QPR SOFTWARE PLC 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
October 16 2023 - 1:00AM
UK Regulatory
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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
(END) Dow Jones Newswires
October 16, 2023 02:00 ET (06:00 GMT)
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