HELSINKI, Oct. 25, 2018
HELSINKI, Oct. 25, 2018 /PRNewswire/ -- Solteq Plc Stock Exchange Bulletin 25.10.2018 at 8.00 am
The Company grew, and profitability improved
Brief look at January – September 2018
Key figures and ratios
Adjusted EBITDA, TEUR
Operating profit, TEUR
Adjusted operating profit, TEUR
Profit for the financial period, TEUR
Adjusted operating profit
Equity ratio, %
* The company has taken the IFRS 15 standard into use on 1 January 2018 retroactively and the comparison figures for 2017 have been adjusted.
Olli Väätäinen, CEO of Solteq: The Company grew, and profitability improved
Solteq Group's revenue was EUR 41.9 million for the review period, a 9.8 percent increase year-on-year. The drivers of this growth were mainly the acquisitions executed in 2017 and the good demand for digital services. Nearly one fifth of the Group's revenue originated from outside Finland and continuous services accounted for approximately one third of the revenue.
For the review period, the company's adjusted EBITDA was EUR 3.8 million and its adjusted operating profit was EUR 2.0 million. The company's adjusted operating profit for the third quarter was EUR 0.6 million, which was in line with the company's expectations.
The company continued significant investments in the development of its own cloud-based software products and services. We are especially active in areas that enable us to incorporate artificial intelligence and physical autonomous robotics into our products and services. The product and services development investments resulted into first orders related to the Solteq Smart Retail suite. Solteq Smart Retail is a modular, cloud-based solution platform that simplifies business management and planning in small and medium-sized retail companies especially. Sales management, customer experience optimization and operational improvements can all be executed via the solution platform. The Smart Retail suite is primarily based on company's own software and it is delivered as a Service.
We also continued the development of the software products and services acquired through acquisitions. In the energy industry, the company received two major orders. Solteq will deliver a new customer service application for Lappeenrannan Energia and Porvoon Energia. The applications will include customer service and invoicing functionalities for district heating and the sales and transfer of electricity. The applications will be delivered as SaaS.
In the third quarter, the Group's personnel increased from 569 to 584.
The business outlook for the last quarter of the current financial year is good and the company's profitability is expected to develop positively.
Guidance on Group outlook
Solteq Group's adjusted operating profit is expected to grow significantly compared to the financial year 2017.
Olli Väätäinen, CEO, tel. +358-50-557-8111
Martti Nurminen, CFO, tel. +358-40-751-7194
NASDAQ OMX Helsinki
Solteq in brief
Solteq is a Nordic industry-independent IT provider and software house that specialises in digital business solutions. Our mission is to simplify the digital world to make a better tomorrow. We are a partner who knows what it takes to win in digital disruption, regardless of our customer's industry. Our over 550 experts, who work in five countries, develop and implement solutions for clients mainly in the Nordic countries.
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The following files are available for download:
Solteq Plc Interim Report Q3 2018