Estonia's Infortar H1 operating profit nearly doubles
Estonia's Infortar H1 operating profit nearly doubles
Overview
Estonia conglomerate's H1 revenue was flat yr/yr, operating profit nearly doubled
EBITDA rose 31% and net profit turned positive from a loss last year
Company increased investments and expanded Tallink stake, citing improved segment profitability
Outlook
Company did not provide specific guidance for the current quarter or full year
Result Drivers
ENERGY SEGMENT ACTIONS - Elenger balanced investments between transition fuels and renewables, including opening a new biomethane plant, and secured gas supplies for the next heating season
MARITIME TRANSPORT MIX - Tallink saw lower passenger numbers but higher cargo volumes, with management focused on improving profitability and efficiency
INCREASED INVESTMENTS - Group invested EUR 50 mln in H1, expanded holdings and increased Tallink stake
Company press release: ID:nGNE67lFkR
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Sales Revenue |
| EUR 945.92 mln |
|
H1 EPS |
| EUR 0.70 |
|
H1 Net Income |
| EUR 7.20 mln |
|
H1 EBIT |
| EUR 51.07 mln |
|
H1 EBITDA |
| EUR 111.23 mln |
|
H1 EBITDA Margin |
| 11.80% |
|
Reuters Recommended Reads
July 31 - Estonia's Tallinna Vesi Q2 revenue falls 4.1% on lower construction services
July 31 - British Airways owner IAG's H1 revenue rises 1% on strong travel demand
July 31 - Canada's TransAlta swings to Q2 profit as revenue rises
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)