EAB Group Plc´s full year 2020 net result positive

EAB Group Plc, Inside Information, Stock Exchange Release, 13 December 2020, 5:40 p.m. (EET)

EAB Group Plc´s full year 2020 net result positive

EAB Group Plc (EAB, Company) gives preliminary information on the full year 2020 net result. Due to savings measures taken and the growth in comparable sales, the net result for July-December 2020 is anticipated to be fairly positive, making the full year 2020 net result slightly positive.

When communicating the half-year financial report on 28 August 2020, EAB refrained from giving a forecast regarding the development of its turnover and net result as these are very much dependent on external factors. In addition, it was announced that according to its strategy, EAB will continue to cut total expenses in H2/2020 from H1/2020 level. According to the Company's current forecast, the total expenses for the second half of the year are lower than those for the first half of the year. The lower costs are a result of permanent and temporary savings in personnel costs as well as the restrictions imposed by the Covid-19 pandemic. Comparable net sales in the second half of the year have grown both as a result of the increase in global stock prices and overall new sales.

The company will communicate its financial outlook for 2021 in connection with the 2020 financial statement release on 12 February 2021.

Board of Directors

Further information:

EAB Group Plc

Daniel Pasternack, CEO
+358 50 569 3416

Therese Cedercreutz, Chairman of the Board
+358 40 544 2502

Elite Alfred Berg offers responsible investment and asset management services for private investors, institutions and professional investors. Elite Alfred Berg is the marketing name of the EAB Group. The Group's parent company EAB Group Plc’s shares are listed on the Nasdaq Helsinki stock exchange. The Group companies include EAB Asset Management Ltd, which offers asset management activities, and EAB Fund Management Ltd, which acts as a fund company and authorised alternative investment fund manager. The Group’s customer base consists of individuals and corporations that are served nationwide in 13 different locations. The Group employs 86 investment professionals, and more than 20 tied agents provide its services. On behalf of its clients, the Group manages assets of EUR 3 billion. Explore EAB Group’s services at www.eabgroup.fi.

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