Brief: Solteq Lowers Its Guidance For Revenue And Operating Profit For 2022

Solteq Oyj

19/09/2022 14:48

Sept 19 (Reuters) - Solteq Oyj  SOLTEQ.HE :
    * PROFIT WARNING: SOLTEQ PLC LOWERS ITS GUIDANCE FOR REVENUE
AND
OPERATING PROFIT FOR 2022
    * FORECASTS THAT REVENUE AND OPERATING PROFIT OF COMPANY'S
BUSINESS WILL BE WEAKER THAN EARLIER ESTIMATED
    * WILL WRITE-OFF INVESTMENTS MADE TO PRODUCT DEVELOPMENT OF
SOLTEQ
ROBOTICS BUSINESS AMOUNTING TO APPROXIMATELY EUR 4.4 MILLION
    * NEW PROFIT GUIDANCE FOR 2022 IS: SOLTEQ GROUP'S REVENUE IS
EXPECTED TO STAY AT SAME LEVEL AND OPERATING PROFIT TO BE
NEGATIVE.
    * CHANGE IN OUTLOOK IS DUE TO SIGNIFICANT PRODUCT
DEVELOPMENT
COSTS OF SOLTEQ UTILITIES
    * PROJECT AND SERVICE DELIVERY COSTS OF SOLTEQ UTILITIES
HAVE
INCREASED
    * REVENUE AND PROFITABILITY OF SOLTEQ DIGITAL SEGMENT HAVE
WEAKENED FROM PREVIOUS
    * ESTIMATED ONE-TIME NEGATIVE IMPACT OF EUR 4.4 MILLION ON
COMPANY'S OPERATING PROFIT OF 2022
    * WRITE-OFF WILL BE MADE DURING Q3
    * WRITE-OFF HAS NO CASH FLOW EFFECT.
    * PREVIOUS 2022 PROFIT GUIDANCE, PUBLISHED ON MAY 25, WAS:
SOLTEQ
GROUP'S REVENUE IS EXPECTED TO GROW AND OPERATING PROFIT TO
WEAKEN.

Source text for Eikon:  ID:nWkr27kRjw 
Further company coverage:  SOLTEQ.HE 

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