Digitalist Group Plc’s Business Review, 1 January – 30 September 2024

Digitalist Group Oyj
Digitalist Group Oyj
Digitalist Group Oyj
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Digitalist Group Plc                    Stock Exchange Release 25.10.2024 at 9:00

Digitalist Group Plc’s Business Review, 1 January – 30 September 2024

SUMMARY

July–September 2024 (comparable figures for 2023 in parentheses):

  • Turnover: EUR 3.6 million (EUR 3.6 million), decrease: -0.8%.

  • EBITDA: EUR -0.2 million (EUR 0.4 million*), -5.0% of turnover (12.1%).

  • EBIT: EUR -0.3 million (EUR 0.2 million*), -8.7% of turnover (6.6%).

  • Net income: EUR -1.5 million (EUR -0.5 million*), -40.8% of turnover (-13.2%).

  • Earnings per share: EUR -0.00 (EUR -0.00).

  • Earnings per share (diluted): EUR -0.00 (EUR -0.00).

*) EBIT, EBITDA and net income of the comparison period were impacted by a booked gain of EUR 0.6 million from the FutureLab Share transaction.

January–September 2024 (comparable figures for 2023 in parentheses):

  • Turnover: EUR 11.5 million (EUR 12.5 million), decrease: -8.4%.

  • EBITDA: EUR -1.3 million (EUR -0.5 million*), -11.5% of turnover (-3.9%).

  • EBIT: EUR -1.7 million (EUR -1.1 million*), -14.4% of turnover (-8.8%).

  • Net income: EUR -4.0 million (EUR -2.5 million*), -35.0% of turnover (-19.7%).

  • Earnings per share: EUR -0.01 (EUR -0.00).

  • Earnings per share (diluted): EUR -0.00 (EUR -0.00).

  • Number of employees at the end of the review period: 126 (138), decrease of -9%.

*) EBIT, EBITDA and net income of the period were impacted by a booked gain of EUR 0.6 million from the FutureLab Share transaction.

CEO’s review

The third quarter of 2024 has been one step towards a profitable business for Digitalist Group. While no major events impacted this quarter, we are seeing slowly improving market conditions in Sweden. However, the weak Finnish economy continues to affect our business operations in the region.

Our revenues for the quarter remained consistent with the same period last year, totaling EUR 3.6 million. EBITDA for the third quarter of 2024 was EUR -0.2 million, compared to EUR 0.4 million in the same period last year, which included a EUR 0.6 million gain from the FutureLab Share transaction. This underscores the need for ongoing efforts in operational efficiency and cost management.

A significant highlight of the quarter was the launch of our first AI offering, Digitalist Private AI Hub, in September. This platform enables companies to leverage the strengths of generative AI without compromising on data security and GDPR compliance. We believe this innovative solution positions us well to meet the growing demand for secure AI applications in the enterprise as well as in the public sector. The new offering has already brought us clients like Sand? and Pinmeto. Other new clients acquired during the third quarter are DNA, City of Tampere and Pricer.

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