Brief: Qt Group Lowers Its Net Sales Outlook For Full Year 2022

Qt Oyj

01/08/2022 09:56

Aug 1 (Reuters) - Qt Group Oyj  QTCOM.HE :
    * PROFIT WARNING: QT GROUP PLC LOWERS ITS NET SALES OUTLOOK
FOR
THE FULL YEAR 2022 AND PUBLISHES PRELIMINARY FIGURES FROM THE
SECOND QUARTER OF 2022
    * DURING Q2, IT BECAME EVIDENT THAT VARIOUS UNCERTAINTY
FACTORS,
SUCH AS INCREASING ENERGY PRICES, HIGH INFLATION, AND GENERAL
ECONOMIC SLOWDOWN, INCREASED CAUTIOUSNESS IN CUSTOMER BEHAVIOR,
ESPECIALLY IN ASIA
    * SOME SIGNIFICANT PROJECTS WERE POSTPONED OR ONLY PARTIALLY
EXECUTED, WHICH LEAD TO REVENUE FROM DEVELOPER LICENSES AND
CONSULTING TO REMAIN BELOW COMPANY TARGET
    * ESTIMATES THAT ITS NET SALES GROWTH WILL BE CONSIDERABLY
STRONGER IN SECOND HALF OF 2022 THAN IN FIRST HALF OF 2022
    * NEW OUTLOOK FOR 2022: QT GROUP ESTIMATES THAT ITS
FULL-YEAR NET
SALES FOR 2022 WILL INCREASE BY 20-30 PERCENT YEAR-ON-YEAR AT
COMPARABLE EXCHANGE RATES AND THAT OPERATING PROFIT MARGIN WILL
BE 20-30 PERCENT
    * IMPACTED BY FIRST HALF-YEAR RESULTS, COMPANY ESTIMATES
THAT ITS
FULL-YEAR NET SALES IN COMPARABLE EXCHANGE RATES WILL BE BELOW
PREVIOUSLY PUBLISHED OUTLOOK
    * PREVIOUS OUTLOOK FOR 2022: QT GROUP ESTIMATES THAT ITS
FULL-YEAR
NET SALES FOR 2022 WILL INCREASE BY 30-40 PERCENT YEAR-ON-YEAR
AT COMPARABLE EXCHANGE RATES AND THAT OPERATING PROFIT MARGIN
WILL BE 20-30 PERCENT
    * ACCORDING TO PRELIMINARY FIGURES, WHICH HAVE NOT BEEN
AUDITED,
QT GROUP'S NET SALES IN Q2 OF 2022 WERE APPROXIMATELY EUR 37
MILLION
    * EBIT IN Q2 WAS APPROXIMATELY EUR 9 MILLION AND OPERATING
PROFIT
MARGIN WAS APPROXIMATELY 24 PERCENT

Source text for Eikon:  ID:nWkr4x7cvz 
Further company coverage:  QTCOM.HE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))