PROFIT WARNING - INSIDE INFORMATION: QPR Software Plc's EBITDA better than expected, net sales at the previous year's level, SaaS growth outlook (over 35%) unchanged
16 Ottobre 2023 - 8:00AM
PROFIT WARNING - INSIDE INFORMATION: QPR Software Plc's EBITDA
better than expected, net sales at the previous year's level, SaaS
growth outlook (over 35%) unchanged
QPR SOFTWARE
PLC
INSIDE
INFORMATION
16 October 2023 at 9 a.m. EET
QPR Software Plc expects
its EBITDA to become clearly positive in 2023. According to
previous guidance, the company expected its EBITDA to improve
significantly and reach the break-even point in the financial year
2023. The improvement in profitability beyond expectations has been
influenced by the significant cost-saving measures taken and the
focus of sales on the more profitable SaaS and software business as
well as on consulting in these priority areas.
As part of the company's
strategy, QPR is re-positioning itself even more strongly as a
software and SaaS player and as a consultant for its core business
areas. Some of the consulting projects in the domestic public
sector outside the core business have ended prematurely or they are
occurring on a smaller scope than originally expected. This will
reduce the net sales at the end of the year, and the company's net
sales for the whole fiscal year will remain at the level of the
previous year, while the growing software business compensates the
decrease.
The company's SaaS
turnover is expected to continue to grow by more than 35% from last
year, and business activities outside of consulting will grow as a
whole.
THE UPDATED
OUTLOOK FOR 2023
Supported by the current
contract base and the projected growth of SaaS (Software as a
Service) turnover, QPR expects the growth of SaaS turnover to be
more than 35% and estimates that the entire turnover will remain at
the same level as in 2022 (2022: 7,823 thousand euros).
The company expects
EBITDA to improve considerably and end up clearly positive in the
2023 financial year. EBITDA in 2022 was -1753 thousand
euros.
PREVIOUS
OUTLOOK FOR 2023
The exceptional
circumstances caused by increased interest rate, inflation, and a
market downturn in Europe continue to affect new customer
acquisition, companies' investments, and prolong decision-making in
early 2023.
Supported by the current
contract base and the projected growth of SaaS (Software as a
Service) net sales, QPR expects the growth of SaaS net sales to be
more than 35% and estimates that the entire net sales increase in
2023 (2022: 7,823 thousand euros).
The company expects the
EBITDA to improve considerably and reach the break-even point in
the financial year 2023. The EBITDA in 2022 was - 1,753 thousand
euros.
QPR Software Plc will
publish its January-September 2023 interim report on Friday,
October 20, 2023.
For further
information:
Heikki Veijola
Chief Executive
Officer
QPR Software
Plc
Tel. +358 40 922
6029
About QPR
Software
QPR Software Plc (Nasdaq
Helsinki) provides process mining, performance management, and
enterprise architecture solutions for digital transformation,
strategy execution, and business process improvement in over 50
countries. QPR software allows customers to gain valuable insights
for informed decisions that make a difference.
www.qpr.com
DISTRIBUTION
Nasdaq Helsinki
Key medias
www.qpr.com
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