Dovre Group calculates operating profit guidance

Consulting company Dovre Group issued a negative earnings warning on Monday.

The turnover of the company’s remaining businesses in 2024 is expected to be between 88 and 93 million euros, and the operating result (EBIT) is expected to be between -13 and -15 million euros. The previous EBIT guidance was between -5 and -6 million euros.

On 20 November 2024, Dovre announced the sale of its Project Personnel business (PP) and Norwegian Consulting business to the Swedish NYAB AB. The turnover of Dovre Group’s remaining businesses in 2024 was estimated to be between 88-93 million euros. The company still kept the turnover guidelines unchanged.

The reason for the decreased guidance is the weakened profitability in some of the projects of the Suvic sub-group of the Renewable Energy segment.

“Despite enhanced management and operational efforts, some of the work is in progress at the start of winter, which increases costs and slows down the progress of projects. The forecast includes estimated losses until the completion of these projects, and the costs around 2025 are associated with uncertainty,” the company says in a press release.

Dovre Group owns 51 percent of Suvic.