Q3 2024 Talenom Oyj Earnings Call Transcript
Key Points
- Talenom PLC (OHEL:TNOM) has updated its strategy to focus on scalable growth and core competencies, which is expected to enhance its market position.
- The company is leveraging digitalization trends, such as mandatory e-invoicing in Southern Europe, to drive growth in its accounting business.
- Talenom PLC (OHEL:TNOM) has successfully implemented a unique market approach by separating its software business, allowing it to offer software to other accounting firms.
- The company has achieved significant profitability improvements, particularly in Finland, with an EBIDTA increase of 15.5%.
- Talenom PLC (OHEL:TNOM) has made substantial progress in its software rollout in Sweden, with 40% of the customer base already migrated, leading to positive feedback from customers and accountants.
- The company's growth rate has slowed to 5.5%, primarily due to economic slowdowns in Sweden and Finland, and fewer acquisitions.
- Revenue in Finland declined by 1.5% due to economic downturns affecting customer volumes and increased business closures.
- Sweden's revenue also declined by 2% for the full period, with a significant 10% drop in the last quarter, impacted by economic conditions and integration projects.
- The software implementation in Sweden has led to customer churn and a negative EBIDTA of half a million in the last quarter.
- The company faces challenges in the current market environment, with tougher sales processes compared to a decade ago, requiring more effort to win new clients.
Hello, everyone there in online. You are welcome to Talent and Business Review of Q3 and updated strategy.
I'm Otto Pekk Huhtala, CEO of Talenom. And here's my colleague is.
Christian Dieroff, Country Director of Sweden. Hello.
Hello everybody. My name is Matti Elionen and I'm CFO of Telenom.
I will start from the updated strategy. It's the hot topic today. And after that, Christian is telling more about our software project in Sweden. And after that, Matti will explain more about our latest financial figures. So thank you. Let's go.
Target state is the good starting point. And I would reply that we our ambition is the growth. We want to grow faster, more scalable and focus our core competencies. This is the basement for the whole updated strategy.
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