Revenio Group Corporation: Revenio Group Corporation's earnings guidance for the second half of 2020
Revenio Group Corporation, Stock Exchange Release, October 12, 2020 at 14.45
Revenio Group Corporation’s earnings guidance for the second half of 2020
The Covid-19 pandemic continues to cause general uncertainty on the market and weakens visibility for the remainder of the year 2020. Under these circumstances Revenio Group Corporation estimates that the company’s currency-adjusted net sales for July-December of the present year will grow strongly from the previous year and the profitability excluding non-recurring costs will be on a strong level.
Revenio Group Corporation withdrew its earlier earnings guidance by a stock exchange release published on 2 April 2020. At that stage, the effects of the Covid-19 pandemic on the rest of the year were particularly hard to assess, and the company therefore did not give any new earnings guidance for the year 2020.
The company’s original earnings guidance of 20 February 2020 for the year 2020 was as follows: Revenio Group's reported net sales are estimated to grow very strongly from the previous year and profitability is to remain at a good level without non-recurring items.
Revenio Group Corporation
Board of Directors
For further information, please contact:
CFO Robin Pulkkinen, tel. +358 50 505 9932
Nasdaq Helsinki Ltd
Financial Supervisory Authority
Revenio Group in brief
Revenio, a health technology group operating in the international markets, is one of the global leaders in ophthalmic appliances. Revenio Group's ophthalmic diagnostic solutions include intraocular pressure measurement devices under the Icare brand and retinal imaging devices. The main tool for the detection and diagnosis of glaucoma and its monitoring during treatment are intraocular pressure measurement (tonometry), retinal imaging, and visual field tests (perimetry).
The Revenio Group consists of Icare Finland Oy, Icare USA Inc., Revenio Italy S.R.L, CenterVue SpA, Revenio Research Oy, Done Medical Oy and Oscare Medical Oy.
The common denominators of Revenio's business operations include patient-oriented screening, follow-up and the global need to make cost savings through preventive health care. Revenio seeks vigorous growth in health technology. Revenio aims to develop even more efficient and easily adopted methods for the early-stage detection of diseases with significance for public health. The aim is to improve the quality of life through health technology solutions which enable more effective diagnostics. Revenio Group’s focus is on the early detection of glaucoma, diabetic retinopathy and macular degeneration, and the monitoring of these during the treatment process. Revenio Research concentrates on the commercialization of systems supporting the diagnosis of and treatment planning for skin cancer and asthma.
In 2019, Revenio Group's net sales totalled EUR 49.5 million, with its net operating profit standing at 25.5 %. Revenio Group Corporation is listed on Nasdaq Helsinki.