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Solteq Plc Half-year Report 1 January - 30 June 2019HELSINKI, Finland, Aug. 13, 2019 /PRNewswire/ -- Solteq Plc Stock Exchange Bulletin 13.8.2019 at 8.00 am International subsidiaries grew April–June
January–June
*Solteq Group implemented the IFRS 16 Leases-standard effective from January 1, 2019. The new standard was implemented using the modified retrospective approach, in which the comparative figures for prior financial periods were not restated. Key Figures
CEO Olli Väätäinen: International subsidiaries grew The Solteq Group's revenue was 14.7 million euros in the second quarter of 2019, an increase of 3.0%. Approximately one fifth of revenue originated from outside Finland. The revenue of the international subsidiaries grew significantly. Continuous services accounted for approximately one third of the revenue. The company's own software products and the related services accounted for approximately one-third and digital services approximately two-thirds of the revenue. The EBITDA for the second quarter was 1.6 million euros and operating profit 0.6 million euros. The operating profit increased by 0.5 million euros on a comparable basis, considering the impact of the implementation of IFRS 16 -standard. Solteq continued to invest significantly in the development of its own cloud-based software products and services. Customer feedback related to the developed software products has been positive. The product development investment was 1.1 million euros in the second quarter. We invested 0.6 million euros into product development in the second quarter last year. The product development investments are estimated to amount to 3.5 million euros by the end of the year. The Group's order intake continued to develop positively during the second quarter, and it was clearly better than in the second quarter of last year. The business outlook has remained unchanged, and the company's profitability is expected to develop positively. Profit guidance 2019 Solteq Group's operating profit is expected to grow clearly compared to the financial year 2018. Attachments Solteq Plc Half-year Report 1 Jan – 30 Jun 2019 Further information Martti Nurminen, CFO Distribution Key media Solteq in brief This information was brought to you by Cision http://news.cision.com https://news.cision.com/solteq/r/solteq-plc-half-year-report-1-january---30-june-2019,c2878101 The following files are available for download:
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