Opera Software sets "medium-term" goal to double sales (updated)

Otello ASA

30/03/2017 06:32

(Adds main drivers of growth strategy) 
    March 30 (Reuters) - Norway's Opera Software Asa  OPERA.OL  
on Thursday reiterated its 2017 outlook for sales and earnings 
and set a "medium-term" ambition for sales to double to more 
than $1 billion and its profit margin to rise. 
    * Maintains 2017 target of revenues $550 million-$650 
million, up from $537 million in 2016 
    * Maintains 2017 target of adjusted ebitda $50 million-$70 
million, corresponding to an ebitda margin of 9-11 percent 
    * Says medium-term ambition is for revenue to exceed $1 
billion, adjusted ebitda margin of about 15 percent 
    * The company did not specify how long it would take to 
reach the medium term targets 
    * Says main drivers of medium-term ambition in AdColony unit 
are new product launches and automation/operational efficiencies 
    * Says main drivers of medium-term ambition in Bemobi unit 
are its market-leading position in Latin America and an 
international expansion 
    * Says main drivers of medium-term ambition in SurfEasy are 
white-label VPN solution roll-out with partners and continued 
growth in consumer VPN subscribers 
    * Says main drivers of medium-term ambition in SkyFire are a 
push from mobile operators for unlimited data plans and "wins 
and design-ins from network suppliers" 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nWkrvvpV9 
Further company coverage:  OPERA.OL  
 
 (Reporting By Terje Solsvik; editing by Niklas Pollard) 
 ((terje.solsvik@thomsonreuters.com;)) 
 
Keywords: OPERA SOFTWARE OUTLOOK/