Brief: NNIT Says Q1 Performance In Asia Was Weaker Than Expected

Nnit A/S

07/05/2024 11:18

May 7 (Reuters) - NNIT A/S  NNIT.CO :
    * PERFORMANCE IN REGION ASIA WAS NOT AS EXPECTED AND
SIGNIFICANT
ACTIONS HAVE BEEN TAKEN TO REDUCE CAPACITY AND REGAIN
PROFITABILITY
    * DESPITE A SOFT START TO YEAR WHICH WAS ALSO IMPACTED BY
TIMING
OF EASTER, STRATEGIC FOCUS OF NNIT REMAINS INTACT
    * FULL-YEAR OUTLOOK IS MAINTAINED WITH GRADUAL IMPROVEMENTS
EXPECTED QUARTER BY QUARTER
    * MACROECONOMIC ENVIRONMENT IN CHINA REMAINS CHALLENGING AND
CONTINUES TO NEGATIVELY IMPACT THE BUSINESS PERFORMANCE
    * REGION ASIA: NNIT EXPERIENCES LOWER DEMAND FOR EXTERNAL
SUPPORT
AND CUSTOMERS ARE HESITANT TO SIGN NEW OR EXPAND EXISTING
CONTRACTS
    * REGION ASIA: WEAK REVENUE PERFORMANCE WAS MAIN CATALYST
FOR
DEVELOPMENT IN REGION’S GROUP OPERATING PROFIT MARGIN THAT ENDED
AT -18.0%

Source text for Eikon:  ID:nGNE7K0HcN 
Further company coverage:  NNIT.CO 

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