Secunet plunges on 'disastrous' 2022 outlook

Secunet Security Networks AG

15/11/2021 07:48

** Shares in Secunet  YSNG.DE  drop over 17% in Frankfurt
early trade after the German IT service provider announced its
outlook for 2022 on Friday  urn:newsml:reuters.com:*:nASN001VSO
    ** "Disastrous FY22 outlook seeing shrinking business," a
local trader says
    ** The group said it expected 2022 sales revenues of around
320 million euros ($366.53 million) and EBIT of about 50 million
euros, below forecast for current financial year 2021
    ** The company sees its product business (merchandise,
licences, maintenance and support) to stabilise in 2022 at the
level of the current year as pandemic-related market effects
fade 
    ** On Nov. 3 Secunet confirmed its 2021 guidance for sales
revenues of around 330 mln euros and an EBIT of about 59 mln
euros  urn:newsml:reuters.com:*:nFWN2RT1W3
    ** Stock at bottom of German small-cap index  .SDAXI 
    


($1 = 0.8731 euros)

 (Reporting by Linda Pasquini in Gdansk)
 ((Linda.pasquini@thomsonreuters.com))