Brief: Techstep Says Long-Term Ambitions Remain Unchanged

Techstep ASA

15/05/2024 06:19

May 15 (Reuters) - Techstep ASA  TECH.OL :
    * Q1 REVENUE NOK 255.8 MILLION VERSUS NOK 281.4 MILLION YEAR
AGO
    * Q1 ADJUSTED EBITDA NOK 31.3 MILLION VERSUS NOK 32.7
MILLION YEAR
AGO
    * DECLINE IN REVENUE RELATES TO REDUCED SALES OF MOBILE
DEVICES,
PARTLY OFFSET BY POSITIVE DEVELOPMENT FROM SOFTWARE AND
ADVISORY& SERVICE
    * DUE TO THE COST OPTIMALISATION PROGRAMME IMPLEMENTED Q4
2022, Q1
GENERATED POSITIVE RESULTS FROM OPERATIONS, DESPITE DECLINE IN
REVENUE
    * EXPECTS ACCELERATION IN SECOND HALF OF 2024 AND INTO 2025
IN
DEVICE SALES
    * FOR 2024, AIMS AT GROWING RECURRING REVENUES ANNUALISED
Y/Y BY
+30%, NET GROSS PROFIT BY 10-15%, INCREASING EBITA CONVERSION TO
12-16%
    * LONG-TERM AMBITIONS REMAIN UNCHANGED

Source text for Eikon:  ID:nWkrC1SXZ 
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