyber surveillance 24/7 as managed services gives our customers the capacity to respond faster and more effectively to incidents.
Challenging market situation in IT consulting
In Digital Services and Data & AI, billing rates remained low and weakened the company's profitability. In both business areas, revenue clearly decreased year-on-year. In order to bring our cost levels in line with the current market demand, we have continued to implement efficiency measures.
We have also had some important wins in the early part of the year, such as the wellbeing services county of Päijät-Häme selecting Loihde as their key ICT service provider in eight different areas, and Loihde signing a digital service development agreement with an international healthcare company. In the financial sector, which is important to us, we have continued to work closely with our customers and we see good growth opportunities in this segment.
Profitability is improving
Overall, the year has started as planned. EBITDA significantly improved year-on-year, and we experienced good growth in continuous services. The market situation in digital development has continued to be challenging as expected. The market environment is partly uncertain and hence our growth expectations are cautious. However, we are confident about our prospects for improving profitability.
Webcast press conference
Loihde’s CEO Samu Konttinen will present the results in a webcast today, 30 April 2024 at 11:00 a.m. EEST. The webcast is held in Finnish and will be live at https://loihde.videosync.fi/q1-2024/.
Presentations and a recording of the webcast will later be available in Finnish on the company’s website at https://www.loihde.com/omistajille/raportit-ja-esitykset/.
Financial calendar
In addition to the half-year report and the financial statements release, Loihde publishes a more concise business report for the first and third quarters of the year.
- The half-year report for January‒June will be published on 27 August 2024.
- The business report for July‒September will be published on 30 October 2024.
Financial reports are published on the company’s website at https://www.loihde.com/en/for-shareholders-2/reports-and-presentations/.
30 April 2024
Loihde Plc
Board of Directors
This is not an interim report in accordance with IAS 34. The financial information presented in this business report is unaudited. Unless otherwise stated, the figures in brackets indicate the corresponding period last year.
Further information
CEO Samu Konttinen:
Media contact: Director of Communications Tiina Nieminen, tel. +358 44 411 3480, tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to gain a sustainable competitive edge through data, AI and digitalisation, to harness the potential of the cloud and to protect themselves against both physical and cyber threats. The combining of these skills is what makes Loihde a unique and comprehensive partner. sWe are approximately 850 skilled professionals, and our revenue in 2023 amounted to EUR 132.7 million.
Attachments
Loihde Plc Company announcement 29 April 2024 at 4:00 p.m. EEST
Loihde Plc cancels treasury shares
The Board of Directors of Loihde Plc has decided to cancel a total of 59,123 treasury shares, corresponding to 1.0% of the total number of shares and votes in the company. The cancellation does not affect the company’s share capital.
Loihde has acquired the shares that are to be cancelled through a share buyback programme, the start of which was announced on 5 September 2023 and the ending on 22 April 2024.
After the cancellation, the total number of shares in Loihde Plc is 5,731,803 shares. The cancellation will take effect after its entry in the Trade Register, which is estimated to take place on 7 May 2024.
Further information
CEO Samu Konttinen:
Media contact: Director of Communications Tiina Nieminen, tel. +358 44 411 3480, tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to gain a sustainable competitive edge through data, AI and digitalisation, to harness the potential of the cloud and to protect themselves against both physical and cyber threats. The combining of these skills is what makes Loihde a unique and comprehensive partner. We are approximately 850 skilled professionals, and our revenue in 2023 amounted to EUR 133 million. loihde.com
Attachments
Loihde Plc Company announcement 29 April 2024 at 4:00 p.m. EEST
Loihde Plc continues its Employee Share Savings Plan
The Board of Directors of Loihde Plc has decided to continue the Employee Share Savings Plan (ESSP) that started last year with a new savings plan. The aim of the ESSP is to encourage employees to acquire and own shares in Loihde, to align the interests of shareholders and employees, and to increase employee motivation and long-term commitment to the company.
The ESSP consists of a one-year savings period and a holding period following the savings period. The ESSP is offered to all Loihde employees. The employees will have the opportunity to save a portion of their salaries and invest those savings in Loihde’s shares. The savings will be used to buy shares in Loihde four times a year. The Board of Directors will decide whether the savings shares are purchased from the market or whether they are delivered to the participants in a directed share issue decided separately by the Board.
As a reward for their commitment, Loihde grants the participating employees a gross bonus of one (1) matching share for every two (2) savings shares acquired with their savings. Additionally, the participants have the opportunity to earn half (0.5) or one (1) performance-based matching share (gross) for every two (2) savings shares acquired with their savings, based on the achievement of the performance criterion. The performance criterion is the Group's EBITDA for the financial years 2024-2026. Continuity of employment and holding of acquired savings shares for the duration of the holding period are the prerequisites for receiving the bonus.
The potential bonus will be settled in shares, or partly in shares and partly in cash, after the holding period. The cash portion is intended to cover taxes and tax-like charges. The matching shares will be freely transferable after their registration on the participant's book-entry account.
Participation in the ESSP is voluntary. The savings period will commence on 1 June 2024 and end on 31 May 2025, and the holding period will commence with the first acquisition of savings shares and end on 31 May 2027. The maximum number of matching shares (gross number before taxes) for the ESSP that is about to commence is approximately 71,500, calculated at the current share price. The final number of matching shares will depend on the employees’ participation and savings rate in the plan, the fulfilment of the prerequisites for receiving matching shares and the achievement of the performance criterion.
"Loihde has offered its employees share-based incentive schemes since 2018. More than half of our employees have become owners of Loihde through them," says Loihde’s CEO Samu Konttinen.
Further information
CEO Samu Konttinen:
Media contact: Director of Communications Tiina Nieminen, tel. +358 44 411 3480 or tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to gain a sustainable competitive edge through data, AI and digitalisation, to harness the potential of the cloud and to protect themselves against both physical and cyber threats. The combining of these skills is what makes Loihde a unique and comprehensive partner. We are approximately 850 skilled professionals, and our revenue in 2023 amounted to EUR 133 million.
Attachments
| Shareholders | Date | % of Shares | % of Votes |
|---|---|---|---|
| Suomen Teollisuussijoitus Oy | 31.03.2024 | 4.8% | 4.8% |
| Bellurum Oy | 31.03.2024 | 3.7% | 3.7% |
| Lakiasiaintoimisto Asiakasturva Oy | 31.03.2024 | 2.2% | 2.2% |
| VISIO Allocator Fund | 31.03.2024 | 1.7% | 1.7% |
| Tenendum Oy | 31.03.2024 | 1.3% | 1.3% |
| LähiTapiola Keskinäinen Henkivakuutusyhtiö | 31.03.2024 | 1.3% | 1.3% |
| LähiTapiola Keskinäinen Vakuutusyhtiö | 31.03.2024 | 1.3% | 1.3% |
| Vaasan kaupunki | 31.03.2024 | 1.2% | 1.2% |
| Hotcom Oy | 31.03.2024 | 1.2% | 1.2% |
| Pelkonen Antti Olavi | 31.03.2024 | 1.2% | 1.2% |
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Company Facts
Guidance
Financial targets
2024-2027: Annual revenue growth of approximately 10%, adj. EBITDA-margin 15% by 2027. ROI above 10% and net debt/EBITDA 0-2x.
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