Brief: Asiakastieto Group Q3 Adjusted EBITDA Up At EUR 14.0 Million

Enento Oyj

07/11/2019 09:12

Nov 7 (Reuters) - Asiakastieto Group Plc  ATG1V.HE :
    * REG-ASIAKASTIETO GROUP’S INTERIM REPORT 1.1. – 30.9.2019:
STRONG
GROWTH DRIVEN BY THE CONSUMER BUSINESS
    * Q3 NET SALES EUR 36.7 MILLION VERSUS EUR 31.4 MILLION YEAR
AGO
    * Q3 ADJUSTED EBITDA EXCLUDING ITEMS AFFECTING COMPARABILITY
WAS
EUR 14,0 MILLION (EUR 10,9 MILLION), AN INCREASE OF 28,6 % (AT
COMPARABLE EXCHANGE RATES AN INCREASE OF 29,8 %).
    * ASIAKASTIETO GROUP EXPECTS ITS ADJUSTED EBITDA, EXCLUDING
EFFECT
OF IFRS 16 TRANSITION, TO GROW IN 2019 AT A PERCENTAGE RATE THAT
EXCEEDS RATE OF NET SALES GROWTH COMPARED TO PREVIOUS YEAR'S PRO
FORMA ADJUSTED EBITDA
    * EXPECTS NET SALES GROWTH IN 2019 TO BE IN MIDDLE OF RANGE
OF ITS
LONG-TERM TARGET (5-10 %) COMPARED TO PREVIOUS YEAR'S PRO FORMA
NET SALES.
    * ASIAKASTIETO GROUP EXPECTS ITS CAPITALISED PRODUCT
DEVELOPMENT
AND SOFTWARE EXPENSES IN 2019 TO EXCEED PREVIOUS YEAR'S LEVEL ON
A PRO FORMA BASIS.
    * GROUP'S NET SALES WERE ACCELERATED BY, AMONG OTHER THINGS,
STRONG GROWTH OF B2C CONSUMER BUSINESS AND COMPLETION OF PROFF
ACQUISITION ON 1 JULY 2019
    * INCREASE IN EBITDA WAS ATTRIBUTABLE TO, AMONG OTHER
THINGS,
COST-EFFICIENCIES DERIVED FROM SYNERGIES, OUR SCALABLE BUSINESS
MODEL AND EFFECT OF PROFF ACQUISITION

Source text for Eikon:  ID:nGNEc1kG9j 
Further company coverage:  ATG1V.HE 

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