Nixu lowers its guidance of revenue growth for 2019 – Growth 35%
Nixu Corporation, Press release, September 24, 2019 at 8:05 AM EEST
Cybersecurity company Nixu announced earlier today changes to its financial guidance with a stock exchange release. Nixu lowers its guidance of revenue growth for year 2019. This is due to cancellations of estimated technology resell deals with a single client of Nixu Corporation’s Danish subsidiary, Ezenta A/S. The technology resell transactions would have been significant in terms of revenue but due to the volume of the transactions, the margin would had been relatively small. Therefore, the decrease in revenue will have a limited impact on the profitability, and the company still estimates its EBITDA to improve significantly from the previous financial year.
New guidance for 2019:
Nixu continues to emphasize the importance of growth and continues to invest heavily in growth projects. Supported by strong organic growth and the completed acquisitions, Nixu estimates its revenue to grow approximately 35% from the previous financial year. The full year EBITDA is estimated to improve significantly from the previous financial year.
Previous guidance for 2019:
Nixu continues to emphasize the importance of growth and continues to invest heavily in growth projects. Supported by strong organic growth and the completed acquisitions, Nixu estimates its revenue to grow over 40% from the previous financial year. The full year EBITDA is estimated to improve significantly from the previous financial year.
The previous mid-term guidance is excluded from the financial guidance and replaced with the Nixu growth ambitions, for the years 2020 to 2024, announced on August 28, 2019. The change in the 2019 financial guidance will not affect these growth ambitions.
Nixu Corporation
Further information:
Chief Executive Officer Petri Kairinen, Nixu Corporation
telephone +358 40 832 1832, e-mail: petri.kairinen@nixu.com
Distribution:
Principal media
www.nixu.com
Nixu in Brief:
Nixu is a cybersecurity services company on a mission to keep the digital society running. Our passion is to help organizations embrace digitalization securely. Partnering with our clients we provide practical solutions for ensuring business continuity, an easy access to digital services and data protection. We aim to provide the best workplace to our team of nearly 400 cybersecurity professionals with a hands-on attitude. With Nordic roots we serve enterprise clients worldwide. Nixu shares are listed on the Nasdaq Helsinki stock exchange.
www.nixu.com