Brief: Modelon Q1 Operating EBIT Loss Widens To SEK 6.7 Mln
31/05/2021 07:05
May 31 (Reuters) - Modelon AB (publ) MODELb.ST :
* MODELON AB INTERIM REPORT Q1 2021
* Q1 NET REVENUE IS 20.6 MSEK (28.6)
* Q1 OPERATING EBIT IS -6.7 MSEK (-1.6)
* Q1 OF 2021 CONTINUES TREND OF RESTORATION OF SIMULATION &
ANALYSIS MARKET FROM PANDEMIC EFFECTS AND WE SEE GOOD MOMENTUM
IN OUR SOFTWARE BUSINESS WITH STRONG ORDER INTAKE IN PERIOD
* THIS MOMENTUM IS ALSO MANIFESTING IN OUR PIPELINE WHICH
SHOWS
STEADY GROWTH IN QUALIFIED LEADS FOR MODELON IMPACT.
* FROM MIDDLE OF Q2, WE EXPERIENCE AN INCREASED SLOW-DOWN IN
THIS
PROJECT COMPARED TO PREVIOUS ESTIMATES, WITH EXPECTED LOW
ACTIVITY LEVEL IN SECOND HALF OF 2021
* CONTRIBUTION TO FULL YEAR SERVICES REVENUES NOW IS
ESTIMATED TO
DECREASE BY 30 - 40 MSEK INSTEAD OF PREVIOUS ESTIMATE OF UP TO
30 MSEK COMPARED TO 2020
* CO-DEVELOPMENT PROJECT WITH AN INTERNATIONAL CUSTOMER THAT
HAS
BEEN CONTRIBUTING TO MODELON IMPACT DEVELOPMENT OVER 2018-2020
IS BEING RAMPED DOWN IN Q1 ACCORDING TO PLAN AND PREVIOUS
COMMUNICATION
Source text for Eikon: ID:nMFNbPNK0C
Further company coverage: MODELb.ST
(Gdansk Newsroom)
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