Innofactor’s Q2 results were as expected. Net sales amounted to EUR 17.3m (Evli EUR 17.3m), while EBITDA amounted to EUR 2.1m (Evli EUR 2.2m). The order backlog continued to grow well, up 28% y/y to EUR 72.7m.

Innofactor Plc Press release, on July 9, 2021, at 9:00 Finnish time

Microsoft has awarded Innofactor as ISV Partner of the Year 2021 in Finland. The endorsement is a demonstration of Innofactor’s long-term software development and comprehensive work to promote the digitalization of Finnish organizations.

Innofactor’s earnings turnaround has progressed convincingly for more than two years and brought forth the strong earnings potential of the company’s Finnish business. The Finnish business is already close to the long-term 20% growth and 20% EBITDA target, but other countries depress the development at Group level. The company still invests in strengthening its Nordic operations to initiate a phase of stronger and more sustainable profitable growth. We expect the growth to accelerate this year, in the longer-term stronger growth requires pull from other Nordic countries.

Innofactor Plc insider information on May 20, 2021 at 15.50 Finnish time