Investor Presentation Q2 2022
PERIOD IN BRIEF
The group's revenue for the first half of 2022
was €149,256 thousand, roughly 27% larger
than a year earlier when revenue amounted to
€117,966 thousand.
Revenue growth was attributable to the
revenue of the Buildings segment, which grew
by 40%. The revenue of the Infrastructure
segment decreased by 21%.
The decline in revenue generated by the
Infrastructure segment is attributable to the
cutback in investments made by the largest
customer, the Transport Administration,
The group ended the first half of 2022 with an
operating profit of €1,457 thousand (H1 2021:
an operating loss of €1,643 thousand).
EBITDA for the period amounted to €3,158
thousand (H1 2021: €92 thousand).
Nordecon ended the first half of 2022 with a
gross profit of €3,181 thousand (H1 2021:
€1,306 thousand) and gross margins that were
higher than a year earlier: 2.1% for the first
half-year (H1 2021: 1.1%) and 2.5% for the
second quarter (Q2 2021: 2.0%).
The group's gross profit for both the first half
and second quarter of 2022 was earned in the
Buildings segment.
The Infrastructure segment's performance was
weaker than in the same period last year,
The group's order book stood at €220,687
thousand at 30 June 2022, reflecting an 18%
decrease year on year.
In the first half and second quarter of 2022, we
signed new contracts of €89,661 thousand and
€26,494 thousand, respectively (H1 2021:
€174,820 thousand and Q2 2021: €69,938
thousand).
The group's administrative expenses for the
first half of 2022 amounted to €3,118 thousand.
Compared with the same period last year,
administrative expenses grew by around 10%
(H1 2021: €2,833 thousand) due to general
growth in the cost of goods and services.
The ratio of administrative expenses to revenue
(12 months rolling) declined year on year,
decreasing to 2.0% (H1 2021: 2.2%).
Operating activities produced a net cash
outflow of €1,955 thousand the first half of
2022 (H1 2021: an outflow of €163 thousand).
Operating cash flow is increasingly affected by
the need to make prepayments to materials
suppliers, which have grown due to spikes in
materials prices and continuing supply
disruptions.
NORDECON
PROFESSIONALISM OPENNESS. RELIABILITY
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