Brief: Solteq: Profit Warning, Writes Off About EUR 6.3 Mln

Solteq Oyj

20/12/2023 09:02

Dec 20 (Reuters) - Solteq Oyj  SOLTEQ.HE :
    * INSIDE INFORMATION, PROFIT WARNING: SOLTEQ PLC CHANGES ITS
OPERATING LOGIC, DISCONTINUES PRODUCT DEVELOPMENT COST
ACTIVATIONS, AND WRITES OFF APPROXIMATELY EUR 6.3 MILLION
    * AS A RESULT OF WRITE-OFF, COMPANY UPDATES ITS PROFIT
GUIDANCE
FOR 2023: SOLTEQ'S REVENUE IS EXPECTED TO BE EUR 57-59 MILLION
    * SEES 2023 OPERATING RESULT TO BE NEGATIVE, EXCLUDING
ONE-TIME
PROFIT RECOGNITION OF EUR 8 MILLION ON SALE OF GROUP'S ERP
BUSINESS
    * WRITE-OFF HAS NO CASH FLOW IMPACT.
    * IN FUTURE, COMPANY WILL TREAT EXPENSES OF DEVELOPING
EXISTING
SOFTWARE PRODUCTS AS COSTS IN INCOME STATEMENT AS PART OF NORMAL
BUSINESS OPERATIONS

Source text for Eikon:  ID:nWkr6L5Hpp 
Further company coverage:  SOLTEQ.HE 

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