Solteq cancels its guidance for 2020 – markets unstable because of the COVID-19 pandemic

Solteq Plc, Stock Exchange Bulletin, April 3, 2020

For the time being, Solteq will cancel its guidance for the 2020 financial year due to the uncertainty on the markets caused by the COVID-19 pandemic. The company will provide guidance for 2020 once the conditions are more favorable for predicting market developments. The company's long-term financial goals remain unchanged.

Customer deliveries have continued without interruptions in eCommerce, information management and Utilities, which are the company’s key business areas. The outlook within these business areas has remained unchanged. The above areas are estimated to account for approximately two thirds of the company’s revenue.

Solteq has taken measures to reduce the financial impact of the COVID-19 pandemic, secure its employees’ health and safety, and ensure that projects and services for customer companies continue without interruption.

The company’s previous guidance for 2020 was:
Solteq Group's adjusted operating profit is expected to remain at the same level as in 2019.

Vantaa, April 3, 2020

SOLTEQ PLC

BOARD OF DIRECTORS

Distribution:

NASDAQ OMX Helsinki

Key Media

www.solteq.com

Further information:

CEO Olli Väätäinen
Tel. +358 50 5578 111
Email:olli.vaatainen@solteq.com

CFO Kari Lehtosalo
Tel: +358 40 751 7194
E-mail: kari.lehtosalo@solteq.com

Solteq in brief

Solteq is a Nordic provider of IT services and software solutions specializing in the digitalization of business and industry-specific software. The key sectors in which the company has long term experience include retail, industry, energy and services. The company operates in Finland, Sweden, Norway, Denmark, Poland and the UK and employs 600 professionals.