Wulff’s profit and turnover improved as expected

Providing workplace products and services Wulff Companies told about his results for July–September.

The company’s turnover for the quarter was 26.2 million euros and the comparable operating result was 0.8 million euros.

A year ago, in the same period, the company made a comparable result of 0.6 million euros with a turnover of 21.2 million euros.

The only analysis company following the company, Inderes, predicted a turnover of 25.4 million euros and an operating profit of 0.8 million euros for the quarter.

Wulff’s EBITDA increased to 1.4 million euros from 0.8 million euros. The company’s profit per share in the quarter was 0.04 euros, while it was 0.02 euros per share in the comparison period.

The company kept its earnings guidance unchanged. Wulff estimates that the turnover will increase and the comparable operating profit will remain at a good level in 2024.

“Wulff has had a strong third quarter, even though the market conditions in Finland and Scandinavia have been challenging,” the company’s CEO Elina Rahkonen says in the results release.

“July-September operating profit increased from last year in both business segments. The July-September net sales of the Working life services segment increased significantly from last year. The new Wulff Works staffing business was profitable in the third quarter. The operating profit of Wulff’s accountancy services increased fivefold from last year thanks to acquisitions and organic growth. The profitability of accounting services is at a good level and the development is stable.”

The profitability of the Products for working environments segment also improved in the third quarter. According to Rahkonen, the organizational reforms implemented earlier in Finland have made operations more efficient.