Brief: Techstep Revises FY Outlook

Techstep ASA

10/11/2023 06:48

Nov 10 (Reuters) - Techstep ASA  TECH.OL :
    * Q3 NET GROSS PROFIT MARGIN UP FROM 29% TO 33% Y/Y
    * Q3 ARR FROM OWN SOFTWARE AT NOK 111 MILLION, 12% GROWTH
Y/Y
    * WE NEED TO SIMPLIFY AND IMPROVE SALES AND MATERIALISE ON
LARGE
FRAME AGREEMENTS WE WON EARLIER THIS YEAR - CEO
    * MOVING INTO THE FOURTH QUARTER, THERE ARE INDICATIONS THAT
THE
CUSTOMERS’ READINESS IS SLOWER THAN ANTICIPATED
    * UPSELL ON SOME AGREEMENTS CAN BE EXPECTED TO MATERIALISE
IN 2024
RATHER THAN 2023
    * GROWTH IN OVERHEAD COSTS IS EXPECTED TO BE LOWER GOING
FORWARD
    * REVISED ITS OUTLOOK FOR 2023
    * UPDATED OUTLOOK FOR 2023 ARE AN ARR OF NOK 110-120
MILLION, NET
GROSS PROFIT TO NOK 350-360 MILLION AND EBITA ADJUSTED. ABOVE
NOK 30 MILLION

Source text for Eikon:  ID:nObiR4S2ga 
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