Brief: Sitowise Lowers FY Adj EBITA Margin Guidance

Sitowise Oyj

19/10/2023 12:06

Oct 19 (Reuters) - Sitowise Group Oyj  SITOWS.HE :
    * INSIDE INFORMATION, PROFIT WARNING: SITOWISE LOWERS ITS
FULL
YEAR ADJUSTED EBITA MARGIN (%) GUIDANCE WHILE MAINTAINING NET
SALES GUIDANCE, AND PROVIDES PRELIMINARY KEY FIGURES FOR THE
THIRD QUARTER
    * ESTIMATES THAT ITS NET SALES IN YEAR 2023 IN EUROS WILL
INCREASE
COMPARED TO 2022
    * ESTIMATES ADJUSTED EBITA MARGIN (%) FOR WHOLE YEAR 2023
WILL BE
BELOW YEAR-TO-DATE ADJUSTED EBITA MARGIN LEVEL OF 9.2%, BUT
ABOVE 8%
    * OUTLOOK FOR REST OF YEAR IN BUILDINGS BUSINESS AREA IS
WEAK, AND
WE EXPECT CHALLENGES TO CONTINUE ALSO IN 2024
    * LOWERS ITS FULL YEAR ADJUSTED EBITA MARGIN (%) GUIDANCE
DUE TO
WEAKENED MARKET OUTLOOK ESPECIALLY IN BUILDINGS BUSINESS AREA
AND WEAKER THAN EXPECTED PERFORMANCE IN SWEDEN BUSINESS AREA IN
Q3
    * KEEPS ITS FULL YEAR 2023 NET SALES GUIDANCE UNCHANGED
    * PREVIOUS GUIDANCE: ESTIMATES ADJUSTED EBITA MARGIN (%)
WILL BE
BROADLY AT SAME LEVEL AS ADJUSTED EBITA MARGIN OF 2022

Source text for Eikon:  ID:nWkr82RNY4 
Further company coverage:  SITOWS.HE 

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