Inside information, profit warning: Siili Solutions Plc lowers its financial guidance for 2024 revenue and adjusted EBITA

Inside information, profit warning: Siili Solutions Plc lowers its financial guidance for 2024 revenue and adjusted EBITA

Siili Solutions Plc Inside information 17 September 2024 at 12:30 EEST

Siili Solutions Plc lowers its financial guidance for 2024 group revenue and adjusted EBITA. The company expects now the group revenue for 2024 to be EUR 106-116 million and adjusted EBITA EUR 4.5-6.5 million. The previous guidance for the current year’s group revenue was EUR 120–140 million and adjusted EBITA EUR 7.5-10.5 million.

The market turnaround has taken longer than expected, even though positive signs in sales activity are visible. In addition, the decision making and the commitments of new projects within Siili clientele has continued to be slow. The current Finnish public sector cost cutting actions have also weakened the growth prospects in the current year.

New outlook for 2024:

Revenue for 2024 is expected to be EUR 106-116 million and EBITA EUR 4.5-6.5 million.

Previous outlook for 2024:

Revenue for 2024 is expected to be EUR 120–140 million and EBITA EUR 7.5-10.5 million.

The company publishes its Q3 business review on 22 October 2024.

Further information:

CEO Tomi Pienimäki

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

CFO Aleksi Kankainen

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

Distribution:

Nasdaq Helsinki Ltd

Main media

www.siili.com/en

Siili Solutions in brief: 

Siili Solutions Plc is a forerunner in AI-powered digital development. Siili is the go-to partner for clients seeking growth, efficiency and competitive advantage through digital transformation. Our main markets are Finland, the Netherlands, the United Kingdom, and Germany. Siili Solutions Plc’s shares are listed on the Nasdaq Helsinki Stock Exchange. Siili has grown profitably since its founding in 2005. www.siili.com/en