![IT services sector's 2024 expectations fell slightly in Q1 - revenue expected to remain flat and profitability to rise slightly](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/a1c27db3-febe-46a3-abe4-aa20c188fd13.png)
Innofactor
1.295 EUR 0%Innofactor operates in the IT sector. The company is focused on offering services in digitization and cloud-based solutions. Examples of business areas include sales, marketing and communication, business intelligence, and CRM (Customer Relationship Management). The largest presence is found in the Nordic market and customers consist of small and medium-sized corporate customers. The head office is located in Espoo.
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![Joni Grönqvist Joni Grönqvist](https://www.inderes.se/cdn-cgi/image/format=auto,width=128,height=128,quality=90,fit=cover/https://core.inderes.fi/sites/default/files/2022-10/joni-gronqvist-1.png)
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Financial calendar
Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
Ensio Sami | 21.8 % | 21.8 % |
Ilmarinen Mutual Pension Insurance Company | 5.0 % | 5.0 % |
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Insider Transactions
Insider | Date | Total value |
---|---|---|
Vesa Syrjäkari | 26.05.2023 | 63,734EUR |
Vesa Syrjäkari | 25.05.2023 | 8,334EUR |
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Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 66.2 | 66.4 | 71.1 | 80.3 | 82.8 | 86.9 | 90.4 | 93.2 |
growth-% | 3.1 % | 0.3 % | 7.2 % | 12.8 % | 3.2 % | 4.9 % | 4.1 % | 3.1 % |
EBITDA | 7.2 | 10.1 | 7.8 | 9.1 | 9.7 | 10.5 | 10.9 | 11.3 |
EBIT (adj.) | 4.5 | 4.4 | 5.0 | 6.0 | 6.7 | 7.7 | 8.0 | 8.2 |
EBIT | 2.5 | 6.5 | 4.8 | 5.8 | 6.7 | 7.5 | 7.8 | 8.2 |
Profit before taxes | 2.1 | 5.7 | 4.2 | 5.2 | 6.1 | 7.2 | 7.8 | 8.3 |
Net income | 1.8 | 4.5 | 3.3 | 3.4 | 4.8 | 5.8 | 6.2 | 6.6 |
EPS (adj.) | 0.10 | 0.07 | 0.10 | 0.10 | 0.14 | 0.17 | 0.18 | 0.18 |
growth-% | 51.2 % | -35.1 % | 49.8 % | 3.0 % | 34.7 % | 22.1 % | 7.7 % | 3.1 % |
Dividend | 0.04 | 0.08 | 0.06 | 0.07 | 0.08 | 0.09 | 0.10 | 0.10 |
Dividend ratio | 84.9 % | 65.1 % | 65.4 % | 72.8 % | 59.0 % | 55.9 % | 57.5 % | 54.4 % |
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Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
EBITDA-% | 10.8 % | 15.2 % | 11.0 % | 11.3 % | 11.7 % | 12.0 % | 12.1 % | 12.1 % |
EBIT-% (adj.) | 6.8 % | 6.6 % | 7.1 % | 7.5 % | 8.0 % | 8.8 % | 8.9 % | 8.8 % |
EBIT-% | 3.8 % | 9.8 % | 6.7 % | 7.3 % | 8.0 % | 8.6 % | 8.7 % | 8.8 % |
ROE | 7.7 % | 18.4 % | 13.2 % | 13.7 % | 18.2 % | 19.7 % | 19.3 % | 18.7 % |
ROI | 6.9 % | 17.7 % | 12.8 % | 15.8 % | 19.0 % | 22.0 % | 23.5 % | 23.5 % |
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Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 1.28 | 1.52 | 1.05 | 1.23 | 1.30 | 1.30 | 1.30 | 1.30 |
Shares | 37.4 | 36.6 | 36.2 | 35.7 | 35.7 | 35.7 | 35.7 | 35.7 |
Market cap | 47.7 | 55.5 | 38.1 | 43.8 | 46.3 | 46.3 | 46.3 | 46.3 |
Enterprise value | 60.0 | 63.3 | 50.5 | 53.0 | 50.1 | 46.6 | 42.0 | 39.1 |
EV/S | 0.9 | 1.0 | 0.7 | 0.7 | 0.6 | 0.5 | 0.5 | 0.4 |
EV/EBITDA | 8.4 | 6.3 | 6.5 | 5.8 | 5.2 | 4.5 | 3.8 | 3.5 |
EV/EBIT (adj.) | 13.3 | 14.4 | 10.0 | 8.8 | 7.5 | 6.1 | 5.2 | 4.8 |
EV/EBIT | 24.0 | 9.7 | 10.6 | 9.1 | 7.5 | 6.3 | 5.4 | 4.8 |
P/E (adj.) | 12.7 | 23.2 | 10.8 | 12.2 | 9.6 | 7.8 | 7.3 | 7.0 |
P/E | 27.1 | 12.3 | 11.5 | 12.7 | 9.6 | 8.0 | 7.5 | 7.0 |
P/B | 2.0 | 2.2 | 1.5 | 1.7 | 1.7 | 1.5 | 1.4 | 1.3 |
P/S | 0.7 | 0.8 | 0.5 | 0.5 | 0.6 | 0.5 | 0.5 | 0.5 |
Dividend yield | 3.1 % | 5.3 % | 5.7 % | 5.7 % | 6.2 % | 7.0 % | 7.7 % | 7.7 % |
Equity ratio | 41.4 % | 49.9 % | 44.4 % | 46.8 % | 50.6 % | 57.6 % | 61.8 % | 63.1 % |
Gearing ratio | 52.6 % | 30.8 % | 50.0 % | 36.1 % | 13.7 % | 1.0 % | -12.7 % | -19.6 % |
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Quarter data
Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24e | Q3/24e | Q4/24e | 2024e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 20.1 | 18.0 | 21.9 | 80.3 | 21.2 | 20.4 | 18.6 | 22.6 | 82.8 |
EBITDA | 1.8 | 2.0 | 2.9 | 9.1 | 2.6 | 1.8 | 2.2 | 3.1 | 9.7 |
EBIT | 1.0 | 1.2 | 1.9 | 5.8 | 1.8 | 1.1 | 1.4 | 2.3 | 6.7 |
Profit before taxes | 0.8 | 1.4 | 1.6 | 5.2 | 1.7 | 0.9 | 1.3 | 2.1 | 6.1 |
Net income | 0.5 | 1.1 | 0.9 | 3.4 | 1.3 | 0.7 | 1.0 | 1.7 | 4.8 |
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![IT services sector's 2024 expectations fell slightly in Q1 - revenue expected to remain flat and profitability to rise slightly](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/a1c27db3-febe-46a3-abe4-aa20c188fd13.png)
Keva has chosen Innofactor to provide expert work and support services related to the development of their Microsoft Dynamics 365 services
![IT service sector Q1 summary: Revenue and profitability down from a strong comparison period, but some defensive wins in profitability as well](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/2960b8d0-2d5c-48ed-b5e4-0d1f888752df.png)
IT service sector Q1 summary: Revenue and profitability down from a strong comparison period, but some defensive wins in profitability as well
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Innofactor Plc: Managers’ Transactions – Anna Lindén
Innofactor Plc: Managers’ Transactions – Sami Ensio
Innofactor Plc: Managers’ Transactions – Heikki Nikku
Transfer of Innofactor Plc’s own shares
Innofactor: Steady good work in a challenging market
Innofactor Plc’s Interim Report for January 1–March 31, 2024 (IFRS)
![Innofactor Q1 on Tuesday: Satisfactory quarter by the company's standards expected, still outperforming the sector](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/3b0f0a52-37e0-4aeb-b209-f7a9b693f8c4.png)
Innofactor Q1 on Tuesday: Satisfactory quarter by the company's standards expected, still outperforming the sector
![IT service sector: Our expectations for 2024 generally at the lower end of companies' guidance](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/aefb64e2-4341-4ebe-a0d5-db91c5d85d27.png)
IT service sector: Our expectations for 2024 generally at the lower end of companies' guidance
Decisions of Innofactor Plc’s Annual General Meeting and the organizing meeting of the Board of Directors
![Q4 IT service sector summary: Growth and profitability in line with our expectations, 2023 can be seen as a defensive win](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/49f03a03-baae-4193-851d-48056aafa15c.png)