Inside Information, profit warning: Solteq Plc withdraws its profit guidance

Stock Exchange Bulletin
Inside Information
April 17, 2023, at 09:01 a.m. EET

Solteq withdraws the profit guidance published on February 16, 2023, due to the ongoing business transfer transaction.

Solteq has signed a business transfer agreement on April 17, 2023, whereby the Group’s ERP business based on Microsoft Dynamics 365 Business Central and LS Retail solutions will be sold to Azets. The completion of the transaction is estimated to take place on May 2, 2023, and it is subject to customary preconditions. 

In the financial year 2022, the revenue of the transferring business was EUR 11.2 million and the operating profit was EUR 1.5 million. When the transaction is completed, the company will recognize an estimated one-time profit of EUR 8 million on the fixed purchase price in the second quarter.

The previous profit guidance for 2023 was: Solteq Group’s revenue is expected to remain on the same level and operating profit to be positive.

Vantaa, April 17, 2023  

SOLTEQ PLC  
BOARD OF DIRECTORS 

Distribution:

Nasdaq Helsinki
Key Media
www.solteq.com

Further information:

CEO Aarne Aktan
Tel: +358 40 342 4440
Email: aarne.aktan@solteq.com

CFO Kari Lehtosalo
Tel: +358 40 701 0338
Email: kari.lehtosalo@solteq.com

Solteq in brief

Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs over 650 professionals and has offices in Finland, Sweden, Norway, Denmark, Poland, and the UK.