Affecto improved its profitability and outgrew the market
Growth was almost double compared to market growth, EBIT increased more than twofold.
Affecto’s net sales grew approximately 12 per cent in 2011 to 127.3 million euros (114.1 million in 2010). EBIT grew to 8.2 million euros (3.3 million) and earnings per share rose to 26 cents (5 cents).
Affecto achieved the goals set for 2011 of at least doubling the EBIT of 2010 and net sales growth of over 10%. In addition, its earnings per share were over quintupled.
In the last quarter of 2011 net sales grew to 36.6 million euros (36.0 million in the last quarter of 2010). The EBIT of the quarter increased significantly to 2.8 million euros compared to 2.4 million in the corresponding period of 2010.
“I am satisfied with our performance in 2011. We succeeded well in our main goal, improving profitability. In our main business, we outgrew the market in all Nordic countries, simultaneously increasing our market share,” says Affecto CEOPekka Eloholma.
The good results are due to the long-term development of Affecto’s offering and know-how, and furthermore its ability to meet and exceed the clientele’s needs, as well as a focus on the Enterprise Information Management market. Affecto has stabilised its foothold on the EIM market and is now aiming for deep partnerships.
Affecto’s order backlog on December 31st was 57.1 million euros, translating into a 5 per cent growth compared to the end of year 2010.
The performance in Finland continued growing with an EBIT increase from 5.1 million euros to 6.8 million.
In Sweden the development has been positive with a growth of 41 per cent. Even though a positive result was not achieved in 2011, the higher order backlog and capacity in Sweden make a good foundation for improving profitability.
In Norway and Denmark Affecto achieved its best result ever, and in the Baltics profitability improved significantly, from 4 to 13 per cent.
The general outlook for Affecto’s business is positive. The whole group is still focusing heavily on improving its profitability and outgrowing the market.
“As of now the market shows no signs of slowing down. At the end of 2011 our order backlog was at its highest level ever. We anticipate the EIM segment to keep on growing this year, and our goal is to continue outgrowing the market,” comments Eloholma.
For further information:
Pekka Eloholma, CEO, Affecto
Tel. +358 205 777 737, e-mail pekka.eloholma(a)affecto.com