0RFO Siili Solutions Oyj

Inside information, profit warning: Siili Solutions Plc lowers its financial guidance for 2023 group revenue and EBITA 

Inside information, profit warning: Siili Solutions Plc lowers its financial guidance for 2023 group revenue and EBITA 

Siili Solutions Plc Inside information 13 June 2023 at 12:00 pm EEST

Siili Solutions lowers its financial guidance for 2023 group revenue and EBITA due to slowdown in the revenue growth rate and general cost inflation during the current year. The company expects now the group revenue for 2023 to be EUR 120–140 million and EBITA EUR 8.3–11.8 million. The previous guidance for the current year’s group revenue was EUR 125–145 million and EBITA EUR 12–15.5 million.

Reasoning for the updated financial guidance:

The weakening of the market conditions during the current year has increased uncertainty which is slowing down the commencement of new projects within Siili clientele both in Finland as well as internationally. Respectively, the price competition in the market has increased, which makes it more difficult to transfer the inflation-based costs to customer prices. These factors are expected to weaken the company’s profitability this year in comparison to the previous estimate.

The company will intensify and introduce measures to increase sales and improve cost efficiency in the changed market environment. 

New outlook for 2023:

Revenue for 2023 is expected to be EUR 120–140 million and EBITA EUR 8.3–11.8 million.

Previous outlook for 2023:

Revenue for 2023 is expected to be EUR 125–145 million and EBITA EUR 12–15.5 million.

The company publishes its half-year financial report for January-June 2023 on 16 August 2023 approximately at 9:00 am EEST.

SIILI SOLUTIONS PLC 

Further information:

CEO Tomi PienimäkiPhone: +358 (0)40 834 1399, email: tomi.pienimaki(at)siili.com

CFO Aleksi KankainenPhone: +358 (0)40 534 2709, email: aleksi.kankainen(at)siili.com

Distribution: 

Nasdaq HelsinkiMain media sijoittajille.siili.com/en/

Siili Solutions in brief:

Siili Solutions in brief Siili Solutions Plc is a unique combination of a digital agency and a technology powerhouse. We believe in human-centricity in everything we deliver. Siili is the go-to partner for clients seeking growth, efficiency and competitive advantage through digital transformation. Siili has offices in Finland, Germany, Poland, Hungary, the Netherlands, Austria, the United Kingdom and USA. Siili Solutions Plc shares are listed on Nasdaq Helsinki Ltd. Siili has grown profitably since it was founded in 2005. www.siili.com