Profit warning: Avidly specifies its 2019 EBIT guidance

Profit warning: Avidly specifies its 2019 EBIT guidance

Avidly Plc, inside information, 19 February 2020 at 17.15

Avidly specifies its 2019 EBIT guidance based on the preliminary unaudited annual accounts. Avidly’s previous  guidance was issued on 9 October 2019.

Avidly estimates that its EBIT in 2019 will be approximately -2.4 million euros. Earlier Avidly estimated that its revenue for 2019 will be EUR 22 - 24 million and that EBIT for 2019 will be negative (EBIT in 2018: EUR 0.6 million). Avidly reiterates its revenue guidance for 2019.

“Avidly’s investments in internationalization and domestic growth have not materialized as expected, which has led to a weaker than expected EBIT performance. On the contrary to earlier expectations, Inbound business area did not turn profitable in the fourth quarter.

During 2020, we expect to see results for the profitability project launched last autumn. We will also focus on profitable growth”, says Jesse Maula, CEO of Avidly. 

Avidly will publish  its Financial Statement Release for 2019 on 5 March 2020 and Annual Report including Report of the Board of Directors and Financial Statements on 10 March 2020. 

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:
Jesse Maula, CEO, Tel. +358 40 548 0248
Hans Parvikoski, CFO, Tel. +358 40 586 6154

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