Enento Group (ENENTO) Pre-Silent Call summary

Executive summary

• Market environment in Q1 2025 remains stable with low economic growth and moderate inflation; no significant changes in consumer loan demand or confidence, especially in Finland and Sweden.

• New Swedish government measures to prevent overindebtedness began in March 2025; banking license process ongoing.

• Strategic focus on cost efficiencies and commercialization of new services, with ongoing transformation in Sweden to improve margins.

Trading performance and revenue trends

• Group revenue development is flattish in Q1, with growth in Business Insight (Finland, Norway, Denmark) offset by continued decline in Consumer Insight.

• Real estate and compliance services show strong growth, while Consumer Insight sales remain pressured by low consumer credit volumes.

• New customer contracts signed in Q4 are contributing to Q1 revenue, though impact is still small.

• Real estate offering continues double-digit growth, driven by new services and slightly increased volumes.

Profitability and margins

• Profitability and margins are under pressure due to declining high-margin Consumer Insight business and increased data acquisition costs, especially in Finland.

• Margin pressure is being addressed through cost efficiencies and new revenue activities.

• Infrastructure consolidation project is negatively impacting short-term development activities but targets significant savings in the second half and long term.

• Margin trends in Q1 are similar to Q4, with increased materials and services costs despite flat revenue.