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Insider information, profit warning: Net sales growth in 2024 stays below the guidance, operating profit margin close to guidance high end

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Qt Group Plc, Stock exchange release, January 3, 2025, at 4:00PM EET

According to preliminary figures which have not been audited, Qt Group Plc’s net sales in the last quarter of 2024 will be approximately EUR 67-69 million. Our full-year net sales for 2024 will be approximately EUR 208-210 million. Thus, the net sales growth at comparable exchange rates will be approximately 15-16 % in 2024 year-on-year.

The company estimates the operating profit margin (EBITA-%) to be close to 35 % in 2024.

According to the company’s guidance, released on October 31, 2024, our full-year net sales for 2024 will increase by 20–25 percent year-on-year at comparable exchange rates and our operating profit margin (EBITA-%) will be 25–35 percent in 2024.

Thus, the revenue growth in 2024 will stay behind from the previous guidance, while operating profit margin (EBITA-%) is at the guidance high end.

The weaker growth than estimated was mainly caused by the postponements of ongoing deal negotiations. At the end of 2024 the company was negotiating several substantial deals of which more than estimated were postponed to 2025 hence are not visible in 2024 financial results.

At a general level, the 2024 financial results were negatively impacted specifically by the challenging market environment that caused slowness in the distribution license sales. The net sales growth of distribution licenses was clearly below the estimates, only growing slightly year-on-year. On the other hand, the net sales growth from developer licenses developed mostly as planned in 2024 which supports the long-term growth targets.

The company will share more details about 2024 financial development and gives financial guidance for 2025 on Thursday, February 13, 2025 together with the financial statement bulletin for 2024.

Further information:

President and CEO Juha Varelius, tel. +358 9 8861 8040

Distribution:

Nasdaq Helsinki

Main media

www.qt.io

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