Brief: Qliro Group Sets New Financial Targets For Subsidiary Qliro AB

Nelly AB (publ)

04/02/2020 16:56

Feb 4 (Reuters) - Qliro Group AB (publ)  QLRO.ST :
    * QLIRO GROUP SETS NEW FINANCIAL TARGETS FOR SUBSIDIARY
QLIRO AB
AND COMMENTS ON THE 2020 OUTLOOK FOR THE SUBSIDIARIES
    * SAYS IN MEDIUM TERM, QLIRO AB:S TARGET IS TO ACHIEVE AN
INCOME
GROWTH OF 20-25 PER CENT ON AVERAGE PER ANNUM
    * SAYS TARGET IS TO REACH A COST TO INCOME RATIO OF 50
PERCENT BY
2023
    * SAYS FOR FINANCIAL YEAR 2020, QLIRO AB:S TARGET IS A NET
LOAN
LOSS LEVEL BELOW 1.25 PERCENT OF MANAGED PAD VOLUMES
    * SAYS EXPECTS A NEGATIVE PROFIT BEFORE TAX FOR FULL-YEAR IN
2020,
MAINLY RELATED TO FIRST HALF OF YEAR
    * SAYS NELLY AFFIRMS PREVIOUS FINANCIAL TARGETS AND COMMENTS
ON
OUTLOOK FOR 2020
    * ON NELLY OUTLOOK -SAYS OPERATING MARGIN BEFORE
DEPRECIATION,
AMORTIZATION AND IMPAIRMENT WILL AMOUNT TO 2-4 PERCENT
    * ON NELLY OUTLOOK -SAYS OUR ASSESSMENT FOR FULL YEAR 2020
IS THAT
NET SALES WILL INCREASE, ALTHOUGH NOT IN LINE WITH TARGET

Source text for Eikon:  ID:nWkr6cFjLS 
Further company coverage:  QLRO.ST 

 ((niklas.pollard@thomsonreuters.com;))