Announcement • 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. Announcement • 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 Announcement • 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. Announcement • 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. Board Change • Dec 08
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Director Ilari Koskelo is the most experienced director on the board, commencing their role in 2008. Independent Vice Chairman of the Board Aaron Michelin was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • 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. New Risk • Oct 31
New major risk - Revenue and earnings growth Earnings have declined by 61% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 61% per year over the past 5 years. Market cap is less than US$10m (€8.16m market cap, or US$9.42m). New Risk • Oct 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €7.80m (US$9.02m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Market cap is less than US$10m (€7.80m market cap, or US$9.02m). Buy Or Sell Opportunity • Oct 09
Now 56% undervalued after recent price drop Over the last 90 days, the stock has fallen 60% to €0.074. The fair value is estimated to be €0.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 38% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 4.4% in a year. Earnings are forecast to grow by 81% in the next year. Announcement • 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. Reported Earnings • Aug 21
First half 2025 earnings: Revenues miss analyst expectations First half 2025 results: Revenue: €26.4m (down 72% from 1H 2024). Net loss: €7.92m (loss widened 480% from 1H 2024). Revenue missed analyst estimates by 42%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Professional Services industry in Finland. Major Estimate Revision • Aug 17
Consensus EPS estimates fall by 500% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -€0.01 to -€0.06 per share. Revenue forecast unchanged at €96.7m. Professional Services industry in Finland expected to see average net income growth of 47% next year. Consensus price target down from €0.21 to €0.19. Share price fell 9.0% to €0.17 over the past week. New Risk • Aug 14
New major risk - Revenue and earnings growth Earnings have declined by 22% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 5x cash flows per share. Earnings have declined by 22% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (€19.0m market cap, or US$22.3m). Announcement • 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. Board Change • Jun 15
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Antti Manninen was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • 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. Upcoming Dividend • Jun 06
Upcoming dividend of €0.03 per share Eligible shareholders must have bought the stock before 13 June 2025. Payment date: 25 June 2025. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 12%. Within top quartile of Finnish dividend payers (6.1%). Higher than average of industry peers (3.9%). Major Estimate Revision • May 02
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €107.2m to €97.3m. Losses expected to increase from €0 per share to €0.01. Professional Services industry in Finland expected to see average net income growth of 47% next year. Consensus price target down from €0.23 to €0.21. Share price fell 19% to €0.20 over the past week. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Acting CEO & Director Sanna Outa-Ollila was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • 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. Announcement • Mar 20
Dovre Group plc Proposes Dividend Dovre Group Plc board on March 17, 2025 proposed dividend from shareholders representing over 14% of the company's shares that the Annual General Meeting on April 29, 2025, resolve to pay a dividend of EUR 0,06 per share. Reported Earnings • Mar 17
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: €0.078 loss per share (down from €0.038 profit in FY 2023). Revenue: €99.4m (down 50% from FY 2023). Net loss: €12.1m (down 398% from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 61%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Professional Services industry in Finland. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Mar 14
Consensus EPS estimates fall by 54%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €91.2m to €99.1m. Forecast EPS reduced from -€0.13 to -€0.20 per share. Professional Services industry in Finland expected to see average net income growth of 37% next year. Consensus price target down from €0.30 to €0.25. Share price fell 31% to €0.23 over the past week. Announcement • 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. New Risk • Mar 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 121% Paying a dividend despite having no free cash flows. High level of non-cash earnings (32% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Profit margins are more than 30% lower than last year (0.4% net profit margin). Market cap is less than US$100m (€35.6m market cap, or US$37.0m). Major Estimate Revision • Feb 01
Consensus revenue estimates fall by 57% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €210.3m to €91.2m. Forecast losses increased from -€0.02 to -€0.13 per share. Professional Services industry in Finland expected to see average net income growth of 15% next year. Consensus price target down from €0.35 to €0.30. Share price fell 8.2% to €0.29 over the past week. Announcement • 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. Announcement • 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. Announcement • 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. New Risk • Dec 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Finnish stocks, typically moving 9.1% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.1% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 121% Paying a dividend despite having no free cash flows. High level of non-cash earnings (32% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (0.4% net profit margin). Market cap is less than US$100m (€26.1m market cap, or US$27.2m). Announcement • 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. Major Estimate Revision • Nov 24
Consensus EPS estimates fall from profit to €0.02 loss The consensus outlook for fiscal year 2024 has been updated. Expected to report loss instead of -€0.02 instead of €0.02 per share profit previously forecast. Revenue forecast unchanged at €210.3m Professional Services industry in Finland expected to see average net income growth of 13% next year. Consensus price target down from €0.50 to €0.35. Share price rose 5.5% to €0.32 over the past week. Announcement • 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. Announcement • 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 Finnish dividend payers (6.1%). In line with average of industry peers (3.1%). Announcement • 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. Major Estimate Revision • Aug 22
Consensus EPS estimates fall by 33% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.03 to €0.02 per share. Revenue forecast steady at €201.9m. Net income forecast to grow 256% next year vs 40% growth forecast for Professional Services industry in Finland. Consensus price target of €0.50 unchanged from last update. Share price fell 2.6% to €0.34 over the past week. Reported Earnings • Aug 19
First half 2024 earnings: EPS in line with analyst expectations despite revenue beat 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 Finland. 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 17% per year, which means it is performing significantly worse than earnings. New Risk • Aug 16
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 30% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (0.4% net profit margin). Market cap is less than US$100m (€36.8m market cap, or US$40.4m). Announcement • 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. Major Estimate Revision • Apr 28
Consensus EPS estimates fall by 40% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €207.5m to €200.3m. EPS estimate also fell from €0.05 per share to €0.03 per share. Net income forecast to shrink 26% next year vs 31% growth forecast for Professional Services industry in Finland . Consensus price target down from €0.65 to €0.50. Share price rose 6.3% to €0.34 over the past week. New Risk • Apr 18
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 Finnish stocks, typically moving 6.9% 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 (6.9% average weekly change). Market cap is less than US$100m (€33.8m market cap, or US$36.0m). 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 Finnish dividend payers (5.9%). In line with average of industry peers (2.7%). Major Estimate Revision • Feb 26
Consensus EPS estimates increase by 67% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from €199.4m to €207.5m. EPS estimate increased from €0.03 to €0.05 per share. Net income forecast to shrink 9.3% next year vs 26% growth forecast for Professional Services industry in Finland . Consensus price target of €0.65 unchanged from last update. Share price fell 9.4% to €0.41 over the past week. Reported Earnings • Feb 25
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind 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 exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 5.0%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Professional Services industry in Finland. 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. Price Target Changed • Feb 16
Price target decreased by 19% to €0.65 Down from €0.80, the current price target is provided by 1 analyst. New target price is 52% above last closing price of €0.43. Stock is down 33% over the past year. The company is forecast to post earnings per share of €0.04 for next year compared to €0.049 last year. Announcement • 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. Announcement • 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. Price Target Changed • Oct 27
Price target decreased by 19% to €0.65 Down from €0.80, the current price target is provided by 1 analyst. New target price is 62% above last closing price of €0.40. Stock is down 35% over the past year. The company is forecast to post earnings per share of €0.04 for next year compared to €0.049 last year. Reported Earnings • Aug 20
First half 2023 earnings: Revenues exceed analysts expectations while EPS lags behind 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 exceeded analyst estimates by 6.5%. Earnings per share (EPS) missed analyst estimates by 30%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Professional Services industry in Finland. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • 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. Announcement • 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. Major Estimate Revision • Jul 05
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €208.0m to €190.8m. EPS estimate also fell from €0.05 per share to €0.04 per share. Net income forecast to shrink 20% next year vs 8.4% growth forecast for Professional Services industry in Finland . Consensus price target down from €0.82 to €0.77. Share price rose 2.5% to €0.49 over the past week. New Risk • Jul 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.1% 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 2.1% per year for the foreseeable future. Minor Risk Market cap is less than US$100m (€52.9m market cap, or US$57.5m). Announcement • Jun 29
Dovre Group plc Announces Resignation of Sirpa Haavisto as CFO, Effective End of September Dovre Group’s CFO Sirpa Haavisto has submitted her resignation to the company for personal reasons. She will leave her position by the end of September. Announcement • Jun 27
Dovre Group Plc Lowers Earnings Guidance for the Full Year 2023 Dovre Group Plc lowered earnings guidance for the full year 2023. For the year, the company expected net sales to be in the range of EUR 185 million to EUR 195 million against previous guidance and the operating profit is expected to be above EUR 7 million. Previous guidance for 2023: Dovre Group´s net sales are expected to improve from 2022 and the operating profit (EBIT) is expected to be about the same as in 2022. For clarification, Dovre’s net sales in 2022 were 203 million euros and operating profit was 8,5 million euros. The reason for the lowered guidance is the reduced number and smaller size of new projects in the Finnish Renewable Market sector combined with the weakening of the Norwegian Crown by about 10% year-on-year. The demand for Dovre’s Project Personnel and Consulting business areas has remained solid and these two segments combined will achieve their 2022 performance level in both net sales and operating profit without currency impact. Buying Opportunity • Jun 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.4%. The fair value is estimated to be €0.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Earnings per share has grown by 33%. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings is also forecast to grow by 3.3% per annum over the same time period. Buying Opportunity • May 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.0%. The fair value is estimated to be €0.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Earnings per share has grown by 33%. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings is also forecast to grow by 3.3% per annum over the same time period. Buying Opportunity • May 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.5%. The fair value is estimated to be €0.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Earnings per share has grown by 33%. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings is also forecast to grow by 3.3% per annum over the same time period. Price Target Changed • May 01
Price target increased by 9.3% to €0.82 Up from €0.75, the current price target is provided by 1 analyst. New target price is 42% above last closing price of €0.58. Stock is down 4.2% over the past year. The company is forecast to post earnings per share of €0.05 for next year compared to €0.049 last year. Upcoming Dividend • Mar 24
Upcoming dividend of €0.01 per share at 1.7% yield Eligible shareholders must have bought the stock before 31 March 2023. Payment date: 12 April 2023. Trailing yield: 1.7%. Lower than top quartile of Finnish dividend payers (5.1%). Lower than average of industry peers (3.5%). Reported Earnings • Feb 24
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: €0.049 (up from €0.035 in FY 2021). Revenue: €203.3m (up 43% from FY 2021). Net income: €5.15m (up 41% from FY 2021). Profit margin: 2.5% (in line with FY 2021). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 2.0%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Professional Services industry in Finland. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 29% per year. Announcement • Feb 04
Dovre Group Plc Revises Earnings Guidance for 2022 Dovre Group Plc’s net sales is expected to be EUR 203 million and operating profit EUR 8.5 million in 2022. The figures are preliminary and unaudited. The operating profit exceeds the previous guidance’s minimum operating profit by over 15%. Previous guidance for year 2022 (released on October 25, 2022): Dovre Group’s net sales in 2022 is expected to be more than EUR 195 million and the operating profit (EBIT) is expected to be above 7.3 million. Announcement • Jan 02
Dovre Group Plc to Report Fiscal Year 2022 Results between Mar 06, 2023 and Mar 10, 2023 Dovre Group Plc announced that they will report fiscal year 2022 results on between Mar 06, 2023 and Mar 10, 2023 Price Target Changed • Nov 16
Price target increased to €0.75 Up from €0.70, the current price target is provided by 1 analyst. New target price is 24% above last closing price of €0.60. Stock is down 14% over the past year. The company is forecast to post earnings per share of €0.05 for next year compared to €0.035 last year. Major Estimate Revision • Oct 29
Consensus EPS estimates increase by 25% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €196.1m to €200.2m. EPS estimate increased from €0.04 to €0.05 per share. Net income forecast to grow 13% next year vs 20% growth forecast for Professional Services industry in Finland. Consensus price target of €0.75 unchanged from last update. Share price was steady at €0.61 over the past week. Announcement • Oct 27
Dovre Group plc Raises Earning Guidance for the Year 2022 Dovre Group Plc raised earnings guidance for the year of 2022. For the year, the company expected net sales to be more than EUR 195 million and the operating profit (EBIT) is expected to be above EUR 7.3 million compared to Previous guidance of net sales of EUR 185 million and the operating profit (EBIT) is expected to be between EUR 6.5 million and EUR 7.5 million. Major Estimate Revision • Aug 25
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €199.1m to €196.1m. EPS estimate also fell from €0.05 per share to €0.04 per share. Net income forecast to shrink 1.6% next year vs 23% growth forecast for Professional Services industry in Finland . Consensus price target up from €0.70 to €0.75. Share price fell 2.6% to €0.64 over the past week.