Brief: Movinn Adjusts Guidance Downwards

Movinn A/S

03/11/2023 08:07

Nov 3 (Reuters) - Movinn A/S  MOVINN.CO :
    * Q3 EBITDA MARGIN FROM DANISH OPERATIONS OF 1.7% (12.4%)
    * Q3 EBITDA MARGIN FROM CONSOLIDATED OPERATIONS OF 1.4%
    * H1 AND Q3 HAS BEEN PERFORMING WORSE THAN EXPECTED AND WE
ARE
EXPERIENCING A HIGHER-THAN-EXPECTED COST BASE
    * GUIDANCE ADJUSTED DOWNWARDS
    * WILL CONTINUE TO WORK ACTIVELY ON COST BASE – INCLUDING
WAGE
LEVELS TO ASSESS WHETHER HAVE REDUNDANCY IN CURRENT ORGANIZATION
    * CUTS GUIDANCE FOR 2023 EBITDA FROM OPERATIONS GUIDANCE TO
DKK
1.5 MILLION (PREVIOUSLY DKK 10-12 MILLION)

Source text for Eikon:  ID:nWkrhFvWH 
Further company coverage:  MOVINN.CO 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))