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Corporation
asiakastieto.fi

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Investments

2

Portfolio Exits

1

Partners & Customers

1

About Asiakastieto

Asiakastieto Group is a Finland-based company engaged in the provision of information services. It provides corporate, risk management, and sales and marketing information in Finland, as well as electronic and website services and company and personal information services accessible to all. It maintains a private company information database of Finnish enterprises and their key individuals.

Asiakastieto Headquarter Location

Tyopajankatu 10 A

Helsinki, FI-00580,

Finland

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Latest Asiakastieto News

Enento Group’s Half Year Financial Report 1.1. – 30.6.2020: Asiakastieto’s new brand strengthens its Nordic offering – the business proved its resilience in challenging market environment

Aug 6, 2020

. – 30.6.2020: Asiakastieto’s new brand strengthens its Nordic offering – the business proved its resilience in challenging market environment SUMMARY April – June 2020 in brief Net sales amounted to EUR 36,7 million (EUR 35,6 million), an increase of 3,3 % (at comparable exchange rates an increase of 3,4 %). Adjusted EBITDA excluding items affecting comparability was EUR 12,5 million (EUR 12,2 million), an increase of 2,1 % (at comparable exchange rates an increase of 2,3 %). Adjusted EBIT excluding items affecting comparability and amortisation from fair value adjustments related to acquisitions was EUR 10,2 million (EUR 9,2 million), an increase of 11,2 %. Operating profit (EBIT) was EUR 5,4 million (EUR 5,0 million). Operating profit included items affecting comparability of EUR 4,8 million (EUR 4,1 million), mainly arising from amortisation from fair value adjustments of EUR 3,0 million (EUR 2,7 million) related to acquisitions as well as M&A and integration expenses. New products and services represented 4,9 % (4,0 %) of net sales. Free cash flow amounted to EUR 5,2 million (EUR 5,3 million). The effect of items affecting comparability on free cash flow was EUR -1,3 million (EUR -0,5 million). Earnings per share were EUR 0,15 (EUR 0,15). Comparable earnings per share were EUR 0,25 (EUR 0,24)1. Enento Group updated its guidance on 6 August 2020. January – June 2020 in brief Net sales amounted to EUR 74,4 million (EUR 70,1 million), an increase of 6,1 % (at comparable exchange rates an increase of 6,9 %). Adjusted EBITDA excluding items affecting comparability was EUR 24,9 million (EUR 24,0 million), an increase of 3,8 % (at comparable exchange rates an increase of 4,5 %). Adjusted EBIT excluding items affecting comparability and amortisation from fair value adjustments related to acquisitions was EUR 20,6 million (EUR 19,0 million), an increase of 8,7 %. Operating profit (EBIT) was EUR 12,5 million (EUR 11,7 million). Operating profit included items affecting comparability of EUR 8,1 million (EUR 7,3 million), mainly arising from amortisation from fair value adjustments of EUR 6,0 million (EUR 5,5 million) related to acquisitions as well as M&A and integration expenses. New products and services represented 4,6 % (4,2 %) of net sales. Free cash flow amounted to EUR 12,5 million (EUR 12,6 million). The effect of items affecting comparability on free cash flow was EUR -1,4 million (EUR -1,2 million). Earnings per share were EUR 0,38 (EUR 0,35). Comparable earnings per share were EUR 0,58 (EUR 0,53)1. 1 The comparable earnings per share does not contain amortisation from fair value adjustments related to the acquisitions or their tax impact. KEY FIGURES FUTURE OUTLOOK Net sales: Enento Group expects its net sales to grow in full year 2020, the growth rate however remaining below the long-term target range of 5–10 %. EBITDA: Enento Group expects its adjusted EBITDA margin in full year 2020 to remain at the previous year’s level. Capital expenditure: Enento Group expects its capitalised product development and software expenses in full year 2020 to be at the previous year’s level. The outlook is based on the assumption that exchange rates remain at the current level. JUKKA RUUSKA, CEO Asiakastieto Group is now Enento Group. The Group has a long history, with its roots going all the way back to 1905. Through acquisitions, the company has grown from a local operator to one of the leading companies specialising in digital business and consumer information services in the Nordic region, with EUR 146 million in net sales in 2019 and 420 employees in eight cities in Finland, Sweden, Norway and Denmark. Enento Group brings together the strengths of Asiakastieto, UC and Proff and helps build trust in daily life. The change of name supports our goals of continuing growth, increasing our service offering in the Nordic region and creating a foundation for strengthening our Nordic presence. The new name makes us an even more cohesive and stronger Nordic operator. Thanks to our business model – which adapts to exceptional circumstances – and the quick action we have taken, our business has adapted fairly well to the diverse impacts of the coronavirus pandemic. Net sales in the second quarter continued to grow in spite of the pandemic and amounted to EUR 36,7 million, representing year-on-year growth of 3,4 % at comparable exchange rates. The development of the Group’s net sales was particularly influenced by the SME & Consumers business area, where growth was accelerated by the Proff acquisition. The Digital Processes business area grew in both markets. In the Finnish market, growth was boosted by the new housing valuation service and the positive development of Compliance services. In the Swedish market, the Tambur housing transaction service contributed to growth. The net sales of the Risk Decisions business area turned to a decline in both markets as the decrease in economic activity reduced the use of our services. The temporary 10 per cent interest rate ceiling on consumer credit introduced due to the coronavirus crisis also reduced demand in the Finnish market. The net sales of the Customer Data Management business area continued to decline in the Swedish market and remained on a par with the previous year in Finland. Adjusted EBITDA increased by 2,3 % at comparable exchange rates and amounted to EUR 12,5 million. The development of profitability lagged behind the growth of net sales due to the Proff business acquired in July 2019 having a diluting effect on the EBITDA margin. The Group’s IT expenses also increased from the previous year. The Group’s adjusted operating profit excluding non-recurring items and other adjustable items grew in the second quarter by 11,6 % and amounted to EUR 10,2 million. The share of net sales represented by new services increased to 4,9 %. Overall, the number of newly launched services was in line with our targets in the second quarter as we continued our determined efforts to provide a service offering that suits customer needs and is continuously developed. In early May, we announced Enento Group’s strategy for 2020–2023. The three main goals for the strategy period are as follows: to retain and strengthen the leading position in the credit information business, to become the number one choice in data-driven business processes as a service, and to become the leader in business information in the Nordic region. We will achieve these goals through service innovation, an organisational structure that corresponds to future challenges and the development of a Nordic IT platform. Our focus areas in future service development will include, for example, the development of Nordic sustainability services and the digitalisation of housing-related processes. The goal for Nordic sustainability services is to develop the sustainability service market and become a leading provider of ESG services with a comprehensive range of sustainability services that are needed by customers for risk management, credit processes and customer management. In the digitalisation of housing-related processes, our focus will be on the development of housing transaction services. The coronavirus pandemic has affected our business starting from the second quarter. In spite of the global efforts to stop the pandemic, we are prepared for the potential prolongation of the exceptional circumstances and have taken proactive measures to secure our business. We are working in accordance with the requirements of the exceptional situation, in all of our functions. In March, we established four coronavirus working groups that assess the prevailing situation from different perspectives. The key actions taken by the coronavirus working groups: 1) People: Starting from mid-March, the employees of all of our offices have worked remotely if their duties allow it. The plans and actions concerning the return to the workplace will be confirmed in August. 2) Business Continuity: Comprehensive business continuity plans have been prepared. Back-up mechanisms and procedures ensure our ability to maintain high-quality operations at all times and in all situations. 3) Customers and offering: We want our services to help our customers through this period and respond to special customer needs arising from the present situation. We have quickly launched services related to the coronavirus situation in the market and increased our financial communication. In the spring, we also began to document additional information about the effects of the coronavirus pandemic on companies’ payment default entries. This way, the credit information provides a more comprehensive picture of the causes and duration of insolvency. 4) Finance: We have secured our business financially by ensuring the Group’s financial sustainability and short-term cash flow. We have also developed various scenarios to understand the potential impacts and various consequences of the situation. NEWS CONFERENCE: WEBCAST AND CONFERENCE CALL Enento Group will hold a webcast for analysts, investors and media in English on Thursday, 6 August 2020 at 2.00 p.m. EEST where CEO Jukka Ruuska and CFO Elina Stråhlman will present the performance and events of the second quarter 2020. You can follow the English webcast and conference call at:

Asiakastieto Investments

2 Investments

Asiakastieto has made 2 investments. Their latest investment was in Aatos as part of their Seed VC on August 8, 2021.

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Asiakastieto Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/11/2021

Seed VC

Aatos

$1.41M

Yes

1

2/19/2016

Corporate Minority

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$99M

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10

Date

8/11/2021

2/19/2016

Round

Seed VC

Corporate Minority

Company

Aatos

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Amount

$1.41M

$99M

New?

Yes

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Co-Investors

Sources

1

10

Asiakastieto Portfolio Exits

1 Portfolio Exit

Asiakastieto has 1 portfolio exit. Their latest portfolio exit was Underhood on September 30, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/30/2019

Acquired

1

Date

9/30/2019

Exit

Acquired

Companies

Valuation

Acquirer

Sources

1

Asiakastieto Acquisitions

4 Acquisitions

Asiakastieto acquired 4 companies. Their latest acquisition was Eniro - Proff on May 20, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

5/20/2019

$991

Acquired Unit

2

4/27/2018

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$991

$99M

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10

9/28/2017

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$991

$99M

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10

8/30/2016

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$99M

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10

Date

5/20/2019

4/27/2018

9/28/2017

8/30/2016

Investment Stage

Companies

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Valuation

$991

$991

$991

Total Funding

$99M

$99M

$99M

Note

Acquired Unit

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Sources

2

10

10

10

Asiakastieto Partners & Customers

1 Partners and customers

Asiakastieto has 1 strategic partners and customers. Asiakastieto recently partnered with Red Hat on May 5, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

5/27/2020

Vendor

Red Hat

United States

Asiakastieto Unlocks Open Banking Innovation with Red Hat

To keep down costs for its customers , Asiakastieto looked for scalable technology with advanced automation capabilities and high availability and chose Red Hat , Inc. OpenShift , the industry 's most comprehensive enterprise Kubernetes platform , as its foundation for containerized applications .

5

Date

5/27/2020

Type

Vendor

Business Partner

Red Hat

Country

United States

News Snippet

Asiakastieto Unlocks Open Banking Innovation with Red Hat

To keep down costs for its customers , Asiakastieto looked for scalable technology with advanced automation capabilities and high availability and chose Red Hat , Inc. OpenShift , the industry 's most comprehensive enterprise Kubernetes platform , as its foundation for containerized applications .

Sources

5

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