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Telenom Plc Stock Exchange Release 8 July 2021 at 12.45 p.m. EEST

·3-min read

Talenom executes its growth strategy by acquiring the accounting firm YOUnited Professionals in Sweden and expands to Nyköping

Talenom Plc has agreed to acquire the accounting firm YOUnited Professionals in Nyköping, Sweden. With this acquisition, Talenom further bolsters its position in the Swedish market and expands its operations to a new municipality, Nyköping.

The net sales of the acquiree in the 7/2020–6/2021 period amounted to around 1.2 million euros (preceding 12-month comparison period: 1.2 million euros) and its operating profit to about 0.3 million euros (preceding 12-month comparison period: 0.2 million euros). The acquisition also supports Talenom’s organic growth in Södermanland, southwest of Stockholm.

The acquired business will be transferred to Talenom on 1 September 2021 and its financial impact on Talenom’s 2021 figures will remain with the current guidance. The transaction will be carried out by acquiring the entire share capital of the company with cash and new Talenom Plc shares subscribed for in a directed share issue. The purchase price is 1.3 million euros, of which EUR 0.9 million will be paid in cash and EUR 0.4 million in shares. Additional purchase prices of up to 0.2 million euros may be paid if operational and financial targets are reached.

“I’m truly pleased that YOUnited Professionals Nyköping AB will bolster our growth in Sweden. Our position in the Swedish accounting market is becoming stronger all the time – and it’s excellent that our team is gaining strong expertise in the payroll business. I warmly welcome this new accounting firm to Talenom,” says Otto-Pekka Huhtala, CEO of Talenom.

“YOUnited Professionals Nyköping is a very high-quality firm that brings together a customer-focused approach, process thinking and the ability to engage in business with productised service concepts. Their specialist expertise in the payroll business complements the strengths of our Swedish organisation extremely well,” says Tuomas Iivanainen, Director, International Business at Talenom.

The financial information on acquiree:

1,000 euros

YOUnited Professionals

Unaudited

Audited

Results

7/20-6/21

7/19-6/20

Net sales

1.195

1.243

Operating profit

259

202

Opening balance sheet of the transferring company, estimate

1.9.2021

Goodwill and other intangible assets

99

Other Assets

266

Total assets

365

Equity

15

Non-current liabilities

0

Current liabilities

349

Total shareholders’ equity and liabilities

365

Number of employees

14

The figures have been converted from Swedish krona into euros by applying the rate on 6 July 2021 (EUR 1 = SEK 10.14).

The 27,036 new shares subscribed for in the directed share issue related to the transaction will be registered in the Trade Register on or about 6 September 2021. The total number of Talenom Plc shares is 43,790,252 shares following the registration of the new shares. The number of new shares to be issued corresponds to around 0.06 per cent of all Talenom Plc shares before the issue. The new shares shall give shareholders rights from the date of their registration. The shares issued in the share issue will later be admitted to trading on the stock exchange list of Nasdaq Helsinki Oy.

TALENOM PLC
BOARD OF DIRECTORS

Further information:
Otto-Pekka Huhtala
CEO, Talenom Plc
tel. +358 40 703 8554
otto-pekka.huhtala@talenom.fi

Talenom is an agile and progressive accounting firm established in 1972. Our business idea is to make day-to-day life easier for entrepreneurs with the easiest-to-use digital tools on the market and highly automated services. In addition to comprehensive accounting services, we support our customers’ business with a wide range of expert services as well as financing and banking services. Our vision is to provide unbeatable accounting and banking services for SMEs.

Talenom has a history of strong growth – the average annual increase in net sales was approximately 15.5% between 2005 and 2020. At the end of 2020, Talenom had 912 employees in Finland and Sweden at a total of 47 locations. Talenom’s share is quoted on the main list of the Helsinki Stock Exchange.

DISTRIBUTION:
Nasdaq Helsinki
Main media
www.talenom.fi


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