Brief: NNIT Q3 Net Profit Down At DKK 9 Mln

Nnit A/S

29/10/2020 07:35

Oct 29 (Reuters) - NNIT A/S  NNIT.CO :
    * REG-NNIT A/S: 11/2020 FINANCIAL REPORT FOR THE FIRST NINE
MONTHS
OF 2020
    * GROUP REVENUE DECREASED BY 14% TO DKK 658M IN Q3 2020
COMPARED
TO Q3 2019
    * COVID-19 SITUATION CONTINUED TO IMPACT PERFORMANCE IN Q3
2020
DUE TO ONGOING UNCERTAINTY LEADING TO DELAYS OF TENDERS AND
PROJECTS
    * NET PROFIT AT DKK 9M IN Q3 2020 COMPARED TO DKK 50M IN Q3
2019
DUE TO LOWER OPERATING PROFIT AND NEGATIVE IMPACT FROM NET
FINANCIALS
    * ORDER BACKLOG FOR 2020 AT BEGINNING OF Q4 2020 AT DKK
2,691M, A
DECREASE OF 7.9% COMPARED TO SAME TIME LAST YEAR
    * COVID-19 CONTINUES TO IMPACT OUR BUSINESS NEGATIVELY BY
DELAYING
PROJECT WORK AND TENDERS AND WE NOW EXPECT THAT OUR PERFORMANCE
FOR 2020 WILL BE AT BOTTOM OF PREVIOUSLY GUIDED INTERVALS
    * OUR GUIDANCE FOR 2020 IS SPECIFIED
    * SEES 2020 REVENUE GROWTH OF AROUND - 8% IN CONSTANT
CURRENCIES
    * SEES 2020 OPERATING PROFIT MARGIN BEFORE SPECIAL ITEMS OF
AROUND
6% IN CONSTANT CURRENCIES
    * SEES 2020 LEVEL OF INVESTMENT (CAPEX) IS 5-7% OF TOTAL
REVENUE
(UNCHANGED)

Source text for Eikon:  ID:nGNE1PTzrv 
Further company coverage:  NNIT.CO 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))