Softwareone slips after guidance cut, Q2 miss

SoftwareOne Holding AG

21/08/2024 08:34

** Shares in Softwareone  SWON.S  fall around 4% after the
Swiss software services company cut its 2024 guidance and missed
market expectations for Q2 results
    ** It now sees revenue growth of 7-9% for the year, down
from the 8-10% it previously expected, while reiterating its
margin guidance
    ** J.P.Morgan says that with the confirmed margin guidance,
it expects cuts to consensus to be limited to low single-digit
percentage at this stage
    ** Q2 adjusted EBITDA was 76.5 million Swiss francs ($89.5
million), missing consensus of 80.5 million francs
    ** Softwareone's results give a negative insight into how
the software sector is doing, JPM says
    ** The company also said discussions with potential buyers
were ongoing as it examines "several" approaches to take it
private

($1 = 0.8545 Swiss francs)

 (Reporting by Isabel Demetz)
 ((Isabel.demetz@thomsonreuters.com))