PROFIT WARNING - INSIDE INFORMATION: QPR Software Plc's EBITDA better than expected, net sales at the previous year's level, SaaS growth outlook (over 35%) unchanged
QPR SOFTWARE PLC INSIDE INFORMATION 16 October 2023 at 9 a.m. EET
QPR Software Plc expects its EBITDA to become clearly positive in 2023. According to previous guidance, the company expected its EBITDA to improve significantly and reach the break-even point in the financial year 2023. The improvement in profitability beyond expectations has been influenced by the significant cost-saving measures taken and the focus of sales on the more profitable SaaS and software business as well as on consulting in these priority areas.
As part of the company's strategy, QPR is re-positioning itself even more strongly as a software and SaaS player and as a consultant for its core business areas. Some of the consulting projects in the domestic public sector outside the core business have ended prematurely or they are occurring on a smaller scope than originally expected. This will reduce the net sales at the end of the year, and the company's net sales for the whole fiscal year will remain at the level of the previous year, while the growing software business compensates the decrease.
The company's SaaS turnover is expected to continue to grow by more than 35% from last year, and business activities outside of consulting will grow as a whole.
THE UPDATEDOUTLOOKFOR 2023
Supported by the current contract base and the projected growth of SaaS (Software as a Service) turnover, QPR expects the growth of SaaS turnover to be more than 35% and estimates that the entire turnover will remain at the same level as in 2022 (2022: 7,823 thousand euros).
The company expects EBITDA to improve considerably and end up clearly positive in the 2023 financial year. EBITDA in 2022 was -1753 thousand euros.
PREVIOUS OUTLOOK FOR 2023
The exceptional circumstances caused by increased interest rate, inflation, and a market downturn in Europe continue to affect new customer acquisition, companies' investments, and prolong decision-making in early 2023.
Supported by the current contract base and the projected growth of SaaS (Software as a Service) net sales, QPR expects the growth of SaaS net sales to be more than 35% and estimates that the entire net sales increase in 2023 (2022: 7,823 thousand euros).
The company expects the EBITDA to improve considerably and reach the break-even point in the financial year 2023. The EBITDA in 2022 was - 1,753 thousand euros.
QPR Software Plc will publish its January-September 2023 interim report on Friday, October 20, 2023.
For further information:
Chief Executive Officer
QPR Software Plc
Tel. +358 40 922 6029
About QPR Software
QPR Software Plc (Nasdaq Helsinki) provides process mining, performance management, and enterprise architecture solutions for digital transformation, strategy execution, and business process improvement in over 50 countries. QPR software allows customers to gain valuable insights for informed decisions that make a difference.
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