Brief: Ovzon Adjusts FY Rev Guidance

Ovzon AB (publ)

20/10/2023 07:14

Oct 20 (Reuters) - Ovzon AB (publ)  OVZON.ST :
    * NEW OUTLOOK:  REVENUE FOR 2023 WILL AT LOWEST AMOUNT TO SEK 250 MILLION (COMPARED WITH SEK
357
MILLION FOR 2022)
    * ADJUSTMENT IS DUE TO CHANGED PROSPECTS ATTRIBUTABLE TO LONG SALES CYCLES FOR NEW BUSINESS,
AND
ONGOING NEGOTIATIONS
    * PREVIOUSLY, OVZON ASSESSED THAT REVENUE FOR 2023 WOULD BE ON A PAR WITH 2022
    * LAUNCH OF OVZON 3 IS NOW EXPECTED TO TAKE PLACE AS SOON AS DECEMBER 2023
    * WE HAVE DECIDED TO MAKE FURTHER PROVISIONS FOR BAD DEBT ON REMAINING RECEIVABLE OF 7 MSEK
FROM
OUR FORMER ITALIAN DISTRIBUTOR

Source text for Eikon:  ID:nMFN3j4Zdf 
Further company coverage:  OVZON.ST 

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