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6/27/23 , 10:16 AM Print - DOVRE GROUP TRADING STATEMENT JANUARY 1 – MARCH 31 , 2021 Dovre's Q1 net sales lower with improved operatin … Dovre GROUP Source : Dovre Group Oyj April 28 , 2021 01:45 ET DOVRE GROUP TRADING STATEMENT JANUARY 1 - MARCH 31 , 2021 Dovre's Q1 net sales lower with improved operating profit year - on - year – raises quidance Dovre Group Plc Stock exchange release DOVRE GROUP TRADING STATEMENT JANUARY 1 - MARCH 31 , 2021 Dovre's Q1 net sales lower with improved operating profit year - on - year - raises quidance ● April 28 , 2021 at 8.45 a.m. Dovre Group Plc issues today a trading statement for the three months ended on March 31 , 2021. The figures presented in this trading statement are not audited . Last year's corresponding period in parentheses . January - March 2021 • Net sales EUR 19.7 ( 23.6 ) million - decrease -16.6 % o Project Personnel : net sales EUR 15.4 ( 19.4 ) million - decrease -20.3 % o Consulting : net sales EUR 4.3 ( 4.2 ) million - increase 0.5 % Operating result EUR 0.8 ( 0.7 ) million – increase 19.3 % . Net cash flow from operating activities EUR 0.5 ( -1.3 ) million • Dovre Group strengthened its renewable energy expertise by acquiring 51 % of Suvic Oy , a Finnish windmill park construction and construction design company , on March 31 , 2021 . New Outlook for 2021 Dovre Group's net sales in 2021 is expected to be more than EUR 110 million ( 2020 : 77 million ) and the operating profit ( EBIT ) is expected to be more than EUR 3.5 million ( 2020 : 2.4 ) . Previous guidance ( published March 31 , 2021 ) : Dovre Group's net sales in 2021 is expected to be around EUR 110 million ( 2020 : 77 million ) and the operating profit ( EBIT ) is expected to be more than EUR 3 million ( 2020 : 2.4 ) . ARVE JENSEN , CEO : Our business performed according to our expectations in the first quarter of the year . Our profitability improved despite of our sales being down year - on - year mainly due to the lower headcount after the COVID - 19 breakout . Dovre's positive growth trend , which started in H2 2020 , continued during the quarter and we have now reached back to the same headcount level that we had before the COVID - 19 pandemic . The key for us now is to keep our cost levels down while ensuring capacity to grow . Singapore has had the strongest headcount growth , followed by the Norway units . Consulting in Norway has also had a very active start of the year with several large consulting projects for public sector . The operations in other units have been stable in Q1 . https : //www.globenewswire.com/news-release/2021/04/28/2218264/0/en/DOVRE-GROUP-TRADING-STATEMENT-JANUARY-1-MARCH-31-2021-Dovre-s ... 1/4