Aankondiging • Apr 02
Mitta Group Oy completed the acquisition of eSite from Dovre Group Plc (HLSE:DOV1V). Mitta Group Oy signed a business transfer agreement to acquire eSite from Dovre Group Plc (HLSE:DOV1V) for €0.3 million on March 2, 2026. A cash consideration of €0.3 million will be paid by Mitta Group Oy. As part of consideration, €0.3 million is paid towards common equity of eSite.
The business transfer will have a positive cash flow impact on Dovre Group Plc. The expected completion of the transaction is March 31, 2026.
Mitta Group Oy completed the acquisition of eSite from Dovre Group Plc (HLSE:DOV1V) on April 1, 2026. Aankondiging • Mar 25
Dovre Group Plc to Report Q1, 2026 Results on Apr 30, 2026 Dovre Group Plc announced that they will report Q1, 2026 results on Apr 30, 2026 Aankondiging • Mar 04
Mitta Group Oy signed a business transfer agreement to acquire eSite from Dovre Group Plc (HLSE:DOV1V) for €0.3 million. Mitta Group Oy signed a business transfer agreement to acquire eSite from Dovre Group Plc (HLSE:DOV1V) for €0.3 million on March 2, 2026. A cash consideration of €0.3 million will be paid by Mitta Group Oy. As part of consideration, €0.3 million is paid towards common equity of eSite.
The business transfer will have a positive cash flow impact on Dovre Group Plc. The expected completion of the transaction is March 31, 2026. Aankondiging • Jan 09
Dovre Group plc Announces CEO Changes, Effective January 8, 2026 Dovre Group Plc has appointed Markku Taskinen as Chief Executive Officer of the company as of January 8, 2026. He has been a member of Dovre’s management team since November 22, 2025. At the same time, Timo Saarinen will step down from his role as acting CEO and will continue in his position as interim Chief Financial Officer. Aankondiging • Nov 28
Dovre Group plc Approves Board Appointments Dovre Group Plc at the Extraordinary General Meeting held on 25 November 2025 Kalervo Rötsä was elected as new member of the Board. Convening after the Extraordinary General Meeting, the Board of Directors of Dovre Group Plc elected Kalervo Rötsä Chairman of the Board and Aaron Michelin Vice Chairman of the Board. Aankondiging • Sep 06
Dovre Group Plc (HLSE:DOV1V) agreed to acquire remaining 49% stake in Suvic Oy from three founding shareholders for €0.29 million. Dovre Group Plc (HLSE:DOV1V) agreed to acquire remaining 49% stake in Suvic Oy from three founding shareholders for €0.29 million on September 4, 2025. Upon completion, Dovre Group Plc will own 100% stake in Suvic Oy. Dovre Group will pay the purchase price by issuing 1,790,297 new Dovre shares. The transaction is expected to be completed during October 2025. Aankondiging • Jun 20
Dovre Group Plc and Suvic Oy Announce CFO Changes Interim Development Director Olli-Pekka Vanhanenhas been appointed Chief Financial Officer (CFO) of Dovre Group Plc, effective July 1, 2025. His areas of responsibility will include business control, accounting, financing and investor relations for Dovre Group and all group companies, including Suvic Oy. Vanhanen will also replace the current Group CFO Hans Sten on the Executive team of Dovre Group Plc. Sten announced his resignation in March 2025 and will leave his position at the end of June 2025. He will remain available to support the handover to Vanhanen during Q3. The current CFO of Suvic Oy, Ville Kemppinen, will likewise remain committed to ensuring a seamless transition. Before joining Dovre as an Interim Development Director in May 2025, Olli-Pekka Vanhanen was the CFO of Footbalance Group. Prior to that, he held the CFO position at several organizations including Elcoteq, Valmet Automotive, Maillefer Extrusion, Raute, and Oras. He has more than 30 years of versatile international and domestic experience in finance management and business controlling roles. He holds a master’s degree in accounting from the Turku School of Business Administration and Economics. Combining the CFO roles of Dovre Group and the main subsidiary Suvic Oy will allow the finance function to cooperate seamlessly across the group. Suvic’s further growth will benefit from the continuous guidance and support from Dovre, while the Group will have the transparency needed to provide it. Aankondiging • Jun 12
Dovre Group plc Appoints Tomi Merenheimo and Ville Vuori New Members of the Board Dovre Group Plc at its EGM held on June 12, 2025 announced that Tomi Merenheimo and Ville Vuori were elected as new members of the Board. Aankondiging • Mar 31
Dovre Group plc Announces Resignation of Hans Sten as CFO, At the End of June 2025 Dovre Group Plc’s CFO Hans Sten has submitted his resignation to the company and will leave his position at the end of June 2025. His resignation is based on personal reasons. In preparation of Mr. Sten’s departure, Dovre Group will carefully evaluate the structure and requirements of the company’s financial management, considering the recent changes in the group structure. The company will not start the search for a new full-time CFO for the time being. Aankondiging • Mar 20
Dovre Group plc Proposes No Dividend Dovre Group Plc proposed the company's Board of Directors on March 17, 2025, not to distribute a dividend. Subject to approval at its AGM to be held on April 29, 2025. Aankondiging • Mar 12
Dovre Group Plc Revises Earnings Guidance for the Year 2024 Dovre Group Plc revised earnings guidance for the year 2024. New guidance for 2024: Dovre Group’s revenue is expected to be approximately EUR 99 million and the operating loss (LBIT) is expected to be approximately EUR 22 million against previous guidance of revenue to be approximately EUR 99 million and the operating loss (LBIT) to be approximately EUR 12 million. The lowered guidance is due to two wind farm projects started by Suvic in Sweden during 2024 that have overrun their cost budgets considerably. Based on the information reported by Suvic’s management, the estimated total losses of the two projects upon completion are EUR 8.7 million and EUR 10 million. The losses are fully booked in the reporting period 2024, while the works continue into the spring of 2025. The additional loss accumulation was mostly related to the time and cost overrun of ground construction, snow removal and de-icing work. As a result of the extensive losses, Dovre will execute a focused re-auditing of the two projects. Aankondiging • Jan 22
Dovre Group Plc (HLSE:DOV1V) acquired remaining 42.80% stake in Renetec Oy. Dovre Group Plc (HLSE:DOV1V) acquired remaining 42.80% stake in Renetec Oy on January 22, 2025. Dovre Group has acquired the shares previously owned by minority shareholders of Renetec Oy. These shares have controlled about 42.8% of the ownership of Renetec. The transaction has been completed. After the transaction, Dovre Group owns 100% of the company’s shares. Based on agreement between the parties, the purchase price is not disclosed.
Dovre Group Plc (HLSE:DOV1V) completed the acquisition of remaining 42.80% stake in Renetec Oy on January 22, 2025. Aankondiging • Jan 04
Nyab AB (publ) (OM:NYAB) completed the acquisition of Businesses from Dovre Group Plc (HLSE:DOV1V). Nyab AB (publ) (OM:NYAB) entered into a conditional share purchase agreement to acquire Businesses from Dovre Group Plc (HLSE:DOV1V) for €34 million on November 20, 2024. A cash consideration of €34 million will be paid by Nyab AB (publ). As part of consideration, €34 million is paid towards assets of Businesses of Dovre Group Plc.
NYAB intends to finance the Acquisition through external debt financing and available cash funds. The transaction is subject to approval of offer by Dovre Group shareholders. The expected completion of the transaction is January 2, 2025.
Snellman Advokatbyrå AB acted as legal advisor for Nyab AB. KPMG Advisory N.V. acted as financial advisor for Nyab AB.
Nyab AB (publ) (OM:NYAB) completed the acquisition of Businesses from Dovre Group Plc (HLSE:DOV1V) on January 2, 2025. In connection with finalizing the acquisition, NYAB has agreed to refinance an existing overdraft facility and a term loan with its finance provider alongside a bridge loan. The new facilities consist of a revolving credit facility of approximately €26 million with a maturity of three years, a term loan of approximately EUR 9 million with a maturity of three years and quarterly repayments, as well as a bridge loan of €20 million that is to be repaid no later than the end of 2025. Aankondiging • Jan 02
Dovre Group Announces the Resignation of Stein Berntsen as President of Business Area Consulting Stein Berntsen, President of Business Area Consulting, has announced his resignation from the Dovre Group Executive Team. Dovre Group has announced the closing of the transaction in which Dovre sold its Project Personnel and Consulting Norway businesses to NYAB AB. Mr. Berntsen will follow the sold business and will assume a new role within NYAB AB. Going forward, the executive team of Dovre Group consists of Acting CEO Sanna Outa-Ollila and CFO Hans Sten. Aankondiging • Dec 17
Dovre Group plc Announces CEO Changes Dovre Group Plc has appointed Ms. Sanna Outa-Ollila as Acting CEO as of December 17, 2024. She assumes the role following Dovre's extraordinary general meeting's decision to approve the transaction to sell Dovre's Project Personnel and Norwegian Consulting businesses to NYAB AB. Former Group CEO Arve Jensen will follow the sold businesses and join NYAB at closing, which is expected to take place on or around January 2, 2025. Aankondiging • Nov 22
Dovre Group plc Revises Earnings Guidance for the Year 2024 Dovre Group Plc revised earnings guidance for the year 2024. For the year, the company will raise its guidance for revenue and lower its guidance for operating profit. New guidance for 2024: Dovre Group’s revenue is expected to be in the range of EUR 210 million to EUR 220 million and operating loss (LBIT) is expected to be in the range of EUR 1.5 million and EUR 2.0 million. Previous guidance for 2024 (released April 18, 2024): Dovre Group’s revenue is expected to be in the range of EUR 185 million to EUR 210 million and the operating profit (EBIT) is expected to be in the range of EUR 2 million to EUR 4 million. The reason for the raised guidance in revenue is due to higher net sales in Project Personnel segment and the reason for the lowered guidance in operating profit is the reduced profitability in some Renewable Energy projects. Aankondiging • Oct 24
Dovre Group plc Maintains Earnings Guidance for the Year 2024 Dovre Group Plc maintained earnings guidance for the year 2024. The company’s net sales in 2024 are expected to be in the range of EUR 185 million to EUR 210 million and the operating profit (EBIT) is expected to be in the range of EUR 2 million to EUR 4 million. Upcoming Dividend • Oct 16
Upcoming dividend of €0.01 per share Eligible shareholders must have bought the stock before 23 October 2024. Payment date: 31 October 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.2%). Aankondiging • Oct 08
Dovre Group Plc Announces Second Dividend Installment, Payable on October 31, 2024 Dovre Group Plc’s Annual General Meeting (AGM), held on April 4, 2024, decided on the company’s dividend distribution in two installments. The first installment, EUR 0.01 per share, was paid on April 15, 2024. The second installment, EUR 0.01 per share, will be paid on October 31, 2024. For this second installment the ex-dividend date is October 23, 2024, and the date of record is October 24, 2024. Reported Earnings • Aug 19
First half 2024 earnings released: €0.013 loss per share (vs €0.017 profit in 1H 2023) First half 2024 results: €0.013 loss per share (down from €0.017 profit in 1H 2023). Revenue: €93.2m (flat on 1H 2023). Net loss: €1.37m (down 175% from profit in 1H 2023). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Aankondiging • Aug 15
Dovre Group plc Maintains Earnings Guidance for the Year 2024 Dovre Group Plc maintained earnings guidance for the year 2024. The company’s net sales in 2024 are expected to be in the range of EUR 185 million to EUR 210 million and the operating profit (EBIT) is expected to be in the range of EUR 2 million to EUR 4 million. New Risk • Apr 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (€33.3m market cap, or US$35.5m). Upcoming Dividend • Mar 29
Upcoming dividend of €0.01 per share Eligible shareholders must have bought the stock before 05 April 2024. Payment date: 11 April 2024. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (2.3%). Reported Earnings • Feb 25
Full year 2023 earnings released: EPS: €0.038 (vs €0.049 in FY 2022) Full year 2023 results: EPS: €0.038 (down from €0.049 in FY 2022). Revenue: €196.7m (down 3.1% from FY 2022). Net income: €4.10m (down 20% from FY 2022). Profit margin: 2.1% (down from 2.5% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Aankondiging • Nov 19
Dovre Group Plc Restructures in Finland for Efficiency Dovre Group Plc is considering a reorganization of some of its business operations. The contemplated changes are expected to improve the profitability and quality of service through consolidating at least the essential parts of project personnel business into Norway and restructuring some of the remaining operations in Finland. The company initiates change negotiations in Project Personnel EMEA and eSite business units within Dovre Group Plc. Initially the negotiations are estimated to result in amendment of the terms of employment of up to 10 people, however possible terminations of employment would impact less than 10 people. Aankondiging • Oct 27
Dovre Group plc Provides Earnings Guidance for the Full Year 2023 Dovre Group Plc provides earnings guidance for the full year 2023. The company net sales in 2023 are expected to be in the range of EUR 185 to EUR 195 million and the operating profit (EBIT) is expected to be above EUR 7.0 million. New Risk • Oct 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.7% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€43.9m market cap, or US$46.5m). Reported Earnings • Aug 20
First half 2023 earnings released: EPS: €0.017 (vs €0.02 in 1H 2022) First half 2023 results: EPS: €0.017 (down from €0.02 in 1H 2022). Revenue: €93.1m (down 2.1% from 1H 2022). Net income: €1.81m (down 17% from 1H 2022). Profit margin: 1.9% (down from 2.3% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Professional Services industry in Europe. Aankondiging • Aug 17
Dovre Group plc Provides Earnings Guidance for the Year 2023 Dovre Group Plc provided earnings guidance for the year 2023. For the year, the company's net sales in 2023 are expected to be in the range of 185 million to 195 million euros and the operating profit (EBIT) is expected to be above 7 million euros. Aankondiging • Aug 11
Dovre Group Appoints Hans Sten as New CFO, Effective September 1, 2023 Dovre Group has appointed Mr. Hans Sten (M.Sc. Econ.) as the new CFO as of September 1, 2023. Previously he has worked for KPMG Oy, Avara Oy, Kotikatu Group Oy and Kiinteistömaailma Oy. Hans has extensive experience as a CFO and as a Board member in various companies. Hans reports to CEO Arve Jensen and is a member of the Dovre Group's Executive team, which will consist of the following persons: Hans Sten, Stein Berntsen, Miko Olkkonen and Arve Jensen.