Avidly decreases guidance of EBIT for the full year of 2019

Avidly Plc, Insider Information, 9.10.2019 at 10.45 am

Avidly decreases guidance of EBIT for the full year of 2019

Marketing service provider Avidly defines its outlooks for 2019 and changes guidance of its EBIT for 2019. Previous guidance was issued on 25 June 2019 and repeated on 22 August 2019.

Avidly estimates now that its EBIT for 2019 will remain at a loss. Avidly will not change its guidance on the revenue for 2019, but remains in the assessment that its revenue for the year will be EUR 22-24 million. 

Avidly’s previous guidance for the full year of 2019 in its entirety was that its revenue will be EUR 22-24 million, along with positive EBIT (EBIT in 2018: EUR 0.6 million).

Avidly’s updated guidance for the full year of 2019 in its entirety is that its revenue will be EUR 22-24 million and that EBIT will be negative (EBIT in 2018: EUR 0.6 million).

Interim CEO Mikko Marttinen:

“Getting pre-emptive recruits in the Inbound business area to billable work has taken longer than expected. We have also taken time to streamlined integration processes to integrate the operations of the German Netpress GmbH which we acquired into Avidly. Although the third quarter is at a loss in Inbound business area, we estimate that the fourth quarter is profitable.

We now consider that it is important to invest in the growth of the Inbound business and use the proceeds from the share issues to fully implement the new strategy at the expense of short-term profitability.

To improve the profitability of the Marketing Services business area we have launched a separate profitability project in this autumn, mainly to improve the sales and processes of our project operations without personnel reductions.” 

This release contains information which Avidly Plc makes public pursuant to the EU Market Abuse Regulation, article 17. 

AVIDLY PLC
BOARD OF DIRECTORS

Additional information:

Mikko Marttinen, Interim CEO, tel. +358 50 581 7669

Oaklins Merasco Oy acts as Avidly Plc’s Certified Advisor, tel. +358 9 6129 670

Avidly is Finland’s leading marketing service provider and a leading marketing automation company in the Nordics, listed on the Nasdaq First North Growth marketplace in Helsinki. We create an atmosphere for growth to take our customers forward. We are a team of more than 250 navigators and explorers, makers and shakers in 16 locations in Finland, Sweden, Norway, Denmark and Germany. Read more: investors.avidlyagency.com/en