Brief: Netum Group Lowers earnings estimate for FY 2022

Netum Oyj

08/08/2022 11:40

Aug 8 (Reuters) - Netum Group Oyj  NETUM.HE :
    * PROVIDES PRELIMINARY INFORMATION ON JANUARY-JUNE 2022
RESULT AND
LOWERS ITS EARNINGS ESTIMATE
    * LOWERS ITS EARNINGS ESTIMATE FOR YEAR 2022
    * EXPECTS ITS 2022 EBITA TO BE APPROXIMATELY 12-14 % OF
REVENUE
    * GROUP'S REVENUE ESTIMATE FOR 2022 IS INTACT
    * EXPECTS ITS REVENUE TO GROW AT LEAST 30% FROM PREVIOUS
YEAR
    * CO'S PROFITABILITY ESTIMATE IS LOWERED DUE TO LARGER THAN
EXPECTED INVESTMENTS IN PERSONNEL GROWTH MADE IN H1, HIGHER THAN
USUAL VOLUME OF SUBCONTRACTING, SICK LEAVES AND GENERAL COST
INCREASE
    * NETUM'S MEDIUM-TERM FINANCIAL TARGETS ARE INTACT
    * AIMS TO ACHIEVE A REVENUE OF EUR 50 MILLION BY 2025 AND TO
ACHIEVE AN EBITA OF AT LEAST 14 PER CENT ANNUALLY


Further company coverage:  NETUM.HE 

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