Cyber security company Nixu announced its key figures for January – March today in a concise Q1 review, and there was still no cheering in profitability.
In the first quarter, Nixu made an EBITDA of EUR -217 thousand, compared to EUR 367 thousand in the comparison period a year ago.
Information service Factsetin The average of the forecasts of the two analysts collected by the company expected an EBITDA of EUR 0.4 million from the company, but profitability was now shedding a loss.
However, Nixu’s net sales in the opening quarter increased by six percent from EUR 13.1 million in the comparison period to EUR 13.8 million, compared to analysts’ expectations of EUR 13.5 million.
“In the first quarter, Nixu returned to growth after a difficult Korona period,” said Nixu’s interim CEO Valtteri Peltomäki says in a press release.
Former CEO of Nixu Petri Kairinen will move in June Admicomin has been elected as the new CEO of Nixu Teemu Salmi. Stora Ensosta the upcoming Salmi will start in September.
Changes bite, guidance unchanged
According to Peltomäki, the changes made by Nixu last year are now starting to pay off.
“The positive development in sales continued and our net sales increased in the first quarter of 2022. The customer orders we received increased again in double-digit numbers from the comparison period, “says Peltomäki.
“As previously reported, loss-making managed services will strain our profitability in the first half of 2022. The good development of sales in the first quarter and significant transactions in Finland and Denmark, among others, strengthen our confidence in the improved profitability of managed services towards the end of the year. ”
According to Peltomäki, total profitability in the first quarter of the year was also affected by recruitment-related costs and staff turnover.
As expected, Nixu now reiterated its financial guidance for February 2022, issued on February 10, 2022. The company estimates that net sales will increase and EBITDA will improve from the previous financial year.