Brief: Enento Announces EUR 8 Mln Efficiency Program

Enento Oyj

26/01/2023 07:04

Jan 26 (Reuters) - Enento Group Plc  ENENTO.HE :
    * REG-ENENTO GROUP ANNOUNCES AN 8-MILLION-EURO ANNUALIZED
EFFICIENCY PROGRAM, WRITE-DOWNS OF PLATFORM DEVELOPMENT
INVESTMENTS AND CONFIRMS GUIDANCE FOR 2022, LONG-TERM FINANCIAL
TARGETS
    * EFFICIENCY PROGRAM TARGETS EUR 8 MILLION IN ANNUAL
EFFICIENCIES
BY 2025
    * EFFICIENCY PROGRAM CONSISTS OF STRATEGIC AND OPERATIONAL
INITIATIVES TO IMPROVE PROFITABILITY IN ACCORDANCE WITH
COMPANY'S LONG-TERM FINANCIAL TARGETS
    * LONG-TERM FINANCIAL TARGETS OF ENENTO GROUP REMAIN INTACT
    * ALSO CONFIRMS OUTLOOK AND GUIDANCE FOR 2022, ANNOUNCED ON
28
APRIL 2022
    * FULL AMOUNT OF ESTIMATED BENEFITS WILL BE REALIZED IN FREE
CASH
FLOW FROM 2025 ONWARDS
    * DECIDED TO WRITE-DOWN PARTIALLY PLATFORM DEVELOPMENT
INVESTMENTS, RESULTING IN A ONE-TIME NEGATIVE IMPACT OF
APPROXIMATELY EUR 10 MILLION ON COMPANY'S OPERATING PROFIT OF
2022
    * WRITE-DOWN WILL IMPACT LAST QUARTER OF 2022

Source text for Eikon:  ID:nGNE9MxHzT 
Further company coverage:  ENENTO.HE 
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