Growth in Qt Group Plc’s net sales for 2017 falls slightly below earlier estimate
Qt Group Plc Stock Exchange Release January 11, 2018 at 6:40 PM
At the end of 2017, the growth of Qt Group’s net sales was weighed down by the strengthening of the euro compared to the dollar and the postponing of several medium-sized contracts until 2018. For these reasons, the growth in the company’s net sales for 2017 falls slightly below the growth forecast that was published on 23 October 2017. In the previous forecast, the company estimated its net sales to grow in 2017 by approximately 15 per cent from the previous year.
Based on the preliminary figures before auditing, the company’s net sales in 2017 amounted to EUR 36.2 million, with 11.8 per cent growth from the previous year. In Q4/2017, the company’s net sales amounted to EUR 10.1 million, with 14.0 per cent growth from the previous year. At comparable exchange rates, the company’s net sales grew by 20.3 per cent in Q4/2017 and 13.3 per cent in 2017.
In the company’s view, the slightly slower growth or its reasons will not affect the company’s outlook for the future. There might be significant differences between quarters and comparison periods in the growth of net sales also in the future, depending on the timing of individual contracts.
The company still estimates the growth prospects for its business in the next few years as very promising and keeps its long-term strategy and goals unaltered. The company’s financial goals are still to achieve, in 2021, annual net sales of EUR 100 million and an operating margin (EBIT-%) of more than 15 percent.
The company estimates the growth of its net sales to pick up speed in 2018 with over 15 per cent growth from the previous year. Due to investments in line with our growth strategy, the company’s operating result will, in line with earlier estimates, show a substantial loss also in 2018. The forecast does not take the effects of changes in exchange rates into consideration.
The company will release its financial statements bulletin and financial statements for 2017 on Friday 16 February 2018 at 8:00 a.m.
Helsinki, 11 January 2018
Qt Group Plc
Board of Directors
For more information, please contact:
Juha Varelius, CEO, tel. +358 9 8861 8040
Qt Group Plc is responsible for Qt development, productization and licensing under commercial and open source licenses. The Qt offering includes a development environment that enables the reuse of software code across numerous different operating systems, platforms and screen types, ranging from desktops and embedded systems to wearables and mobile devices. Qt is used by approximately 1 million developers worldwide and is the leading independent technology behind millions of devices and applications. Qt is the platform of choice for in-vehicle systems, industrial automation devices and other business critical applications manufacturers, and is used by leading global players in 70+ industries. The Qt Company operates in China, Finland, Germany, Japan, Korea, Norway, Russia and USA with about 200 employees worldwide. The Qt Group is headquartered in Espoo, Finland and is listed on Nasdaq Helsinki Stock Exchange. The company’s net sales in year 2016 was 32.4 MEUR.
To learn more visit http://qt.io