Jan 5, 2024

Insider information, profit warning: Net sales growth in 2023 stays slightly below the guidance, operating profit margin at guidance high end or above

According to preliminary figures which have not been audited, Qt Group Plc’s net sales in the last quarter of 2023 will be approximately EUR 59 million. Our full-year net sales for 2023 will be approximately EUR 180-181 million. Thus, the net sales growth at comparable exchange rates will be approximately 18-19 % in 2023 year-on-year.

The company estimates the operating profit margin (EBITA-%) to be close to 30 % or slightly above in 2023. 

According to the company’s guidance, released on October 26, 2023, our full-year net sales for 2023 will increase by 20–25 percent year-on-year at comparable exchange rates and our operating profit margin (EBITA-%) will be 25–30 percent in 2023.

Thus, the revenue growth in 2023 will stay behind from the previous guidance, while operating profit margin (EBITA-%) is at the guidance high end or slightly above. 

The weaker growth than estimated is caused by the results of the professional services that didn’t reach the company’s earlier forecast and on the other hand the maturity in new developer licenses was emphasized even more than estimated on the 1-year licenses instead of multiyear contracts.

Simultaneously, the last quarter of 2023 was the best in company’s history and the company sold a record amount of new developer licenses. However, the strong performance at the end of the year was not enough to lift the net sales enough to meet the earlier guidance.

The company will share more details about 2023 financial development and gives financial guidance for 2024 on February 16, 2024 together with the financial statements bulletin and financial statements for 2023. 

Further information:
President and CEO Juha Varelius, tel. +358 9 8861 8040

Nasdaq Helsinki
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