Honkarakenne (HONBS) H2 2022 earnings summary

Executive summary

• FY2022 revenue rose 6% YoY to €73.7m; operating profit increased to €4.2m from €3.7m, while net profit declined to €2.8m from €3.3m. citeturn0search0

• Revenue growth in Finland was offset by lower exports following the suspension of sales to Russia; exports excluding Russia grew 33% YoY. citeturn0search0

• The order book ended the year at €29.0m, below the prior-year high of €52.4m; 2023 guidance calls for lower revenue and operating profit. citeturn0search0

Financial highlights

• Revenue was €73.7m, up 6% YoY; operating profit was €4.2m versus €3.7m, and profit before tax was €3.6m, unchanged YoY. citeturn0search0

• Net profit was €2.8m versus €3.3m; basic and diluted EPS were €0.47 versus €0.56. citeturn0search0

• Operating cash flow was €4.6m versus €7.2m; net cash flow from investing was -€1.1m and financing was -€2.2m. citeturn0search0

Outlook and guidance

• FY2023 net sales expected to decline to €50–56m; operating profit expected to decrease to €1.6–2.4m. citeturn0search0

• Outlook is based on the existing order book, expected operating-environment challenges and market development. citeturn0search0