InCoax Networks AB updates financial targets

Updated financial targets

The Board of Directors has decided to update the company's financial goals. The reason for this change is that customer evaluations take longer time than originally estimated, that business and decision cycles for larger operators with large volume contracts are longer and that we are currently close to formalizing projects with very great potential with world-leading operators.

The company postpones the turnover target to reach more than SEK 300 million from 2020 to 2021, but maintains the turnover target to reach more than SEK 1,000 million by 2023.

The company changes the EBIT margin target to 10 percent in 2021 and over 20 percent in 2022 and onwards. Previous targets were a long-term EBIT margin target of 20 percent. For 2020, the turnover target is about SEK 50 million.

This information is such information as InCoax Networks AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 20:00 CET on February 5, 2020.
 

Contacts
Peter Carlsson, CEO, peter.carlsson@incoax.com, +46 (0) 26-420 90 42
Marie Svensson, CFO, marie.svensson@incoax.com, +46 (0) 26-420 90 42

About InCoax Networks AB
InCoax Networks AB (publ) is innovating the future of broadband access. In:xtnd™ provides the next-generation smart and sustainable networking solutions to the world’s leading telecom and broadband service providers. For additional information about how we are saving the world from complicated, visit www.incoax.com. Augment Partners AB, tel. +46 8-505 651 72 info@augment.se, is acting as the company’s Certified Adviser.