Canopy Holdings AS – Announcement of strategic plan to accelerate path towards profitability in 2023/2024
(Oslo, 2 December 2022), Canopy Holdings AS (OSE:CAN) today announces a strategic plan to accelerate a path towards profitability in 2023/2024 with cost rationalization initiatives delivering savings in excess of NOK 15 million on an annualized basis.
In an effort to ensure long-term sustainable growth, the company has provided layoff notices, effective immediately, to employees across the organization representing around 16% of the total workforce. The company firmly believes this plan can be executed while still growing its market presence and maintaining a best-in-class customer experience.
“We have a clear plan to continue to pursue our growth objectives, while at the same time enhancing our margins and reducing our overhead costs. While it is never easy to let employees go, we believe this decision is required as we position ourselves for growth in the years ahead” says Christian Erlandson, CEO of Canopy Holdings AS.
Canopy Holdings continues to hold a strong position in the market. The company has a diversified business that distinguishes it from the competition.
“We will continue to prioritize investments as we become a more agile and efficient company to ensure long-term sustainable growth” added Christian Erlandson.
Further information to follow in the upcoming second quarter 2022/2023 financial results presentation.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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About Canopy Holdings AS
Canopy Holdings AS is a multi-national technology company listed on Euronext Growth Oslo. The company owns a leading portfolio of brands and companies that provides digitalization solutions to ski resorts, destinations, parks and attractions in key markets. Canopy Holdings AS currently consists of Catalate, Liftopia.com, Skitude and Spotlio.
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