Brief: Fingerprint Cards Says Cost Saving Measures With Full Effect From H2 2024

Fingerprint Cards AB

19/10/2023 06:10

Oct 19 (Reuters) - Fingerprint Cards AB  FINGb.ST :
    * WE EXPECT SITUATION IN MOBILE TO IMPROVE ONCE INVENTORY
LEVELS
NORMALIZE
    * GLOBAL MARKET FOR BIOMETRIC SOLUTIONS IS LARGE AND GROWING
    * CHALLENGING MARKET CONDITIONS ARE IMPACTING GROSS MARGIN
    * INITIATING PLAN TO IMPLEMENT RESTRUCTURING MEASURES
EXPECTED TO
YIELD COST SAVINGS OF APPROXIMATELY SEK 204 M
    * COST SAVING MEASURES WITH FULL EFFECT FROM SECOND HALF OF
2024
    * RESTRUCTURING COSTS ESTIMATED AT SEK 62 M, HALF WILL BE
RECORDED
IN Q4 OF 2023, AND REST IN 2024

Source text for Eikon:  ID:nGNE7kxT9W 
Further company coverage:  FINGb.ST 

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