Investors House: One-offs burdened Q1 – 2023 guidance reiterated - Nordea

Investors House reported Q1 2023 revenue of EUR 1.7m, 13% below our estimate, and net operating income (NOI) of EUR 0.1m, clearly below our EUR 0.7m forecast, as several one-offs (EUR -0.4m total) burdened the results. Reported earnings were EUR -0.2m, down from EUR 0.2m in Q1 2022, with the the one-offs explaining the y/y change. The share of revenue from Services was 48%. Investors House has initiated several earnings-enhancing measures, including searching for new growth investments to increase recurring revenue as well as cost measures. The company is still waiting for the market to stabilise before making new investments and will closely monitor acquisition opportunities to enhance its return on capital. Marketing material commissioned by Investors House.

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