Brief: Urb-it Cuts Sales, EBITDA Targets

Urb-it AB (publ)

22/06/2023 06:35

June 22 (Reuters) - Urb-it AB  URBIT.ST :
    * SAID ON WEDNESDAY, BASED ON CURRENT TRADING AND PIPELINE,
NOW
TARGETS FULL YEAR SALES IN 2023 AT 65 MILLION SWEDISH CROWNS
AGAINST PREVIOUS TARGET OF 112 MILLION CROWNS
    * NEW TARGET FOR EBITDA IS LOSS OF 115 MILLION CROWNS
AGAINST LOSS
OF 73 MILLION CROWNS SEEN EARLIER
    * SAID ADJUSTED TARGETS CAN BE ATTRIBUTED TO CAUTIOUS
APPROACH
ADOPTED BY RETAILERS IN CURRENT MARKET CIRCUMSTANCES
    * SAID CAUTIOUS APPROACH LED TO WHAT IT DEEMS TO BE
TEMPORARY
SLOWDOWN IN INVESTMENTS IN NEW PROJECTS, DELAYING GROWTH FOR
COMPANY 

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nBQN62yHst
 Further company coverage:  URBIT.ST  

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