Brief: Sitowise Proposes No Dividend For 2023

Sitowise Oyj

27/02/2024 06:53

Feb 27 (Reuters) - Sitowise Group Oyj  SITOWS.HE :
    * EVEN WITH HEADWINDS IN BUILDINGS BUSINESS, OUR FULL-YEAR
NET
SALES INCREASED BY 3.2 PERCENT IN 2023
    * OPERATING PROFIT BURDENED BY ONE-TIME COSTS MAINLY RELATED
TO
PERSONNEL REDUCTIONS IN BUILDINGS IN Q4
    * IN Q4, IMPLEMENTATION OF NEW ERP AND CRM SYSTEMS IN
FINLAND
AFFECTED NET SALES AND PROFITABILITY SIGNIFICANTLY
    * WE EXPECT MARKET ENVIRONMENT TO REMAIN MIXED IN 2024
    * OUTLOOK 2024: DEMAND FOR SERVICES RELATED TO GREEN
TRANSITION,
SECURITY AND DIGITALIZATION OF BUILT ENVIRONMENT EXPECTED TO
REMAIN KEY DRIVERS FOR GROWTH ESPECIALLY IN INFRA AND DIGITAL
SOLUTIONS
    * IN BUILDINGS, H1 WILL STILL BE CHALLENGING, MARKET
EXPECTED TO
SHOW SIGNS OF RECOVERY TOWARDS END OF 2024 AT EARLIEST
    * PRIORITY IN 2024 IS TO IMPROVE SITOWISE'S PROFITABILITY
    * NET SALES IS EXPECTED TO SLIGHTLY DECLINE IN 2024, DRIVEN
BY
BUILDINGS BUSINESS DECLINE
    * ADJUSTED EBITA MARGIN (%) IS EXPECTED TO BE AT 2023 LEVEL
OR
ABOVE IN 2024
    * PROPOSES THAT NO DIVIDEND BE PAID BASED ON BALANCE SHEET
TO BE
ADOPTED FOR FINANCIAL YEAR 2023
    * IN BUILDINGS, WORKLOAD WAS ON AN INSUFFICIENT LEVEL, WHICH
HAS
LED TO A START OF SELECTIVE TEMPORARY LAYOFFS IN BUILDINGS IN
EARLY 2024

Source text for Eikon:  ID:nWkr7vYRGQ 
Further company coverage:  SITOWS.HE 

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