Revenio Group Corporation: Revenio Group Corporation will withdraw its earnings guidance for 2020 due to uncertainty caused by the Covid-19
Revenio Group Corporation, Stock Exchange Release, April 2, 2020 at 17.00
Revenio Group Corporation will withdraw its earnings guidance for 2020 due to uncertainty caused by the Covid-19
Due to the uncertainty caused by the Covid-19 pandemic and declining general economic developments, market conditions have become extremely exceptional, which has led to a decline in the predictability of economic development. As it is not yet possible to assess the full impact of the situation towards the end of the year, Revenio Group Corporation will revoke its financial guidance for 2020, given on February 20, 2020, and will not for now issue a new guidance.
The previous financial guidance for 2020 was:
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.
The Interim Report Q1/2020 will be published on April 22nd, 2020.
Revenio Group Corporation
Board of Directors
Further information:
CEO Timo Hildén, tel. +358 40 580 4774
timo.hilden@revenio.fi
CFO Robin Pulkkinen, tel. +358 50 505 9932
robin.pulkkinen@revenio.fi
DISTRIBUTION:
Nasdaq Helsinki Oy
Financial Supervisory Authority (FIN-FSA)
Principal media
www.revenio.fi
The Revenio Group in brief
Revenio is a health tech group operating on the international market and a global leader in ophthalmological devices.
The Revenio Group comprises Icare Finland Oy, Icare USA Inc., Revenio Italy S. R. L, CenterVue SpA, CenterVue Inc., Revenio Research Oy, and Oscare Medical Oy.
The common denominators of Revenio's business operations include patient-led screening, follow-up and the global need to make cost savings in health care via preventive measures. 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 goal is to create better quality of life through health technology solutions that enable more efficient diagnostics. The focus of the Group is on the early detection of glaucoma, diabetic retinopathy, and macular degeneration, and the monitoring of these during the treatment process. Revenio Research focuses on the commercialization of systems that support the diagnosis of skin cancer and asthma and planning their treatment.
In 2019, the Group's net sales totaled EUR 49.5 million, with its operating margin standing at 25.5%. Revenio