Enfo IT Services profitable in 2023 .

Enfo Oy’s main owner KPY published the financial statement bulletin (in Finnish) on April 9, 2024. The revenue for the financial year of the Enfo Group was 98,7 (98,7) million euros and operating profit of the Enfo Group was -1,2 (-7,0) million euros. The operating profit of the Enfo Group for the financial year, excluding sales profits/losses related to corporate arrangements and one-time impairments of assets, was 2,7 (-5,2) million euros. Of this, the share of Epical consulting business, was -4,7 million euros and the share of IT services business was 2,4 million euros. The remaining part of the operating profit, about -0,5 million euros, represents costs for the entire group that have not been allocated to the business units. Businesses have been reported separately in their current form since the beginning of the 2023 financial year. For this reason, comparable data cannot be published.

The IT services business remained profitable during the financial year. The profitability challenges of the Enfo Group are due to the consulting business. In addition, one-time costs related to the separation of consulting and IT services business have affected the profitability of the Enfo Group.

Enfo IT Services EVP, Nina Annila, recalls that IT services executed several new customer IT outsourcing transition projects during the past year, and the initiation of service invoicing of those focused on the second half of 2023. Cooperation with current customers is close-knit, and several extension agreements were also achieved during the year. Enfo increased the strength of specialist personnel during the year to respond to increased service and work volumes, and customer experience metrics showed that customer satisfaction remained strong.

The development and growth opportunities of Enfo’s IT services are related to the cost-effective development and growth of basic services alongside customers and the development of customers’ IT environments. For example, cloud migration, managed centralization of server platforms, and security are still topical. In addition, end-user services produced for customer companies’ employees are seen as an essential part of a functioning IT work environment and a modern successful employee experience.