Result warning from Qt-Group: Turnover falls short of forecast, result meets expectations

A software company Qt-Group warns that its last year’s turnover will fall slightly short of the forecast given at the end of October. At that time, the company estimated that its turnover would grow by 20–25 percent.

However, according to the unaudited profit figures, the turnover remained at around 208–210 million euros, which means an increase of around 15–16 percent from the previous year. In the last quarter of the year, the turnover was around 67–69 million euros.

The company however, the operating profit margin is in line with forecasts and in fact on the upper side of the previous forecast. Last year, the company made an operating profit of almost 35 percent in relation to turnover.

According to Qt-Group’s press release, the slower-than-forecast development of turnover is due to the prolongation of certain contract negotiations.

“At the end of the year, the company was negotiating several important contracts, of which more than expected were postponed until 2025,” the company writes.

Qt-Group will publish its official results for the entire last year on February 13. The value of the company’s stock was down more than five percent on the stock exchange on Friday.