DIGITALIST GROUP PLCBoard of Directors Further information:Digitalist Group PlcCEO Magnus Leijonborg, tel.+46 76 315 8422, magnus.leijonborg@digitalistgroup.comChairman of the Board Esa Matikainen, tel.+358 40 506 0080, esa.matikainen@digitalistgroup.com Distribution:NASDAQ Helsinki Key media DIGITALIST GROUP SUMMARY OF THE FINANCIAL STATEMENTS AND NOTES, 1 JANUARY–31 DECEMBER 2024 CONSOLIDATED INCOME STATEMENT, EUR THOUSAND 1 Oct - 31 Dec 241 Oct - 31 Dec 23Change (%)1 Jan - 31 Dec 241 Jan - 31 Dec 23Change (%)Turnover4,698.854,160.2212,9 %16,164.5416,680.74-3,1 %Other operating income-41.02280.21-114,6 %50.001,006.67-95,0 % Materials and services-932.52-639.82-45,7 %-3,102.99-3,202.013,1 %Expenses from employee benefits-3,251.70-3,331.272,4 %-11,874.22-12,269.023,2 %Depreciation and impairment -132.28-218.1439,4 %-469.53-834.4143,7 %Other operating expenses-673.33-848.5720,7 %-2,750.27-3,077.6710,6 %Total expenses-4,989.83-5,037.801,0 %-18,197.01-19,383.116,1 % EBIT-331.99-597.3744,4 %-1,982.47-1,695.70-16,9 % Financial income78.274.171779,2 %155.41752.50-79,3 %Financial expenses-695.08-1,021.7232,0 %-3,103.37-3,026.21-2,5 %Total financial income and expenses-616.81-1,017.5539,4 %-2,947.96-2,273.71-29,7 % Profit before taxes-948.80-1,614.9241,2 %-4,930.43-3,969.41-24,2 %Income taxes-50.82-3.87-1214,3 %-87.04-115.4624,6 %PROFIT/LOSS FOR FINANCIAL PERIOD-999.62-1,618.7838,2 %-5,017.47-4,084.87-22,8 % Distribution: Parent company shareholders-875.12-1,557.6443,8 %-4,707.38-4,042.14-16,5 %Non-controlling interests-124.50-61.15-103,6 %-310.09-42.73-625,8 %Earnings per share: Undiluted (EUR)0.000.00 -0.01-0.01 Diluted (EUR)0.000.00 -0.01-0.01 COMPREHENSIVE INCOME STATEMENT, EUR THOUSAND 1 Oct - 31 Dec 241 Oct - 31 Dec 23Change (%)1 Jan - 31 Dec 241 Jan - 31 Dec 23Change (%)Profit/loss for the financial period-999.62-1,618.7838,2%-5,017.47-4,084.87-22,8%Other items of comprehensive income Translation difference-140.67663.20-121,2%-67.99229.71-129,6%TOTAL COMPREHENSIVE INCOME FOR THE YEAR-1,140.29-955.58-19,3%-5,085.47-3,855.45-31,9%Parent company shareholders-1,006.68-869.23-15,8%-4,759.00-3,807.09-25,0%Non-controlling interests-133.61-86.35-54,7%-327.00-48.06-580,4% CONSOLIDATED BALANCE SHEET, EUR THOUSAND ASSETS31 December 202431 December 2023NON-CURRENT ASSETS Intangible assets313.78422.06Goodwill5,244.985,444.44Tangible assets569.43916.99Buildings and structures, rights-of-use528.59867.73Machinery and equipment27.5534.52Other tangible assets13.2914.74Investments6.236.28Other non-current financial assets88.0224.35NON-CURRENT ASSETS6,222.446,814.12 CURRENT ASSETS Trade and other receivables2,612.343,508.10Income tax asset320.88228.46Cash and cash equivalents943.53893.65CURRENT ASSETS3,876.754,630.21ASSETS10,099.1911,444.12 SHAREHOLDERS’ EQUITY AND LIABILITIES SHAREHOLDERS’ EQUITY Parent company shareholders Share capital585.39585.39Share premium account218.73218.73Invested non-restricted equity fund73,916.7873,916.78Retained earnings -107,368.76-103,343.29Profit/loss for the financial period-4,707.38-4,042.14Non-controlling interests-311.28-53.08Parent company shareholders-37,355.24-32,664.53SHAREHOLDERS’ EQUITY-37,666.53-32,717.43NON-CURRENT LIABILITIES25,438.083,748.88CURRENT LIABILITIES22,327.7340,412.84SHAREHOLDERS’ EQUITY AND LIABILITIES10,099.2911,444.28 CALCULATION OF CHANGES IN CONSOLIDATED SHAREHOLDERS’ EQUITY, EUR THOUSANDA: Share capitalB: Share premium accountC: Invested unrestricted equity fundD: Translation differenceE: Retained earningsF: Total shareholders’ equity attributable to the parent company’sG: Non-controlling interestsH: Total shareholders’ equity ABCDEFGHShareholders’ equity 1 Jan 2023585.39218.7373,662.55-1,197.92-104,545.23-31,276.47503.13-30,773.34Other changes Profit/loss for the financial period -4,042.14-4,042.14-42.73-4,084.87Purchase of own shares 235.05 235.05-5.33229.72Other items of comprehensive income -3,807.09 Paid in capital 253.98 253.98 253.98Translation difference 176.44176.44 176.44Share-based remuneration 0.000.00 0.00Transactions with non-controlling interests -508.151,480.52Shareholders’ equity 31 December 2023585.00219.0073,916.78-1,192.36-106,192.89-32,664.35-53.08-32,717.43 ABCDEFGHShareholders’ equity 1 Jan 2024585.00219.0073,916.78-1,192.36-106,192.89-32,664.35-53.08-32,717.43Other changes 0.000.00 Profit/loss for the financial period -4,707.38-4,707.38-310.09-5,017.47Purchase of own shares -51.33 -51.33-16.66-67.99Other items of comprehensive income -4,758.71 Translation difference 54.2354.23 54.23Share-based remuneration -14.40-14.40 -14.40Sale of subsidiary 13.8113.81 13.81Transactions with non-controlling interests 14.1814.1868.5582.73Shareholders’ equity 31 December 2024585.00219.0073,916.78-1,243.69-110,832.45-37,355.23-311.29-37,666.52 CONSOLIDATED CASH FLOW STATEMENT, EUR THOUSAND 1 Jan - 31 Dec 241 Jan - 31 Dec 231 Jul - 31 Dec 241 Jul - 31 Dec 23Cash flow from operations Earnings before taxes in the period-5,017.47-4,084.87-2,461.65-2,094.96Adjustments to cash flow from operations: Other income and expenses with no payment -235.55-76.63-261.44-174.25Depreciation, impairment469.53834.41265.81417.90Income taxes87.04115.4642.1631.37Unrealised foreign exchange gains and losses-85.26-255.59124.47-296.11Financial income and expenses3,057.582,273.711,655.671,704.54Other adjustments4.81-561.903.25-576.30Cash flow financing before changes in working capital-1,719.32-1,755.41-631.73-987.82 Change in working capital1,290.45-262.04936.75-313.93Interest received47.370.7210.043.07Interest paid-883.89-710.82-395.39-333.90Taxes paid-133.04-149.35-40.34-46.81Net cash flow from operations-1,398.42-2,876.89-120.68-1,679.39 Cash flow from investments Acquisition of shares in group companies0.00 0.00 Proceeds from disposal of shares in group companies 0.00 0.00 Investments in tangible and intangible assets-15.42-22.33-6.49-9.95Proceeds from repayment of loans0.00 Interest received on investments0.00 Taxes paid on investments0.00 Cash flow from investments-15.422,447.66-6.491,049.09 Net cash flow before financial items-1,413.84-429.23-127.18-630.30 Cash flow from financing activities Transactions with non-controlling interests19.53136.18-6.25-12.17Drawdown of long-term loans2,025.00750.001,275.00750.00Drawdown of short-term loans0.00736.90-212.58 Repayment of short-term loans-129.07 -105.31-1.81Repayment of lease liabilities-429.40-697.51-184.02-354.56Net cash flow from financing1,486.06423.76766.83441.83 Change in cash and cash equivalents72.22-5.46639.66-188.47Liquid assets, beginning of period893.44898.55308.061,041.04Impact of changes in exchange rates-22.140.36-4.2040.88Liquid assets, end of period943.53893.44943.53893.44 Accounting principles This release has been prepared in accordance with IAS 34 – Interim Financial Reporting.
January–December 2024 (comparable figures for 2023 in parentheses): Turnover: EUR 16.2 million (EUR 16.7 million), change -3.1%. EBITDA: EUR -1.5 million (EUR -0.9 million**), -9.4% of turnover (-5.2%). EBIT: EUR -2.0 million (EUR -1.7 million**), -12.3% of turnover (-10.2%). Net income: EUR -5.0 million (EUR -4.1 million**), -31.0% of turnover (-24.5%). Earnings per share: EUR -0.01 (EUR -0.01). Earnings per share (diluted): EUR -0.01 (EUR -0.01). Cash flow from operations EUR -1.4 million (EUR -2.9 million). Number of employees at the end of the review period: 122 (126), decrease of 3.2%.*) EBIT, EBITDA, and net income for the comparison period were affected by a recorded gain of EUR 0.3 million, resulting from the write-down of Turret accounts payable and an additional purchase price related to the Ticknovate divestment.**) EBIT, EBITDA, and net income for the period were affected by a one-time gain of EUR 1.0 million, which includes a recorded gain of EUR 0.6 million from the FutureLab Share transaction, EUR 0.3 million from the write-down of Turret accounts payable and an additional purchase price adjustment related to the Ticknovate divestment.
Strengthening Digitalist Group Plc's balance sheet position and conversion of convertible bonds 2021/1, 2021/2, 2021/3 and 2021/4 into capital loans Digitalist Group Plc decided 30.12.2024, in order to strengthen the Company's balance sheet position, to utilize the right offered by Turret Oy Ab and Holdix Oy Ab to convert a total of 3,860,763.40 + interest 861,271.93 euros of the principal and interest of the convertible bonds 2012/1, 2021/2, 2021/3 and 2021/4 subscribed by Turret and Holdix into a capital loan in accordance with Chapter 12 of the Limited Liability Companies Act.
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