Negative profit warning: Dovre Group Plc will lower its 2023 guidance for net sales and operating profit

Dovre Group Plc                             Inside information                         June 26, 2023, at 12.30 pm

Negative profit warning: Dovre Group Plc will lower its 2023 guidance for net sales and operating profit

Dovre Group Plc will lower its 2023 guidance for net sales and operating profit.

New guidance for 2023: Dovre Group’s net sales in 2023 are expected to be in the range of 185 to 195 million euros and the operating profit (EBIT) is expected to be above 7 million euros.

Previous guidance for 2023: (released 27.4.2023): 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.

Dovre Group will release its H1 financial statement on August 17, 2023

For further information, please contact:

Dovre Group Plc
Arve Jensen, CEO
Tel. +47 90 60 78 11
Arve.jensen@dovregroup.com

Dovre Group is a global provider of project management services. Dovre Group has three business areas: Project Personnel, Consulting and Renewable energy. Dovre Group has offices in Canada, Finland, Norway, Singapore, and the US, and employs more than 800 people worldwide. Dovre Group is listed on Nasdaq Helsinki (symbol: DOV1V). Website: www.dovregroup.com 

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