TELESTE OYJ Interim report
January - March 2024
Esa Harju, CEO
Juha Hyytiäinen, CFO
Company restricted
Disclaimer
This presentation has been prepared by the Company. The information on which it is based has not been independently verified by any other person.
This presentation is not intended to provide the basis of any investment decision and should not be considered as a recommendation by the Company or any other person to the recipients of the presentation. Each person should make his/her own independent assessment of the Company after making such investigations as he/she deems necessary. This presentation does not constitute an offer of or invitation to acquire any shares or other securities in the Company.
Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future.
Company restricted
Teleste Business Units
Broadband Networks
Products, solutions and advanced services for the broadband network operators.
Public Safety and Mobility
Products and solutions to the public transport operators, rolling stock manufacturers and to the public security sector.
Company restricted
Our businesses and customers
Broadband Networks | Public Safety and Mobility |
Geographic distribution | Geographic distribution |
of turnover | of turnover |
Our customers serve | In public transportation | |||||
100 million | 1.5 billion | |||||
Internet-users | passengers using our technology | |||||
Finland | Other nordic countries | Finland | Other nordic countries | annually | ||
Other Europe | Other countries | |||||
Other Europe | Other countries | |||||
Company restricted |
Corporate responsibility
Gold medal in Ecovadis | Reduction targets 2030 for Scope 1, |
business sustainability rating | Scope 2 and transportation |
greenhouse gas emissions |
Share of EU taxonomy eligible | Diversity target 1) |
business (% of turnover) | for the Board of Directors |
36 % | 40 % |
Company restricted
1) Proportion of underrepresented gender on the board in 2025..
Q1 2024 highlights
Q1 2024 financial review
Company restricted
Key Figures Q1 2024
NET SALES DECREASED. ADJUSTED EBIT IMPROVED. CASH FLOW FROM OPERATIONS INCREASED.
EUR million | Q1 2024 | Q1 2023 | 1-12 2023 | |
Net sales | 36.6 | 45.3 | -19 % | 151.3 |
Adjusted EBITDA | 3.1 | 2.9 | +4 % | 7.2 |
Adjusted EBIT | 1.5 | 1.5 | +6 % | 1.2 |
EBIT | -0.4 | 1.2 | >-100 % | -0.5 |
Cashflow from operations | 7.3 | 2.0 | >+100 % | 10.8 |
Orders received | 30.5 | 40.8 | -25 % | 149.6 |
Order book | 124.3 | 127.6 | -3 % | 130.4 |
Company restricted
Orders received Q1 2024
Orders received decreased driven by Broadband Networks
Orders received
EUR million 250
200 188,5
Q4 | ||||||||||||||||||
150 | 149,6 | |||||||||||||||||
Q3 | ||||||||||||||||||
100 | ||||||||||||||||||
Q2 | ||||||||||||||||||
Q1 | ||||||||||||||||||
50 | 30,5 | |||||||||||||||||
59,9 | ||||||||||||||||||
40,8 | ||||||||||||||||||
30,5 | ||||||||||||||||||
0 | ||||||||||||||||||
2022 | 2023 | 2024 |
- Broadband Networks orders decreased 49% year-on-year.
- Demand for HFC products decreased significantly in Europe. Demand for DAA products remained low and did not compensate for the decline in HFC access network products.
- Broadband Networks orders from North American customers were still moderate.
Orders received by business, Q1 2024
Broadband | |
Public Safety | Networks |
52% | |
and Mobility | |
48% |
- Public Safety and Mobility orders increased 52% year-on-year.
- The growth included follow-up orders related to the delivery of rolling stock projects.
- A sizable order was received from Poland in the maintenance business concerning the life cycle extension of a system.
Company restricted
Order book 31 March 2024
Order book decreased in Broadband Networks
Order book (end of the period)
EUR million
160 | 139 | 145 | 132 128 | |||||||||
140 | 131 | 129 130 | 124 | |||||||||
118 | ||||||||||||
120 | ||||||||||||
100 | ||||||||||||
80 | ||||||||||||
60 | ||||||||||||
40 | ||||||||||||
20 | ||||||||||||
0 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 |
2022 | 2022 | 2022 | 2022 | 2023 | 2023 | 2023 | 2023 | 2024 | 2024 | 2024 | 2024 |
- Order backlog of the Group decreased 2.6% year-on-year.
- Approximately 41% of the deliveries in the order backlog are scheduled to take place during the 2024.
Order book by business, 31 March 2024
Broadband
Networks
17%
Public Safety
and Mobility
83%
- Broadband Networks order book decreased 36%. The decrease was due to large deliveries of amplifier products and passive products in the European market and the weak accumulation of new orders in Q1.
- Public Safety and Mobility order book increased 9% due to growth in orders from Rolling Stock Manufacturers. Order book is scheduled over several years.
Net Sales Q1 2024
Net sales decreased Y-o-Y, but increased Q-o-Q.
Net sales | Net sales, Q1 2024 | |||||||||||||
EUR million | ||||||||||||||
50 | Public Safety | |||||||||||||
45,3 | and Mobility | |||||||||||||
45 | 37% | |||||||||||||
(33%) | Broadband | |||||||||||||
40 | 38,0 | |||||||||||||
36,6 | Networks | |||||||||||||
35 | 63% | |||||||||||||
(67%) | ||||||||||||||
30 | ||||||||||||||
25 | Other | Finland | ||||||||||||
20 | countries | 8 % | ||||||||||||
7 % | Other Nordic | |||||||||||||
15 | countries | |||||||||||||
9 % | ||||||||||||||
10 | ||||||||||||||
5 | ||||||||||||||
0 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Rest of Europe | |
76 % | ||||||||||||||
2022 | 2022 | 2022 | 2022 | 2023 | 2023 | 2023 | 2023 | 2024 | 2024 | 2024 | 2024 |
Company restricted
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Disclaimer
Teleste Oyj published this content on 03 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2024 09:06:01 UTC.
