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Dovre Group (DOV1V) investor relations material
Dovre Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales for H1 2025 declined 28.3% year-over-year to EUR 26.3 million, with Q2 net sales down 45.8% to EUR 12.3 million.
Operating result for H1 was EUR -13.8 million, a significant deterioration from EUR -4.8 million in H1 2024.
Losses were mainly due to increased project losses in Swedish wind farm projects and lowered gross margin estimates in both Swedish and Finnish projects.
The sale of Project Personnel and Norwegian Consulting businesses was completed, making the group focused on renewable energy.
Management changes included a new CEO and CFO for Suvic and Dovre, and new board members were appointed.
Financial highlights
EBITDA for H1 2025 was EUR -13.3 million, compared to EUR -4.6 million in H1 2024.
Earnings per share for H1 were EUR -0.001, compared to EUR -0.013 in H1 2024.
Net cash flow from operating activities was EUR -5.8 million, down from EUR -0.3 million in H1 2024.
Equity ratio at period end was 17.2%, down from 35.1% a year earlier.
Return on equity for H1 was -114.8% and return on investment was -64.6%.
Outlook and guidance
Net sales for 2025 are expected to decline compared to 2024.
Operating profit (EBIT) is expected to improve but remain negative.
Majority of Renewable Energy turnover will be recognized in H2, with expected improvement in operating result.
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