Siili Solutions swore to the loss – Turnover also fell short of the forecast

IT service company Siili Solutions the operating loss in April–June was 1.1 million euros, while at the same time last year the operating result was close to zero, but still in the red.

The operating profit fell short Inderes forecast. Inderes expected an operating income of EUR 0.5 million from the company.

The company’s turnover fell to 24.4 million euros. In April–June last year, the turnover was 27.6 million euros. Turnover fell short of Inderes’ forecast, which was EUR 25.3 million.

Siili Solutions’ adjusted ebita in the review period was EUR 0.2 million in loss, while a year earlier it was EUR 1.3 million in profit.

Earnings per share were -0.19 euros, while in the comparison period it was 0.05 euros. Earnings per share were below Inderes’ forecast, which was EUR 0.07.

The company lowered its guidance already last week, Thursday, August 6, and estimated the turnover for the whole year to be 95–105 million euros, while the previous estimate was 102–126 million euros. The adjusted ebita result for the whole year is estimated to be 0.5–3.3 million euros instead of the previous 3.7–6.9 million euros.

Acting managing director Markku Savusalo states in the announcement that as a result of strengthening the sales organization and the offer, sales developed positively towards the end of the second quarter. According to him, this creates a stronger foundation for the second half of the year.

The CEO of Siili Solutions said in May Tomi Pienimäki is leaving his position, and the application process for a new CEO is underway. In addition, the company increased its holdings in its subsidiaries during the review period Superchargessa and Integrations Groupissa.

The news is based on the company’s stock exchange release and analyst forecast, if one has been available. The news has been prepared by artificial intelligence and checked by the editor before publication.