Viafin Service: A Look at its Q1 Interim Report and Growth Strategy

Viafin Service released its first quarter interim report on Monday morning, revealing that the maintenance company’s turnover decreased to EUR 15.0 million in the first quarter of 2024 compared to 16.4 million euros in the same period a year earlier. Despite this decrease, Viafin’s operating result improved to 0.2 million euros from 0.1 million euros in the previous year, aligning with Inderes’ forecast.

The only analysis house following the company, Inderes, predicted a turnover drop to 14.2 million euros, which diverged from the actual result. However, Viafin has decided to maintain its financial guidance for the 2024 fiscal year, expecting an increase in turnover and an improvement in the relative operating result. The company had a turnover of 75.4 million euros in 2023, with an operating profit percentage of 5.5 percent.

During the review period, Viafin acquired OT Service Oy among other purchases. CEO Heikki Pesu highlighted these strategic extensions and mentioned that the company’s current cash resources support ongoing growth while prioritizing shareholder value. Looking ahead to the 2024 financial year, Pesu estimates that approximately 85 percent of the turnover will come from maintenance business, with the remaining 15 percent from project business. This strategic focus reflects Viafin’s commitment to continued growth and success.

Overall, despite a slight decrease in turnover for Viafin Service in Q1 of 2024 compared to Q1 of last year, there were still improvements made to their financial performance through better operating results and EBITDA figures than expected by Inderes analysts.

Viafin is showing its commitment towards continued growth and success through its strategic focus on maintenance business and project business while also prioritizing shareholder value and maintaining its financial guidance for the upcoming fiscal year